Piyush Goyal to visit UK ahead of July 15 deadline to implement trade pact

UNion mercantilism government minister Piyush Goyal to see the United land betwixt June 25 and 27 ahead of the July 15 deadline for the operationalisation of the India-UK Comprehensive Economic and Trade Agreement (CETA), according to a government statement.During the visit, Goyal will hold a high-level bilateral meeting with his British counterpart, Peter Kyle. “The engagement marks an important step towards the operationalisation of the agreements and the strengthening of the economic partnership between the two countries,” it said.The bilateral meeting will focus on aligning regulatory roadmaps, streamlining cross-border customs coordination, and finalising administrative mechanisms to facilitate the smooth implementation of CETA and the Double Contribution Convention (DCC). In a rebalancing exercise, London extended the exemption from social security contributions for Indian professionals in the UK from three years to five years. DCC is a reciprocal arrangement.During the meetings, the two ministers will review preparedness for the implementation of CETA’s tariff liberalisation commitments, which will provide enhanced market access opportunities for Indian exports in the UK.Discussions will also cover the operational roadmap for the DCC, which is expected to establish a streamlined mechanism to address dual social security contribution requirements for eligible temporary workers, thereby supporting greater mobility for professionals and businesses, the statement said.The two sides will further discuss the operationalisation of mutual market access commitments across key services sectors and review measures aimed at strengthening bilateral trade and investment ties, it said.As part of the visit, Goyal will participate in a series of Government-to-Business (G2B) engagements with industry leaders, investors, and corporate representatives to further strengthen commercial partnerships between India and the UK.The minister will address the opening plenary session of the India Global Forum (IGF), where he will speak on the theme, “Capital, Innovation and the UK-India Moment.” The session will focus on emerging opportunities for global businesses in the context of the forthcoming implementation of the India-UK CETA.Goyal will also hold standalone interactions with senior executives of leading global companies, including HSBC (Global Trade Solutions) and Rolls-Royce, to discuss strategic investments, industrial collaboration, and the expansion of manufacturing partnerships in India, the statement said.The minister will participate in a business plenary session and interactive luncheon hosted by the UK-India Business Council (UKIBC). The engagement will bring together C-suite executives and representatives from leading multinational companies, including Tata Group, Tata Consultancy Services, HSBC, Prudential plc, De Beers and Baker McKenzie, to discuss opportunities for trade, investment and business collaboration under the India-UK economic partnership.To deepen engagement with institutional investors and global industry leaders, Goyal will lead an exclusive roundtable discussion hosted by Asia House. Senior executives from leading international financial and industrial institutions, including J.P. Morgan, Standard Chartered, Lloyds Banking Group, Morgan Stanley and Arup, will participate in discussions on India’s industrial competitiveness, investment landscape and integration with global supply chains, it said.“The visit underscores India’s commitment to engaging with global businesses and investors and is expected to contribute to the shared objective of expanding India-UK economic cooperation and advancing the target of achieving USD 120 billion in bilateral trade by 2030,” it added..