India-UK Free Trade Agreement Poised to Boost Key Export Sectors

The India-UK free trade agreement aims to enhance India's exports in sectors like leather, textiles, and IT services. With ongoing negotiations seeking a commercially beneficial deal, this pact could positively impact both goods and services exports, addressing stakeholders' needs and concerns.

The proposed free trade agreement with the United Kingdom is anticipated to significantly enhance India's export performance across various sectors such as leather, textiles, jewellery, marine, and processed agricultural products, as informed to the Indian parliament on Friday.

Minister of State for Commerce and Industry, Jitin Prasada, conveyed through a written response in the Rajya Sabha that the agreement holds substantial promise for boosting exports in service sectors like IT and IT-enabled services as well.

Ongoing negotiations strive to finalize an equitable and commercially advantageous trade deal, taking into account the diverse needs and concerns of stakeholders. Initiated on January 13, 2022, fourteen rounds of discussions have occurred so far.

(With inputs from agencies.)