At the moment, the UK conducts £23bn of trade – exports plus imports – with India every year, supporting more than half a million jobs across the two countries. In comparison, UK exports to the EU totalled £293bn. Overall, the deals are expected to create 6,500 jobs in Britain and contain more than £533m of new Indian investment into the UK. Ruth Gregory, UK economist at the consultancy Capital Economics, said: “The government’s announcement of an extra £1bn of UK-India trade investment and the ambition to begin work towards a comprehensive free trade agreement is welcome news. Proposed trade agreements between India and the EU, Australia and New Zealand over the past decade have all stalled.

Source: The Guardian May 04, 2021 16:30 UTC