At the Future Frontiers Forum in London on Thursday (June 19), Piyush Goyal highlighted the “risks associated with deepfakes and misinformation” and called for a comprehensive international regulatory framework for the ethical use of artificial intelligence (AI).
Goyal outlined
four crucial priorities for transitioning the India-UK FTA from “agreement to action”:
- Creating a robust institutional structure for collaborative governance.
- Delivering early benefits for MSMEs and startups through specific provisions.
- Enabling seamless mobility of skilled professionals in high-growth sectors such as AI, fintech, and creative industries.
- Enhancing collaboration in critical technologies, defence manufacturing, and advanced production.
He also underscored that the FTA paves the way for the global scaling of Indian innovations like UPI and CoWIN, enabling their frameworks to be adapted and exported to other nations through India-UK partnerships.
During his address at the India Global Forum’s UK-India Week on Wednesday (June 18), Goyal stressed that the FTA is set to provide “stability and predictability” for businesses on both sides, with the potential to double bilateral trade within five years.
The India-UK FTA, completed on May 6, eliminates tariffs on 99% of tariff lines, encompassing almost the entirety of bilateral trade in goods and services. Goyal indicated that this agreement embodies India’s approach to seek high-value agreements with developed economies that do not compete, facilitating quicker market access and knowledge sharing.
His visit to London aims to further operationalise the FTA’s institutional framework and enhance cross-sectoral investment flows.
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(Edited by : Shoma Bhattacharjee)
First Published: Jun 19, 2025 7:40 PM IST
