Piyush Goyal Lauds India-UK Trade Deal, Says Win-Win Situation For ‘Make in India’ And ‘Vocal for Local’

Union Minister Piyush Goyal congratulated Prime Minister Narendra Modi and UK Prime Minister Keir Starmer on Thursday on the signing of the India-UK Comprehensive Economic and Trade Agreement (CETA).

In a post on ‘X’, he said, “Duty-free access for about 99% of Indian exports unlocks nearly $23 billion in opportunities for labour-intensive sectors, marking a new era for inclusive and gender-equitable growth.”

The trade deal, which was agreed upon in May this year, was signed on July 24, 2025, during Prime Minister Narendra Modi’s visit to the United Kingdom.

Highlighting the advantage of the deal, Union Minister said, “Duty-free access for about 99% of Indian exports unlocks nearly $23 billion in opportunities for labour-intensive sectors, marking a new era for inclusive and gender-equitable growth.”

He further said that the deal will benefit artisans, weavers, and daily-wage labourers employed in several MSMEs across textiles, leather, footwear, gems & jewellery, toys, and marine products, and will step into a new phase of prosperity.

He added. “This agreement is a big win for farmers, ensuring duty-free exports on nearly 95% of agricultural products, while fisherfolk gain from Zero Duty on 99% of marine exports, boosting their incomes.”

The trade between India and the UK was $20.36 billion in 2022-23, which expanded to $21.34 billion in 2023-24.

Lauding the deal, Piyush Goyal said that it is a win-win for ‘Make in India’ and ‘Vocal for Local’, driving job creation, empowering communities, and reinforcing India’s strategic trade leadership. It ushers in a new era of economic cooperation, reinvigorating our bilateral trade ties.

ALSO READ: PM Modi Thanks Indian Diaspora For Warm Welcome In UK, Calls Their Support ‘Truly Heartening’