• May 1, 2025

“Only 100 new UK visas for Indian workers per year”: UK and India close to clinching trade deal

“Only 100 new UK visas for Indian workers per year”: UK and India close to clinching trade deal

LONDON/NEW DELHI May 1: India and the UK are close to clinching a free trade deal, following the talks held between the two sides during the London visit of Commerce Minister Piyush Goyal.

Commerce Minister Piyush Goyal told a business roundtable in London on Tuesday that “25 of 26 matters have been agreed” upon during the negotiations, Politico quoted him as saying.

Amanda Brooks, director general for Trade Negotiations at the Department for Business and Trade, told reporters that a trade deal with India is close.

However, Minister Goyal had raised outstanding issues in a meeting with UK Trade Secretary Jonathan Reynolds. These included India’s calls for a carve-out from Britain’s forthcoming tax on high-emissions imports like steel and aluminium that the UK government has promised to roll out in 2027, Politico said.

Other issues include the description of Indian territory in the deal and the sunset clause in the pact’s parallel investment treaty.

Both nations had begun talks on a bilateral trade deal in early 2022, however, the talks stalled.

After the Labour government came to power last year, Trade Secretary Reynolds travelled to Delhi in February this year to restart the negotiations. A breakthrough in the talks came after India accepted Britain would only offer minor changes to its visa regime, with the two sides closing the mobility chapter of the deal in recent weeks.

Politico quoted a UK official as saying that the new rules will lead to “only 100 new visas for Indian workers per year”.

A No. 10 spokesperson said on Tuesday afternoon that negotiations were “constructive and productive”. They added: “We’ve been clear that we will only sign a deal in our best interest.”

“Addressed the gathering along with UK Secretary of State for Business and Trade @JReynoldsMP and spoke about the bright future ahead for the India-Great Britain partnership.

“Immensely grateful for the warm and gracious hospitality extended by our UK partners. Looking forward to tangible outcomes of our shared vision.

“It was a pleasure to meet @RachelReevesMP, Chancellor of the Exchequer along with @JReynoldsMP, Secretary of State for Business and Trade, UK.

“Had a fruitful exchange on advancing India-UK economic ties and further building on our strong partnership.”

Goyal also met with Mark Tucker, Group Chairman HSBC.

“Exchanged views on sustainable finance, innovation-led investments, strengthening India’s integration with global financial systems & HSBC’s plans to expand their presence in India.

“Delighted to learn that Mr. Tucker along with the entire HSBC Board will be visiting our country later this year.

“Under the leadership of PM @NarendraModi ji, India is truly emerging as a global hotspot for investments.

He also addressed the India-UK Business Roundtable.

“Addressed the India-UK Business Roundtable, bringing together prominent business leaders and CEOs from both countries.”

“Highlighted opportunities to strengthen economic ties, drive innovation-led growth, and expand investment avenues between India and the UK. – UNIv