Fri Nov 22 22:41:00 UTC 2024: ## UK and India to Relaunch Free Trade Agreement Negotiations

**London, November 23, 2024** – The United Kingdom and India will relaunch negotiations for a Free Trade Agreement (FTA) early next year, Prime Minister Keir Starmer announced Thursday. The announcement, made following the G20 Summit in Brazil, signals a renewed commitment to boosting bilateral trade, currently estimated at £42 billion annually.

Starmer stated that he had a “good discussion” with Indian Prime Minister Narendra Modi, agreeing to reinvigorate the FTA talks, which were paused due to general elections in both countries. The negotiations, initiated under the previous Conservative government, will now continue under the Labour administration.

The UK’s Business and Trade Secretary, Jonathan Reynolds, emphasized the significance of the deal, highlighting India’s position as the world’s fifth-largest economy and a crucial trading partner. He indicated that the UK believes a mutually beneficial agreement is achievable. The UK’s Department for Business and Trade is also preparing to release a new Trade Strategy to guide future negotiations.

The UK India Business Council (UKIBC) reports that substantial progress has already been made across numerous chapters of the FTA during the previous 13 rounds of talks. The Indian Commerce and Industry Ministry has confirmed that discussions will resume, building upon existing progress to finalize the deal swiftly. Both governments are optimistic that the FTA will stimulate economic growth and create jobs in both nations.

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