In first call, PM Modi, Rishi Sunak discuss early conclusion of free trade agreement
2 years, 1 month ago

In first call, PM Modi, Rishi Sunak discuss early conclusion of free trade agreement

India Today  

Prime Minister Narendra Modi was one in a series of leaders who spoke with the new prime minister of the United Kingdom, Rishi Sunak, on Thursday. The Indian premier emphasised the need for an early conclusion of the Free Trade Agreement between the two sides, which was expected to be done by Diwali by the previous administration but took a backseat after the political maelstrom that England witnessed in the past couple of months. I'm excited about what our two great democracies can achieve as we deepen our security, defence and economic partnership in the months & years ahead,” Prime Minister Sunak wrote in his tweet. A Free Trade Agreement between India and the UK is expected to enhance economic growth and prosperity by: increasing import and export flows; increasing investment flows ; enhancing productivity through a more efficient allocation of resources and greater openness to international competition. During a visit to a Scotch whisky distillery on Thursday, Kemi Badenoch, UK Trade Secretary and the Cabinet minister in charge of the FTA negotiations at the Department for International Trade, said the deal being lined up with India would bring great wins for the industry as the steep tariffs of up to 150 percent are set to be slashed.

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