India-UK FTA paves way for actionable cooperation in trade, technology: Piyush Goyal

New Delhi, June 19 (IANS) Commerce and Industry Minister Piyush Goyal has reaffirmed India’s commitment to transitioning the free trade agreement (FTA) from a negotiated text into a transformative economic partnership, the ministry said on Thursday.

The minister showcased India’s strategic global outlook and economic leadership at the India Global Forum (IGF) 2025 in London. His visit marked a significant moment following the historic signing of the India–UK Free Trade Agreement (FTA) in May 2025.

Delivering the keynote address, the Union Minister described the FTA as a reflection of shared ambition between two vibrant democracies. He stated that the agreement not only enhances bilateral trade, but also demonstrates India’s ability to negotiate balanced and future-oriented trade frameworks aligned with its national interests.

Goyal was joined by UK Secretary of State for Business and Trade, Jonathan Reynolds, with moderation by international journalist Mark Barton.

Outlining the next phase of implementation, Goyal highlighted key priorities such as strengthening institutional mechanisms for joint governance, unlocking early benefits for SMEs and startups, and facilitating smooth mobility of skilled professionals across sectors.

On June 19, the Union Minister participated in a special session on “UK–India Science, Technology and Innovation Collaboration” at the Science Museum in London.

The session explored opportunities for UK stakeholders to contribute to India’s expanding investments in digital public infrastructure, sustainable manufacturing, and green technologies.

Discussions also covered efforts to make India a global manufacturing hub through Make in India, PLI schemes, and enhancing collaboration in sectors such as fintech, artificial intelligence, and creative industries, according to the ministry.

The FTA’s role in deepening cooperation in critical technologies, defence production, and advanced manufacturing was also highlighted. The session further examined how innovations like UPI and CoWIN can be scaled globally through bilateral collaboration.

“By leveraging the India–UK FTA, both nations aim to unlock new avenues in goods, services, technology, and innovation for shared prosperity,” said the ministry.

–IANS

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