Commerce and Industry Minister Piyush Goyal has said, the Free Trade Agreement (FTA) with the UK is the most comprehensive agreement that India has entered into so far. Addressing the India Global Forum (IGF) UK-India Week in London today, Mr. Goyal said, sky is the limit in terms of the economic benefits that will flow from the agreement.

 

The minister reached the UK on a three-day visit to review the preparedness of both countries for the implementation of the India-UK Comprehensive Economic and Trade Agreement (CETA), which will enter into force from July 15. He exhorted businesses in both countries to seize the moment and set ambitious targets to boost the estimated 48-billion-pound annual bilateral trading partnership on the back of CETA.

 

Mr Goyal, referring to the India-UK Free Trade Agreement, said the agreement is helping Indian industries evolve, become more competitive and complement businesses in the United Kingdom. He added that the agreement will further integrate both countries into global value chains and open new avenues for economic cooperation and growth.

 

Mr Goyal said that the two countries are steadily expanding cooperation across several key sectors, including defence and critical minerals. The Minister noted that India and the United Kingdom share a common commitment to combating terrorism and promoting global peace, stability and prosperity.