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Badenoch will meet his counterpart Commerce and Industry Minister Piyush Goyal in person for the first time, with the aim of strengthening ties between the two countries and reviving talks on an ambitious bilateral trade deal.
He will address both teams of senior negotiators ahead of the sixth round of formal talks to be held during the week.
The talks – the first formal round since July – will target a deal to cut tariffs and open up opportunities for UK services such as financial and legal, making it easier for British businesses to sell to the world’s third-largest economy – with a middle class of 250 million people – by 2050. During her visit, the Trade Secretary will also meet with business leaders to better understand their needs for a modern UK-India trade relationship. This will include a meeting with envoPAP, a UK company investing over £10 million in India to build a plant producing Fairtrade paper and packaging products.
Secretary of State for International Trade Cammy Badenoch said: “I am here in New Delhi to launch the sixth round of UK-India trade talks and meet my counterpart Minister Goyal in person to make progress on this agreement. Both nations have come to the table with high ambitions and a willingness to work together for a mutually beneficial deal. I am excited about the opportunities we can create for British business.
India and the UK are the fifth and sixth largest economies in the world. We have a long shared history, and we are in pole position to strike a deal that will create jobs, spur growth and boost our £29 billion trading relationship.”
Strong growth in the Indian economy is expected to boost UK exports to India by more than £9 billion by the middle of the next decade, and UK businesses are already taking advantage of the growing trade relationship.
UK household names Pret A Manager and fintech pioneers Tide and Revolt are among those expanding into India.
British coffee and sandwich retailer Pratt will open its first branch in India in early 2023 following a franchise partnership with Reliance Brands. Mumbai will be the chain’s first branch as part of plans to open a total of 100 across the country.
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