UK Labour Government Accelerates India FTA Negotiations

The UK’s newly elected Labour government has announced plans to expedite Free Trade Agreement (FTA) negotiations with India. Business and Trade Secretary Jonathan Reynolds emphasized the focus on boosting economic growth and job creation. The Department for Business and Trade (DBT) aims to align its trade strategy with industrial and net zero goals.

The UK's newly elected Labour government is moving quickly to resume Free Trade Agreement (FTA) negotiations with India, according to Business and Trade Secretary Jonathan Reynolds. The initiative forms a core part of the government's strategy for economic growth and job creation.

Reynolds articulated his department's approach to focusing on economic growth in international trade deals, aiming to secure high-quality agreements that offer British businesses enhanced access to global markets. He confirmed that negotiating teams would return to the table as soon as possible.

The Department for Business and Trade also plans to publish a comprehensive trade strategy to align with the government's industrial and net-zero ambitions. The pressing need for economic cooperation was underscored by Foreign Secretary David Lammy's recent visit to India and comments from Tata Sons' Chairman, Natarajan Chandrasekaran.

(With inputs from agencies.)