India, U.K. resolve to lower trade barriers

India, U.K. resolve to lower trade barriers

What has happened?

India and the U.K. on Wednesday decided to build on the recommendations of a joint trade review to reduce barriers. At his meeting with his British counterpart Theresa May, Indian Prime Minister Narendra Modi pledged that there would be no dilution in the importance of the U.K. to India post-Brexit.

Modi offers to discuss freetrade agreement

• India ready to commence negotiations on a free trade agreement based on “mutual benefit.”
• In an oblique reference to the cases of Vijay Mallya and Lalit Modi, the Prime Minister also discussed “consular issues including the issue of economic offenders”
• The two sides also signed a statement of shared values, emphasising support for a “global outlook and commitment to a rules-based international system”