UK Secretary of State for Business and Trade Jonathan Reynolds, along with India's Commerce and Industry Minister Piyush Goyal, visited the National Crafts Museum in Delhi.
The Free Trade Agreement talks between India and the United Kingdom (UK), which are set to resume, will be pathbreaking and help the trade to grow 2 to 3 times in a decade, said Piyush Goyal, Union Minister of Commerce and Industry, on Monday.
The two sides have agreed to resume negotiations towards a balanced, mutually beneficial and a forward-looking deal that delivers mutual growth and builds on the strengths of two complementary economies.
The next round of negotiations for an India-EU free trade agreement (FTA) is planned next week, from September 23-27 here in the national capital, commerce secretary Sunil Barthwal told reporters on Tuesday.
Highlighting the ongoing talks on the India-UK Free Trade Agreement (FTA), Kevin Mccole, Managing Director, of the UK-India Business Council said that they are hopeful that some deal could be done quickly and then built upon while moving forward.
According to S&P Global Market Intelligence, a financial information and analytics firm, the impacts the election could pose include the UK's trade agreements, willingness to use import duties, industrial support, investment in infrastructure, and support for unionization.
Union Minister Piyush Goyal has said that India is actively working on the process of free Trade Agreements (FTAs) with many countries and expressed confidence of fast progress with the United Kingdom, irrespective of the result of the British elections
The long-awaited trade deal between India and Britain is likely to be signed after the completion of elections in the United Kingdom as the officials of India and the United Kingdom met virtually on May 7 last month.
The commerce ministry has organised a two-day "Chintan Shivir" for formulating strategies and standard operating procedures for free trade agreements. The Shivir organised on May 16-17, was attended by senior government officials of different departments, former government secretaries, and t