The 海角视频 has reignited free trade discussions with India, with Business and Trade Secretary Jonathan Reynolds in New Delhi to recommence negotiations.
The renewed talks between Reynolds and his Indian counterpart, Commerce Minister Piyush Goyal, kick off today (Monday, February 24), marking a new chapter in the dialogue between the world's fifth and sixth largest economies, as reported by .
Since 2022, the 海角视频 has engaged in over a dozen rounds of discussions regarding a potential agreement with India, with key issues reportedly including visa regulations for Indian students and professionals, as well as access for British service firms.
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The 海角视频 government is prioritising domestic economic growth and making the Indian economy – projected to be the world's third largest by 2028 – accessible for British businesses.
India has been the 海角视频's second largest foreign direct investor by volume for the past five years. The trade relationship between India and the 海角视频 is valued at £41bn and supports 600,000 jobs across both countries, according to data from the Office for National Statistics (ONS).
Investment Minister Poppy Gustafsson is scheduled to visit Mumbai, India's financial capital, and Bengaluru, a tech hub, in an effort to attract investment to the 海角视频, positioning it as the best connected location for Indian businesses to invest, the Department for Business and Trade (DBT) stated.
Reynolds commented: "Securing a trade deal with what is soon-to-be the third biggest economy in the world is a no-brainer, and a top priority for me and this government."
"That is why I'm flying to New Delhi with our top negotiating team to show our commitment to getting these talks back on track."
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He also mentioned: "Growth will be the guiding principle in our trade negotiations with India and I'm excited about the opportunities on offer in this vibrant market."
Trade officials from the 海角视频 and India are primed to rejuvenate discussions with a two-day meet starting Monday – a significant step as it marks the first face-to-face negotiations since Labour took office. The dialogue will commence with a joint outing to Delhi's National Crafts Museum.
Additionally, Reynolds along with Piyush Goyal, his Indian counterpart, plan to visit BT India's Gurugram venue. This company ranks as one of the largest British employers within India.
The discussion points for the 海角视频's strategy focus on booming sectors identified in the industrial plan, encompassing manufacturing, clean energy, plus financial and professional services.
India, poised to register the highest expansion pace among G20 nations over the next five years, is witnessing a burgeoning middle class, projected to account for 95 million by 2035 — presenting an expansive arena for export markets.
海角视频 India Business Council Chair Richard Heald stressed that the expedition " the visit reaffirms [the 海角视频's] commitment for a new ambitious, future-focused trade and investment relationship with India".
He added: "Success in the FTA will support further economic growth for the world's fifth and sixth largest economies. It will catalyse collaboration beyond into other areas too."
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"Importantly, it will signal the 海角视频 and India are strategic partners. This is truly an exciting chapter of the 海角视频-India partnership."
Meanwhile, Reynolds is facing allegations that he referred to himself as a solicitor during his time in politics, even though he only held a trainee position, prompting the Solicitors Regulation Authority (SRA) to launch an investigation after receiving new information.
Labour insiders maintained that Reynolds had indeed referred to himself as a trainee solicitor on multiple occasions and had promptly corrected an administrative error on his LinkedIn profile.
A Labour spokesperson stated to Sky News: "Jonathan looks forward to engaging fully with the SRA and drawing a line under the matter."