India, UK resume negotiations on proposed trade deal

India and UK on Monday decided to resume negotiations towards a trade deal, according to a joint statement.

The decision came at a meeting in New Delhi between Indian Trade Minister Piyush Goyal and visiting UK Business and Trade Secretary Jonathan Reynolds.

The sides "agreed to resume negotiations towards a balanced, mutually beneficial and a forward-looking deal that delivers mutual growth and builds on the strengths of the two complementary economies," the statement said.

It added that Goyal and Reynolds directed the negotiators to "work together to resolve the outstanding issues in the agreement to ensure a fair and equitable trade deal for shared success."

Our "discussions focused on advancing the India-UK Free Trade Agreement negotiations and ensuring that the agreement is balanced, ambitious and mutually beneficial," Goyal said on X.

"We are restarting talks for a forward-looking, transparent, and ambitious India-UK Free Trade Agreement that will be a win-win for both nations."

India says negotiations were paused by the UK in May 2024 due to elections, won by the Labour Party.

The two countries share a trade relationship worth £41bn ($52bn) currently, according to a UK government statement, and a trade deal could unlock new opportunities for both countries.