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Key Points

India's recent Free Trade Agreement with the UK represents a significant milestone in the country's economic journey. Commerce Minister Piyush Goyal emphasized the deal as a testament to India's growing global influence under Prime Minister Modi's leadership. The agreement is expected to unlock new opportunities across multiple sectors and reinforce India's position as an emerging economic powerhouse. By 2027, India aims to become the world's third-largest economy, reflecting its transformative economic potential.

Key Points: Goyal Hails India-UK FTA as Global Economic Milestone

  • India-UK FTA marks most comprehensive trade deal to date
  • Modi's leadership enabling negotiations with developed economies
  • Projected to become third-largest global economy by 2027
  • Agreement opens opportunities across agriculture, services, and technology sectors
2 min read

India-UK FTA reflects nation's growing strength: Piyush Goyal

Piyush Goyal highlights India-UK Free Trade Agreement as symbol of national strength and global economic transformation under Modi's leadership

"India is not just being seen -- it is dominating global markets. - Piyush Goyal"

Mumbai, July 27

Union Commerce and Industry Minister Piyush Goyal on Sunday said that the India-UK Free Trade Agreement (FTA) reflects the growing strength of the country.

Speaking to media on the sidelines of a felicitation ceremony here, the Union Minister described the FTA as the most comprehensive free trade agreement India has signed to date.

"This agreement is a result of the trust Prime Minister Narendra Modi has built globally. It has enabled India to negotiate and finalise trade deals with developed nations, not as competitors but as complementary partners," said Goyal.

He said the FTA would unlock new opportunities for India and is a testament to the country's rising stature on the world stage.

The minister noted that over the past 11 years, under the leadership of Prime Minister Modi, India has transformed from a fragile economy into one of the world's top five.

"By 2027, India will become the third-largest economy globally," he added.

Goyal also highlighted that India's growing confidence has empowered it to engage in successful free trade agreements with advanced economies.

Negotiations are currently underway with countries such as New Zealand, Oman, and the United States, as well as with the 27-member European Union.

He further emphasised that the PM Modi government has opened new avenues for farmers, fishermen, and industries, leading to a sharp rise in exports.

The government aims to double exports in the next five years. "Millions of youth are finding employment in the services sector, and the world now recognises PM Modi as one of the most respected and popular global leaders," Goyal said.

Meanwhile, in a post on social media platform X, the minister also said that "Today, India is not just being seen -- it is dominating global markets."

He also spoke in detail about the benefits the India-UK Free Trade Agreement is bringing to various sectors such as agriculture, MSMEs, gems and jewellery, the fishing community, textiles, electronics and IT, and services.

Goyal added, "Under Prime Minister Modi's decisive leadership, India has established a strong and influential identity on the global stage. The India-UK FTA is a living example of that progress. It is a historic agreement that is opening new doors for every section of Indian society."

He further said that this step is extremely significant in every sense, as it will help fulfill the vision of a developed India by 2047.

- IANS

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Reader Comments

P
Priya S
While I appreciate the government's efforts, I hope this FTA actually benefits small businesses and farmers as claimed. Too often these agreements favor big corporations. Let's wait and see the real impact.
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Vikram M
As someone in the IT sector, I'm excited about the new opportunities this might bring. But the government must ensure Indian workers get fair treatment and equal opportunities in UK markets.
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Rohit P
The textile industry in my hometown has been struggling. I hope this agreement brings some relief and opens up new markets for our traditional crafts and fabrics.
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Sarah B
As an expat in India, I've seen the economic transformation firsthand. This FTA is a smart move that will benefit both countries. More such partnerships should be encouraged!
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Ananya R
The government should also focus on skill development programs to prepare our workforce for these new opportunities. Mere agreements won't help if our youth aren't job-ready.
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Michael C
Interesting development. As a UK businessman, I'm looking forward to exploring new partnerships with Indian companies. The potential for mutual growth is enormous.

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