Piyush Goyal, UK Trade Secretary Discuss Deeper Cooperation In Innovation, Technology And Startups

New Delhi, Jun 15 (KNN) Union Commerce and Industry Minister Piyush Goyal on Sunday held a virtual meeting with UK Secretary of State for Business and Trade Peter Kyle to discuss strengthening bilateral cooperation in innovation, technology, research, startups and emerging technologies.
 
India, UK Explore Deeper Collaboration In Innovation And Technology
 
Sharing details of the interaction, Goyal said both sides explored opportunities to deepen partnerships that can support economic growth and generate mutual benefits for India and the United Kingdom, reported ANI.
 
According to the minister, discussions focused on expanding collaboration in high-growth sectors, including innovation-driven industries, advanced technologies and startup ecosystems, while identifying new avenues for long-term economic cooperation.
 
Focus Remains On Advancing Bilateral Trade Agreement
 
The meeting comes as India and the United Kingdom continue efforts to operationalise their proposed bilateral trade agreement and strengthen broader economic engagement.
 
Earlier, Commerce Secretary Rajesh Agrawal had indicated that both countries were close to implementing the agreement, although certain issues related to the UK's recently announced steel safeguard measures remain under discussion.
 
Steel Trade Measures Continue To Be Discussed
 
The UK has proposed a new steel trade regime that will significantly reduce tariff-free import quotas and impose higher duties on shipments exceeding quota limits. India has been seeking product-specific exemptions for several steel categories, particularly those linked to MSME exporters.
 
Meanwhile, UK Member of Parliament Bob Blackman recently noted that while progress had been made in bilateral trade negotiations, several issues, including tariffs and market access, still require further discussions before the agreement can be fully finalised.
 
Strategic Partnership Expands Across Key Sectors
 
India and the UK have steadily expanded cooperation across trade, investment, defence, education and technology in recent years. 
 
The latest engagement between Goyal and Kyle reflects continued efforts by both countries to strengthen strategic and economic ties while exploring collaboration in future-oriented sectors.
 
(KNN Bureau)