IN a bilateral meeting between Mr Andrew Mitchell, UK Secretary of
State for International Development, and Mr Anand Sharma, Union Minister of
Commerce and Industry, both sides highlighted about the deepening of economic
relationship for free movement of professionals and service providers. Mr Sharma
informed that Indian companies are increasingly looking to the UK as base of
potential operation and that restrictions on the movement of people, especially
professionals and highly skilled personnel will adversely affect the growing
trade and economic partnership between India and the UK. During the interaction,
Mr Sharma mentioned that India is engaged in negotiations with the EU for a
broad-based trade and investment agreement (BTIA) with 10 rounds having been
completed till April 2010.
India's exports to UK during the year 2009-10 were valued at US $ 6.2
billion. During April-July 2010-11 exports to UK were valued at US $ 1955
million registering a growth of 1.2 % over corresponding period of previous
year. India's imports from UK during the same period were valued at US $ 4.4
billion. During April-July 2010-11 imports from UK were valued at US$ 1407
million.
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