Piyush Goyal holds strategic talks with Rolls-Royce delegation to bolster advanced manufacturing in India
New Delhi, June 26
Union Minister of Commerce and Industry Piyush Goyal on Friday held a meeting with a Rolls-Royce delegation led by Chief Transformation Officer Nicola Grady-Smith, to discuss strengthening industrial and technological ties.
In an X post, Goyal noted that the meeting highlighted the potential of the India-UK Comprehensive Economic and Trade Agreement (CETA).
He emphasised that the agreement serves as a key opportunity to deepen bilateral investments, accelerate technological partnerships, and build resilient supply chains to provide mutual benefits to both nations.
"Held a productive meeting with a delegation led by Nicola Grady-Smith, Chief Transformation Officer at @RollsRoyce. Exchanged views on how India is rapidly emerging as a global hub for advanced manufacturing & engineering. Also, discussed how the India-UK CETA provides an opportunity to deepen investments, accelerate tech partnerships, & build resilient supply chains that benefit both India & the UK," he said.
Earlier today, Goyal dismissed concerns regarding potential economic drawbacks from the India-UK Comprehensive Economic and Trade Agreement, describing the pact as a carefully crafted framework that will benefit both nations.
Speaking at a business reception in London on Thursday, Minister Goyal emphasised that the agreement is designed to enhance economic growth and job creation without harming any domestic sectors.
The Minister stated that the agreement will provide "enablers" that assist both economies in improving their functional capabilities.
"What they will be adding to our economy will be enablers, which will actually help us do our job better for life. This agreement cannot hurt any sector in India. And likewise, I suspect this agreement will not hurt any sector in the UK also because it's been carefully crafted," the minister said.
He noted that the pact is expected to bolster new employment opportunities and drive business growth in India.
"They have a lot to offer us, and we have a lot to offer them. What we will be offering them will add to our economy and particularly to jobs, particularly to new employment, to businesses," Goyal added.
— ANI
Reader Comments
This is promising,but I hope we don't just become an assembly line for their products. We need actual R&D collaboration and intellectual property sharing. Let's learn from how South Korea moved from being a manufacturing base to an innovation leader. Make it win-win, not just cheap labor for Rolls-Royce.
Great news! Rolls-Royce's engineering standards are world-class. If this partnership takes off, it'll boost our aerospace ecosystem - from SMEs making components to skilled technicians getting high-quality jobs. And with CETA, we'll have better terms than waiting for a generic WTO deal. Progressive step for Make in India.
My only concern: we've been hearing 'strategic partnerships' for decades. From aircraft deals to nuclear cooperation, the actual local manufacturing percentage remains low. Hope Rolls-Royce genuinely commits to Make in India beyond just assembling kits here. Let's see concrete timelines and localization targets please!
This is exactly the kind of high-value collaboration we need. Aerospace manufacturing creates cascading benefits - from precision engineering to specialized logistics. And the minister's assurance that no sector will be hurt is reassuring. We should support trade deals that bring advanced capabilities to our shores. Well played, India!
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