Piyush Goyal To Visit UK To Discuss Trade Pact Implementation

Trade ministers of India and the UK will hold discussions this week in London on issues related to the implementation of the comprehensive economic and trade agreement (CETA), which is scheduled to come into force on July 15.

Commerce and Industry Minister Piyush Goyal will undertake an official visit to London from June 25-27 for the discussions, an official statement said on Wednesday.

During the visit, Goyal will hold a high-level bilateral meeting with the UK's Secretary of State for Business and Trade Peter Kyle.

"The bilateral discussions will focus on aligning regulatory roadmaps, streamlining cross-border customs coordination and finalising administrative mechanisms to facilitate the smooth implementation of CETA and the DCC (Double Contribution Convention)," the commerce ministry said.

The ministers will review preparedness for the implementation of CETA's tariff liberalisation commitments, which will provide enhanced market access opportunities for Indian exports in the United Kingdom, it added.

It said that discussions will also cover the operational roadmap for the DCC, which is expected to establish a streamlined mechanism to address dual social security contribution requirements for eligible temporary workers.

"The two sides will further discuss the operationalisation of mutual market access commitments across key services sectors and review measures aimed at strengthening bilateral trade and investment ties," it said.

Goyal will also participate in a series of Government-to-Business engagements with industry leaders, investors and corporate representatives.

He will meet senior executives of leading global companies, including HSBC (Global Trade Solutions) and Rolls-Royce, to discuss strategic investments, industrial collaboration and the expansion of manufacturing partnerships in India.

Further, he will attend a session hosted by the UK-India Business Council (UKIBC). The engagement will bring together C-suite executives and representatives from leading multinational companies, including Tata Group, HSBC, Prudential, De Beers and Baker McKenzie, to discuss opportunities for trade, investment and business collaborations.

The ministry said that Goyal will lead a roundtable discussion hosted by Asia House.

Senior executives from leading international financial and industrial institutions, including JP Morgan, Standard Chartered, Lloyds, Morgan Stanley and Arup, will participate in the discussions on India's industrial competitiveness, investment landscape and integration with global supply chains.

India and the UK have fixed a bilateral trade target of USD 120 billion by 2030.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)