The two sides will discuss a range of business opportunities of mutual interest that will benefit India and the UK
Commerce and Industry Minister Piyush Goyal met the UK’s Foreign Minister for International Trade on Thursday Anne-Marie Trevelyan For the formal launch of talks in New Delhi for one free trade agreement,
The two sides will discuss a range of business opportunities of mutual interest, which will benefit India and UK,
In a tweet, Mr Goyal said, “Met with UK Secretary of State for International Trade, Annie Treve, to launch India-UK Free Trade Agreement talks.”
The objective of this agreement is to liberalize norms and reduce customs duties to promote trade in goods and services, apart from promoting investment.
India’s exports to the UK stood at $8.15 billion in 2020-21, while imports totaled $4.95 billion.
India’s main exports to the UK include ready-made garments and textiles, gems and jewellery, engineering goods, petroleum products, transport equipment, spices, pharmaceuticals and marine products.
Imports from Britain include precious and semi-precious stones, ores and metal scrap, engineering goods, chemicals and machinery.
In the services sector, the UK is Europe’s largest market for Indian IT services.
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