Piyush Goyal Advocates for Simplified UK Visa Regulations to Enhance Trade and Investment
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Synopsis
Commerce and Industry Minister Piyush Goyal advocates for relaxed UK visa regulations to enhance bilateral trade and investments, coinciding with renewed talks on the India-UK Free Trade Agreement.
Key Takeaways
- Piyush Goyal emphasizes the need for easier visa rules.
- Discussions on the India-UK Free Trade Agreement resume.
- India seeks relaxed visa regulations for skilled professionals.
- The UK aims to lower tariffs on specific goods.
- Active negotiations on multiple agreements are ongoing.
New Delhi, Feb 24 (NationPress) Commerce and Industry Minister Piyush Goyal on Monday strongly advocated for more flexible visa regulations for businesses and skilled workers to enhance bilateral trade and investments between India and the UK.
These comments were made in the context of the resumption of discussions on the proposed India-UK Free Trade Agreement (FTA), a decision announced by Piyush Goyal and his UK counterpart Jonathan Reynolds, who is currently on a three-day visit to India aimed at strengthening economic ties.
India is also urging for simplified visa processes for skilled workers employed by Indian companies operating in the UK, as it seeks to finalize a free trade agreement with the UK. This appeal complements India's ongoing request for increased visas for Indian professionals, particularly in the IT sector. Indian businesses rank as the second-largest foreign investors in the UK, reinforcing New Delhi's demand for greater hiring flexibility.
Piyush Goyal indicated that the agreement aims to significantly open up services between the two nations while also creating an environment conducive to attracting more investments.
"As part of the FTA, we have proposed mutual access to each other's services sector while safeguarding each country's unique sensitivities. This will pave the way for new opportunities, and, naturally, business visas will be essential and tied to the investments and services being expanded," said Piyush Goyal.
"I foresee no obstacles in this process. If both parties are committed to enhancing trade and investments, we must expedite and liberalize our visa issuance process," he emphasized.
"All options remain available. We are actively negotiating on three fronts - the FTA, the Bilateral Investment Treaty, and a Double Contribution Convention Agreement, all simultaneously," Piyush Goyal stated during an event.
Reynolds remarked, "We have reinitiated negotiations for the UK-India FTA. We aim to secure a mutually advantageous agreement through these discussions," he said.
The agreement comprises 26 chapters, covering goods, services, investments, and intellectual property rights. While the UK seeks reduced tariffs on products such as electric vehicles and Scotch whisky, India desires more lenient visa regulations for its service professionals to enter the UK.
Both Piyush Goyal and UK Business and Trade Secretary Jonathan Reynolds visited the National Crafts Museum.
“Explored India's rich crafts heritage at the National Crafts Museum along with @JReynoldsMP, UK Secretary of State for Business and Trade. From intricate textiles to live artisan demonstrations, it was a visual treat of our unmatched legacy,” the minister shared on X.
