India-UK FTA could be ready as early as Diwali this year, says Piyush Goyal
The Free Trade Agreement will add new dimensions to trade and economic ties, Goyal said
The India-UK FTA will add a new dimension of dynamism to trade and economic relations, Commerce and Industry Minister Piyush Goyal said on Friday during his visit to the United Kingdom.
Goyal has expressed optimism about the India-UK Free Trade Agreement (FTA) being finalised by Diwali this year.
"Addressed the India-UK Business Roundtable on FTA in London today.
I am confident that the India-UK FTA will benefit businesses and add a new dimension of dynamism to our trade and economic relations," the minister said on Twitter.
The Commerce and Industry Minister also met Parliamentarians and discussed the progress on the India-UK FTA.
"It was trade & investment talk served hot for breakfast with Parliamentarians in London today.
Shared with them how the progress on India-UK Free Trade Agreement negotiations have brightened the prospect of a grand Diwali gift for businesses & people on both sides," Goyal tweeted.
In London, Goyal also addressed investors including fintech, venture capital funds, and banks and explained how India was becoming the preferred destination for investment across sectors.
During the discussions, Goyal explained how with 'Make in India for the World', UK businesses can leverage cost competitiveness, scale & skill to become global champions.
"Addressed a sectoral roundtable of Investors including Fintech, Venture capital funds & Banks in London.
With India leading the way in innovation & technology, reiterated how it is becoming the most preferred destination for investment across sectors," Goyal later tweeted.
Goyal earlier had a bilateral meeting with Secy of State for International Trade Anne-Marie Trevelyan and discussed the ongoing FTA negotiations. Both Ministers renewed their commitment to conclude a comprehensive India-UK FTA as soon as possible this year.
"Delighted to meet @annietrev, UK Secretary of State for International Trade, in London today.
Held productive discussions on carrying forward the ongoing Free Trade Agreement negotiations, giving further boost to India-UK trade and investment partnership," Goyal tweeted
The two later co-hosted the 'Small Business Round Table.
Commerce and Industry Minister Goyal had earlier flagged off the UK-India Week 2022, organised by UK-headquartered India Global Forum (IGF), at a special curtain raiser event in London.