Does the India-UK FTA Showcase the Nation's Strength?
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Synopsis
Union Commerce Minister Piyush Goyal lauds the India-UK Free Trade Agreement as a reflection of India's growing global influence. As negotiations with developed nations progress, this historic pact promises to open new doors for various sectors, reaffirming India's commitment to becoming a major global player by 2027. Discover the implications of this vital agreement!
Key Takeaways
- The India-UK FTA showcases India's growing economic stature.
- It will unlock new opportunities across various sectors.
- India is set to become the third-largest global economy by 2027.
- The agreement emphasizes collaboration rather than competition.
- It aims to significantly boost Indian exports in the coming years.
Mumbai, July 27 (NationPress) - Union Commerce and Industry Minister Piyush Goyal expressed on Sunday that the India-UK Free Trade Agreement (FTA) symbolizes the country's increasing strength. Speaking with reporters during a felicitation event, the minister described this FTA as the most extensive trade agreement India has forged thus far.
“This agreement stems from the trust that Prime Minister Narendra Modi has cultivated on the global stage. It allows India to negotiate and conclude trade agreements with developed nations not as rivals, but as collaborative partners,” Goyal stated.
He emphasized that the FTA would unveil new prospects for India and serves as evidence of the nation's ascending profile internationally.
The minister remarked that over the last 11 years, under PM Modi's guidance, India has evolved from a vulnerable economy into one of the globe's top five economies.
“By 2027, India is set to become the third-largest economy in the world,” he added.
Goyal also underscored that India's rising confidence has equipped it to enter into successful free trade agreements with advanced nations.
Current negotiations are in progress with nations such as New Zealand, Oman, and the United States, in addition to the 27-member European Union.
He further noted that the Modi government has opened new pathways for farmers, fishermen, and industries, resulting in a significant increase in exports.
The administration aims to double exports in the next five years. “Countless youths are securing jobs in the services sector, and the world now recognizes PM Modi as one of the most esteemed and popular leaders globally,” Goyal remarked.
Meanwhile, in a post on the social media platform X, the minister stated, "Today, India is not just visible; it is dominating global markets."
He elaborated on the advantages the India-UK FTA is bringing to various sectors, including agriculture, MSMEs, gems and jewelry, the fishing community, textiles, electronics and IT, and services.
Goyal stated, “Under Prime Minister Modi’s decisive leadership, India has forged a robust and influential identity on the global front. The India-UK FTA is a live testament to that advancement. It is a historic agreement that is unlocking new opportunities for every segment of Indian society.”
He added that this initiative is profoundly significant as it will aid in realizing the vision of a developed India by 2047.
Point of View
It is imperative to recognize the strategic importance of the India-UK FTA. This agreement not only symbolizes India's economic strength but also showcases its diplomatic maturity. By forging partnerships with developed nations, India is carving a path toward sustainable growth and international collaboration, which is crucial for the nation’s future.
NationPress
27/07/2025
Frequently Asked Questions
What is the India-UK FTA?
The India-UK Free Trade Agreement (FTA) is a comprehensive deal aimed at enhancing trade relations between India and the UK, fostering economic growth and cooperation across various sectors.
What sectors will benefit from the India-UK FTA?
Sectors such as agriculture, MSMEs, gems and jewelry, textiles, electronics, IT, and services are expected to benefit significantly from the India-UK FTA.
When is India expected to become the third-largest economy?
India is projected to become the third-largest economy globally by 2027, as per statements from Union Commerce Minister Piyush Goyal.
How does the FTA affect Indian exports?
The FTA aims to double India's exports in the next five years, providing new avenues for growth in various industries.
What is the significance of the India-UK FTA?
The FTA is significant as it reflects India's growing strength and confidence on the global stage, facilitating partnerships with developed nations and promoting economic growth.
