Home / Knowledge / News / Textiles / India, UK ready for talks on limited trade deal

India, UK ready for talks on limited trade deal

Jul '20
Pic: Shutterstock
Pic: Shutterstock
India and the United Kingdom are exploring a limited trade agreement to lower tariffs on a few goods and easing rules for select services in what is being widely perceived as preparing ground for a free trade agreement (FTA). The issue was recently discussed by the Joint Economic and Trade Committee (JETCO), co-chaired by commerce and industry minister Piyush Goyal and the UK secretary of state (SoS) for international trade Elizabeth Truss.

“Minister Goyal and SoS Truss affirmed their shared commitment to a FTA and towards that, early harvest deals in a staged manner,” an official statement said.

The Indian government is reportedly looking at a time frame of around a year to clinch the early harvest agreement with junior trade minister Hardeep Puri and his UK counterpart Ranil Jayawardena scheduled to hold monthly meetings to intensify the dialogue.

The United Kingdom is also eager to clinch bilateral trade deals after Brexit and India wants to make the most out of it as its garment makers and several other labour-intensive sectors often get an unfavourable deal compared to counterparts from Bangladesh and other rivals.

The UK India Business Council has welcomed the development.

Following the JETCO, UKIBC managing director Kevin McCole said: ‘The enhanced trade partnership announced today, setting the path to a UK-India FTA, is an important signal that both the UK and India are committed to deepening an already strong partnership. It is also important that the governments are retaining their sharp focus on tackling market access barriers, which will not only expand bilateral trade and investment, but build confidence and momentum towards an FTA.”

Fibre2Fashion News Desk (DS)

Must ReadView All

Pic: Shutterstock

Textiles | On 16th Jun 2021

EU, US agree to end 17-year dispute over aircraft subsidies

The EU and the US have agreed to end a 17-year dispute over aircraft...

Pic: Shutterstock

Textiles | On 16th Jun 2021

UK GDP grows 2.3% in April 2021; fastest since July 2020

As government restrictions affecting economic activity continued to...

Pic: Shutterstock

Textiles | On 16th Jun 2021

Prime Content| Global fabric trade to recover moderately in 2021: TexPro

Global fabric exports are expected to recover moderately in 2021 as...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Next level is to inject new features:

Textile Industry, Head honchos

Textile Industry
Head honchos

There was a certain switch, but it was not 100% pandemic related

Textile Industry, Head honchos

Textile Industry
Head honchos

Good tidings expected for textile industry

Dhruv Toshniwal & Udit Toshniwal,

Dhruv Toshniwal & Udit Toshniwal

Launched a year ago, Fashions Pvt Limited conceptualises and sees D2C...

Gus Bartholomew,

Gus Bartholomew

<b>Gus Bartholomew</b>, co-founder of SupplyCompass, explains to <b>Subir...

Benedetta Terraneo,

Benedetta Terraneo

Miko Srl, a subsidiary of US-based Sage Automotive Interiors and a member...

Daniel Odermatt, Ventile

Daniel Odermatt

Ventile is a registered trademark used to brand a special high-quality...

Dr Anup Rakshit, ITTA

Dr Anup Rakshit

The Indian Technical Textile Association (ITTA) is the only association of ...

Karan Bose, Hula Global

Karan Bose
Hula Global

Hula Global, a leading isolation gown manufacturer in India, has been...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

June 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Advanced Search