Union Minister of Commerce and Industry, Piyush Goyal, on Thursday launched the negotiations between India and the UK for a Free Trade Agreement (FTA) between the two countries in the presence of British International Trade Secretary, Anne-Marie Trevelyan.
Ahead of the launch of the FTA negotiations, British Minister Boris Johnson said: “A trade deal with India’s booming economy offers huge benefits for British businesses, workers and consumers. As we take our historic partnership with India to the next level, the UK’s independent trade policy is creating jobs, increasing wages and driving innovation across the country.”
“The UK has world-class businesses and expertise for which we can rightly be proud of, from Scotch whisky distillers to financial services and cutting-edge renewable technology. We are seizing the opportunities offered in growing economies of the Indo-Pacific to cement our place on the global stage and deliver jobs and growth at home,” Johnson said in London.
The India-UK bilateral trade relationship is part of ‘Roadmap 2030′ announced by Prime Minister Narendra Modi and his British counterpart Johnson in May 2021.
India and the UK will seek to agree a mutually beneficial agreement supporting jobs, businesses and communities in both countries.