Piyush Goyal meets business leaders in London to boost India-UK investment and trade ties

By Admin

29 Apr, 2025

Union Minister of Commerce and Industry, Piyush Goyal, is on a significant two-day visit to London, focusing on deepening economic cooperation between India and the United Kingdom. His meetings aim to strengthen investment links and enhance bilateral trade, marking another step towards a robust economic partnership between the two nations.

Strengthening Ties with Global Industry Leaders

On the first day of his visit, Piyush Goyal engaged in discussions with key business leaders to explore new opportunities for collaboration. Among his prominent meetings was a session with Martin Gilbert, Chairperson of Revolut App. The conversation revolved around the immense growth potential of India’s burgeoning fintech ecosystem. Both leaders emphasized the critical role of partnerships with global players to drive innovation and fuel the sector's rapid expansion.

Sharing his views on social media, the minister remarked, "Met with Mr. Martin Gilbert, Chairperson, @RevolutApp. Exchanged views on the immense opportunities in India's fintech ecosystem and the importance of partnerships with global players to drive innovation and growth."

Focus on the Gems and Jewellery Sector

Goyal also met with Al Cook, CEO of De Beers Group, and his team. The discussions centered around the latest global trends in the Gems and Jewellery sector, highlighting India’s potential in this domain. They also talked about sustainable practices and the promising future of the diamond business, underlining India’s significant role in the global market.

Strengthening the Indian Business Community Abroad

Later in the evening, Goyal interacted with members of the Indian business delegation over a dinner meet. The discussions focused on the impressive growth trajectory of Indian industries and identified avenues for closer collaboration with the UK. The Minister highlighted the mutual prosperity that such partnerships could bring, stating, "Interacted with members of the Indian business delegation over dinner. Discussed the robust growth of our industry and avenues for greater collaboration with the UK for mutual prosperity."

Progress on the India-UK Free Trade Agreement

Earlier upon his arrival, Goyal met with Jonathan Reynolds, the UK's Secretary of State for Business and Trade, to advance negotiations on the India-UK Free Trade Agreement (FTA). Progressing the FTA remains a high priority for both sides.

Ministry of External Affairs spokesperson Randhir Jaiswal confirmed that talks on the FTA are being relaunched. He shared that seven rounds of discussions have already taken place, and both countries are keen on moving negotiations forward towards an early and fruitful conclusion. Addressing a press briefing earlier this month, Jaiswal said, "The FTA talks with the UK are in the process of being relaunched and both sides remain committed to taking it forward. If my memory serves me right, think seven rounds have happened. This will be the eighth round and both sides are keen to conclude this or take these negotiations forward so that we can have an early conclusion of the FTA talks."

Looking Ahead

Piyush Goyal’s visit reflects India’s proactive approach in strengthening international ties and expanding global trade networks. His engagements in London underline a shared commitment between India and the UK to bolster investment flows, create new economic opportunities, and lay the groundwork for a stronger, mutually beneficial partnership.