UK-India Bilateral Trade Increases 27% Over Last Three Years

Union Minister of Commerce & Industry and Railways Piyush Goyal and Secretary of State for International Trade of the UK, Dr Liam Fox, met in London for the 13th meeting of the India-UK Joint Economic and Trade Committee (JETCO) on 15th July 2019. At the end of the meeting a Joint Statement was issued, which highlighted growing bilateral trading relationship between the nations. UK-India trade continues to increase, over the last three years, between 2015-2018, total trade between the UK and India has increased by 27%. India and the UK have a shared interest in continuing to develop this important relationship to further our own and wider international prosperity.

Both the nations are looking to the future and reiterated our commitment to a dynamic new India-UK Trade Partnership announced in April 2018, expanding joint work to reduce barriers to trade as the UK assumes responsibility for its independent trade policy. Both sides are exploring the building blocks that would allow for more ambitious trade arrangements in the future. The statement welcomed the progress made by the Joint Working Group on Trade to implement the recommendations of the India-UK Joint Trade Review agreed at the 12th We noted the establishment of government-to-government dialogues on food and drink, information communications technology (ICT), life sciences and services statistics.

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