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Free trade talks between India and the UK resumed on Monday in Delhi, nearly a year after being paused due to elections. UK Business and Trade Secretary Jonathan Reynolds and Indian Commerce and Industry Minister Piyush Goyal are leading the two-day discussions. The goal, according to Goyal on X, is to "advance" negotiations and reach a "balanced, ambitious and mutually beneficial" agreement.
The countries have held more than a dozen rounds of negotiations since 2022, but an agreement has remained out of reach. Sticking points include high tariffs in India on Scotch whisky and relaxing fees and visa rules for Indian students and professionals going to the UK.
Talks are being held for the first time after the Labour Party came to power in the UK and Reynolds says securing a deal is a "top priority" for his government.
"Growth will be the guiding principle in our trade negotiations with India and I'm excited about the opportunities on offer in this vibrant market," he said in a statement ahead of the meeting.
The ministers held a joint press conference after the meeting, but neither side offered a deadline for talks to conclude. Deadlines set by former ministers Boris Johnson and Liz Truss had passed without an agreement being finalised.
For Delhi, the trade talks have assumed renewed significance on the back of US President Donald Trump's decision to impose reciprocal or tit-for-tat tariffs on imported goods from countries, including India.
The UK is also a high-priority trading partner for Prime Minister Narendra Modi's government, which has an ambitious target to grow exports by $1 trillion by FY30.
The UK had announced in November last year - soon after Sir Keir Starmer met PM Modi at the G20 summit in Brazil - that talks would restart in the new year.
The two countries share a trade relationship worth £41bn ($52bn) currently, according to a UK government statement, and a trade deal could unlock new opportunities for both countries.
India is forecast to become the world's third-largest economy in a few years.
