UK International Trade Secretary Liz Truss in India to seal £100bn trading historic deal – UKMALAYALEE

UK International Trade Secretary Liz Truss in India to seal £100bn trading historic deal

Sunday 7 February 2021 8:18 PM UTC

LONDON Feb 7: The UK is eyeing a new Brexit trade worth as much as a dizzying £100bn – with one expert suggesting Britain was in prime position to reap the benefits of a link up with the world’s second-most populous country.

International Trade Secretary Liz Truss is holding talks with her opposite number, India’s commerce and industry minister, Piyush Goyal, in India’s capital of New Delhi. Last night she tweeted: “Excellent to meet @PiyushGoyal and business leaders to identify opportunities to deepen trade and investment. Looking forward to further talks tomorrow.”

Mr Goyal tweeted: “Delighted to host India’s first physical trade meeting post COVID-19 with Rt Hon’ble @TrussLiz, Secretary of State for International Trade, UK.

“India and UK share deep trade & investment ties, and will continue working together to enhance our partnership.”

Gaurav Singh, Founding Partner at venture capitalists JPIN VCATS, told “A UK-India trade deal is set to be worth £50-100 billion – on top of the £24 billion trading relationship that is already in place.
“It’s exciting to see Liz Truss and Mr Goyal set out details around an Enhanced Trade Partnership, and hopefully, an India-UK free trade agreement (FTA) in the future.”

Mr Singh added: “India’s economy is on track to grow substantially over the next decade, and it’s crucial that a post-Brexit UK benefits from the country’s growth, with a closer UK-India relationship, and eventually a free trade agreement.

“Truss should go into these talks with an open mind, and the aim to come out with a strong ally in India – building up to a trade deal further down the line.”