Indian minister Piyush Goyal visits UK to strengthen trade ties

The highlight of Goyal's visit is the ongoing free trade agreement (FTA) discussions with the UK. Both nations have been vocal about their intentions to expand economic relations and are exploring possible avenues to bolster bilateral trade. The minister's visit is expected to accelerate the pace of these FTA negotiations, potentially leading to a comprehensive and mutually beneficial pact that would spur economic growth and deepen ties between India and the UK, ministry of commerce and industry said in a press release.

As part of his UK visit, Goyal held high-level talks with his counterparts, including the secretary of state for international trade. The meetings touched upon key priorities and objectives of the FTA negotiations and provided a platform to address significant issues such as trade barriers, investment promotion, and increased cooperation in sectors like technology, innovation, and intellectual property rights.

Simultaneously, Goyal's visit also includes discussions with ministers and officials from EFTA member countries—Switzerland, Norway, Iceland, and Liechtenstein. These talks revolve around the Trade and Economic Partnership Agreement (TEPA) with EFTA, an initiative aimed at augmenting trade and economic collaboration between India and the EFTA nations. The TEPA discussions focus on fostering an environment that supports increased investments, lessens trade obstacles, and provides wider market access.

Fibre2Fashion News Desk (DP)