January 13, 2022
2 mins read

FTA TALKS: Goyal meets British counterpart

Union Minister Piyush Goyal expressed his hope that the deliberations will be held over an array of trade opportunities of mutual interest benefiting both sides…reports Asian Lite News

Union Minister for Commerce and Trade Piyush Goyal met UK Secretary of State for International Trade Anne-Marie Trevelyan for the launch of India-UK Free Trade Agreement Negotiations here on Thursday.

“Met with UK Secretary of State for International Trade @AnnieTrev for the launch of India-UK Free Trade Agreement Negotiations,” said Goyal in a tweet on Thursday.

“Deliberations will be held over an array of trade opportunities of mutual interest benefiting both sides,” he added.

The agreement aims to create huge benefits for both countries and could boost our total trade by up to euro 28 billion a year by 2035 and increase wages by up to euro 3 billion across the UK, said the UK Department for International Trade in a press release on Wednesday (local time).

Pic credit Twitter

The agreement will create huge benefits for both countries and could boost our total trade by up to euro 28 billion a year by 2035 and increase wages by up to euro 3 billion across the UK

Britain wants an agreement that slashes barriers to doing business and trading with India’s euro 2 trillion economy and market of 1.4 billion consumers, including cutting tariffs on exports of British-made cars and Scotch whisky, the release added.

“A trade deal with India’s booming economy offers huge benefits for British businesses, workers and consumers, said UK Prime Minister Boris Johnson in the statement on Wednesday, adding, “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.”

According to the UK Department for International Trade, India is one of the world’s biggest and fastest-growing economies and a bold new deal would put UK businesses at the front of the queue to supply India’s growing middle class, forecast to increase to a quarter of a billion consumers by 2050. India is set to become the world’s third-biggest economy by 2050, with a bigger population than the US and EU combined. (ANI)

ALSO READ: UK launches FTA negotiations with India

Previous Story

Nigeria lifts ban on Twitter

Next Story

5000 underprivileged women into successful entrepreneurs

Latest from -Top News

Trump Targets BRICS Allies with New Tariff

This move coincides with the ongoing BRICS summit being held in Rio de Janeiro, Brazil…reports Asian Lite News US President Donald Trump has announced that an additional 10 per cent tariff will

BRICS Endorses India’s Stand on Terror

The treaty proposed by India within the UN framework aims to provide a comprehensive legal basis for combating terrorism….reports Asian Lite News The leaders’ joint statement, issued after the 17th BRICS summit

BRICS Slams US Tariff Hikes

The leaders criticised developed nations for using environmental issues to justify trade restrictions on developing countries….reports Asian Lite News Rio de Janeiro, July 7 (IANS) Embroiled in a trade war launched by

US Tariffs Pushed to August Amid Talks

In April, Trump announced a base tariff of 10 per cent on most of America’s trading partners and thereafter additional duties ranging up to 50 per cent….reports Asian Lite News US President

Indonesia Joins BRICS Bloc

This year’s BRICS Summit saw an expanded format, reflecting the grouping’s growing relevance in international affairs….reports Asian Lite News Prime Minister Narendra Modi formally welcomed Indonesian President Prabowo Subianto into the BRICS
Go toTop

Don't Miss

Muizzu thanks India for financial assistance as he finishes state visit

During the visit, Muizzu held high-level meetings with President Murmu,

RBI withdraws Rs 2,000 currency notes

The RBI said it will withdraw all the Rs 2,000