UK-India trade negotiations to resume in the new year
Free trade talks between India and the UK will be relaunched in the new year, according to an announcement from Downing Street.
The development follows a meeting between UK Labour Party leader Sir Keir Starmer and Indian Prime Minister Narendra Modi during the G20 summit in Brazil.
A potential post-Brexit trade agreement could provide significant economic benefits, opening up lucrative markets for British industries such as automotive manufacturing, Scottish whisky, and financial services. India, projected to become the world’s third-largest economy by 2050, offers a promising trade opportunity for the UK.
Despite the optimism, negotiations, which have been ongoing since 2022, have encountered challenges. Key issues include relaxing visa requirements and reducing fees for Indian students and professionals seeking opportunities in the UK.
The trading relationship between the two nations is already substantial, with UK exports to India valued at £16.6 billion and bilateral trade reaching £42 billion in the year leading up to June 2024.
During the G20 summit, Sir Keir engaged with several global leaders and is expected to unveil new strategies for trade and industry in the coming weeks.
.png "Advertisement")
