The relationship between the UK and India has gone from strength to strength, with over 11% increase in trade over the previous year, now worth £24 billion and continued investment in India worth £140 million during the pandemic months.
The recent ministerial engagements – JETCO review and the 10th Economic and Financial Dialogue, act as a rolling stone to renewed commitment of post-Brexit Enhanced Trade Partnership (ETP) between the UK and India. The ETP negotiations are currently underway, which hopefully will pave the way for a future UK-India Free Trade Agreement.
The 14th UK – India Joint Economic and Trade Committee (JETCO) meeting on 28 July 2020, agreed to prioritise five key areas: life sciences, information communications technology (ICT), food and drink, chemicals, and services to address non-tariff barriers to trade towards first an enhanced and eventually a free trade agreement. The UK is the second fastest growing G20 investor in India over the last 10 y