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India- UK trade deal.

 


According to India's top trade official, talks with the UK regarding a trade agreement are progressing well, despite obstacles related to temporary work visas and the opening up industries like automotive and spirits. The Commerce and Industry Minister, Piyush Goyal, explained that India is seeking transition periods or greater market access in specific sectors due to its economy, which is slightly larger than the UK's and expected to outgrow it in the coming decades. If a trade deal is reached, it would be one of the most significant agreements for Britain since leaving the EU, and it would also be necessary for India, which surpassed the UK as the fifth-largest economy last year. Goyal stated that India aims to increase its economy from $3.5tn to $35tn by 2047, the country's centenary of independence.


According to officials and diplomats in India, talks about a proposed trade deal may be finished by early September, just in time for the G20 summit in New Delhi. Nigel Huddleston, the international trade minister, is currently in India to discuss the potential benefits of a trade agreement with businesspeople. Indian Minister Piyush Goyal has confirmed that India is already issuing visas to British businesspeople, giving them access to an economy growing 6-7% annually. According to officials and diplomats in India, talks about a proposed trade deal may be finished by early September, just in time for the G20 summit in New Delhi. Nigel Huddleston, the international trade minister, is currently in India to discuss the potential benefits of a trade agreement with businesspeople. Indian Minister Piyush Goyal has confirmed that India is already issuing visas to British businesspeople, giving them access to an economy growing 6-7% annually.

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