Referring to International Trade minister Anne-Marie Trevelyan, the Foreign Secretary tweeted: “Good call with @DrSJaishankar ahead of @annietrev visiting India this week for trade talks. “We discussed: Boosting trade between UK and India; Pipeline of new projects for British International Investment; Closer defence and security cooperation.”
Gaurav Singh, founder of startup investment bank JPIN, believes such a UK/India deal could be worth £100 billion with the world’s fifth largest economy.
He told Express.co.uk: “India is one of the world’s largest economies and presents huge potential as a key partner for trade and investment for the UK.
“India is a 21st century powerhouse and creating a strong UK-India trading relationship will help to fuel economic recovery in a post-Brexit, post-Covid UK.”
He added: “India and UK have been working to improve trade and it can really allow the UK to benefit from the immense growth India is about to experience in the coming decade.
“A trade deal with India could be worth as much as £50-100 billion, given India was a top two FDI source for UK and UK has been a top six investor into India.
“A trade deal will open the door to 1.3 billion potential customers for UK businesses, and provide opportunities for business improvement, consolidation, foreign expansion and diversification in a rapidly growing market.
“India is a top priority for good reason – it is growing exponentially and will be the centre of world trade in the coming decades, and building a trading relationship here is particularly important.”
(More to follow)