Get the latest creative news from FooBar about art, design and business.
India and the UK could soon reach a free trade deal, with UK leaders claiming negotiations have ‘advanced well enough’. He demanded that he lead them to India.
“The UK-India Free Trade Agreement is well advanced. We currently have £29.6bn in trade, but India is just the UK’s 12th largest trading partner.It is not enough.Read More It should be high,” said Sir Curran Vilimoria.
“The Indian Express has left the station. It is now the fastest train in the world and the fastest growing major economy in the world. must be,” he added.
According to Sir Tariq Ahmad, the next round of talks between the two countries will begin soon. Britain’s Foreign Office Minister for South Asia told his colleagues during a parliamentary debate that negotiations for a bilateral free trade agreement were “well advanced” and underway.
“As one of the world’s largest and fastest growing economies, India is an important partner for the UK. We are also considering lowering non-tariff barriers on medical devices to benefit UK exporters. It’s an ambitious and balanced free trade deal,” he said.
Officials say a strong trade deal with India could boost the UK economy by billions of pounds in the long run and help families across the country. Reducing bureaucracy and high tariffs could make it easier and cheaper for UK companies to sell in India, boosting growth and boosting employment.
According to official UK government data, bilateral trade between India and the UK now amounts to around £29.6 billion annually. The two sides officially launched FTA negotiations last January, with former Prime Minister Boris Johnson announcing a deadline for signing the Diwali Agreement.
But Prime Minister Rishi Sunak vowed to work “at pace” towards an FTA that would not “sacrifice quality for speed” after the October deadline passed amid political turmoil in the UK. promised.
“As an update, we have completed six rounds of negotiations towards a trade deal and will begin the next round soon…Several noble lords have spoken about timelines,” Ahmad said. rice field.
(with input from institutions)
Catch all business news, market news, breaking news events and breaking news updates with Live Mint. Download The Mint News app for daily market updates.
Save my name, email, and website in this browser for the next time I comment.
Type above and press Enter to search. Press Esc to cancel.