UK Chancellor, Finance Minister Sitharaman announces USD 400 million in new trade

UK Chancellor Rachel Reeves and Finance Minister Nirmala Sitharaman announced USD 400 million in new trade and investment deals at the 13th UK-India Economic and Financial Dialogue in London on Thursday.

In a post on X, the British High Commission in India wrote, “The UK and India are growing together. Chancellor @RachelReevesMP and Minister @nsitharaman have announced £400m of trade and investment wins at the 13th UK-India Economic and Financial Dialogue in London.”

On Wednesday, Sitharaman had a bilateral meeting with Lord Mayor of London Alastair King, in London.

Lord Mayor alluded to his deep association with India and shared his appreciation for India’s vision for Viksit Bharat by 2047.

He also referred to the ongoing collaboration on the UK India Infrastructure Financing Bridge and sought to further enhance the engagement between the two countries under this initiative.

In a post on X, Lord Mayor also appreciated the significant economic and investment opportunity that “India offers, especially in the infrastructure space.”

“Union Minister for Finance and Corporate Affairs Smt. @nsitharaman had a bilateral meeting with Lord Mayor of London @citylordmayor, Mr. Alastair King, in London, yesterday,” the post read.

She also met with Britain’s Secretary of State, Jonathan Reynolds in London.

Both Ministers acknowledged the historical, social, cultural and economic ties between India and UK and exchanged thoughts on the current global and geopolitical situation and also agreed to leverage the existing economic relationship through collaboration and cooperation as a shared priority.

Further they also exchanged updates on the ongoing deliberations related to the bilateral trade and investment agreements and expected timely and mutually beneficial outcome from the negotiations.

In a post on X, Ministry of Finance wrote, “Union Minister for Finance and Corporate Affairs Smt. @nsitharaman met with Rt. Hon. Mr. @jreynoldsMP, Secretary of State for Business and Trade for the United Kingdom @biztradegovuk, in London, today. “

FM Sitharaman arrived in the UK on April 7 for an official visit to the UK and Austria, which will conclude on April 13.