India to Initiate FTA Discussions with UK, EU, and Canada During G20 Meetings

India to Discuss Free Trade Agreements at Upcoming G20 Meeting

NEW DELHI – India is set to engage in bilateral free trade negotiations with the United Kingdom, the European Union, and Canada, while also addressing trade matters with a Russian delegation on the sidelines of the G20 meeting next week, according to a senior trade official.

During this meeting, the trade ministers from G20 countries are expected to focus on trade reforms and issues concerning the World Trade Organization (WTO), as highlighted by Trade Secretary Sunil Barthwal in a press briefing.

Over 300 delegates representing G20 member nations will convene in Jaipur, approximately 300 km from New Delhi, for the Trade and Investment Ministerial gathering scheduled for August 24-25.

Established in 2016 under China’s G20 presidency, the Trade and Investment Working Group has continued to facilitate discussions on pertinent topics at subsequent meetings.

"WTO reforms are a crucial priority for the G20," the official remarked, emphasizing that the agenda, which includes participants responsible for nearly 85% of global GDP, will touch upon the importance of logistics in enhancing global value chains and supporting small enterprises.

Countries such as France, Indonesia, South Korea, Turkey, the UK, the USA, and the EU have confirmed their attendance at the meeting.

The trade ministers aim to foster consensus on reducing transaction costs by promoting a paperless global trading system and facilitating the inclusion of small businesses in global trade, as stated by the trade ministry.