Trade relationship between the United Kingdom and India is not expected to be affected after Brexit, said the British Trade Commissioner to South Asia Crispin Simon.
Simon told sources that “Bilateral trade between Britain and India stands at USD 25 billion. India is an important trading partner and after Brexit, it is not to be affected.” Britain had been permitted to develop new trading arrangements outside the EU following Brexit, added Mr. Simon.
The bilateral trade between India and the UK was growing at 17 percent per annum, said Simon adding that “there is a nice momentum.
However, the balance of bilateral trade was in favor of the United Kingdom, “the new trade deal will have a positive effect.” The sectors of bilateral trade between the two nations are finance, technology, and renewable energy for which green finance was made available, added the British Trade Commissioner. He further claims that USD 13 billion were imported to India, which the export from the country was USD 12 billion.
Crispin Simon said that “there is demand for green finance in India.”