Connect with us

Business

UK and India relaunch trade talks in Delhi

Published

on

A trade deal with India is among the key priorities for the Labour government [BBC]

India and the UK have restarted free trade talks, nearly a year after negotiations were paused ahead of general elections in both countries.

Jonathan Reynolds, the UK’s business and trade secretary, met his Indian counterpart Piyush Goyal in Delhi on Monday and kicked off the two-day discussions.

The talks focused on “advancing” the negotiations and ensuring that the deal was “balanced, ambitious and mutually beneficial”, Goyal wrote on X.

The countries have held more than a dozen rounds of negotiations since 2022, but an agreement has remained out of reach.

Sticking points include high tariffs in India on Scotch whisky and relaxing fees and visa rules for Indian students and professionals going to the UK.

Talks are being held for the first time after the Labour Party came to power in the UK and Reynolds says securing a deal is a “top priority” for his government.

“Growth will be the guiding principle in our trade negotiations with India and I’m excited about the opportunities on offer in this vibrant market,” he said in a statement ahead of the meeting.

India is forecast to become the world’s third-largest economy in a few years.

The ministers held a joint press conference after the meeting, but neither side offered a deadline for talks to conclude. Deadlines set by former ministers Boris Johnson and Liz Truss had passed without an agreement being finalised.

For Delhi, the trade talks have assumed renewed significance on the back of US President Donald Trump’s decision to impose reciprocal or tit-for-tat tariffs on imported goods from countries, including India.

The UK is also a high-priority trading partner for Prime Minister Narendra Modi’s government, which has an ambitious target to grow exports by $1 trillion by FY30.

X/Piyush Goyal Indian commerce minister Piyush Goyal, wearing a blue shirt and jacket with white pants, holding talks with UK Business Secretary Jonathan Reynolds, wearing a blue suit with white shirt and maroon tie, in Delhi.
Jonathan Reynolds (left) met his Indian counterpart Piyush Goyal in Delhi [BBC]

The UK had announced in November last year – soon after Sir Keir Starmer met PM Modi at the G20 summit in Brazil – that talks would restart in the new year.

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.

London has identified sectors that could benefit, which include advanced manufacturing, clean energy and professional and trade services. An agreement could also potentially unlock a valuable market for British cars, Scotch whisky and financial services worth billions of dollars.

India is seeking greater mobility for its working professionals and students to the UK, while pushing for faster visa processing times.

It may also seek concessions for its residents working temporarily in the UK on business visas, who are required to pay national insurance but are still ineligible for social benefits.

Speaking at the joint conference, Goyal said that immigration was not a part of the discussions.

“India has never ever discussed immigration in any free trade negotiations,” he said. Reynolds added that business mobility was a “separate issue” from immigration.

During Reynolds’ visit, he and Goyal will also visit the BT office in the northern Indian city of Gurugram.

UK Investment Minister Poppy Gustafsson is also in India and will be participating in events in India’s two big business hubs – Mumbai and Bengaluru.

After years of scepticism over free trade deals, India has been signing agreements or is in talks with several countries or blocs. Last year, it signed a $100bn free trade agreement with the European Free Trade Association – a group of four European countries that are not members of the European Union – after almost 16 years of negotiations.

It is also set to resume negotiations with the European Union this year.

[BBC]



Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

“We Are Building a Stable, Transparent and Resilient Sri Lanka Ready for Sustainable Investment Partnerships” – PM

Published

on

By

Prime Minister Dr. Harini Amarasuriya addressed members of the Chief Executives Organization (CEO) during a session held on Thursday [3 February 2026] at the Shangri-La Hotel, Colombo, as part of CEO’s Pearl of the Indian Ocean: Sri Lanka programme.

The Chief Executives Organization is a global network of business leaders representing diverse industries across more than 60 countries. The visiting delegation comprised leading entrepreneurs and executives exploring Sri Lanka’s economic prospects, investment climate, and development trajectory.

Addressing the gathering, the Prime Minister emphasized that Sri Lanka’s reform agenda is anchored in structural transformation, transparency, and inclusive growth.

“We are committed not only to ensuring equitable access to education, but equitable access to quality education. Our reforms are designed to create flexible pathways for young people beyond general education and to build a skilled and adaptable workforce for the future.”

She highlighted that the Government is undertaking a fundamental pedagogical shift towards a more student-focused, less examination-driven system as part of a broader national transformation.

Reflecting on Sri Lanka’s recent political transition, the Prime Minister stated:

“The people gave us a mandate to restore accountability, strengthen democratic governance, and ensure that opportunity is not determined by patronage or privilege, but by fairness and merit. Sri Lanka is stabilizing. We have recorded positive growth, restored confidence in key sectors, and are committed to sustaining this momentum. But our objective is not short-term recovery it is long-term resilience.”

Addressing governance reforms aimed at improving the investment climate, she said:

“We are aligning our legislative and regulatory frameworks with international standards to provide predictability, investor protection, and institutional transparency. Sustainable investment requires trust, and trust requires reform.”

Turning to the recent impact of Cyclone Ditwa, which affected all 25 districts of the country, the Prime Minister underscored the urgency of climate resilience.

“Climate change is not a distant threat. It is a lived reality for our people. We are rebuilding not simply to recover, but to build resilience, strengthen disaster mitigation systems, and protect vulnerable communities.”

