NEW DELHI:
India and the United Kingdom have committed to significantly boosting bilateral trade, aiming to more than double its volume within the next decade, Indian Trade Minister Piyush Goyal announced on Monday. The two nations have resumed trade negotiations, even as global trade tensions rise following tariff threats from U.S. President Donald Trump.
Speaking at a joint press conference alongside British Business and Trade Secretary Jonathan Reynolds, Goyal emphasized the importance of expediting discussions on a comprehensive trade agreement. These negotiations include a free trade pact and an investment treaty aimed at strengthening economic ties between the two countries.
While both ministers avoided direct comments on whether Trump’s recent tariff measures were influencing their discussions, their joint statement highlighted that the decision to restart trade talks stemmed from high-level discussions between their prime ministers during the G20 summit in November. That meeting occurred in the lead-up to Trump’s presidential inauguration.
By accelerating these trade negotiations, India and the UK seek to establish a stronger economic partnership, navigating global uncertainties while enhancing mutual investment and market access.
