With FTA, Diwali To Bring Prosperity In India-UK

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By: TNI Team
Updated: 29 April, 2022 12:38 am IST

NEW DELHI: UK Secretary of State for International Trade Anne-Marie Trevelyan hoped that the Free Trade Agreement with India would be readied by Diwali.

Trevelyan was replying to a query about the timeline announced by UK Prime Minister Boris Johnson during his visit to India last week at a House of Commons International Trade Committee meeting. “Diwali seems like a good landing point,” she said according to agency reports.

Last week, during his first state visit to India, UK PM Boris Johnson said, “We aim to have a new Free Trade Agreement by Diwali… We appreciate the tariffs being dropped by India on certain goods and commodities and in return, we too are dropping some tariffs we levy. We also look forward to the close cooperation shared between the UK’s NHS and India’s health services.”

Trevelyan and Union Minister of Commerce and Industry Piyush Goyal jointly launched the talks for the “deepest trade deal” FTA in January. The deal is all set to boost the two giant economies. Bilateral trade is expected to touch the $100 billion mark by 2030 between the trading nations. The deal is all set to bring fortune to the exporters of items including jewellery, leather, textile, marine and processed Agri products from India.

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