UK and India Relaunch Free Trade Agreement Talks
(Pic Credit: @jreynoldsMP)
New Delhi: UK Business and Trade Secretary Jonathan Reynolds arrived in New Delhi today to restart negotiations on a free trade agreement (FTA) between the UK and India. The two-day talks aim to establish a modern economic deal that unlocks the vast potential of both nations.
The UK and India, currently the sixth and fifth largest global economies, respectively, have a thriving trade relationship worth £41 billion, supporting over 600,000 jobs across both countries. A successful FTA is expected to boost sectors such as advanced manufacturing, clean energy, financial services, and professional and business services, aligning with the UK government’s upcoming Industrial Strategy.
“We are committed to driving economic growth across the UK, working with key international partners like India,” said Jonathan Reynolds. “I look forward to meeting Minister Goyal to relaunch talks on a trade deal that will support jobs and bring prosperity to both nations.”
In a parallel effort, UK Investment Minister Poppy Gustafsson will visit Mumbai and Bengaluru to promote the UK as a prime investment destination for Indian businesses. India has been a significant source of foreign direct investment (FDI) into the UK, with a 28% year-on-year increase in investment.
