Discussions on the free trade agreement between India and the UK are on.

Out of the 26 chapters of the planned agreement, 13 chapters have already been concluded. The free trade agreement is designed to streamline trade between India and the UK and many Indian businesses are hoping it will enable them to increase exports to the UK.

India and the UK are targeting a deal to cut tariffs and open opportunities for UK services, such as financial and legal, making it easier for British businesses to sell to an economy set to be the world’s third largest by 2050.

India and the UK are the fifth and the sixth biggest economies in the world, have a long shared history and are in pole position to do a deal that will create jobs, encourage growth and boost their trading relationship. Strong growth in the Indian economy is expected to boost UK exports to India massively by the middle of the next decade and UK businesses are already taking advantage of the flourishing trading relationship.

Already India’s Tirupur’s exports of knitwear and garments to the United Kingdom are growing by 20 per cent year on year. And with the India-United Kingdom Free Trade Agreement in the offing, exports from Tirupur could see a ten per cent growth.