Reynolds-Gustafsson talk business in India
Negotiations have been relaunched for a free trade agreement negotiations UK and India this week (beginning 24 Feb) by Business and Trade Secretary Jonathan Reynolds for both countries to take the trading relationship to new heights https://fieo.org/.
The FTA will deliver economic growth and bring the two economies closer, benefiting businesses in both countries, said the British High Commission in New Delhi on 24 Feb https://www.gov.uk/government/ministers.
“The size of the economic prize is huge as trade between the UK and India continues to grow significantly,” said the High Commission https://www.commerce.gov.in/.
The UK and India are currently the sixth and fifth largest global economies, respectively, with a trade relationship worth £41 billion which supports over 600,000 jobs across both countries http://visitbritain.com.
A trade deal could back sectors identified in the UK government’s upcoming Industrial Strategy, such as advanced manufacturing, clean energy, financial services, and professional and business serviceshttps://sbi.com.in/.
Reynolds said, “We are committed to driving economic growth across the UK, working with key international partners such as India https://www.nseindia.com/.
“We want to take our trading relationship with India to the next level and this trade deal forms the bedrock of this commitment.”
At the same time, UK Investment Minister Poppy Gustafsson is in Mumbai and Bengaluru, promoting the UK as the best place for Indian businesses to invest https://www.bseindia.com/.
India has been the second biggest source of FDI into the UK for five consecutive years in terms of projects and jobs created and the most recent stats show a 28% year-on-year increase in investment.
The UK offer for Indian investors has never been stronger, she will tell businesses, thanks to the government’s drive to restore economic stability and boost investor confidence as part of its Plan for Change, said the High Commission. Fiinews.com
