‘Best Deal India has ever offered’: India-UK Trade Pact was seen as a historic victory in the UK Parliament; Deal to promote GDP
The Free Trade Agreement (FTA) has concluded with India, which Britain has a “real” competitive advantage in advanced manufacturing fields, UK trade and business secretary Jonathan Renolds told the House of Commons during a debate this week.Fielding questions on the scope and benefits of the deal – agreed last month – Rrenalds described the FTA as a major economic victory for the UK and “the best deal by India is”.Reynolds said in response to British Sikh Labor MP Gurinder Singh Josan, “Advanced manufacturing … has agreed to a set of beneficial posts, this country has been put in a real competitive advantage, especially in relation to areas such as motor vehicles and machinery,” Renolds said in response to British Sikh Labor MP Gurinder Singh Josan, as PTI has given as PTI.The minister said, “India is traditionally a very conservationist economy, and it is the fastest growing big economy in the world. Whether it is for goods or services … or the West Middlelands as a whole, here is very good to celebrate,” the minister said.The UK government estimates that the deal may promote bilateral trade by GBP 25.5 billion annually over the long term. The Department of Trade and Trade (DBT) GBP estimates a GDP growth of 4.8 billion and GBP 2.2 billion wages in the next decade.The debate in Parliament is just ahead of the UK-India week, which begins as part of the India Global Forum (IGF) summit in London next week. Commerce and Industry Minister Piyush Goyal is one of the high-level speakers expected in the event.The UK-India Week will also mark the launch of the 2025 edition of ‘India Meats Britain Tracker’, an annual analysis by Grant Thornon and The Confederation of Indian Industry (CII), which maps investment in the UK from India.“Indian companies play an important role in the UK’s growth story – from employment creation to innovation. This year’s tracker has displayed their growing diversification, scale and flexibility, and shows the growing maturity and belief of the Indian enterprise on the global stage,” Grant Thornenon’s partner and prominent and prominent.“Indian businesses are no longer investing abroad – they are changing global economies,” said Manoj Ladwa, the founder of India Global Forum.According to last year’s report, a record 971 Indian-owned companies were working in the UK-a number that has continued. India and the UK are now ranked as the fourth and sixth largest economies respectively, the FTA is being seen as an important column in one of the world’s most strategic investment corridors.
