Tribune News Service
New Delhi, January 13
India and the United Kingdom (UK) on Thursday formally started talks for a free trade agreement (FTA) to help increase bilateral trade to over USD 100 billion by 2030 and boost economic ties between the two countries. expected to promote.
The talks were initiated by Commerce and Industry Minister Piyush Goyal and Britain’s Secretary of State for International Trade Anne-Marie Trevelyan here.
The first round of talks will begin on January 17 and future rounds will take place approximately every five weeks. Both sides will try to conclude the talks by December.
A joint statement by Goyal and Trevelyan said that during the talks, both the governments will consider the option of an interim agreement, which will benefit both the countries soon.
India will seek to reduce trade barriers as well as link free movement of professionals to the UK.
UK Prime Minister Boris Johnson has said the FTA will take his country’s historic partnership with India to the next level, highlighting that sectors such as Scotch whisky, financial services and cutting-edge renewable technology will benefit from it.