Overseas Trade: India
The question
To ask the Secretary of State for Business and Trade, what steps he is taking to increase levels of trade with India.
Answered by Chris Bryant
I am delighted to say that we are deepening our trading relationship with India through the UK India Free Trade Agreement, which is estimated to boost UK GDP by £4.8bn, increase wages by £2.2bn, and grow bilateral trade by £25.5bn each year in the long run.
Every region and nation in the UK will benefit from the agreement, including a £190m boost for Scotland supported by market access for whisky, advanced manufacturing and financial services access.
We are now anticipating the deal entering into force in Spring, ahead of the planned schedule of Summer, provided final issues are resolved with India.
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