The UK and India will resume talks on a free trade agreement. According to a statement from the UK Department for Business and Trade, the head of the department, Jonathan Reynolds, will meet Indian Minister of Trade and Industry Piyush Goyal in New Delhi on February 24.
The statement emphasized that India is expected to experience the fastest economic growth among the G20 countries over the next five years and become the world’s third-largest economy by 2028. The UK Department of Commerce added that India’s strong middle class, which will reach 95 million people by 2035, means great opportunities for British businesses.
It is noted that the talks, which were suspended during the UK election campaign last year, will last two days. Currently, trade between the UK and India is about £41 billion ($52 billion). London and New Delhi have been working on a free trade agreement since January 2022.