The UK government on Thursday announced the launch of free trade agreement (FTA) negotiations with India, describing it as a “golden opportunity” to put British businesses at the “front of the queue” of the Indian economy.
British Prime Minister Boris Johnson said an FTA would take the country’s historic partnership with India to the next level, and highlighted Scotch whisky, financial services and cutting-edge renewable technology among some of the key sectors set to benefit.
The first round of negotiations may start next week, which the British government said would make it the UK’s quickest start of formal talks between negotiating teams following a launch. “A trade deal with India’s booming economy offers huge benefits for British businesses, workers and consumers. As we take our historic partnership with India to the next level, the UK’s independent trade policy is creating jobs, increasing wages and driving innovation across the country,”
“The UK has world-class businesses and expertise we can be proud of, from Scotch whisky distillers to financial services and cutting-edge renewable tech. We are seizing the opportunities offered in growing economies of the Indo-Pacific to cement our place on the global stage and deliver jobs and growth at home,” he said.