UK-India Trade Ties: 17 Deals and Insurance FDI Opening
Why in the news
Two UK ministers visited India to deepen economic ties; the talks could help speed up the India-UK Free Trade Agreement (FTA) negotiations.
Key facts
- Visitors: Trade Secretary Jonathan Reynolds and Investment Minister Poppy Gustafsson.
- Deals: 17 new export and investment agreements announced; specifics not yet released.
- UK tech: the UK technology sector in India is the world’s third largest; UK technology and life sciences firms plan to expand.
- Insurance: FDI cap raised from 74% to 100%, letting British insurers own and grow operations.
- Indian investment in the UK: above £100 million in AI, professional services and textiles, creating hundreds of jobs over three years.
Business links
| Item | Number |
|---|---|
| Indian-owned companies in the UK | More than 950 |
| UK firms in India | 650 |
| Jobs supported in both economies | Over 600,000 |
Exam angle
- Insurance FDI limit: 100% (earlier 74%).
- Pact under negotiation: India-UK FTA.