Jonathan Reynolds in Delhi as trade talks relaunched
India and the UK have restarted free trade talks after nearly a year of suspension before the elections between the two countries.
Britain’s Commerce and Commerce Minister Jonathan Reynolds met with his Indian counterpart, Piyush Goyal, in Delhi on Monday and began a two-day discussion.
The focus of negotiations is to “promote” negotiations and ensure that the deal is “balanced, ambitious and mutually beneficial”, Goyal Write On X.
These countries have conducted twelve rounds of negotiations since 2022, but the agreement has not yet been reached.
Highlighted points include high tariffs, relaxation fees and visa rules for Indian students and professionals in the UK.
Labour held its first talks after taking office in Britain, and Reynolds said ensuring the deal was a “top priority” for his administration.
He is excited about the opportunities he offers in a dynamic market that will be the guiding principle for our trade negotiations with India. ” statement Before the meeting.
India is expected to become the world’s third largest economy in a few years.
After the meeting, the ministers held a joint press conference, but neither side provided a deadline for the end of the negotiations. The deadline set by former ministers Boris Johnson and Liz Truss has not been completed by the agreement.
For Delhi, trade negotiations have made great significance to the decision of U.S. President Donald Trump Reciprocity or tits tariffs Import goods from countries including India.
The UK is also a high-priority trading partner of Prime Minister Narendra Modi’s government, which aims to grow exports to $1 trillion in fiscal 30.
UK announced November Last year – Sir Keir Starmer met with PM Modi at the G20 summit in Brazil – this will start over in the new year.
According to a statement from the UK government, the two countries currently share a trade relationship worth 4.1 billion pounds ($5.2 billion), and the trade agreement could unlock new opportunities for both countries.
London has identified sectors that can benefit, including advanced manufacturing, clean energy and professional and trade services. A deal could also provide valuable markets for UK cars, scotch whiskey and multibillion-dollar financial services.
India is providing greater mobility to its working professionals and students while driving faster visa processing times.
It may also seek concessions for residents working temporarily in the UK for business visas that require national insurance but are still not eligible for social benefits.
Goyal said at the joint meeting that immigration was not part of the discussion.
“India has never discussed immigration in any free trade negotiations,” he said. Reynolds added that business liquidity is a “independence issue” with immigration.
During his visit to Reynolds, he and Goyal will also visit the BT office in the northern Indian city of Gurugram.
British Investment Minister Poppy Gustafsson is also in India and will participate in activities at two major business hubs in India – Mumbai and Bengaluru.
After years of doubts about the free trade agreement, India has been sign Agreements or meetings with several countries or groups. Last year, it sign After nearly 16 years of negotiations, a US$10 billion free trade agreement was reached with the European Free Trade Association, a group of four European countries that are not members of the EU.
It will also resume negotiations with the EU this year.
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