We'll wait and see: Union Min Piyush Goyal on trade deal with UK after Liz Truss' resignation

The sudden resignation of British Prime Minister Liz Truss on Thursday cast doubt on the two countries' free trade agreements. However, Union Commerce Minister Piyush Goyal said that everything was on track so far. Goyal also added that India would wait for a change in British leadership before deciding on a strategy for free trade agreements with the UK. Regarding the free trade deal with the UK, Goyal said, "We'll have to wait and see whether they have a swift leadership change; let's see who comes into the government and what their ideas are; only then will we be able to build a strategy vis-à-vis the UK."

At the Confederation of Indian Industry (CII) National Exports Summit, Goyal stated, according to the report, "Politicians and businesses in the United Kingdom have recognised the importance of concluding an FTA with India... However, I believe our FTAs with the United Kingdom, Canada, the European Union, and one or two more we may launch soon, all that is well on track."

Notably, Liz Truss resigned as British Prime Minister on Thursday after only 45 days in office, following an open revolt in the Conservative Party against her chaotic leadership over financial turmoil and a political crisis.

In her resignation speech, Liz Truss said, "I took office at a time of great economic and international instability when families and businesses were concerned about how to pay their bills, Putin's illegal war in Ukraine threatens the security of our entire continent, and our country has been held back for far too long by low economic growth."

"I will continue as Prime Minister until a successor is chosen," she concluded.

Also read: Liz Truss resigns amid massive economic crisis, becomes shortest-serving PM in UK history

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• India
• Liz Truss
• National Exports Summit
• Piyush Goyal