Landmark India-UK Pact: Bridging Trade and Trust
India and the UK have concluded negotiations for a landmark Free Trade Agreement during a walk in Hyde Park, London. Key to this agreement is a focus on doubling bilateral trade to USD 120 billion by 2030, promoting economic stability, and enhancing joint ventures and investments between the two nations.
- Country:
- United Kingdom
India and the United Kingdom have reached a breakthrough in their Free Trade Agreement (FTA) negotiations, finalized during an unexpected meeting in London's Hyde Park.
Commerce Minister Piyush Goyal and UK counterpart Jonathan Reynolds cemented the deal during a casual walk, concluding talks aimed at doubling bilateral trade to USD 120 billion by 2030. The agreement promises economic predictability and encourages investments, further solidifying the countries' partnership.
The new pact also addresses the Double Contribution Convention, ensuring temporary workers and students from both nations avoid redundant social security taxes. Minister Goyal affirmed the initiative's fairness and mutual benefits amid misrepresentations from some UK media outlets.
(With inputs from agencies.)
ALSO READ
Piyush Goyal Champions India-Switzerland Economic Synergy with Eye on Future Growth
Piyush Goyal's Strategic European Tour: Boosting Trade with Switzerland and Sweden
India Strengthens Economic Bonds in Europe: Piyush Goyal's Visit to Switzerland and Sweden
Piyush Goyal Strengthens India–Swiss Economic Ties Under New EFTA Agreement
Piyush Goyal Forges New Trade Paths in Switzerland
Google News