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HomeBusinessEconomyIndia - UK free trade agreement to deliver for businesses, consumers

India – UK free trade agreement to deliver for businesses, consumers

By Caribbean News Global fav

INDIA / ENGLAND – The Republic of India and the United Kingdom have formally launched negotiations for a free trade agreement between our two countries, says Indian minister for commerce and industry Piyush Goyal and UK trade secretary, Anne-Marie Trevelyan, who is in New Delhi for free trade agreement discussions.

“A India-UK free trade agreement would be a substantial opportunity for both of our economies and a significant moment in the India-UK bilateral relationship. The India-UK bilateral trading relationship is already significant, and both sides have agreed to double that bilateral trade by 2030, as part of Roadmap 2030 announced by prime minister Narendra Modi and prime minister Boris Johnson in May 2021. India and the UK will seek to agree a mutually beneficial agreement supporting jobs, businesses and communities in both countries,” the department for international trade, said in a joint media statement Thursday, January 13, adding “ trade negotiations will be a priority for both countries, as we build upon the Enhanced Trade Partnership launched by our prime ministers in May 2021.”

During negotiations, and on the path to a comprehensive agreement, both governments will consider the option of an interim agreement that generates early benefits for both countries. In parallel to trade negotiations, the India-UK Joint Economic and Trade Committee will continue to work in improving the India-UK trading relationship and addressing market access barriers outside of a trade agreement, reads the joint media statement.

“Both parties have agreed that the first round of negotiations will begin on January 17, and future rounds of negotiations will take place approximately every five weeks. The Indian negotiating team will be led by Nidhi Mani Tripathi, joint secretary, department of commerce and the UK negotiating team will be led by Harjinder Kang, director for India negotiations at the department for international trade,” stating, “ The ambition of both countries is to negotiate a broad agreement that will deliver for businesses and consumers.”

Related: UK – India launches negotiations on a 5-star year of trade 

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