Piyush Goyal, HSBC discuss how India-UK CETA will boost businesses

Union Minister Piyush Goyal met HSBC's Head of Global Trade Solutions in the UK to discuss how the India-UK CETA will help businesses expand. He highlighted the role of financial institutions and announced measures to help businesses maximise benefits.

Union Minister for Commerce and Industry Piyush Goyal on Friday met Vivek Ramachandran, Head of Global Trade Solutions at HSBC, and discussed how the Comprehensive Economic and Trade Agreement (CETA) between India and the UK will enable businesses to expand. Goyal, who is on a visit to the United Kingdom, highlighted the role financial institutions will play in helping businesses navigate new markets as CETA gets implemented.

"Good meeting with Mr. Vivek Ramachandran, Head of Global Trade Solutions at HSBC. Discussed how the India-UK Comprehensive Economic and Trade Agreement (CETA) will create an enabling environment for businesses to expand. Highlighted the vital role financial institutions will play in helping businesses navigate new markets through stronger trade finance and cross-border banking solutions," Goyal said in a post on X.

Goyal's Engagements at UK-India Week

During his visit to the UK, Goyal announced the deployment of 1,000 advisory personnel across the country and the upgradation of the trade portal to help businesses maximise the benefits of CETA. Goyal participated in a series of high-level engagements during the 10th Annual UK-India Week in London today, highlighting the opportunities arising from the forthcoming implementation of CETA on July 15, 2026. As India's most comprehensive free trade agreement to date, the India-UK CETA is projected to increase bilateral trade by GBP 25.5 billion annually.

Partnership Beyond Traditional Trade

Addressing the India Global Forum (IGF) Capital Frontiers Forum, Goyal said that the India-UK partnership has expanded beyond traditional trade to encompass strategic sectors such as technology, sovereign AI, critical minerals, defence and clean energy. He observed that the evolving partnership reflects the growing depth and diversity of bilateral economic engagement.

At a reception hosted by the High Commission of India and FICCI, the Minister welcomed the largest and most geographically diverse Indian business delegation to visit the United Kingdom. The delegation included significant participation from enterprises based in Tier-2 and Tier-3 cities, along with several first-time exporters.

CETA Benefits for Indian Professionals

Highlighting the benefits of the India-UK CETA for Indian professionals, Goyal said the Agreement provides a five-year exemption from social security contributions for eligible Indian professionals working in the United Kingdom, enabling them to redirect these savings into interest-bearing, tax-free provident fund accounts in India.

Focus on Sub-national Economic Partnerships

The Minister also emphasised the importance of strengthening sub-national economic partnerships and highlighted region-to-region linkages, including Birmingham-Gujarat and Manchester-Maharashtra, as important drivers of future bilateral growth. (ANI)

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