{"id":856578,"date":"2025-06-19T09:11:39","date_gmt":"2025-06-19T14:11:39","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/06\/19\/india-uk-free-trade-pact-provides-stability-predictability-to-business-piyush-goyal-in-london\/"},"modified":"2025-06-19T09:11:39","modified_gmt":"2025-06-19T14:11:39","slug":"india-uk-free-trade-pact-provides-stability-predictability-to-business-piyush-goyal-in-london","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/06\/19\/india-uk-free-trade-pact-provides-stability-predictability-to-business-piyush-goyal-in-london\/","title":{"rendered":"India-UK free trade pact provides stability, predictability to business: Piyush Goyal in London"},"content":{"rendered":"

Home<\/a><\/span>India News<\/a><\/span>India-UK free trade pact provides stability, predictability to business: Piyush Goyal in London<\/span><\/p>\n

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India-UK Free Trade Agreement brings stability for businesses, aims to double trade in five years, boosting investments and innovation, says Commerce Minister Piyush Goyal.<\/h2>\n<\/p>\n
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\"Profile<\/p>\n

By PTI\u00a0<\/span>June 18, 2025, 11:36:14 PM IST (Published)<\/span><\/span><\/p>\n<\/div>\n

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\"India-UK<\/p>\n

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The India-UK Free Trade Agreement (FTA) brings \u201dstability and predictability\u201d for businesses in both the countries, Commerce and Industry Minister Piyush Goyal said on Wednesday (June 18).<\/p>\n

\nDuring a session at the India Global Forum (IGF) UK-India Week titled \u2019Agreement to Action in the UK-India FTA\u2019, the minister shared his optimism around the \u201dgood marriage\u201d agreed between both the countries, which will lead to doubling the bilateral trade in five years.<\/p>\n

\n\u201dA free trade agreement brings stability and predictability to the relationship between two countries,\u201d said Goyal.<\/p>\n

\n\u201dThat gives confidence to business to start investing in each other\u2019s economy and I think this will also pave the way for greater investments in the two economies, add to our trade in goods and services\u2026 India and UK can partner in innovation to work together to bring more resilient supply chains, working with each other, complementing each other and adding value and profits to both countries,\u201d he said.<\/p>\n

Earlier in the day the minister arrived in London<\/a> on a two-day visit to discuss with his UK counterpart Jonathan Reynolds the next steps towards implementation of the Free Trade Agreement (FTA), and explore ways to boost trade and investment between the two countries.<\/p>\n

\nIn their first joint public intervention since the FTA negotiations concluded last month, Reynolds said he was \u201dgenuinely excited\u201d about the prospects opened up with the FTA.<\/p>\n

Also Read: India launches \u2018Operation Sindhu\u2019 to evacuate citizens from conflict zones in Iran<\/a><\/strong><\/p>\n

\nReynolds had told the House of Commons last week that the trade deal is estimated to increase bilateral trade in the long run by GBP 25.5 billion every year \u2013 from the current annual estimate of GBP 41 billion \u2013 as tariffs are slashed across key sectors on both sides.<\/p>\n

\n\u201dThis trade agreement is a huge economic win for the UK \u2014 the biggest trade deal since Brexit and the best deal that India has ever offered,\u201d Reynolds had told the Parliament.<\/p>\n

\nOn the Indian side, the Ministry of Commerce and Industry highlighted significant positive gains for employment in the country, offering a substantial improvement in competitiveness of Indian goods in the UK vis-a-vis other countries as well as easing mobility for professionals.<\/p>\n

\nThe FTA, announced on May 6 with a target to double trade between the two economies to USD 120 billion by 2030, is now undergoing a process of legal text formalisation before it can come into force.<\/p>\n

\n\u201dBoth leaders will review the progress made in the ongoing FTA negotiations and chart out a clear, time-bound roadmap for its finalisation and implementation,\u201d the commerce ministry said in a statement on Wednesday.<\/p>\n

\nDuring his two-day UK visit, Goyal is also set to hold talks with Chancellor Rachel Reeves to discuss macroeconomic priorities, financial cooperation, and investment facilitation between the two countries.<\/p>\n

\nBesides, the minister is scheduled to meet Secretary of State for Culture, Media and Sport Lisa Nandy to explore avenues of collaboration in creative industries and innovation-driven sectors.<\/p>\n

\n\u201dThese engagements will bring together global business leaders, investors, and policy experts to deliberate on the strategic contours of the India-UK economic corridor and the transformative impact of the proposed FTA,\u201d the statement said.<\/p>\n

\nAlso, the minister is expected to interact with leading CEOs and industry stakeholders from key sectors, including shipping, fintech, logistics, and advanced manufacturing, with a view to deepening commercial linkages and promoting cross-border investments.<\/p>\n

\nGoyal is also set to address a session on \u2019UK-India Science, Technology and Innovation Collaboration\u2019 at IGF London on Thursday.<\/p>\n

\nThe bilateral trade between India and the UK increased to USD 21.34 billion in 2023-24 from USD 20.36 billion in 2022-23.<\/p>\n

Also Read: Govt will continue to support fintech industry, says finance minister<\/a><\/strong><\/p>\n<\/div>\n<\/div>\n<\/section>\n

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Home India News India-UK free trade pact provides stability, predictability to business: Piyush Goyal in London India-UK Free Trade Agreement brings stability for businesses, aims to double trade in five years, boosting investments and innovation, says Commerce Minister Piyush Goyal. By PTI\u00a0 June 18, 2025, 11:36:14 PM IST (Published) The India-UK Free Trade Agreement (FTA)<\/p>\n","protected":false},"author":1,"featured_media":856579,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[124579,425],"tags":[],"class_list":{"0":"post-856578","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-india-uk","8":"category-trade"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/856578","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=856578"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/856578\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/856579"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=856578"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=856578"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=856578"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}