Piyush Goyal pushes for stronger India-UK economic ties

Union Commerce and Industry Minister Piyush Goyal has embarked on a five-day visit to London, Oslo, and Brussels to foster economic growth and cooperation between India and key partners including the UK and Norway. During his trip, Goyal has actively engaged in discussions aimed at strengthening India’s trade and investment ties, emphasizing the importance of a shared vision for economic collaboration between the two countries. He participated in a joint India-UK business reception at Lancaster House alongside UK Secretary of State for Business and Trade, Jonathan Reynolds, where both leaders highlighted the promising future of the India-UK partnership. Goyal specifically addressed opportunities for bilateral economic ties, innovation-led growth, and increased investment during the India-UK Business Roundtable, which brought together prominent business leaders and CEOs from both nations. He noted the crucial role that these discussions play in driving economic advancement and creating synergies in respective markets. Additionally, the minister underscored the significance of deepening cooperation between India and the UK as both countries work towards concluding negotiations on a Free Trade Agreement (FTA). The FTA negotiations represent a critical step in solidifying the trade relationship between India and the UK, particularly in the context of rising trade challenges caused by increasing US tariffs. Goyal highlighted that the proposed agreement encompasses a range of topics, including goods, services, investments, and intellectual property rights, reflecting a comprehensive approach to their economic partnership. The discussions have become all the more pressing as both nations seek to navigate a complex global trade environment. During his visit, Goyal expressed his gratitude for the warm hospitality extended by UK representatives and reaffirmed the commitment of both nations to achieve tangible outcomes from their shared vision for economic collaboration. The optimism exhibited by Goyal regarding the future of India-UK relations marks a significant moment, as both countries aim to realize their economic potential through enhanced cooperation and strategic partnerships.