India and Britain are formally launching talks to pursue a free trade deal that is expected to boost their trade by billions, making it one of the most ambitious negotiations to take place after Brexit.
Britain’s International Trade Secretary Anne-Marie Trevelyan is in New Delhi and will meet with Piyush Goyal, India’s minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution and Textiles. Actual negotiations kick off next week, officials said.
Both sides hope the deal will spark huge benefits for several industries, from food and drink to cutting-edge renewable technology. The deal could potentially double UK exports to India and boost two-way trade by $38 billion a year by 2035, a British government statement said. “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,” Trevalyan said, adding that Britain was keen to tap into the growing middle class in Asia’s third-largest economy.Her visit signals efforts from Britain, after leaving the European Union in 2016, to focus its trade policies in the Indo-Pacific region. India, once a British colony, is viewed as a favorable location given uncertainties over ties with China.
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