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Goyal, Badenoch hold ‘frank discussions’ on difficult issues of India-UK FTA

The Hindu Business Line - 13 July 2023

Goyal, Badenoch hold ‘frank discussions’ on difficult issues of India-UK FTA

Commerce and Industry Minister Piyush Goyal and UK Secretary of State for Trade Kemi Badenoch achieved “considerable progress’’ during their frank discussions on various difficult issues related to the proposed India-UK Free Trade Agreement (FTA), according to an official statement.

“The meeting between Minister Goyal and Secretary Badenoch was marked by a shared understanding and a commitment to advancing mutual interests. The ministers identified and focused on low-hanging fruits, which included the closure of several chapters in the negotiations. This pragmatic approach aimed at resolving issues where negotiators had encountered challenges,” the statement issued by the Commerce and Industry Ministry noted.

The visit proved to be critical in overcoming crucial obstacles and charting a path forward towards an ambitious and mutually beneficial trade deal, it added.

Goyal was in London on July 10-12 where he met senior politicians, government officials and industry leaders and had crucial discussions to strengthen the India-UK trade relationship, the release said. He also had a productive discussion with Douglas McNeill, the Chief Economic Advisor to the UK Prime Minister.

The Minister interacted with business and industry leaders and had a Business Roundtable including stakeholders of various sectors of mutual interest for India and the UK. He also met the members of UK chapter of Institute of Chartered Accountants of India.

Both sides are hopeful that the proposed FTA would double bilateral trade to $100 billion by 2030.

 source: The Hindu Business Line