Inviting CEO members to consider Sri Lanka as a strategic partner in the Indo-Pacific region, she highlighted opportunities in value-added mineral exports, logistics and shipping, agro-processing, renewable energy, pharmaceuticals, and innovation-driven sectors.

“We are not looking for speculative gains. We are seeking long-term partners who share our commitment to transparency, sustainability, and inclusive development.”

She further emphasized collaboration in education, research, vocational training, and innovation as essential pillars for sustained economic growth.

Concluding her address, the Prime Minister expressed appreciation to the Chief Executives Organization for selecting Sri Lanka as part of its 2026 programme and reaffirmed the Government’s readiness to engage constructively with responsible global investors.

The event was attended by the Governor of the Western Province,  Hanif Yusoof, and other distinguished guests.

[Prime Minister’s Media Division]

Continue Reading

Business

High Commissioner in Pakistan urges high level business visit to Colombo

Published

on

High Commissioner Senevirathne and Dr. Munir at meeting

The High Commissioner of Sri Lanka to Pakistan, Rear Admiral Fred Senevirathne, met Dr. Zeelaf Munir, Chairperson of the Pakistan Business Council (PBC), in Karachi on Feb. 6 and urged a high level visit of Pakistani business people to Sri Lanka, a news release from the High Commission said.

Dr. Munir, who also serves as the Managing Director and Chief Executive Officer of English Biscuit Manufacturers (EBM), leads Pakistan’s premier business policy advocacy body, which plays a key role in promoting a conducive business environment, export growth, and industrial development.

The High Commissioner who was warmly received by Dr. Munir at her office briefed her on the current economic and political landscape in Sri Lanka, highlighting the country’s improving economic outlook, enhanced political stability, and a favourable environment for foreign investment, the release said.

He also outlined the policy priorities of the new Government, with particular emphasis on ongoing economic reforms, investment-friendly initiatives, and opportunities to further strengthen bilateral economic and trade cooperation between Sri Lanka and Pakistan, it said.

He invited Dr. Munir to consider leading a delegation of prominent business leaders and investors to Sri Lanka, with a view to engaging with Sri Lankan counterparts and exploring potential investment opportunities and avenues for collaboration across key sectors.

The meeting was facilitated by. Honorary Consul of Sri Lanka in Hyderabad, Mehmood Mandviwalla, who was also present. Minister and Head of Chancery of the Sri Lanka High Commission in Islamabad, Christy Ruban, and Consul General of Sri Lanka in Karachi, Sanjeewa Pattiwila also participated at the meeting.

Continue Reading

Business

IRONMAN 70.3 Colombo Returns, Kicks Off #ActiveColombo City Transformation

Published

on

All partners at the Ironman 70.3 Colombo Launch with Vraîe Cally Balthazaar, Mayor of Colombo at the event held last Wednesaday at Shangri-La.

Officials from the Western Provincial Council, Colombo Municipal Council, and event organisers marked the official launch of IRONMAN 70.3 Colombo – Presented by Port City Colombo today at Shangri-La Colombo, the Host Hotel, signalling the return of Sri Lanka’s premier endurance event and the start of the long-term #ActiveColombo initiative.

Scheduled from 19–22 February 2026, the world-class triathlon will anchor #ActiveColombo Week, combining international competition with a city-wide celebration of sport, health, and urban vitality. Highlights include the KAYA Colombo – Active Lifestyle & International Expo (19–21 Feb), the family-focused IRONKIDS Colombo (21 Feb), and the IRONMAN 70.3 Colombo triathlon (22 Feb), featuring swim, bike, and run events at Port City Colombo, the Official Venue Partner.

The event is set to welcome nearly 1,000 athletes from over 49 countries, many visiting Sri Lanka for the first time, bringing international media attention and significant economic impact across hospitality, aviation, retail, and transport. As part of the globally recognised IRONMAN® circuit, Colombo now joins iconic host cities such as Sydney, Nice, and Muscat, reinforcing its position as South Asia’s emerging endurance sports hub.

“IRONMAN 70.3 Colombo embodies the spirit of resilience and excellence,” said Rajan Thananayagam, Director of Serendib Multisport (Pvt) Ltd. “This event puts Sri Lanka on the world stage and showcases Colombo as a vibrant, welcoming destination for athletes and their families.”

The launch also introduced #ActiveColombo, a long-term initiative aimed at transforming Colombo into South Asia’s leading Active City. The programme focuses on activating everyday urban spaces through parks, waterfronts, beaches, clean streets, shaded corridors, and safe environments that encourage walking, cycling, yoga, and other outdoor activities.

“Through #ActiveColombo, we aim to inspire a more active generation while strengthening Colombo’s appeal as a globally competitive capital,” said Hanif Yusoof, Governor of the Western Province. Mayor Vraîe Cally Balthazaar added that the initiative symbolises inclusive growth, promoting healthier streets, greener corridors, and vibrant public spaces for residents and visitors alike.

With signature policies such as the “Every Active Street is a Shaded Street” Shade the Road initiative, Colombo aims to combine urban health, economic growth, and international sports tourism. Experts say cities that invest in active lifestyles see 10–20% reductions in long-term healthcare costs, safer streets, and higher visitor spending.

By linking IRONMAN 70.3 Colombo with #ActiveColombo, organisers hope to position the city as a healthier home for citizens, a premier destination for high-value tourists, and a credible host for global sporting and lifestyle events, cementing Colombo’s reputation as South Asia’s Active Capital.

Continue Reading

Trending