UK plans to secure trade deal with India

UK Trade Secretary Jonathan Reynolds and Commerce Minister Piyush Goyal. PIC/@PiyushGoyal

UK Business and Trade Secretary Jonathan Reynolds on Monday said securing a Free Trade Agreement (FTA) with ‘vibrant market' India is a top priority for the British government. Ahead of the relaunch of negotiations, stalled by the general election cycles in both countries last year, the Department for Business and Trade (DBT) said there will be two days of ‘focussed discussions' in New Delhi.

"Securing a trade deal with what is soon-to-be the third biggest economy in the world is a no-brainer, and a top priority for me and this government," said Reynolds, who arrived in New Delhi on Monday for the trade talks. This marks the first time trade ministers from both countries will formally get their negotiating teams around the table under Britain's Labour Party government.

Reynolds stressed that growth will be the "guiding principle" in the trade negotiations. "I'm excited about the opportunities on offer in this vibrant market," he added. India and the UK have held fourteen rounds of negotiations since January 2022 under the previous Conservative Party government towards an FTA, with an aim to significantly enhance the estimated GBP 41 billion a year bilateral trade partnership.

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