India-UK EFD Boosts Trade Amid FTA Hopes

The 13th Ministerial India-UK Economic and Financial Dialogue concluded with a focus on enhancing trade through a Free Trade Agreement (FTA). Both nations seek to reduce tariff barriers and boost investment, reflecting a strong bilateral commitment. Investment announcements worth GBP 400 million were highlighted.

The 13th Ministerial India-UK Economic and Financial Dialogue (EFD) concluded in London with both countries expressing optimism about finalizing a Free Trade Agreement (FTA). After discussions led by Finance Minister Nirmala Sitharaman and Chancellor Rachel Reeves, both sides were eager to expedite the FTA negotiations.

A joint statement from the dialogue showcased a GBP 400 million boost in trade and investment, involving Indian firms like Paytm and Mphasis. The dialogue also outlined plans to enhance growth, financial services ties, and policy cooperation. Defence collaboration and education were also noted, with plans for UK university facilities in India.

The dialogue emphasized reducing trade barriers and sustaining economic growth through deeper partnerships. Significant investment announcements both ways highlighted the intent to strengthen economic resilience, with GBP 128 million in new commercial deals and GBP 271 million in existing deals.

(With inputs from agencies.)