New Delhi, March 31 (HS): Union Finance Minister Nirmala Sitharaman will undertake a three-day visit to the UK from April 8 to 10. During this visit, discussions are expected on several issues related to the proposed Free Trade Agreement (FTA) and the Bilateral Investment Treaty (BIT) between India and the UK. Additionally, the Finance Minister will participate in several meetings, including the India-United Kingdom Economic and Financial Dialogue in London.

Official sources stated on Monday that during this three-day trip, the Finance Minister may hold bilateral meetings with UK Chancellor of the Exchequer Rachel Reeves and other British ministers. Moreover, there may also be discussions between Sitharaman on issues related to trade agreements and the Bilateral Investment Treaty. Earlier, on February 24, Union Commerce and Industry Minister Piyush Goyal and UK’s Trade Secretary Jonathan Reynolds announced the resumption of negotiations for the proposed FTA between the two countries.

According to the ministry, negotiations for the proposed Free Trade Agreement (FTA) between India and the UK are set to resume after more than eight months. Discussions between the two countries began on January 13, 2022, and 14 rounds of talks have been completed so far. Bilateral trade between India and the UK increased from 20.36 billion USD in the fiscal year 2022-23 to 21.34 billion USD in the fiscal year 2023-24. Additionally, the UK is the sixth-largest investor in India, with direct foreign investment of 35.3 billion USD received by India from April 2000 to September 2024.

Hindusthan Samachar / Jun Sarkar