British and Indian ministers have met for “productive” trade talks, Downing Street said amid speculation that negotiations over a long-awaited deal are nearing the finish line.
Trade Secretary Jonathan Reynolds held a roundtable discussion with his counterpart Piyush Goyal and a number of British business chiefs at Number 10 on Tuesday as efforts continue to broker an agreement.
More than a dozen rounds of talks involving successive governments have taken place since 2022 with the aim of securing a trade pact with India, which is forecast to become the world’s third largest economy.
Key sticking points have included high tariffs on Scotch whisky in India and visa rules for Indian students and professionals.
In a sign of potential progress, representatives from the Scotch Whisky Association, drinks company Diageo and EY were among those at the Downing Street talks on Tuesday.
Asked whether the announcement of a deal was imminent, a Number 10 spokesman declined to give a “running commentary” but said “productive, constructive” discussions had taken place this week.
“The Prime Minister has said we’re now in a new era for trade and the economy, and that means going further and faster to strengthen the UK’s economy for working people’s pockets, and it also means strengthening our alliances and reducing barriers to trade with other economies around the world,” he said.
“The UK is a stable and attractive partner and will seek new alliances pragmatically to deliver a stronger and more secure economy here at home.”
He added: “The Government is committed to doing the right deal with India, which will improve access for UK businesses, cut tariffs and make trade cheaper and easier.
“The Business and Trade Secretary and Minister Goyal welcomed businesses to Number 10 earlier this afternoon for a roundtable that celebrated the strength of the UK-India trade and investment relationship.”
