Indian Economy News

India-UK FTA is focused on what is acceptable to both sides: Mr. Piyush Goyal

  • IBEF
  • January 25, 2023

Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Mr. Piyush Goyal stated that the discussions for the proposed free trade agreement (FTA) between India and the UK are focussed on what is acceptable to both countries.

India's exports stood at US$ 10.5 billion in 2021-22, while imports were US$ 7 billion, according to Press Trust of India (PTI) reports. Last year, negotiations with the UK started with an aim to boost bilateral trade and investments. India also concluded the sixth round of talks recently with the UK and the next round will be held soon.

According to the official data from the UK government, India and the UK currently trade for about US$ 36.39 billion (GBP 29.6 billion) annually.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.