"UK-India Free Trade Agreement will be India's most comprehensive agreement so far": Piyush Goyal at UK-India Week 2026

PRNewswire
London [UK], June 29: The UK-India Free Trade Agreement took centre stage at India Global Forum's Capital & Future Frontiers Forum today, as Hon Piyush Goyal, Minister of Commerce and Industry, Government of India, described it as the most comprehensive trade agreement India has entered into so far.
- Capital & Future Frontiers Forum brings together senior ministers, CEOs, investors and innovators to chart the next decade of UK-India trade, capital and technology partnership
Held at One Moorgate Place, London, as part of the landmark 10th edition of UK-India Week, the Forum brought together senior ministers, business leaders, investors, founders, policymakers and technology experts to examine how the UK and India can translate the FTA and Vision 2035 into long-term economic growth, capital flows, innovation and commercial partnerships.
The opening fireside chat featured Hon Piyush Goyal and Rt Hon Peter Kyle MP, Secretary of State for Business and Trade and President of the Board of Trade, UK Government, setting the political and economic context for the next phase of the UK-India relationship.
A defining moment for UK-India trade
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 UK-India FTA as a major milestone in India's global trade strategy and a platform for deeper bilateral cooperation across goods, services, investment, innovation and future industries.
UK Business & Trade Secretary Peter Kyle said the agreement formed part of a broader reset in UK-India relations.
"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."
From ambition to execution
Addressing the gathering, Manoj Ladwa, Founder and Chairman, India Global Forum, reflected on the 10th anniversary of UK-India Week and the evolution of the bilateral relationship from goodwill and ambition to structured execution.
He highlighted that bilateral trade has grown from roughly £17 billion when UK-India Week began to nearly £48 billion today, with the FTA projected to increase bilateral trade further in the long run.
Manoj Ladwa said:
"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."
Capital, technology and the future economy
The Forum examined the forces reshaping the global economy, from capital and geopolitics to artificial intelligence, energy security, life sciences, semiconductors and the future of sport.
Sessions explored how deeper UK-India capital partnerships can move from episodic flows to more structured investment, how India can attract greater weight in global portfolios, and how both countries can build trusted collaboration in frontier technologies.
Speaking during a discussion on technology security, Kanishka 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 examined the future of biotechnology and life sciences, with Kiran Mazumdar-Shaw, Chairperson, Biocon Ltd, highlighting the transformational role of AI.
"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 and global capital
Across the programme, senior leaders discussed opportunities in capital markets, clean energy, sport, compute, semiconductors, life sciences, advanced manufacturing and regional investment.
Aryaman Birla, Director, Aditya Birla Group and Chairman Designate, Royal Challengers Bengaluru, spoke about the rise of world-class sporting franchises and the growing economic potential of sport as a serious investment category.
Kanubhai Desai, Finance Minister, Government of Gujarat, highlighted Gujarat's robust financial landscape and stable policy framework, reinforcing the state's position as one of India's most attractive destinations for long-term investment.
The Forum closed with Rajan Bharti Mittal, Vice Chairman, Bharti Enterprises, who offered a powerful assessment of India's long-term growth proposition for global CEOs.
Rajan Bharti Mittal said:
"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 investors long-term confidence through rule of law, democracy, independent regulators and a strong judiciary, positioning the country as a trusted partner for global business.
The next decade of UK-India opportunity
The Capital & Future Frontiers Forum reinforced a central message of UK-India Week 2026: 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 in the West Midlands and at India House, including the Gujarat-West Midlands Steering Committee and Gujarat Future Forum, which focused on regional delivery, investment readiness and the practical implementation of the UK-India economic corridor.
The Forum was followed by the prestigious UK-India Awards 2026, India Global Forum's flagship celebration recognising the people, businesses and institutions strengthening one of the world's most consequential bilateral partnerships.

About India Global Forum
India Global Forum is a global platform for leaders from business, government, policy, academia and culture to engage with contemporary India and its growing role in the world. Through high-level forums, strategic dialogues, delegations, reports and curated networks, IGF works to advance partnerships, investment flows and thought leadership across the India growth story and its global corridors.
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