Rajya Sabha Secretariat
Department-Related Parliamentary Standing Committee on Commerce Interacts with UK Business and Trade Committee in New Delhi
Posted On: 18 MAR 2026 9:50PM by PIB Delhi
The Department-Related Parliamentary Standing Committee on Commerce interacted with an eight-member delegation from the United Kingdom Parliament’s Business and Trade Committee headed by Rt Hon Liam Byrne on 18th March, 2026 in the Parliament House Complex, New Delhi.
During the interaction, the Committee highlighted that India and the United Kingdom share a unique modern relationship, emerging from historical linkages and institutional frameworks, underpinned by shared ideals of democracy and rule of law.
The Committee also noted the signing of the historic India–UK Comprehensive Economic and Trade Agreement (CETA) during the Prime Minister’s visit to the United Kingdom. It expressed confidence that the Agreement will significantly enhance bilateral trade, potentially doubling the existing trade volume, and act as a strong catalyst in further deepening economic cooperation between the two nations.
The Committee also underlined that India is the UK’s 11th largest trading partner, while the UK is India’s 14th largest trading partner. It further noted that the United Kingdom is the 6th largest investor in India. Additionally, India invests in 106 projects and creates 6,067 new jobs in the UK during 2024–25, thereby retaining its position as the second-largest source of FDI after the United States.
The meeting reflects commitment of both India and United Kingdom to strengthen dialogue, knowledge sharing and exchange of views and insights on issues of mutual interest in the field of trade and commerce.
Ms. Dola Sen, Chairperson of DRPSC Committee on Commerce emphasised the need of Level Playing Field for Importers and Exporters because the tariff rates are not in favour of Indian Business Traders at times. Further, India is an agrarian country and require traditional, labour-intensive, eco friendly, environment friendly and agro-based industries for the domestic/ export market.
The Chairperson also underscored that owing to huge population of 150 crores, India is a big market for UK exporters. India is also a favoured destination for setting up Industries due to availability of labour, land and other infrastructure facilities. However the Committee is of the view that there should be implementation of Law of the Land as per our constitution and strict compliance with applicable labour and statutory regulations.
Speaking on the occasion, Mr. Liam Byrne, Chair of the UK Parliament’s Business and Trade Committee, stated that it was a privilege for the House of Commons delegation to visit “this great Parliament”. Further, he noted that India and the United Kingdom have signed one of the most important free trade agreements in recent history and expressed a shared determination to ensure that the treaty delivers for the people and that it is the people who prosper.
The interaction concluded on a positive note, with both sides reiterating their commitment to sustained engagement and constructive collaboration in advancing shared economic objectives.
****
RKK
(Release ID: 2242207) Visitor Counter : 60
