New Delhi: India-UK strategic and trade relationship has been boosted with the recent Free Trade Agreement (FTA) enacted between the two countries, according to Union Minister of Commerce and Industry, Piyush Goyal said on Monday.
Earlier, the contours of the FTA was envisaged when Anne-Marie Trevelyan MP, Secretary of State for International Trade and Union Minister of Commerce and Industry, Piyush Goyal met on January 13, 2022 for the 15th meeting of the India-UK Joint Economic and Trade Committee.
Further, the Union Minister of Commerce and Industry said that both India and UK are committed to concluding negotiations on a comprehensive and balanced FTA, with the ambition to close negotiations by the end of 2022, including consideration of an Interim Trade Agreement to achieve early gains.
Also, the Union Minister mentioned that India recognises that the launch of the FTA marks a new phase in our strategic and trade relationship, delivering gains for both countries whilst building upon the bilateral commitments we have made to date.
On 7 October 2021, both India and UK met for the Fourth UK-India Multilateral Trade Dialogue (MTD), to build mutual understanding and cooperation to continue strengthening cooperation at the World Trade Organization (WTO).
