Currently on a 3-day visit to the UK ahead of implementation of the India-UK Comprehensive Economic and Trade Agreement (CETA) and the Double Contribution Convention (DCC) on 15th July 2026, he said: “Ministers may have changed, but I must compliment the UK for continuity in decisions and continuity in following through what was already negotiated.”
Pointing out the complementarities between both the sides, he noted that India can benefit from the UK’s growth imperatives while the UK can benefit from lower costs offered by India, as he quipped: “At your cost structure, it will be impossible to get into many markets, but when we work collectively, UK and India together and bring down cost to competitive levels, we can capture markets in Asia and Africa and Latin America, if not the developed world.”
During the visit, Goyal will hold a high-level bilateral meeting with UK’s Secretary of State for Business and Trade Peter Kyle for operationalisation of the agreements.
Bilateral discussions are expected to focus on aligning regulatory roadmaps, streamlining cross-border customs coordination and finalising administrative mechanisms to facilitate the smooth implementation of CETA and the DCC.
The Ministers will review preparedness for the implementation of CETA’s tariff liberalisation commitments, which India’s Commerce Ministry said “will provide enhanced market access opportunities for Indian exports.”
Discussions will also cover the operational roadmap for the DCC, which is expected to establish a streamlined mechanism to address dual social security contribution requirements for eligible temporary workers by supporting greater mobility of professionals and businesses.
Both sides will further discuss the operationalisation of mutual market access commitments across key services sectors and review measures aimed at strengthening bilateral trade and investment ties.
As part of the visit, Goyal will participate in a series of Government-to-Business (G2B) engagements with industry leaders, investors and corporate representatives to further strengthen commercial partnerships.
He is scheduled to address the opening plenary session of the India Global Forum (IGF), where he will speak on the theme, “Capital, Innovation and the UK-India Moment.”
The session will focus on emerging opportunities for global businesses in the context of the forthcoming implementation of the India-UK CETA.
Goyal will hold standalone interactions with senior executives of leading global companies, including HSBC (Global Trade Solutions) and Rolls-Royce, to discuss strategic investments, industrial collaboration, and the expansion of manufacturing partnerships in India.
He will also participate in a business plenary by the UK-India Business Council (UKIBC) featuring top representatives from MNCs like Tata, TCS, HSBC, Prudential, De Beers and Baker McKenzie, to discuss opportunities for trade, investment and business collaboration under the India-UK economic partnership.
To deepen engagement with institutional investors and global industry leaders, Goyal will lead an exclusive roundtable discussion hosted by Asia House, where senior executives from international financial and industrial institutions including J.P. Morgan, Standard Chartered, Lloyds, Morgan Stanley and Arup will participate in discussions on India’s industrial competitiveness, investment landscape and integration with global supply chains.
India and the UK had signed an FTA on 24th July 2025 along with a convention to prevent double taxation. Prime Ministers Narendra Modi and Keir Starmer had termed it a key milestone, with the goal of doubling trade to $120 billion by 2030.
The deal lowered average tariffs on UK’s products in India from 15% to 3%, while providing duty-free access for 99% of Indian exports to the UK.
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