UK set to double trade with India by 2030 under new partnership
The UK government is set to double trade with India under plans for a new international partnership.
UK Prime Minister Boris Johnson will hold a virtual meeting with Indian Prime Minister Narendra Modi today (May 4) to explore a deeper relationship between the UK and India across trade, health, climate and defence.
The two leaders aim to agree an Enhanced Trade Partnership in a bid to unlock new opportunities for British and Indian businesses, as well as committing to negotiate a UK-India Free Trade Agreement (FTA).
It is hoped that the partnership and FTA will double trade between the two countries as well as supporting hundreds of thousands of jobs.
Prime Minister Boris Johnson commented: “Like every aspect of the UK-India relationship, the economic links between our countries make our people stronger and safer.
“In the decade ahead, with the help of the new Partnership signed today and a comprehensive Free Trade Agreement, we will double the value of our trading partnership with India and take the relationship between our two countries to new highs.
Alex Ellis, High Commissioner to India, added: Trade and investment between the UK and India is already significant, creating jobs and growth in both countries.
“Today our Prime Ministers have set an ambitious target of doubling trade by 2030 and announcing £1bn of new trade and investment. I will work tirelessly with our Indian friends and partners in the public and private sector to fulfil our leaders’ ambition.”
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