India to take forward FTA talks with UK, Canada and EU on sidelines of G20 trade ministers’ meeting  

India will hold bilateral meetings with the UK, Canada and European Union to take forward talks on the free trade agreements (FTAs) with those countries on the sidelines of the upcoming G20 trade and investment ministers’ meeting.  

“This G20 ministerial meeting will also be useful for us to conduct all the important bilaterals related to the FTAs. UK is coming with its team…. there will also be discussions on what we have done so far with Canada. We will also be relating some of the issues related to EU. Their Executive Vice President and Director General Trade will also be coming,” said Commerce Secretary Sunil Barthwal on Friday.  

The fourth meeting of the trade and investment working group of the G20 will be held in Jaipur on August 21 and 22, which will be followed by the trade and investment ministers meeting from August 23 to 25.   

Bilateral meetings are scheduled on all three days of the ministerial meeting. A bilateral meeting with US Trade Representative Katherine Tai is also likely to be held but the agenda has not been finalised.  

Barthwal said that the focus of the meeting would be the G20 ministerial statement and the government is hopeful that all of India’s priorities will be taken up. India hopes to discuss reforms of the World Trade Organisation ahead of the 13th ministerial conference in February 2024. Other items on India’s agenda for the G20 meeting include trade for growth and prosperity, resilient global value chains, integrating MSMEs in global trade as well as logistics for trade.  

Trade ministers from G20 members countries including the UK, Canada, France and Japan are expected to attend the meeting next week.  

Most of the trade ministers are also expected to then attend the B20 or Business 20 summit that will be held in New Delhi between August 25 to 27, said Rajesh Kumar Singh, Secretary, Department for Promotion of Industry and Internal Trade (DPIIT).  

Prime Minister Narendra Modi is also likely to join the summit on the valedictory day on August 27.   

The summit will see participation of over 800 global delegates as well as 800 Indian delegates including global business leaders and heads of Indian companies, the DPIIT Secretary said.  

“The B20 India will officially convey its recommendations to the G 20 presidency during the B20. Summit,” the Secretary told reporters, adding that the main recommendations will be across various domains including fostering resilient local trade, workforce transformation and energy transition, digital transformation, financing for economic recovery, financial inclusion, tech and innovation, ESG in business and African economic integration.  

“The intention is that it will also give an opportunity to showcase India’s growth story to the global CEOs,” Singh said.  

Some CEOs have also sought time from the government for meetings, he said though he did not elaborate further.  

A total of 110 meetings have been planned under the B20 of which 93 have already taken place.