Goyal May Visit London, Oslo & Brussels this Month for Trade Deals
India’s trade and investment ties with the UK, Norway, and the European Union are set to receive a significant boost as Union Minister Piyush Goyal is likely to embark on a five-day visit to London, Oslo, and Brussels starting from April 28. The official visit aims to further strengthen the economic relationships between India and these countries, with a focus on increasing trade and investment.
According to an official statement, Goyal’s visit to these cities is scheduled to begin on April 28 and will last for five days. During his visit, he is expected to hold meetings with trade and industry leaders, as well as government officials, to discuss ways to enhance bilateral trade and investment ties.
Last year, the member states of the European Free Trade Association (EFTA) and India signed the Trade and Economic Partnership Agreement (TEPA), which aimed to promote trade and economic cooperation between the two sides. Goyal’s visit is seen as an opportunity to build on this agreement and explore new areas of cooperation.
The visit is also expected to focus on attracting foreign direct investment (FDI) from these countries to India. India has been actively seeking to attract FDI to boost its economy, which has been facing challenges in recent times. The country’s FDI policy has been liberalized, and several sectors have been opened up to foreign investment.
The UK is one of India’s largest trading partners in Europe, and the two countries have a strong bilateral trade relationship. India is the UK’s third-largest trading partner in Asia, and the UK is India’s largest trading partner in Europe. The total bilateral trade between the two countries stands at around $15 billion.
Norway, on the other hand, is a significant investor in India, with several Norwegian companies having invested in the country’s energy, oil and gas, and pharmaceutical sectors. India is also a significant trading partner for Norway, with the total bilateral trade standing at around $2 billion.
Goyal’s visit to Brussels will focus on strengthening India’s ties with the European Union (EU). The EU is India’s largest trading partner, and the two sides have a significant trade relationship. India is also seeking to increase its trade and investment ties with the EU, with a focus on increasing the share of EU trade in India’s overall trade.
The visit is also expected to focus on issues such as trade facilitation, customs procedures, and regulatory frameworks. Goyal will also meet with industry leaders and business chambers to discuss ways to enhance trade and investment ties between India and the EU.
In recent years, India has been actively seeking to increase its trade and investment ties with Europe. The country has signed several agreements with European countries, including the UK, Norway, and the EU, aimed at promoting trade and economic cooperation.
Goyal’s visit to London, Oslo, and Brussels is seen as an important step in further strengthening these ties. The visit is expected to lead to significant increases in trade and investment between India and these countries, and will also help to promote economic cooperation and growth.
In conclusion, Goyal’s visit to London, Oslo, and Brussels this month is expected to be an important step in further strengthening India’s trade and investment ties with the UK, Norway, and the European Union. The visit is likely to lead to significant increases in trade and investment between India and these countries, and will also help to promote economic cooperation and growth.
