Milwaukee, Oct 1 (IANS) Commerce and Industry Minister Piyush Goyal on Thursday pushed for faster expansion of India’s trade ties with the UK and Australia, holding separate meetings with his counterparts from the two countries on the sidelines of the G20 Trade Ministers’ Meeting here.
Goyal reviewed the implementation of the India-UK Comprehensive Economic and Trade Agreement with UK Secretary of State for Business, Innovation, Science and Trade Jonathan Reynolds and discussed ways to use the agreement to double bilateral trade.
The agreement has been in force since July 15, 2026.
“Reviewed the implementation of the India-UK CETA, in force since 15th July 2026, and discussed ways to unlock its full potential and double bilateral trade,” Goyal said in a post on X after the meeting.
The talks focused on implementing the trade agreement and efforts by the two countries to translate the pact into greater commercial flows.
Goyal also met with Australian Minister for Trade and Tourism Senator Don Farrell, and the two sides discussed efforts to expedite negotiations on the India-Australia Comprehensive Economic Cooperation Agreement.
The meeting covered pharmaceuticals, services, investment, agri-tech and critical minerals, according to Goyal.
“Discussed expediting the India-Australia Comprehensive Economic Cooperation Agreement and key areas of collaboration across pharmaceuticals, services, investment, agri-tech and critical minerals,” he said.
Goyal and Farrell also reviewed progress under the India-Australia Economic Cooperation and Trade Agreement, or ECTA.
The Indian minister said the discussions included ensuring that Indian businesses make full use of duty-free access available in the Australian market.
“Also reviewed the progress of the India-Australia Economic Cooperation and Trade Agreement (ECTA), ensuring Indian businesses fully leverage duty-free access to the Australian market,” Goyal said.
The two meetings put India’s existing and proposed trade agreements with major partners at the centre of Goyal’s engagements during the G20 ministerial.
With the UK, the emphasis was on extracting the full commercial potential of an agreement already in force and working towards doubling bilateral trade.
The Australia talks had two tracks. One was implementing the existing ECTA and encouraging Indian businesses to use its market-access provisions more. The other was the proposed Comprehensive Economic Cooperation Agreement, which would take the economic relationship beyond the existing pact.
The sectors identified during the Australia meeting also point to a wider economic agenda. Pharmaceuticals and services are important areas for Indian businesses, while investment, agri-tech and critical minerals offer scope for broader cooperation between the two economies.
Critical minerals have become increasingly important to global supply chains, particularly for advanced manufacturing, clean-energy technologies and other strategic industries.
The meetings with Reynolds and Farrell were part of Goyal’s series of bilateral engagements on the sidelines of the G20 Trade Ministers’ Meeting in Milwaukee.
–IANS
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