Britain on Monday mooted an India-European Union Free Trade Agreement, which New Delhi said it was willing to look at.
"UK has suggested an India-EU FTA... We are open to all ideas that enhance our trade engagement," Commerce Minister Kamal Nath told reporters after a meeting with visiting UK Trade Minister Ian Pearson.
He said India's trade engagement globally was increasing and all means that could lead to further enhancement could be looked at.
Pearson raised the issue of access to their banks and equal treatment in India as also high customs duties on wines and spirits with Nath.
Pointing at the non-tariff barriers in the UK markets, Nath wanted UK to modify its rules with regard to definition of whisky so that Indian whisky is treated as whisky and not as rum or gin as was being done at present.
He raised the issue of recognition of Indian medical, accountancy and law degrees in the UK.
On the multilateral trade talks, both the ministers highlighted the need for maintaining the momentum gained at the Hong Kong World Trade Organisation Ministerial to complete the Doha Round by 2006.