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

Mumbai gets its second global gateway

India’s newest aviation marvel takes flight as Modi inaugurates Navi Mumbai International Airport, a lotus-inspired symbol of growth, connectivity and national pride….reports Asian Lite News Prime Minister Narendra Modi inaugurated the Navi

India edges closer to recognising Taliban

New Delhi hosts Taliban foreign minister in cautious step towards pragmatic engagement…reports Asian Lite News Afghanistan’s acting foreign minister Amir Khan Muttaqi arrived in New Delhi on Wednesday in what is being

19 US Lawmakers Urge Trump To Reset Ties With India

Democrats urge White House to mend strained ties with India as tariff hikes hit trade and security cooperation…reports Asian Lite News Nineteen Democratic lawmakers in the United States Congress have urged President

India, UK to fast-track CETA roll-out

India and the UK step up efforts to operationalise landmark trade deal as business leaders seek new opportunities India and the United Kingdom took a decisive step towards activating their long-awaited trade

World Bank Warns of Growing Poverty in Pakistan

Instead of concentrating on rural development to reduce poverty, the Pakistan government has been focused more on increasing defence expenditure….reports Asian Lite News The World Bank has voiced deep concern over Pakistan’s
Go toTop

Don't Miss

Pakistani dancer ‘ejected’ from UK mission for pro-Palestine slogan

Kermani said that she raised the slogan “Ceasefire Now” when

UK’s Oxford City to get first Hindu temple

The group had been looking for a suitable building for