New Delhi/London: Union Commerce Minister Piyush Goyal, on Wednesday July 12, met with United Kingdom's Secretary of State for Trade Kemi Badenoch and discussed the Free Trade Agreement (FTA). Goyal also explored opportunities for enhanced collaboration between the two nations.
Goyal on Wednesday concluded a productive visit to London from July 10 to July 12, during which he engaged with several highly placed politicians, government officials and industry leaders and had crucial discussions to strengthen the India-UK trade relationship.
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The visit was strategically timed, coinciding with the critical stage of ongoing negotiations, and proved to be instrumental in moving the discussions forward. Recognizing India's vast population of 1.4 billion and its remarkable economic growth, Goyal and Badenoch acknowledged the immense potential of the Indian market for the UK. Encouragingly, considerable progress was achieved during their frank and open discussions on various difficult issues, sources said. The meeting between Goyal and Badenoch was marked by a shared understanding and a commitment to advancing mutual interests.
Earlier on Wednesday, Goyal had a productive discussion with Douglas McNeill, the Chief Economic Advisor to the UK Prime Minister. According to sources, the meeting highlighted the joint efforts of India and the UK in giving a new dimension to their relationship and promoting trade between the two nations. Both parties acknowledged the positive outcomes achieved through collaborative initiatives and expressed optimism for the future. McNeil visited New Delhi during the last round and had meetings with senior officers and ministers.
During the visit, Goyal also interacted with businesses and industry and had a business roundtable involving stakeholders of various sectors of mutual interest for India and the UK. He urged businesses in India and the UK to take advantage of various initiatives of the Indian government. He also interacted with the members of the UK chapter of the Institute of Chartered Accountants of India (ICAI).
Sources said the discussions held during Goyal's visit reflected a strong commitment from both sides to forge a closer partnership and explore avenues for trade promotion. They added that the progress made during the visit sets a solid foundation for further strengthening bilateral relations and achieving mutually beneficial outcomes.
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