UK trade secretary Jonathan Reynolds in India to relaunch FTA talks

India and the UK will resume negotiations on a free trade agreement (FTA) as UK business and trade secretary Jonathan Reynolds is set to meet commerce minister Piyush Goyal during his two-day visit to New Delhi starting Monday.

The discussions, which were put on hold for nearly a year due to the general elections in India and the UK, hold significance for both countries. India plans to expand its exports to $1 trillion by the fiscal year 2030, making the UK its key trade partner.

Meanwhile, for the UK, the FTA will be an opportunity to better its market access for British industries, including advanced manufacturing, clean energy, professional services, and financial services.

“Securing a trade deal with what is soon-to-be the third biggest economy in the world is a no-brainer, and a top priority for me and this 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,” Reynolds said in a statement ahead of his New Delhi visit.

Reynolds and Goyal are scheduled to visit the BT office in Gurugram.

Meanwhile, UK investment minister Poppy Gustafsson is engaging with business leaders in Mumbai and Bengaluru.

Currently, New Delhi and London share a trade relationship worth £41 billion ($52 billion), the UK government said in the statement. If agreed upon, the FTA could open new economic opportunities for both partners.

For India, securing faster visa processing times, improved travel for its professionals and students in the UK is expected to be on the agenda. Moreover, India wants the UK to ease rules for Indian workers on temporary business visas, so they are not required to pay national insurance without getting benefits.

The FTA discussions come as global trade dynamics are shifting since US President Donald Trump has returned to power and threatened India, among other countries, of reciprocal taxes.