STORY
The United Kingdom and India have announced a series of trade and investment agreements totalling £400 million, aiming to bolster economic growth and strengthen bilateral ties. This development emerged from the 13th UK-India Economic and Financial Dialogue (EFD) held in London on April 9, 2025. Chancellor Rachel Reeves and Indian Finance Minister Nirmala Sitharaman led the discussions, resulting in a joint statement that unlocks cooperation across various sectors, including defence, financial services, education, and development. The agreements comprise £128 million in new export deals and investments, supplemented by recent deals worth £271 million.
A notable highlight is Paytm, India’s largest digital payment app, announcing plans to invest in the UK to enhance access to affordable digital payments and credit for small businesses. Chancellor Reeves emphasised the importance of these agreements in the context of global economic challenges, stating, “In a changing world, it is imperative we go further and faster to kickstart economic growth.” She underscored the government’s commitment to negotiating trade deals that support British businesses and enhance economic security.
The EFD also facilitated discussions on advancing a Free Trade Agreement and a Bilateral Investment Treaty between the UK and India. Both nations expressed optimism about finalising these agreements, with approximately 90% of the Free Trade Agreement reportedly settled. Key areas of focus include reducing tariffs on UK exports such as whisky and automobiles, and improving market access for British professional services. Business and Trade Secretary Jonathan Reynolds highlighted the significance of these developments, noting that they reflect a shared ambition to deepen cultural and trading ties. He emphasised that the agreements are expected to create new opportunities, support jobs, and attract investment in both countries.