Commerce and Industry Minister Piyush Goyal, who is in London on a two-day visit, focused on bilateral trade and investment ties during his interaction with a range of senior business leaders to explore the potential for greater collaborations with the UK. After a meeting with UK Business and Trade Secretary Jonathan Reynolds to advance the ongoing Free Trade Agreement (FTA) negotiations, Goyal held talks with Revolut Chair Martin Gilbert with a fintech focus and De Beers Group CEO Al Cook with a focus on “global trends in the gems and jewellery sector” on Monday.
“Exchanged views on the immense opportunities in India’s fintech ecosystem and the importance of partnerships with global players to drive innovation and growth,” Goyal posted on social media after meeting Gilbert.
“We discussed India’s opportunities, sustainable practices, and growth prospects for the diamond industry,” the minister said about his meeting with Cook.
These one-on-one discussions were followed by an interaction with a CEO’s delegation travelling from India, including Federation of Indian Chambers of Commerce and Industry (FICCI), Senior Vice-Chairman Anant Goenka, and past presidents Harsh Pati Singhania and Rajan Bharti Mittal.
“Interacted with members of the Indian business delegation over dinner. Discussed the robust growth of our industry and avenues for greater collaboration with the UK for mutual prosperity,” said Goyal.
On Tuesday, the minister will meet UK Chancellor Rachel Reeves, among other senior officials. All eyes are on the FTA negotiations, which were re-launched in February following a pause for general elections last year. They are aimed at clinching a deal that is expected to significantly enhance the estimated GBP 41 billion a year India-UK trade partnership.
“This government is committed to doing the right deal with India, which will improve access for UK businesses, cut tariffs, and make trade cheaper and easier,” a UK Department for Business and Trade (DBT) spokesperson said.
