AMN
India’s Commerce and Industry Minister Piyush Goyal has underlined the transformative potential of the recently signed India–UK Free Trade Agreement (FTA), calling it a pivotal step towards a more dynamic and mutually beneficial economic partnership.
Speaking at the India Global Forum (IGF) 2025 in London, Goyal positioned the FTA as a milestone in India’s global trade strategy. He emphasized that the agreement reflects the shared vision and ambition of two robust democracies and is more than just a legal framework — it’s a forward-looking roadmap for deeper economic integration.
The FTA, signed in May 2025, was hailed by Goyal as a symbol of India’s growing economic leadership and strategic intent on the world stage. He stressed that the deal is crafted to balance national interests while opening up new frontiers in trade and innovation.
Goyal shared the stage with UK Secretary of State for Business and Trade, Jonathan Reynolds, in a session moderated by international journalist Mark Barton. The conversation spotlighted the next steps in implementing the agreement — from building institutional mechanisms for governance to ensuring swift benefits for small businesses, startups, and skilled professionals.
During his visit, Goyal also addressed a special event at London’s Science Museum on June 19, focused on the evolving UK–India partnership in science, technology, and innovation. The session explored how British investors and researchers can align with India’s growing digital infrastructure, clean energy initiatives, and advanced manufacturing ambitions.
Key areas of future cooperation include:
- Sustainable manufacturing
- Green and digital technologies
- Fintech and artificial intelligence
- Creative industries
- Defence production and critical technologies
Initiatives like Make in India and the PLI (Production Linked Incentive) schemes were discussed as vehicles to turn India into a global manufacturing hub. The discussions also delved into how India’s homegrown platforms such as UPI (Unified Payments Interface) and CoWIN could be scaled globally through bilateral collaboration.
The Ministry of Commerce summed up the strategic intent behind the FTA: “By leveraging the India–UK Free Trade Agreement, both countries aim to unlock new possibilities in goods, services, technology, and innovation — laying the foundation for shared prosperity.”
