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Piyush Goyal said businesses in India and the UK are upbeat as the trade pact nears implementation on July 15. He said the agreement could widen commerce, deepen ties and create a timely opening for both countries.
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London,UPDATED: Jun 26, 2026 20:12 IST
Commerce and Industry Minister Piyush Goyal on Friday said there is a lot of "excitement and a great deal of optimism" among businesses in India and the UK over the trade agreement that will come into force on July 15. He is in the UK on a three-day visit to review how both countries are preparing to implement the Comprehensive Economic and Trade Agreement (CETA), which was signed last year.
Speaking to PTI on the sidelines of a business plenary interaction in London, Goyal said Prime Minister Narendra Modi's message, "yahi samay hai, sahi samay hai (This is the time, the right time)", strongly applies to the India-UK relationship. He said the agreement is expected to boost trade and business and deepen ties between the two countries.
"I have come with the largest-ever delegation to leave the shores of India. Nearly 170 businesspersons have accompanied me from across the length and breadth of India, across different sectors – big and small," Goyal said. He added that after extensive engagements with British businesses and the Indian delegation, he felt reassured that the India-UK Comprehensive Economic Trade Agreement "is a partnership that is good for both countries, is full of potential, goes beyond the typical trade in goods and services".
Goyal said the agreement is "very comprehensive", and said it would hopefully open the floodgates to not only greater trade and greater business, but also to strengthening the UK-India partnership. Referring to his call to businesses on both sides to "seize the moment", he said, "Very often in life, there is a moment in time that comes where there is some opportunity right in front of your eyes. At that point of time, if you miss out, probably the opportunity may never come again." He added, "As Prime Minister Modi said, yahi samay hai, sahi samay hai. And I think for the UK-India partnership, there can be no better comment than what Prime Minister Modi said; this is the moment, this is the right moment."
On the ongoing Bilateral Trade Agreement discussions with the US, Goyal said there is broad agreement on most aspects of a deal and reiterated that India is waiting for reassurances on "comparative advantage". "The only open issue that really is significant is how India will be provided with the comparative advantage over the other competing countries in the neighbourhood, ASEAN, which the United States team has assured to look into and find a solution," he said. Overall, Goyal said businesses in India and the UK are optimistic as the trade pact nears implementation, while talks with the US are largely aligned except for the remaining issue of comparative advantage.
With PTI Inputs
- Ends
Published By:
India Today Web Desk
Published On:
Jun 26, 2026 20:12 IST
