Tuesday, February 25, 2025

Immigration never part of India-UK FTA: Goyal

Monday, February 24, 2025, 10:48
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Immigration has never been part of trade negotiations, Commerce and Industry Minister Piyush Goyal said on Monday when asked whether visas were included in the India-UK free trade agreement (FTA) talks.India and the UK have discussed to advance the FTA negotiations while ensuring that the pact is balanced, ambitious and mutually beneficial. Goyal said both countries reaffirmed their commitment to strengthening trade and investment ties.He held a meeting with UK Secretary of State for Business and Trade Jonathan Reynolds here.”During the meeting, our discussions focused on advancing the India-UK Free Trade Agreement negotiations and ensuring that the agreement is balanced, ambitious and mutually beneficial,” Goyal said.The India-UK FTA negotiations were launched on January 13, 2022.The agreement is aimed at boosting bilateral trade and investments.In such pacts, two countries either eliminate or significantly reduce customs duties on maximum goods traded between them. They also ease norms for promoting trade in services and bilateral investments.The bilateral trade between India and the UK increased to USD 21.34 billion in 2023-24 from USD 20.36 billion in 2022-23.The United Kingdom is the sixth largest investor in India. The country has received USD 35.3 billion FDI during April 2000 and September 2024.

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