NewsCase StudiesEvents

Trade Secretary to lead next round of trade negotiations on first visit to India

Also in the news...

Foreign travel advice The Gambia

Warnings and insurance Still current at: 23 April 2024 Updated: 22 April 2024 Latest update: Ferry services between Banjul and Barra have been suspended until further notice; The Islamic Summit of the OIC (Organisation of Islamic Cooperation) will be held in Banjul on 4-5 May; road closures and delays at Banjul International Airport ('Safety and security' page).

Foreign travel advice China

Warnings and insurance Still current at: 23 April 2024 Updated: 22 April 2024 Latest update: Updated information on flooding (‘Safety and security’ page).

Guidance Living in South Korea

Information for British citizens moving to or living in South Korea, including guidance on residency, healthcare, driving and more.

Guidance Living in Nigeria

Information for British citizens moving to or living in Nigeria, including guidance on residency, healthcare and passports.

Paul Beare Wins IR Global Member Of The Year

Paul Beare has been named Member of the Year at this year’s IR Global Conference in Amsterdam.

Trade Secretary to lead next round of trade negotiations on first visit to India

Back to News

Trade Secretary Kemi Badenoch will make her first visit to India to progress the Free Trade Agreement negotiations.

Published 12th December 2022

  • International Trade Secretary Kemi Badenoch travels to New Delhi to kick off sixth round of UK-India trade talks
  • Big-hitting UK brands such as Pret A Manger, Revolut and Tide announce expansion in India
  • Visit enforces UK’s strategic tilt to Indo-Pacific, home to some of the fastest-growing economies in the world

Trade Secretary Kemi Badenoch arrives in New Delhi today [Mon 12 Dec] for the sixth round of Free Trade Agreement (FTA) negotiations between the UK and India.

Badenoch will meet her counterpart, Indian Minister of Commerce and Industry Piyush Goyal, in person for the first time, aiming to strengthen ties between the two countries and reinvigorate talks on an ambitious bilateral trade deal.

She will address both teams of senior negotiators ahead of the sixth round of formal negotiations taking place throughout the week.

The talks – the first formal round since July – will target a deal to cut tariffs and open opportunities for UK services such as financial and legal, making it easier for British businesses to sell to an economy set to be the world’s third largest - with a middle class of 250 million people - by 2050.

During her visit, the Trade Secretary will also meet with business leaders to better understand their needs for a modern UK - India trade relationship. This will include a meeting with envoPAP, a UK company investing over £10 million in India to construct a plant producing Fairtrade paper and packaging products.

Secretary of State for International Trade Kemi Badenoch said:

I’m here in New Delhi to kickstart round six of UK-India trade negotiations and meet my counterpart Minister Goyal in person to drive progress on this agreement.

Both nations have come to the table with the very highest of ambitions and a willingness to work together towards a mutually beneficial deal. I’m excited about the opportunities we can create for British business.

India and the UK are the 5th and 6th biggest economies in the world. We have a long shared history, and are in pole position to do a deal that will create jobs, encourage growth and boost our £29 billion trading relationship.

Strong growth in the Indian economy is expected to boost UK exports to India by over £9 billion by the middle of the next decade, and UK businesses are already taking advantage of the flourishing trading relationship.

UK household name Pret A Manger and fintech pioneers Tide and Revolut are among those expanding in India.

British coffee and sandwich retailer Pret will open its first branch in India early in 2023 following a franchise partnership with Reliance Brands. Mumbai will be the chain’s first branch, as part of a plan to open 100 in total across the country.

Pano Christou, CEO, Pret A Manger, said:

Bringing Pret’s freshly made food and organic coffee to more people around the world is a key part of our transformation strategy, and I’m delighted to be launching Pret in India.

With strong demand for fresh food and new dining experiences, we see an exciting opportunity to grow the Pret brand across India while also adding something truly unique to its food-to-go market.

Andy Burwell, International Director at the Confederation of British Industry, said:

The UK-India FTA remains a top priority for industry. We applaud the Secretary of State and Prime Minister for listening and prioritising substance over pace.

Trade is a fundamental driver of growth and India will be an important partner and market as the UK looks to escape stagflation, attract skilled labour and deliver on the green transition.

Businesses like these could benefit from a reduction in red tape, more affordable cross-border trade, and increased opportunities to work with Indian companies and suppliers thanks to the Free Trade Agreement.

You are not logged in!

Please login or register to ask our experts a question.

Login now or register.