Export credit for India DOUBLED by UK Government
UK companies exporting to India as well as Indian buyers of UK goods and services will now get a support of 4.5 billion pounds.
Suresh Prabhu (Commerce and Industry Minister) held talks with Britain's Secretary of State for International Trade, Liam Fox, in London as part of the 12th meeting of the UK-India Joint Economic and Trade Committee (JETCO) to discuss greater cooperation between the two countries and identify barriers to trade and investment.
Dr Fox said: “For the first time in 40 years, the UK is preparing for its own independent trade policy, and expanding our bilateral trade and investment with India will be central to that task. It’s in our shared interest to boost prosperity, generate jobs, develop skills, and enhance the competitiveness of both our countries”
According to the UK’s Department for International Trade (DIT), the India-UK trade was worth 15.7 billion pounds in 2016, with UK exports amounting to 5.8 billion pounds. In 2016, UK investment in India was 13.2 billion pounds versus India’s 1.5 billion pounds in UK.
There is huge potential to expand bilateral trade and investment as the UK prepares to leave the European Union (EU), the DIT said.
The Institute of Export & International Trade have a handy guide to doing business is India, you can view this here.