PTI

London, January 21

Negotiations between Britain and India for an bold Free Trade Agreement (FTA) are “well advanced”, with the subsequent spherical of talks set to start very quickly, a UK Foreign Office minister advised friends in a debate in Parliament right here, asserting {that a} sturdy deal might increase the nation’s financial system.

Lord Tariq Ahmad, the UK Foreign Office Minister for South Asia, stated Britain’s relationship with India is central to its international coverage and as one of many world’s greatest economies it’s a key companion.

Ahmad was responding to the controversy entitled ‘The Importance of the Relationship between the United Kingdom and India’ within the House of Lords on Thursday, tabled by British Indian peer Baroness Sandy Verma.

He confirmed that negotiations for a bilateral free commerce settlement (FTA) are “well advanced”, with the subsequent spherical of negotiations set to start very quickly.

“It is true that, as we set up and strengthen this relationship, the United Kingdom’s relationship with India is central to UK foreign policy,” stated Ahmad.

“As one of the world’s biggest and fastest-growing economies, India is a key partner to the UK…We are also looking at lowering non-tariff barriers on medical devices to benefit British exporters, and are well advanced in our negotiations for an ambitious and balanced free trade agreement,” he stated.

A powerful commerce take care of India might increase the UK financial system by billions of kilos over the long run, serving to households throughout the nation, he stated.