The proposed free trade agreement with the UK is expected to boost India’s exports in various sectors, including leather, textile, jewellery, marine and processed agri products, parliament was informed on Friday. In a written reply to the Rajya Sabha, Minister of State for Commerce and Industry Jitin Prasada said the pact has great potential for increasing exports in service sectors like IT/ITES.
In negotiations with the UK, both sides aim to conclude a fair, equitable, mutually beneficial and commercially meaningful trade deal, which takes into consideration the needs and concerns of all the stakeholders.
“The proposed trade deal with the UK is expected to increase India’s exports in various sectors, including Leather, Textile, Jewellery, Marine and processed Agri products,” he said.
The India-UK Free Trade Agreement negotiations were launched on January 13, 2022. 14 rounds of negotiations have been held so far.
