Union Minister Piyush Goyal recently engaged in discussions with former UK Prime Minister Rishi Sunak in New Delhi, with a central focus on strengthening the economic partnership between India and the United Kingdom. The meeting underscores the ongoing efforts to bolster bilateral relations and explore avenues for enhanced cooperation.
Goyal's meeting with Sunak is part of a broader series of interactions aimed at solidifying trade and economic ties between the two nations. Earlier in the month, Goyal met with UK Prime Minister Keir Starmer to discuss ways to deepen trade and economic cooperation. Goyal highlighted the discussions on X, emphasizing the mutual prosperity that can arise from a strengthened India-UK trade and economic partnership.
These high-level discussions occur amidst ongoing efforts to operationalize the India-UK Comprehensive Economic and Trade Agreement (CETA), which both sides view as a crucial step in strengthening bilateral ties. The CETA aims to create a modern, mutually beneficial, and sustainable economic partnership. To ensure the CETA's effective implementation, there are plans to reposition the Joint Economic and Trade Committee (JETCO) to oversee the process and ensure faster results.
In addition to meeting with Sunak and Starmer, Goyal also addressed the India-UK Business Plenary Session alongside Peter Kyle, the UK Secretary of State for Business and Trade. During this session, Goyal encouraged businesses to provide feedback on strengthening the partnership, ensuring that trade, investment, and economic cooperation between India and the UK continue to flourish.
The India-UK CEO Forum also convened, bringing together business leaders from both countries to discuss emerging opportunities for trade, investment, and innovation. The forum served as a pivotal platform to bolster bilateral economic cooperation and enhance partnerships across various sectors. Discussions during the forum reaffirmed the shared commitment of India and the UK to advancing their economic relationship, reinforced by the India-UK CETA. Sector-specific roundtables were also held, covering areas such as advanced manufacturing, consumer goods, food and drink, science, technology and innovation, construction, infrastructure & clean energy, and financial, professional & business services.
The UK is pursuing a trade mission to India, with the goal of boosting the 2025 Free Trade Deal and achieving $100 billion in bilateral trade by 2030. Starmer met with Prime Minister Narendra Modi in Mumbai to discuss the Comprehensive Strategic Partnership, focusing on trade, technology, and climate initiatives. Modi and Starmer are expected to review the progress of the India–UK Comprehensive Strategic Partnership, guided by the 'Vision 2035' roadmap, covering key sectors such as trade and investment, technology and innovation, defense and security, climate and energy, health, education, and cultural exchange.
