Goyal’s Likely Visits to London, Oslo, and Brussels to Start from April 28
In a bid to further strengthen India’s trade and investment ties with the UK, Norway, and the European Union, Union Minister Piyush Goyal is set to embark on a five-day visit to London, Oslo, and Brussels starting from April 28. The official announcement has sent ripples of excitement through the business community, with many anticipating significant trade deals and agreements to be inked during this historic visit.
According to an official statement, Goyal’s visit is aimed at forging new partnerships and consolidating existing ones with the three key economies. The minister is expected to meet with top officials and business leaders in each of the three cities, with the primary focus on boosting bilateral trade and investment ties.
In a significant development, last year, member states of the European Free Trade Association (EFTA) and India signed the Trade and Economic Partnership Agreement (TEPA). This landmark agreement has paved the way for increased trade and investments between the two regions, and Goyal’s visit is expected to build upon this momentum.
The UK, in particular, has been a significant trade partner for India, with bilateral trade between the two nations standing at around $15 billion in 2020-21. The Indian government has been actively working to increase this figure, and Goyal’s visit is seen as a significant step in this direction.
Oslo, the capital of Norway, is also an important destination on Goyal’s itinerary. Norway is a key player in the global oil and gas industry, and India has been seeking to increase its energy cooperation with the country. The two nations have been in talks to sign a bilateral agreement on oil and gas trade, and Goyal’s visit is expected to give a fresh impetus to these negotiations.
Brussels, the seat of the European Union, will be Goyal’s final destination on this trip. The minister is expected to meet with EU officials to discuss a range of issues, including trade, investment, and economic cooperation. India has been seeking to strengthen its ties with the EU, and Goyal’s visit is seen as a significant step in this direction.
The EU is India’s largest trade partner, with bilateral trade standing at over $80 billion in 2020-21. The Indian government has been seeking to increase this figure, and Goyal’s visit is expected to help achieve this goal.
Goyal’s visit comes at a time when the global economy is facing significant challenges, including the ongoing COVID-19 pandemic and rising protectionism. In this context, the minister’s efforts to strengthen India’s trade and investment ties with the UK, Norway, and the EU are seen as a significant step towards promoting economic growth and stability.
The visit is also expected to give a boost to India’s ‘Make in India’ initiative, which aims to promote domestic manufacturing and increase the country’s global competitiveness. Goyal’s meetings with top officials and business leaders in each of the three cities are expected to focus on identifying areas for cooperation in areas such as manufacturing, infrastructure, and services.
In conclusion, Goyal’s likely visits to London, Oslo, and Brussels are significant developments in India’s efforts to strengthen its trade and investment ties with the UK, Norway, and the EU. The minister’s meetings with top officials and business leaders are expected to yield significant results, including new trade deals and agreements. As India continues to navigate the complexities of the global economy, Goyal’s visit is seen as a significant step towards promoting economic growth and stability.
