UK Starts FTA Talks With India
The U.K. and India began negotiations on a new free trade agreement at an event in New Delhi, the U.K.'s Department for International Trade said Jan. 13. Cementing what it dubs its "5-star year of trade," the DIT laid out…
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the agreement's potential benefits: doubling trade with India by 2030, which was already valued at over $31.5 billion; cutting duties on British products such as Scotch whisky and cars; and boosting the U.K.'s green industries. "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," International Trade Secretary Anne-Marie Trevelyan said in a statement. "By 2050 India will be the world’s third largest economy with a middle class of almost 250 million shoppers. We want to unlock this huge new market for our great British producers and manufacturers across numerous industries from food and drink to services and automotive."