Lagatar24 Desk
New Delhi, Jan 13: India and the United Kingdom will formally begin discussions on a free trade agreement at an event in New Delhi on Thursday, informed Britain’s Department for International Trade.
Minister of Commerce and Industry Piyush Goyal will meet UK’s International Trade Secretary Anne Marie Trevelyan to formally start the talks. This talk will aim for greater freedom of movement of goods and people in a pact that could boost bilateral commerce by billions of pounds.
UK Prime Minister Boris Johnson described the start of FTA negotiations with India as a “golden opportunity” to put British business as the “front of the queue” of the Indian economy.
“A deal with India is a golden opportunity to put UK businesses at the front of the queue as the Indian economy continues to grow rapidly,” Trevelyan said in a statement.
The agreement will create huge benefits for both the countries and could boost our total trade by up to euro 28 billion a year 2035 and increase wages by up to euro 3 billion across the UK, reads the press release of UK Department for International Trade.
The negotiations will aim to double trade with India by 2030, supercharging the growth of the UK’s trading relationship which totalled over euro 23bn in 2019, according to the UK Department for International Trade.
