UK-India trade | UK post-Covid recovery | Starting a business in lockdown

Posted on 3/06/2021 by DHL Express

UK kick starts preparation for trade negotiations with India

The UK is reaching out to businesses and the public as it prepares to begin trade talks with India. With a population of 1.4 billion people and a £2 trillion economy, the UK hopes to operate more freely in this market by removing tariffs on exports such as whisky and British-made cars. The deal will also be looking towards the future, supporting the science, technology and services industries.

International Trade Minister, Ranil Jayawardena said: “A trade deal will break down barriers, making it easier for British businesses to sell their wares in India – and secure more investment, better jobs, higher wages, more choice and lower prices here at home.”

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UK set for stronger post-Covid recovery

According to recent forecasts, the UK’s predicted growth in 2021 is now closer to 7.2%, compared to its March prediction of 5.1%. This growth has been attributed to the success of the UK’s vaccine rollout and other government schemes, and it is expected that the UK will return to pre-Covid GDP levels around the middle of next year.

With some concerns about the impact of Brexit and unemployment, the continued advice is that maintaining a strong trade relationship with the EU could further help the predicted economic upturn.

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Launching in lockdown

From baked goods to jewellery, or candles to mystery box subscriptions, many business-savvy individuals have used their time in lockdown to start up their own e-commerce businesses. With an increase of global e-commerce site visits by around 6 billion in the first half of 2020 alone, and with 44% of consumers trying new brands during the pandemic, now is a better time than ever to convert that hobby into cash.

If you’re thinking about starting up your own e-commerce business, click below to read our top tips to get you up and running.

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