UK sees India as largest trading partner outside Europe: Jaitley

Union finance minister Arun Jaitley on Tuesday said with UK now looking at the world outside Europe, it is countries like India that it sees as having the potential of becoming its largest trading partner.

Union finance minister Arun Jaitley on Tuesday said with UK now looking at the world outside Europe, it is countries like India that it sees as having the potential of becoming its largest trading partner.

Finance minister Arun Jaitley with co-chairs of the India UK Financial Partnership, Uday Kotak and Gerry Grimstone, during a meeting in New Delhi on Monday. (PTI)

“UK is looking at a world outside Europe and it sees in countries like India, one of the largest trading partners,” Jaitley said at the UK-India Tech Summit being held from Monday to Thursday.

Read | UK PM May says can deepen India trade ties before leaving EU

While there are voices from the economies of the world to move towards protectionism, it is India that is looking to open its economy further, he said.

“Today our economy is expanding. We are looking to open out, that is the direction of India. India’s voice is getting increasingly noticed in the world,” Jaitley added.

The relationship between the two countries — India and UK — has undergone a change over decades and they can partner across sectors, including tourism and manpower, he said.

“We are trying to take the relationship at a higher level,” he added.