New Delhi: Union Minister of Commerce & Industry Piyush Goyal on Friday informed about a virtual interaction with UK Secretary of State for Business and Trade Peter Kyle to deepen bilateral trade and investment ties.
Both leaders explored ways to enhance trade & investment ties, while fully leveraging the India UK Comprehensive Economic and Trade Agreement (CETA), the minister said in a social media post.
In the previous week, Piyush Goyal had emphasised the importance of a balanced and responsive World Trade Organization (WTO) that effectively addresses the needs and aspirations of all members, particularly developing countries and Least Developed Countries (LDCs).
India is increasingly signing free trade agreements (FTAs) with economies where trade corridors are already expanding, and supply chains are already forming, a recent report has said.
These FTAs are functioning as accelerators of existing economic momentum, and in a fragmented global trading system, this targeted approach appears to be particularly resilient, it added.
The report said that between fiscal year 2020-21 and FY 2024-25, India’s trade with strategic FTA partners grew by 92 per cent – more than double the 41.5 per cent increase in India’s overall merchandise trade with the rest of the world.
The country has steadily expanded its network of free trade agreements over the past few years to reach nine FTAs spanning as many as 38 countries.
Starting with India–Mauritius in 2021, the India–UAE Comprehensive Economic Partnership Agreement followed in May 2022. The India–Australia Economic and Trade Agreement was implemented in December 2022.
India then signed the EFTA TEPA on March 10, 2024, which entered into force on October 1, 2025. The India–UK CETA was signed in July 2025, and the India–Oman CEPA in December 2025. The India–New Zealand FTA was announced on December 22, 2025, followed by the India–EU FTA on January 27, 2026.
(IANS)
