Foreign Investment in UK: India
The question
To ask the Secretary of State for Business and Trade, what assessment his Department has made of the potential impact of the UK-India free trade agreement on levels of investment in (a) Bedfordshire, (b) the East of England and (c) the UK.
Answered by Mr Douglas Alexander
This comprehensive agreement is expected to boost increase bilateral trade by £25.5 billion, increase UK GDP by £4.8 billion and boost wages by £2.2 billion each and every year in the long run.
This deal is expected to make trade between the UK cheaper and easier, which could encourage more businesses to expand and invest. In the East of England, science and technology hubs like Bedford will benefit from reduced tariffs on technologies such as medical devices, alongside improved customs processes.
We will set out further information on the regional impacts of this agreement in our Impact Assessment.
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