"We're firing the starting gun on a free trade deal with India – the world's largest democracy, fifth biggest economy, a nation of 1.4 billion people and a huge market for British goods like whisky, cars and services," UK's secretary of state for international trade Liz Truss said in a statement, according to global newswire reports.
"We want an agreement that pushes new frontiers in industries of the future and helps us build a greener, more innovative and more services-led economy that will deliver higher-paying jobs across the country," Truss added.
The latest UK step comes close on the heels of Prime Minister Boris Johnson and his Indian counterpart Narendra Modi pledging a "quantum leap" in the relationship and better cooperation between the two nations. The two leaders held a virtual meet last month, after Johnson had to cancel his India visit as the second wave of COVID-19 gripped the South Asian nation.
In 2019, UK-India trade stood at £23 billion ($33 billion). Both countries now aim to double this value by 2030. UK is one of the top markets for India's textile and clothing exports.
ALCHEMPro News Desk (RKS)
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