In a significant step towards strengthening economic ties, India and the United Kingdom have officially resumed negotiations for a trade agreement. The decision follows discussions between Indian Prime Minister Narendra Modi and UK Prime Minister Keir Starmer during the G20 Summit in Rio de Janeiro in November 2024.
The announcement was jointly made by India’s Minister for Commerce and Industry, Piyush Goyal, and the UK’s Secretary of State for Business and Trade, Rt Hon Jonathan Reynolds, in New Delhi. According to the joint statement, both nations are committed to working towards a balanced and forward-looking trade deal that fosters mutual growth.
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India and the UK share a robust relationship across multiple sectors, including security and defence, emerging technologies, climate action, healthcare, education, research, and innovation. The joint statement emphasized that the trade negotiations align with their shared aspiration for economic growth and sustainable development.
Prime Ministers Modi and Starmer have directed negotiators from both sides to address outstanding issues and work towards a fair and equitable trade agreement. The deal is expected to unlock new opportunities for businesses and consumers in both countries while reinforcing their already deep-rooted economic ties.
The renewed negotiations are a continuation of earlier efforts to enhance bilateral trade, which had faced challenges in previous rounds. However, both nations are now determined to find common ground and build upon their complementary economic strengths.
The announcement comes shortly after Union Minister Piyush Goyal and UK Secretary of State Jonathan Reynolds addressed the India-UK Joint Ministerial Reception, reaffirming their commitment to strengthening trade relations.
