New Delhi, January 13 (Agency)
India and Britain on Thursday formally started talks for a proposed free trade agreement (FTA). The agreement will help in doubling bilateral trade by 2030 and boost economic ties between the two countries. Commerce and Industry Minister Piyush Goyal on Thursday met Britain’s Minister of International Trade, Anne Marie Trevelyan, here and formally started talks on a free trade agreement (FTA). Goyal said that today the terms and conditions of the Free Trade Agreement have been finalized and both the countries have formally supported it. “We are starting formal talks for a free trade agreement,” he told reporters here. For this, representatives of both sides will maintain regular and active dialogue with each other. Britain’s International Trade Minister Anne Marie Trevelyan told the media, ‘This agreement will give a new height to the bilateral economic relationship between the two countries.’
First phase of talks from 17
The first phase of the talks will begin on January 17 and the remaining phases will be held approximately every five weeks. Both sides want to complete the talks by December 2022. Goyal said the agreement will help boost exports from India of leather, textiles, jewelery and processed agricultural products.