Piyush Goyal Calls India-UK FTA India’s Most Comprehensive Trade Agreement at UK-India Week 2026
Commerce Minister says the agreement will take effect in July as leaders discuss trade, investment, technology and long-term economic cooperation.
The UK-India Free Trade Agreement (FTA) featured prominently at the India Global Forum's Capital & Future Frontiers Forum, held at One Moorgate Place, London, as part of the 10th edition of UK-India Week. The event brought together senior ministers, business leaders, investors, founders, policymakers and technology experts to discuss how the UK and India can utilise the FTA and Vision 2035 to strengthen long-term economic growth, capital flows, innovation and commercial partnerships.
The opening fireside discussion featured Hon Piyush Goyal, Minister of Commerce and Industry, Government of India, and Rt Hon Peter Kyle MP, Secretary of State for Business and Trade and President of the Board of Trade, UK Government. The discussion focused on the political and economic context shaping the next phase of UK-India relations.
Speaking at the Forum, Piyush Goyal said:
"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, and it will come into force in July."
His remarks positioned the agreement as an important element of India's trade strategy and a framework for expanding bilateral cooperation across goods, services, investment, innovation and future industries.
Peter Kyle said:
"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."
UK-India Trade Relationship and Future Cooperation
Addressing the gathering, Manoj Ladwa, Founder and Chairman of the India Global Forum, reflected on the evolution of UK-India Week over the past decade and the changing nature of bilateral engagement.
He noted that bilateral trade has grown from roughly £17 billion when UK-India Week began to nearly £48 billion today, with the FTA projected to further increase bilateral trade over the long term.
The Forum also examined global trends influencing economic growth, including capital flows, geopolitics, artificial intelligence, energy security, life sciences, semiconductors and the future of sport.
Discussions explored opportunities for deeper UK-India capital partnerships, structured investment, India's role in attracting greater global investment and collaboration in frontier technologies.
Technology, Life Sciences and Investment Discussions
During a session on technology security, Kanishk Narayan MP, Parliamentary Under-Secretary for AI and Online Safety, said:
"Strategic autonomy isn't about building an island. It's about building bridges that make Britain stronger and give us greater leverage."
The Forum also discussed developments in biotechnology and life sciences.
Kiran Mazumdar-Shaw, Chairperson, Biocon Ltd, said:
"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."
Senior leaders also discussed opportunities across capital markets, clean energy, sport, computing, semiconductors, life sciences, advanced manufacturing and regional investment.
Among the speakers were Aryaman Birla, Director, Aditya Birla Group; Chairman Designate, Royal Challengers Bengaluru; Kanubhai Desai, Finance Minister, Government of Gujarat; and Rajan Bharti Mittal, Vice Chairman, Bharti Enterprises.
UK-India Week Highlights Long-Term Partnership
The Capital & Future Frontiers Forum concluded with discussions highlighting the role of the UK-India FTA in supporting investment, innovation and strategic cooperation.
The programme built on earlier UK-India Week engagements in the West Midlands and at India House, including the Gujarat–West Midlands Steering Committee and the Gujarat Future Forum, which focused on regional collaboration, investment readiness and implementation of the UK-India economic corridor.