India-UK FTA A Historic 'Win-Win Deal', Secures 99 Per Cent Duty Free Access, Says Piyush Goyal

Speaking in New Delhi, Goyal stressed that the deal would unlock “immense opportunities” for India’s farmers, fishermen, young professionals, MSMEs, and the business community.

Goyal emphasised that the pact, formally called the Comprehensive Economic and Trade Agreement (CETA), has been more than two decades in the making.

Source : ANI

Commerce and Industry Minister Piyush Goyal on Saturday hailed the recently signed India-UK free trade agreement (FTA) as a landmark achievement, describing it as the country’s “biggest and most comprehensive” trade pact to date.

Speaking at a press briefing at the BJP headquarters in New Delhi, Goyal stressed that the deal would unlock “immense opportunities” for India’s farmers, fishermen, young professionals, micro, small and medium enterprises (MSMEs), and the business community.

“India’s Cabinet has already approved the India-UK FTA and now after UK's parliament ratification process is completed, the agreement will be operational,” the minister told reporters.

#WATCH | Delhi: On the India-UK FTA, Minister of Trade and Industry, Piyush Goyal says, "PM Narendra Modi and UK PM Keir Starmer signed a Free Trade Agreement. Cabinet approval has been given in India, but Parliamentary approval in the UK is pending. It will be a game-changing… pic.twitter.com/xhrkh0B1fq

— ANI (@ANI) July 26, 2025

A ‘Win-Win’ Agreement Years in the Making

Goyal emphasised that the pact, formally called the Comprehensive Economic and Trade Agreement (CETA), has been more than two decades in the making. “India-UK signed a win-win FTA in favour of both nations involved after almost 22-23 years of talks,” he said.

The deal, signed in the presence of Prime Minister Narendra Modi and British Prime Minister Keir Starmer, was concluded by Goyal and his UK counterpart Jonathan Reynolds on Thursday. It provides duty-free access for 99 per cent of India’s exports to the UK, covering virtually the entire trade basket.

India, however, opted to protect certain agricultural sectors by excluding dairy products, apples and cheese from tariff concessions.

FTAs With Other Nations Progressing

In his address, Goyal also provided an update on ongoing trade negotiations with other partners, including the European Union, the United States, Peru, Chile and Oman. “India does not have a trade war with any country. All our FTAs are progressing with the right speed, with the right intent and in the right direction,” he noted, adding that each pact would be tailored to the needs of the nations involved.

Goyal used the occasion to criticise the previous UPA government, accusing it of entering into agreements that “would endanger India's manufacturing capacities like the one with the ASEAN.” By contrast, he said, Prime Minister Narendra Modi’s government has signed FTAs with Mauritius, Australia, the UAE, the EFTA countries and now the UK, focusing on partners “which do not compete with us, but complement us.”