Indian Finance Minister Nirmala Sitharaman will visit London from April 8-10 for talks under the India-UK Economic and Financial Dialogue, focusing on bilateral trade and investment.
She is expected to meet Chancellor of the Exchequer Rachel Reeves as part of this key institutional mechanism to strengthen economic ties between the two nations.
A senior official said the trade agreement and bilateral investment treaty may also be discussed during the meetings. Bilateral economic cooperation is guided by institutional dialogues like the Economic and Financial Dialogue (EFD), where both sides regularly review trade and investment progress.
On February 24, Indian Commerce and Industry Minister Piyush Goyal announced the resumption of India-UK FTA negotiations after talks in Delhi with UK Business Secretary Jonathan Reynolds.
"We are actively negotiating three aspects-the FTA, Bilateral Investment Treaty, and Double Taxation Agreement-in parallel," Goyal said, emphasising that while talks will progress swiftly, India will not rush into a deal. "We will have speed, but not haste," he remarked.
The agreement which consists of 26-chapter in the India-UK FTA covers goods, services, investments, and IP rights. The UK seeks lower tariffs on EVs and Scotch whisky, while India wants easier visas for its professionals.
The India-UK Economic and Financial Dialogue (EFD) aims to strengthen financial and economic ties, focusing on sustainable development, financial reforms, and regulatory frameworks to boost trade and investment.
Last month, Indian dignitaries, including West Bengal’s Chief Minister Mamata Banerjee (refer to page 11) and External Affairs Minister S Jaishankar, visited the UK to strengthen bilateral relations, focusing on business, investment, and other key areas of cooperation.
