The decision comes as the UK assumes responsibility for its independent trade policy, facilitate investment in both directions and intensify collaboration on shared or complementary strengths.
"Building on the recommendations of the recently-completed UK-India Joint Trade Review, we will work together on a sector-based roadmap, to reduce barriers to trade, make it easier to do business in both countries and enable a stronger bilateral trade relationship after the UK exits the EU. We will also ensure continued application to the UK of EU-India Agreements during the Implementation Period following the UK's departure from the EU, and put in place arrangements to replicate relevant EU-India agreements beyond this period," a joint statement said.
The UK has been the largest G20 investor in India over the last ten years and India has the fourth largest number of investment projects in the UK. "We will begin a new dialogue on investment to improve our mutual understanding of priorities and review future opportunities for cooperation."
India and the UK also acknowledged the importance of connectivity in today's globalised world. (ANI)