Indiauk Parliamentary Dialogue Focuses On Trade, Investment & CETA Benefits

(MENAFN- KNN India) New Delhi, Mar 19 (KNN) The Department-Related Parliamentary Standing Committee (DRPSC) on Commerce held discussions on Wednesday with a delegation from the UK Parliament's Business and Trade Committee at the Parliament House, focusing on strengthening bilateral trade and economic cooperation.

The UK delegation was led by Liam Byrne, Chair, UK Parliament's Business and Trade Committee, while the Indian side was chaired by DRPSC (Commerce) Chairperson Dola Sen.

During the interaction, the Committee noted the recent signing of the India–UK Comprehensive Economic and Trade Agreement (CETA), expressing confidence that the pact could significantly boost bilateral trade and deepen economic engagement.

Key Issues Raised

Sen highlighted the need for a level playing field for importers and exporters, noting that tariff structures do not always favour Indian businesses. She also emphasised the importance of supporting labour-intensive, eco-friendly and agro-based industries, given India's agrarian economy.

The Committee underlined India's large consumer market and attractiveness as an investment destination due to the availability of labour, land, and infrastructure, while stressing the need for adherence to domestic laws and labour regulations.

Byrne emphasised the shared objective of ensuring that the agreement delivers tangible benefits and promotes economic prosperity for both countries.

Trade and Investment Trends

The Committee observed that India is the UK's 11th largest trading partner, while the UK ranks as India's 14th largest. The United Kingdom is also the sixth-largest investor in India.

It further noted that Indian investments in the UK remained strong, with 106 projects generating over 6,000 jobs in 2024–25, maintaining India's position as the second-largest source of foreign direct investment in the UK after the United States.

(KNN Bureau)

MENAFN19032026000155011030ID1110884602