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India– UK Bilateral Trade An Assessment for Future Cooperation

Author

Listed:
  • Biswajit Nag

    (Indian Institute of Foreign Trade (IIFT), Delhi, India)

  • Amrita Saha

    (Institute of Development Studies, University of Sussex, UK)

  • Pooja Maurya

    (Indian Institute of Foreign Trade (IIFT), Delhi, India)

Abstract

India and the UK is currently engaged in a trade negotiation aiming to foster multidimensional partnership between them. In this backdrop the current study has made a brief assessment of trade and investment scenario. It uses both quantitative and qualitative tools to identify major products of interest, opportunities and challenges faced by businessmen both sides. Using standard quantitative tools, the paper looks into issues such as competitiveness, trade margins, products with high comparative advantage, complementarity and perception of quality of products exported. Further, discussion with companies, chambers and associations it identifies major bottlenecks for improving trade relations and new sectors with high opportunities. India enjoys a positive trade balance with the UK. It is one of the major sources of investment projects for the UK, while the UK is the sixth-largest investor in India. The economic relationship between India and the UK has strong potential for growth in both trade in goods and trade in services in future. Their partnership is poised to create shared prosperity and deliver leadership in global economic governance.

Suggested Citation

  • Biswajit Nag & Amrita Saha & Pooja Maurya, 2024. "India– UK Bilateral Trade An Assessment for Future Cooperation," Working Papers 2473, Indian Institute of Foreign Trade.
    • Handle: RePEc:ift:wpaper:2473
    as

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    File URL: ftp://203.190.248.10/RePEc/ift/workingpapers/EC-24-73.pdf
    File Function: First version, November , 2024
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