January 22, 2022

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India and the UK have begun negotiations on a free trade agreement

India and the UK have begun negotiations on a free trade agreement

Negotiations on a free trade agreement between India and the UK began on Thursday. If the talks succeed, bilateral trade is expected to increase to billions of dollars. This is one of the UK’s most ambitious trade talks since leaving the European Union.

Creating better relationships

Recovering from the Govt-19 epidemic has given the two countries a unique opportunity to build ties in the fields of trade, security, climate protection and health, said British Foreign Secretary Ann-Marie Travelian.

Indian Trade and Industry Minister Piyush Kojal has said that their free trade agreement this year will double trade between the two countries by 2030. Both sides hope that the agreement will bring great benefits to many sectors, from the food and beverage sector to modern renewable energy technologies.

British Colony

After leaving the European Union in 2016, the United Kingdom focused on its trade policy in the Indo-Pacific region. India, a former British colony, is considered a suitable territory by Britain due to the uncertainty in its relationship with China.

India and the UK already have extensive relations and their mutual trade value in 2019-20 is $ 15.45 billion.

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