NEW DELHI: Brexit will likely lead to a "far higher level of engagement" with Britain, India's finance minister said Tuesday during a visit by his British counterpart aimed at boosting trade, reports AFP.
Arun Jaitley and British finance minister Philip Hammond discussed various aspects of the bilateral relationship including a possible post-Brexit trade deal, a partnership in financial and technology sectors and funding for Indian infrastructure projects.Britain has made clear its desire to boost trade with India, the world's fastest-growing major economy.
"Ever since the Brexit referendum took place, it has been clear to us through our communication with the government of the United Kingdom that post-Brexit, (it) will look for more trade, more open trade and more trade arrangements with India," Jaitley told a joint press conference.
"Obviously these can be formally discussed and formalised after Brexit takes place. But it probably is going to imply a far wider and far higher level of engagement between the two countries."
The British government last month formally gave notice of its intention to leave the European Union, triggering two years of exit negotiations.
While the benefits to Britain of a trade deal with India are evident, sealing one will be no easy task. The country has been negotiating a free trade agreement with the EU as a whole for the best part of a decade.