Union Minister Piyush Goyal and UK's Peter Kyle held talks to strengthen bilateral collaboration in innovation, technology, and startups. The meeting comes as both nations work to finalize a comprehensive trade agreement, with some issues still pending.
Union Commerce and Industry Minister Piyush Goyal on Sunday held a virtual meeting with UK Secretary of State for Business and Trade Peter Kyle, discussing ways to strengthen bilateral collaboration in innovation, technology, research, and startups.
Sharing details of the interaction on X, Goyal said the discussions focused on expanding partnerships that could drive economic growth and create mutual benefits for both countries. "Had a productive virtual meeting with UK Secretary of State for Business and Trade Mr. @PeterKyle. We discussed strengthening India-UK collaboration in innovation, technology, research, startups and emerging technologies. Also explored new avenues to deepen partnerships for driving economic growth and creating shared prosperity for both nations," Goyal posted on X.
India-UK Trade Agreement Negotiations
The meeting comes at a time when India and the United Kingdom are working to deepen economic engagement and advance negotiations on a proposed Comprehensive Economic and Trade Agreement (CETA). India is looking to operationalise the agreement along with the other major FTAs.
In May, Commerce Secretary Rajesh Agrawal said both sides are close to operationalising the agreement, though some issues related to recent UK steel measures are still being worked out. "We are very near to operationalising that. There are a few sticking points. As you are aware, the UK has come ahead with the steel measure recently, which was not factored in while negotiating the India-UK FTA. We are working together to find a unique creative solution," the Commerce Secretary said.
UK Member of Parliament Bob Blackman said that while progress had been made in bilateral trade discussions, several significant issues still needed to be resolved before the agreement could be finalised.
Speaking to ANI in a virtual interview on June 12, Blackman stressed that the proposed arrangement should not be viewed as a completed free trade agreement, noting that negotiations were still underway on key aspects. "We've obviously signed defence and security agreements with India, and we cooperate fully," Blackman said. "I would just correct it: it's not a free trade agreement, it's a trade agreement, and there's still a lot of work to be done."
The British MP pointed to tariffs and market access as major areas requiring further discussion. According to him, both countries need to work towards reducing or eliminating tariff barriers while expanding access to professional services.
Broader Bilateral Cooperation
The UK lawmaker also highlighted the growing educational relationship between the two nations, noting that British schools and universities are increasingly establishing a presence in India. In addition to trade and education, Blackman called for enhanced security cooperation between the two countries and reiterated his long-standing support for India's bid for permanent membership of the United Nations Security Council.
India and the UK have steadily expanded cooperation across trade, investment, defence, education and technology in recent years. The latest interaction between Goyal and Kyle reflects continued efforts by both sides to identify new opportunities in high-growth sectors, particularly innovation and emerging technologies, while advancing broader economic and strategic partnerships. (ANI)
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