Goyal May Visit London, Oslo & Brussels this Month for Trade Deals
Union Minister Piyush Goyal’s likely visits to London, Oslo, and Brussels are expected to begin on April 28, an official said. The five-day visit to these cities is aimed at further boosting India’s trade and investment ties with the UK, Norway, and the European Union.
The visit comes at a crucial time, as India is looking to strengthen its economic ties with these nations. Last year, member states of the European Free Trade Association (EFTA) and India signed a Trade and Economic Partnership Agreement (TEPA), marking a significant milestone in their economic relations.
During the visit, Goyal is expected to hold talks with his counterparts and business leaders in these countries to discuss ways to increase bilateral trade and investment. The Union Minister is also likely to explore new areas of cooperation, including renewable energy, IT, and pharmaceuticals.
The UK is one of India’s largest trading partners, with bilateral trade worth over $15 billion in 2020-21. The country is also a key investor in India, with British companies having invested over $20 billion in the country.
Norway, on the other hand, is a significant partner for India in the oil and gas sector. The country is one of India’s largest suppliers of oil and gas, and Indian companies have invested heavily in Norway’s oil and gas sector.
The European Union is another important trading partner for India, with bilateral trade worth over $80 billion in 2020-21. India is one of the EU’s largest trading partners in Asia, and the two sides have a comprehensive trade agreement in place since 2018.
During the visit, Goyal is also expected to explore new areas of cooperation, including in the areas of renewable energy, IT, and pharmaceuticals. India has been making significant strides in the renewable energy sector, and the country is looking to collaborate with the UK, Norway, and the EU to develop new renewable energy projects.
The IT sector is another area where India is looking to increase cooperation with these countries. India is home to a large number of IT companies, and the country is looking to collaborate with the UK, Norway, and the EU to develop new IT projects.
The pharmaceutical sector is another area where India is looking to increase cooperation with these countries. India is one of the world’s largest producers of pharmaceuticals, and the country is looking to collaborate with the UK, Norway, and the EU to develop new pharmaceutical products.
The visit is also expected to focus on increasing cooperation in the areas of education, tourism, and culture. India and the UK have a long history of cultural exchanges, and the two countries are looking to increase cooperation in this area.
Similarly, India and Norway have a close cultural relation, and the two countries are looking to increase cooperation in this area. The EU is also a significant partner for India in the areas of education, tourism, and culture.
In conclusion, Union Minister Piyush Goyal’s visit to London, Oslo, and Brussels is expected to further boost India’s trade and investment ties with the UK, Norway, and the European Union. The visit is expected to focus on increasing bilateral trade and investment, as well as exploring new areas of cooperation in the areas of renewable energy, IT, and pharmaceuticals.
