Piyush Goyal, UK counterpart Reynolds meet to advance FTA talks

Union Commerce and Industry Minister Piyush Goyal meets with UK Secretary of State for Business and Trade Jonathan Reynolds, in London on Monday
| Photo Credit:
ANI

Commerce & Industry Minister Piyush Goyal and UK Secretary of State for Business and Trade Jonathan Reynolds discussed ways to advance the ongoing bilateral Free Trade Agreement (FTA) negotiations in a meeting in London on Monday.

“Arrived in London for two days of engaging discussions aimed at strengthening bilateral trade and investment relations. In my first engagement, held a productive meeting with the UK Secretary of State for Business and Trade Jonathan Reynolds to advance Free Trade Agreement negotiations, reinforcing our commitment to deepening India-UK economic ties,” Goyal posted on social media platform `X’ on Monday.

India-UK FTA talks, which resumed after a gap of eight months in February this year after Britain’s Labour Party, led by Prime Minister Keir Starmer, swept to power in the July 4, 2024 elections, is in the final stages of conclusion, sources have indicated.

However, some tricky issues remain. The UK has made ambitious demands for tariff cuts in goods such as scotch whisky, electric cars, lamb meat, chocolates, and financial services. India, on the other hand, wants increased access for students and professionals in the UK labor market, as well as duty-free access for some key goods.

In the Bilateral Investment Treaty, being simultaneously negotiated with the FTA, some contentious areas, especially in dispute resolution mechanism, remain to be ironed out.

Goyal is also likely to hold talks with UK Chancellor Rachel Reeves and some other senior officials in London.

Published on April 28, 2025