UK Trade Minister Liam Fox to meet Nirmala Sitharaman on Nov 7, free trade agreement talks on the cards

India received USD 23.10 billion FDI from Britain between April 2000 to March 2016.

By: PTI | New Delhi | Published:November 4, 2016 8:41 pm
UK Trade Minister Liam Fox, Uk and India, Industry Minister Nirmala Sitharaman, India UK trade agreement, India UK free trade agreement, India UK news, Latest news, India news, latest news Union minister Nirmala sitharaman (above). India is already negotiating a comprehensive free trade agreement with the EU, and after the Brexit, it will have to rework its strategy of negotiations. (express photo by Prem Nath Pandey)

Possibility for an India-UK free trade agreement is likely to figure in the meeting of Commerce and Industry Minister Nirmala Sitharaman and UK Secretary of State for International Trade Liam Fox on November 7. Both sides will also deliberate on ways to strengthen bilateral trade and economic ties, an official said.

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The ministers met in New Delhi last time in August. Then, India and the UK deliberated on the possibility of negotiating a free trade agreement.

Sitharaman had stated that the UK is very keen on deepening economic ties with India.

The Joint Economic and Trade Committee (JETCO) of India and UK is also expected to meet next week.

India is already negotiating a comprehensive free trade agreement with the EU, and after the Brexit, it will have to rework its strategy of negotiations.

The bilateral trade between India and the UK stood at USD 14 billion in 2015-16 as against USD 14.33 billion in 2014-15.

India received USD 23.10 billion FDI from Britain between April 2000 to March 2016.