Thank you for contacting me about trade negotiations with India.
A UK-India Free Trade Agreement (FTA) would be a substantial opportunity for both economies and a significant moment in our bilateral relationship, which Ministers across HM Government are working hard to strengthen in the decade ahead. Trade negotiations are underway, with the fifth round of talks having concluded on 29 July 2022.
India is one of the world’s biggest and fastest-growing economies. A bold FTA would put UK businesses at the front of the queue to supply India’s growing middle class, forecast to increase to a quarter of a billion consumers by 2050. By which time, India will be the third largest economy in the world, with a bigger population than the US and EU combined.
The size and growth of the Indian economy means a deal would unlock opportunities in every nation and region of the UK and across all parts of our economy. Tens of thousands of UK jobs are already supported by trade with India, and an FTA has the potential to almost double UK exports to India, boost our total trade by as much as £28 billion a year by 2035, and boost wages across the UK by as much as £3 billion.
The Government ran a consultation on its intent to negotiate an FTA with India in 2021 to help determine its negotiating priorities and to allow business, Non-Governmental Organisations and the public to have their say. On 13 January, the Government published its negotiating strategy, informed by the 283 responses received to the consultation.
Protecting the NHS is a fundamental principle of the UK's trade policy. In any trade deal, including with India, the Government has been clear that the NHS, the price it pays for drugs and the services it provides to its patients will not be on the table. No trade agreement could change the fact that it is for the UK Government and devolved administrations to decide how to run our health services.
Thank you again for taking the time to contact me.