The UK-India Business Council expressed appreciation for the visit of UK’s Secretary of State for Business and Trade, Peter Kyle, to India. Emphasizing the need for prompt action, the council called for the rapid execution of the India-UK Free Trade Agreement (FTA). Secretary Kyle engaged in discussions with Commerce and Industry Minister Piyush Goyal to expedite the implementation of the FTA, aiming to enhance bilateral trade relations.
The FTA is expected to streamline trade processes by liberalizing 99% of UK tariffs and 90% of Indian tariffs, facilitating cost-effective and efficient cross-border trade. Signed in July 2025, the India-UK FTA is hailed as the UK’s most significant bilateral trade agreement post its departure from the European Union. Encompassing 30 chapters covering various sectors like trade, innovation, labor, environment, and gender cooperation, this agreement stands out as one of India’s most comprehensive trade pacts to date.
Dr. Kishore Jayaraman, Group CEO of UKIBC, highlighted the strategic importance of the impending India-UK FTA, noting its potential to unlock substantial opportunities for businesses and consumers in both nations. The agreement, nearing finalization after meticulous negotiations, is poised to capitalize on the current global economic landscape, fostering growth prospects for enterprises and customers in the UK and India.
The growing momentum in UK-India trade and investment underscores the mutual confidence and shared vision of businesses in strengthening economic ties between the two countries. Recent engagements, including virtual interactions between Goyal and the UK trade minister, underscore the commitment to deepening bilateral trade and investment collaborations while maximizing the benefits of the India-UK Comprehensive Economic Partnership Agreement (CETA).
