Goyal on FTA with UK after Truss’s resignation, said – will have to wait and see

“We’ll have to wait and see if they have a quick change of leadership. Let’s see who comes into government and what their views are. Only then will we be able to work out a strategy with the UK.” Minister Goyal on free trade deal with UK after UK Prime Minister Liz Truss resigns.

British Prime Minister Liz Truss stepped down on Thursday after a tumultuous and historically brief period fueled by economic policies that rocked financial markets and sparked an uprising in her political party that eroded her authority.

After just 45 days in office, Truss became the third Conservative prime minister to be toppled in as many years, and she would go down in British history as the shortest-serving leader. His resignation expands on the instability that has rocked Britain since it left the European Union and leaves its leadership in limbo as the country faces a livelihood crisis and an impending recession. .

“I cannot give the mandate to which the Conservative Party has elected me,” she said outside her 10 Downing Street office.

Possible contenders include: former Treasury chief Rishi Sunak, who lost to Truss in a previous leadership contest; Penny Mordaunt, Leader of the House of Commons; Defense Secretary Ben Wallace; And former Prime Minister Boris Johnson was kicked out in July over a series of ethics scandals.

Read also: UK political crisis live updates

Speaking on the sidelines of the Confederation of Indian Industry’s (CII) National Export Summit, Goyal said, “Politicians and businesses across the UK have recognized that it is very important for them too to have an FTA with India… but I will believe the UK.” , Canada, our FTAs ​​with the EU, one or two more we can launch soon, which is well on track.”

The UK PM said in his resignation speech, “I came into office at a time of great economic and international instability. Families and businesses worried about paying their bills, from Putin’s illegal war in Ukraine to our entire continent.” And the security of our country is at risk. It has been stalled for a very long time due to low economic growth.”

“I will remain prime minister until a successor is chosen. Thank you,” Truss said.

Notably, India and the UK are interested in seeing whether a free trade agreement (FTA) can be reached at the earliest, but such matters are left to the negotiators, the foreign ministry had said earlier. The general target was to have a deal by Diwali but targets depend on negotiations.

“The mutual implementation of these agreements will be required to move forward,” Foreign Ministry spokesman Arindam Bagchi said. He said talks are on and both sides are keen to reach an FTA that will help both the countries.

“Talks are on on the FTA. It is of interest to both sides to see if we can work towards a deal that is beneficial to both the countries. Best when such matters are left between the trade ministers of the two countries,” he said. go.” Comments from the UK Trade Secretary on FTAs.

There is interest on both sides to complete the FTA at the earliest. “Diwali has been set as a target. There are intense discussions going on and they are on,” he said.

(with inputs from agencies)