Last Updated Jul - 26 - 2025, 05:33 PM | Source : Fela News
Union Minister Piyush Goyal hails the India-U.K. FTA as a transformative deal benefiting farmers, MSMEs, and youth. 99% of Indian exports to the U.K. will now b
Union Commerce and Industry Minister Piyush Goyal on Saturday (July 26, 2025) described the India-U.K. Free Trade Agreement (FTA) as a "game-changer" that will benefit a wide range of sectors in India, including farmers, the youth, MSMEs, and industries. He highlighted that under the agreement, 99% of Indian exports to the U.K. will enjoy duty-free access.
The FTA, officially known as the Comprehensive Economic and Trade Agreement, was signed on Thursday (July 25, 2025) by Mr. Goyal and U.K. Trade Secretary Jonathan Reynolds, in the presence of Prime Minister Narendra Modi and British Prime Minister Keir Starmer.
Speaking at a press conference held at the BJP headquarters in New Delhi, Mr. Goyal credited Prime Minister Modi's leadership for the successful conclusion of the trade deal. He emphasized that the agreement opens up "tremendous opportunities" for Indian farmers, workers, the MSME sector, youth, and fishermen. The agreement, he added, was signed with confidence, on India's terms, while safeguarding sensitive sectors such as agriculture and ethanol.
Taking a swipe at the previous UPA government, Mr. Goyal alleged that past trade policies had opened Indian markets in a way that adversely affected the country. In contrast, he said, this FTA represents a forward-looking economic vision that will yield long-term benefits for India.
The agreement will take effect once it receives approval from the U.K. Parliament. Mr. Goyal urged Indian businesses to analyze the agreement and begin exploring new export opportunities in sectors such as footwear, leather, toys, pharmaceuticals, gems and jewellery, food processing, and services.
Jul - 26 - 2025
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Jul - 26 - 2025
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