Team Blitz India
LONDON: India’s Commerce and Industry Minister Piyush Goyal held high-level meetings to strengthen India-UK trade relationship, during his recent visit here. The trip was strategically timed, coinciding with the critical stage of ongoing trade negotiations. Goyal met several highly placed politicians, Government officials and industry leaders.
The minister held a meeting with Secretary of State for Trade of the United Kingdom, Kemi Badenoch, to discuss the Free Trade Agreement (FTA) and explore opportunities for enhanced collaboration between the two nations.
In May, Downing Street shared that India Prime Minister Narendra Modi and his UK counterpart, Rishi Sunak reviewed the progress of FTA negotiations and agreed for their trade teams to continue at pace towards an ‘ambitious’ deal. A significant step: The Goyal- Badenoch meeting is being seen as a significant step in light of the Downing Street statement.
Reports indicate considerable progress was achieved during the ministers’ meeting on various “difficult issues”. Recognising India’s vast population of 1.4 billion and its remarkable economic growth, both acknowledged its immense market potential for the United Kingdom. The ministers identified and focused on low-hanging fruits, which included the closure of several chapters in the negotiations.
Pragmatic approach: This pragmatic approach aimed at resolving issues where negotiators had encountered challenges. The visit proved to be critical in overcoming crucial obstacles and charting a path forward towards an ambitious and mutually beneficial trade deal.
Among others, Goyal held discussions with Douglas McNeill, Chief Economic Advisor to the UK Prime Minister. He also interacted with business and industry leaders and participated in a roundtable with stakeholders of various sectors of mutual interest.
