UK ministers are starting fresh negotiations with India for a significant free trade agreement, essential for boosting the currently stagnant UK economy. Business and trade secretary Jonathan Reynolds is meeting Indian counterpart Piyush Goyal, marking the restart after a pause. Past efforts have yielded minimal results, and Reynolds asserts that a viable deal is crucial for British businesses looking to leverage India’s massive market. The potential benefits include improved access to various sectors and enhanced trade relations, reflecting the importance of this opportunity for both nations' economies.
Reynolds emphasized that successful trade negotiations with India would provide British businesses with practical benefits, aiming to cut costs and expand into a massive market.
Malik noted that a trade deal could significantly enhance access to India's consumer market and foster opportunities across various sectors like manufacturing and finance.
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