A New Era: The India-UK Free Trade Partnership Unveiled

The recently concluded India-UK Free Trade Agreement (FTA) promises to bring significant stability and predictability to businesses in both nations, according to India's Commerce and Industry Minister, Piyush Goyal. At the India Global Forum in London, discussions highlighted the treaty's potential to double bilateral trade within five years.

Goyal praised the 'good marriage' between India and the UK, emphasizing how the FTA paves the way for greater investments and enhanced economic partnership. By focusing on building strong business connections and understanding the nuanced benefits of the deal, the agreement aims to foster innovation and strengthen supply chains between the nations.

UK's Secretary of State, Jonathan Reynolds, expressed enthusiasm for the FTA, describing it as a substantial economic win post-Brexit. Both ministers reflected on their personal diplomacy, overcoming challenges since early 2022, to ensure the trade treaty addresses equity and tax fairness, notably through the Double Contribution Convention.

(With inputs from agencies.)