Britain and India will formally begin free trade agreement talks in New Delhi and discuss the free movement of goods and people with a deal to raise bilateral trade by billions of pounds. Britain has made a deal with India in which one of its preferences are free from the EU’s common trade policy, and ministers are looking to bring trade policy towards faster-growing economies in the Indo-Pacific region.
Union Trade Minister Piyush Goyal and his British counterpart Anne-Marie Trevelyan will meet in New Delhi on Thursday, with the first round of discussions beginning next week. “A deal with India will put UK businesses at the front of the queue as the Indian economy continues to grow rapidly,” Trevelyan said in a statement. Britain said the deal could double British exports to India, and by the year 2035, increase the total trade by $38.3 billion per year.
India and Britain already share strong trade agreements, and over 1 million Indians live in Britain. India is looking for ample opportunities for Indians to live or work in Britain, and any trade deal can relax rules and lower fees for Indian students and professionals in Britain. Both the countries have already negotiated an enhanced trading partnership announced last year and can sign a limited-scope interim free trade agreement.