Finance & Economy

India- UK Agree To Make More Progress On FTA

Published: February 28, 2023

The British government announced on Saturday that India and the United Kingdom have agreed to make further progress on ongoing negotiations for a free trade agreement (FTA) and to hold the next bilateral Economic and Financial Dialogue as soon as possible. The UK Treasury department stated that at the conclusion of UK Chancellor Jeremy Hunt’s India visit for the G20 Finance Ministers and Central Bank Governors meeting, held under India’s 2023 Presidency, the finance minister held talks with Indian counterpart Nirmala Sitharaman with a focus on deepening bilateral economic and financial ties.

Hunt also met with business leaders in Bengaluru and visited the offices of tech multinational Wipro, which employs over 4,000 people in the UK, during his first international visit as UK Chancellor.

“Meeting with other Finance Ministers” face to face is an excellent opportunity to make real progress on our time’s most pressing global economic issues “Hunt stated.

He added that the upcoming Spring Budget of the Rishi Sunak-led government on March 15 will “drive economic growth, focusing on skills, business and infrastructure investment and research and innovation, as well as reviewing regulations of the UK’s key growth industries”.

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