Unlocking India’s Future: Piyush Goyal Celebrates UK-India FTA as a Major Milestone for Viksit Bharat

Union Commerce and Industry Minister Piyush Goyal recently celebrated the signing of a new free trade agreement (FTA) between India and the United Kingdom. He called it a “game-changer” because it allows 99% of India’s exports to enter the UK without tariffs. This deal, signed by Prime Minister Narendra Modi and UK Prime Minister Keir Starmer, represents a significant leap for trade between the two nations.

Goyal emphasized that the agreement was reached on India’s terms, aiming to spur economic growth for farmers, businesses, and young entrepreneurs. The goal is to boost bilateral trade to $120 billion by 2030, effectively doubling current trade volumes.

In the past, India’s Free Trade Agreements have faced criticism. Goyal noted that earlier agreements, particularly those signed under the UPA government, favored foreign competitors and undermined local industries. In contrast, the Modi government is focused on signing FTAs that complement India’s growth rather than compete with it.

The current economic climate reinforces the importance of such agreements. According to a 2022 report by the World Bank, global trade has been recovering post-pandemic, but new trade barriers are emerging. In this context, FTAs like the one with the UK can help safeguard India’s interests while fostering economic partnerships.

User sentiment on social media has generally been positive, with many celebrating the potential benefits of the agreement. People are eager for the improvements it could bring to employment and growth in various sectors.

These developments reflect a broader trend in international trade where countries seek mutually beneficial deals. As India continues to strengthen its global economic ties, agreements like the India-UK FTA could play a critical role in its journey towards becoming a “Viksit Bharat,” or developed India.



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