The UK-India partnership is already strong. In 2019, trade between our countries hit £24 billion, up by almost 10% in just one year. We also have a robust investment relationship, with British and Indian investments supporting over half a million jobs in each other’s economies. The UK has been the second-fastest growing G20 investor in India over the last ten years, driving investment over £21.48 billion. Even before the coronavirus hit, the UK was India’s second largest research partner and joint research will be worth £400 million by next year.
The steps for strengthening this partnership were discussed at the UK-India Joint Economic Trade Committee (JETCO) held in July. Both countries, represented by international trade secretary Liz Truss and commerce and industry minister Piyush Goyal, agreed to an Enhanced Trade Partnership with a road map to a potential free trade agreement (FTA) in the future.
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