Currently on a three-day visit to the UK leading up to the implementation of the India-UK Comprehensive Economic and Trade Agreement (CETA) and the Double Contribution Convention (DCC) on July 15, 2026, he stated: “While ministers may have changed, I commend the UK for its consistency in decision-making and commitment to following through on prior negotiations.”
Highlighting the synergies between both nations, he remarked that India could leverage the UK’s growth strategies while the UK stands to gain from the cost advantages provided by India. He noted: “With your cost structure, entering many markets may be unfeasible, but by collaborating, UK and India can reduce costs to competitive levels, enabling us to capture markets in Asia, Africa, and Latin America, if not the developed world.”
During his visit, Goyal will engage in a high-level bilateral meeting with the UK’s Secretary of State for Business and Trade, Peter Kyle, to operationalize the agreements.
Bilateral talks will likely center around aligning regulatory frameworks, enhancing cross-border customs coordination, and finalizing administrative arrangements to ensure the seamless implementation of CETA and the DCC.
The ministers will evaluate the readiness for the implementation of CETA’s tariff liberalization commitments, which India’s Commerce Ministry highlighted as “providing enhanced market access opportunities for Indian exports.”
Topics will also include the operational plan for the DCC, intended to establish a streamlined method to tackle dual social security contribution requirements for eligible temporary workers while promoting greater mobility for professionals and businesses.
Additional discussions will focus on the mutual market access commitments across vital services sectors and measures designed to strengthen trade and investment relationships.
As part of his agenda, Goyal will engage in a series of Government-to-Business (G2B) interactions with industry leaders, investors, and corporate representatives to bolster commercial partnerships.
He is set to address the opening plenary session of the India Global Forum (IGF), speaking on the theme, “Capital, Innovation and the UK-India Moment.”
This session will highlight emerging opportunities for global businesses in light of the impending implementation of the India-UK CETA.
Goyal will also have one-on-one discussions with senior executives from leading global firms such as HSBC (Global Trade Solutions) and Rolls-Royce to explore strategic investments, industrial collaboration, and the growth of manufacturing partnerships in India.
Furthermore, he will participate in a business plenary hosted by the UK-India Business Council (UKIBC), featuring top representatives from major corporations like Tata, TCS, HSBC, Prudential, De Beers, and Baker McKenzie, focused on trade, investment, and business collaboration opportunities under the India-UK economic partnership.
To enhance engagement with institutional investors and global industry leaders, Goyal will lead an exclusive roundtable discussion organized by Asia House, where senior executives from major financial and industrial institutions, including J.P. Morgan, Standard Chartered, Lloyds, Morgan Stanley, and Arup, will discuss India’s industrial competitiveness, investment landscape, and integration with global supply chains.
India and the UK signed a Free Trade Agreement (FTA) on July 24, 2025, along with a convention to prevent double taxation. Prime Ministers Narendra Modi and Keir Starmer labeled it a significant milestone, aiming to double trade to $120 billion by 2030.
The agreement reduced average tariffs on UK products in India from 15% to 3%, while granting duty-free access for 99% of Indian exports to the UK.
Also Read: Why India is holding back on US trade deal — and what it wants before signing
