UK-India FTA to Be India's Most Comprehensive Agreement, Says Piyush Goyal
Speaking at the India Global Forum's Capital & Future Frontiers Forum in London on June 29, 2026, India's Minister of Commerce and Industry, Piyush Goyal, declared that the upcoming UK-India Free Trade Agreement (FTA) will be the most comprehensive trade agreement India has ever signed. The FTA is scheduled to come into force in July 2026.
Goyal made the remarks during the opening fireside chat with UK Business and Trade Secretary Peter Kyle at the event, which is part of the 10th edition of UK-India Week. The forum, held at One Moorgate Place, London, brought together senior ministers, CEOs, investors, and technology experts to discuss the future of UK-India trade, capital, and technology partnerships.
FTA as a Milestone in UK-India Relations
Goyal emphasized that the UK-India FTA represents a significant step in India's global trade strategy. "Every trading relationship and every partnership stands on its own legs. The UK Free Trade Agreement is going to be the most comprehensive agreement that India has entered into so far," he said. The agreement is expected to deepen bilateral cooperation in goods, services, investment, innovation, and future industries.
UK Business and Trade Secretary Peter Kyle highlighted the broader reset in UK-India relations, stating, "The UK-India FTA was part of a comprehensive resetting of the relationship between Britain and India. When two leaders are so committed to something, and their rapport and relationship are so strong, it puts a rocket under us when it comes to breaking down barriers."
Bilateral Trade Growth and Future Projections
Manoj Ladwa, Founder and Chairman of India Global Forum, reflected on the evolution of the bilateral relationship over the past decade. He noted that bilateral trade has grown from approximately £17 billion when UK-India Week began to nearly £48 billion today. The FTA is projected to further increase bilateral trade in the long run.
Ladwa stated, "The question is no longer simply how Britain invests in India. It is now how Britain and India build together, with capital, technology, institutions and ambition flowing in both directions." He added, "History will not judge us by the conversations we have had. It will judge us by what we build next: the businesses we create, the capital we deploy, the technologies we commercialise, the regions we connect and the partnerships we sustain through disciplined execution."
Focus on Technology, Capital, and Future Industries
The forum examined key forces reshaping the global economy, including capital flows, geopolitics, artificial intelligence, energy security, life sciences, semiconductors, and the future of sport. Sessions explored deeper UK-India capital partnerships, structured investment, and trusted collaboration in frontier technologies.
Kanishka Narayan MP, Parliamentary Under-Secretary for AI and Online Safety, discussed technology security, saying, "Strategic autonomy isn't about building an island. It's about building bridges that make Britain stronger and give us greater leverage."
Kiran Mazumdar-Shaw, Chairperson of Biocon Ltd, highlighted the transformative role of AI in biotechnology and life sciences: "Biotech is a huge opportunity because computational biology has never been at this scale before. AI has made a transformational difference to the way we look at life sciences."
India's Growth Story Attracts Global Investment
Senior leaders discussed opportunities in capital markets, clean energy, sport, compute, semiconductors, life sciences, advanced manufacturing, and regional investment. Aryaman Birla, Director of Aditya Birla Group and Chairman Designate of Royal Challengers Bengaluru, spoke about the rise of world-class sporting franchises and the growing economic potential of sport as an investment category.
Kanubhai Desai, Finance Minister of Gujarat, highlighted Gujarat's robust financial landscape and stable policy framework, reinforcing the state's attractiveness for long-term investment.
Rajan Bharti Mittal, Vice Chairman of Bharti Enterprises, offered a powerful assessment of India's growth proposition: "If India isn't on the agenda of every global CEO, I'd question that CEO. Where else do you find meaningful long-term growth? India is fundamentally a consumption story, powered by a young, educated middle class, manufacturing momentum and trust." He added that India offers long-term confidence through rule of law, democracy, independent regulators, and a strong judiciary.
Next Decade of UK-India Partnership
The Capital & Future Frontiers Forum reinforced that the FTA is not the destination but the platform for a new decade of investment, innovation, and strategic partnership. The discussions built on earlier UK-India Week engagements, including the Gujarat-West Midlands Steering Committee and Gujarat Future Forum, which focused on regional delivery and investment readiness.
The forum was followed by the UK-India Awards 2026, celebrating people and institutions strengthening the bilateral partnership.
About India Global Forum
India Global Forum (IGF) is a global platform for leaders from business, government, policy, academia, and culture to engage with contemporary India and its growing global role. Through high-level forums, strategic dialogues, delegations, reports, and curated networks, IGF advances partnerships, investment flows, and thought leadership across the India growth story.
