Goyal, UK Trade Secy discuss resumption of FTA negotiations

Commerce and Industry Minister Piyush Goyal on Tuesday held discussions with his UK counterpart Kemi Badenoch on free trade agreement (FTA) negotiations.

UK Trade Secretary Badenoch is in India to restart the India-UK FTA negotiations, which got stalled in July this year.

The negotiations would aim to cut tariffs and facilitate financial and legal services by the UK in India.

Badenoch will also meet business leaders to seek their feedback regarding the trade pact.

Meanwhile both Goyal and Badenoch on Tuesday held discussions on a range of issues related to bilateral trade and economic relations.

Both ministers reaffirmed their commitment towards the ongoing India-UK FTA negotiations which would unlock the full potential of boosting jobs, investments and exports between the two countries.

The sixth round of India-UK FTA negotiations is presently underway in New Delhi.

While expressing satisfaction on the state of negotiations it was agreed that the negotiations will continue further with the aim to conclude the same at the earliest, offical sources said.

The ministers urged the negotiating team to work together with an aim to iron out the differences in the spirit of mutual accommodation based on the principle of reciprocity and respect for each other’s sensitivities, for a balanced, mutually beneficial, fair and equitable outcome.

The bilateral meeting was followed by interaction of the two ministers with the India and the UK businesses.

Goyal mentioned that India and UK investment and economic relations are already strong and grown over the years.

India has adopted an export led strategy to spin its growth story which is inclusive and sustainable, he said.

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