Britain, India to hold post-Brexit vote trade talks

British and Indian officials were meeting on the future of trade relations Friday, following Britain's vote to leave the European Union.

British officials said it was the first of a series of meetings with several countries, as the country seeks to redraw its economic ties after the Brexit referendum.

"My absolute priority is making sure the UK has the tools it needs to continue to compete on the global stage," British Business Secretary Sajid Javid said after arriving in Mumbai.

Javid was expected to also visit the United States, China, Japan and South Korea in the coming months.

Britain is the largest G20 investor in India while India is the third-largest source of foreign direct investment in Britain. More than 800 Indian companies have a base there, according to government data.

Bilateral trade in goods and services was an estimated 21 billion dollars in 2015.

Javid met with officials of Tata Steel, which is looking for a buyer for its steel business in Britain.

The Tata conglomerate has businesses ranging from steel, to tea, automobiles and information technology, and is one of the biggest Indian investors in Britain.

Last update: Fri, 08/07/2016 - 12:12
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