Piyush Goyal's UK Mission: Boost India-UK Investment and Trade Ties

Union Minister of Commerce and Industry Piyush Goyal is on a two-day visit to London to boost investment connections and increase bilateral trade between the United Kingdom and India. His interactions are aimed at building strong economic cooperation between India and the United Kingdom.

During the inaugural day of his visit, Goyal interacted with industry leaders to seek out new opportunities. He met with Martin Gilbert, Revolut App Chairperson, and they discussed the tremendous growth potential within India's fintech sector as well as the need to work with global players in order to develop innovation and provide support to sector growth. Goyal posted on social media, "Met with Mr. Martin Gilbert, Chairperson, and discussed the vast opportunities in India's fintech sector and the need for collaborations with international players to spur growth and innovation."

Also, Goyal had a meeting with Al Cook, CEO of De Beers Group, and his team to talk about global trends in the gems and jewelry industry, India's opportunities in the sector, sustainable practices, and the growth potential for the diamond business. He later engaged with the members of the Indian business delegation during dinner, dwelling on the growth of Indian industries and possibilities for greater collaboration with the UK towards mutual prosperity. He made another remark, indicating, "Interacted with members of the Indian business delegation over dinner. Discussed the robust growth of our industry and avenues for greater collaboration with the UK for mutual prosperity."

On his visit to London, Goyal also held talks with the UK's Secretary of State for Business and Trade, Jonathan Reynolds, with the aim of taking forward discussions on a Free Trade Agreement (FTA) between the two nations. Ministry of External Affairs spokesman Randhir Jaiswal verified that negotiations for the FTA are being re-started with both sides ensuring moving forward with the agreement.

 At a press conference on April 9, Jaiswal said that seven rounds of talks have been held so far, and both sides were keen to proceed with the talks. He stated, "The FTA talks with the UK are in the process of being launched, and both sides remain committed to taking it forward. If my memory serves me right, seven rounds have happened. This will be the eighth round, and both sides are keen to conclude this or take these negotiations forward for an early conclusion of the FTA talks."