Commerce Minister Piyush Goyal says the India-UK Free Trade Agreement will come into force on July 15….reports Asian Lite News Desk
The India-United Kingdom Free Trade Agreement (FTA) will come into force on July 15, Union Commerce and Industry Minister Piyush Goyal announced on Saturday, describing it as a major step in expanding market access for Indian businesses and strengthening the country’s global trade footprint.
Addressing a press conference in Mumbai, Goyal said India has signed nine free trade agreements under the leadership of Prime Minister Narendra Modi, opening access to 38 developed countries and creating new opportunities for exporters, entrepreneurs and workers.
The minister said the agreements had helped expand international markets for Indian goods and services while supporting employment generation across multiple sectors. He added that farmers, fishermen, women entrepreneurs and small businesses were among those expected to benefit from improved trade access.
Goyal said the implementation of the India UK FTA next month would further strengthen economic ties between the two countries and provide a boost to trade and investment flows. He also pointed to the Prime Minister’s recent discussions in France, saying they would contribute to stronger economic cooperation and future growth opportunities.
Reviewing the government’s performance over the past 12 years, Goyal said India had transformed itself from a country of potential into a more self reliant economy despite facing major global challenges, including the Covid 19 pandemic and the Russia Ukraine conflict.
According to the minister, the government had used periods of international uncertainty to strengthen India’s economic position and improve its standing on the global stage.
He also highlighted what he described as growing international recognition for Prime Minister Modi, noting that the Indian leader had received the highest civilian honours from 33 countries.
Turning to domestic achievements, Goyal said the government’s welfare programmes had focused on ensuring benefits reached citizens directly through technology driven delivery systems.
He said more than 55 crore bank accounts had been opened under the Pradhan Mantri Jan Dhan Yojana, with women accounting for over 32 crore account holders. The minister added that free food grain support had continued for more than 81 crore beneficiaries since the pandemic.
Goyal also cited the Ayushman Bharat health insurance scheme, under which more than 60 crore health cards have been issued, and the Pradhan Mantri Suraksha Bima Yojana, which he said now provides insurance coverage to more than 58 crore people.
Highlighting infrastructure and social welfare initiatives, he said over four crore houses had been delivered through the Pradhan Mantri Awas Yojana, while more than 11 crore women had benefited from LPG connections under the Ujjwala scheme. He also pointed to the construction of more than 12 crore toilets under the Swachh Bharat Mission.
The minister said the government’s long term objective remained achieving a developed India by 2047, a goal he said was being pursued through economic growth, infrastructure development and social welfare programmes.
He also claimed that internal security had improved significantly in recent years, citing efforts to counter terrorism and integrate young people from former Maoist affected regions into mainstream society.
Goyal said the collective aspiration of 140 crore Indians to build a developed nation would continue to guide government policy in the years ahead.
