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Union Commerce and Industry Minister Piyush Goyal held separate meetings with Scotland's First Minister John Swinney and former Chilean President Eduardo Frei, focusing on expanding India's trade and investment partnerships with the United Kingdom and Latin America.
The discussions with Scotland focused on exploring new opportunities under the India-UK Comprehensive Economic and Trade Agreement (CETA), particularly in semiconductors, renewable energy, data centres and other technology-driven sectors. In a post on social media platform X, Goyal said, "We held productive discussions on advancing the IndiaScotland economic and trade partnership, anchoring our shared priorities within the transformative framework of the IndiaUK Comprehensive Economic and Trade Agreement (CETA) to unlock new avenues in bilateral trade, investment, and innovation." The minister said the meeting also covered cooperation in higher education, science, space and tourism, along with opportunities to strengthen partnerships between industries in both countries. "Discussions focused on expanding cooperation in higher education, renewable energy, semiconductors, data centres, science, space and tourism, while exploring new opportunities for trade, investment and stronger industry-to-industry partnerships," Goyal stated. The meeting comes as India and the UK work towards expanding business opportunities under their trade agreement, which came into force on July 15, 2026. According to the Ministry of Commerce and Industry, the agreement provides zero-duty market access for nearly 99 per cent of India's exports to the UK, creating opportunities for Indian exporters and businesses. Separately, Goyal met former Chilean President Eduardo Frei, who is serving as Ambassador on a Special Mission, along with delegates from Chile and the Development Bank of Latin America and the Caribbean (CAF). "Exchanged views on strengthening India-Chile economic ties and exploring new avenues for trade, investment, and business collaboration, while deepening our engagement with the Latin American and Caribbean region," Goyal said in another post on X. The meeting assumes significance as India and Chile are negotiating a Comprehensive Economic Partnership Agreement (CEPA) to expand bilateral economic cooperation. According to an August 30 statement from the Ministry of Commerce and Industry, both countries are targeting the conclusion of CEPA negotiations by the end of 2026. India and Chile already have a preferential trade agreement, which the proposed CEPA seeks to build upon. The proposed agreement is also significant for India's efforts to strengthen access to critical and strategic minerals, which have been identified as a priority in the negotiations. The two meetings reflect India's efforts to deepen economic engagement with established trading partners while expanding opportunities in Latin America. However, Goyal's posts did not announce any new investment commitments or agreements arising from the meetings. (ANI)
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