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World
11 Feb 2019

India-UK trade to be unaffected by Brexit: British trade commissioner

Britain-India bilateral trade stands at $25bn: Simon

Trade relations between India and the UK isn't likely to be affected after Brexit, British trade commissioner to South Asia Crispin Simon has said.

"Bilateral trade between Britain-India stands at $25 billion. India is an important trading partner and after Brexit, it's not to be affected", Simon said.

Britain had been allowed to establish new trading arrangements outside the EU following Brexit, he said.

In context

Britain-India bilateral trade stands at $25bn: Simon
Bilateral trade between Britain-India growing at nice momentum: Simon

Bilateral trade

Bilateral trade between Britain-India growing at nice momentum: Simon

The bilateral trade between Britain and India was growing at 17% per annum, Simon said, adding "there's a nice momentum".

Though the balance of trade was in favor of Britain, the "new trade deal will have a positive effect", he said, adding the sectoral areas of bilateral trade between the two countries are technology, finance and renewable energy for which green finance was available.

Green financing

There is demand for green finance in India, says Simon

Imports to India was $13 billion, while exports from India was $12 billion, said the British Trade Commissioner.

"There is demand for green finance in India," Simon said.

Green financing is done to increase the flow of finance from public and private sectors to sustainable development priorities so that the environmental and social risks could be managed well.

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