India-UK Trade Relations: Key Highlights and Future Prospects
International · 08 Sept 2026 · Source: Internet
Bilateral trade between India and the United Kingdom has grown steadily, with services and pharmaceuticals leading the exchange.
India and the UK recorded a bilateral trade of over $30 billion in FY2022-23, with the UK exporting machinery, aerospace, and chemicals, while India exported textiles, gems, and services such as IT and financial consulting.
The Strategic Trade and Investment Partnership (STIP) signed in 2020 aims to deepen cooperation in sectors like green technology, digital trade, and skill development, aligning with both countries' post‑COVID recovery agendas.
Negotiations for a Comprehensive Economic Partnership Agreement (CEPA) are underway, focusing on reducing tariff barriers, enhancing market access for services, and fostering joint research in renewable energy.