Union Minister Piyush Goyal signed a Free Trade Agreement with the UK on Thursday, with top officials — including Prime Minister Narendra Modi — in attendance. The senior lawmaker also received a unique gift from British negotiators after admitting that he was a massive fan of ‘Yes Minister’.
According to a report by the Guardian, British negotiators had brought him a handwritten note from Jonathan Lynn (one of the show’s co-creators) after Goyal admitted that he was a huge fan.
‘Moments of comedy’
Negotiations for the Comprehensive Economic and Trade Agreement were concluded on May 6 after nearly three years of back-and-forth. A recent Guardian article noted that the intense talks were also punctuated by moments of ‘comedy’ — including one occasion where both Indian and British officials had paused to do yoga in the corridor in a bid to let off steam. On another occasion, the British negotiators led by Kate Thornley were at the airport in Delhi, about to fly home, when they received a call from the Indian side saying they were prepared to make key concessions on food and drink. A negotiator who was yet to finish the airport security check had subsequently missed his flight to rush back to the negotiating room.
Piyush Goyal signs India-UK FTA
India and the UK signed a free trade agreement on Thursday with an aim to double the bilateral trade to USD 112 billion by 2030. The deal will boost exports from sectors such as textiles and leather, while making British cars and whiskey cheaper in India. Commerce and Industry Minister Piyush Goyal and Secretary of State for Business and Trade Jonathan Reynolds signed the pact in the presence of Prime Ministers Modi and Starmer.
According to the Commerce Ministry, the agreement secures duty-free access for 99% of Indian exports to the UK and covers nearly the entire trade basket. This is expected to open new opportunities for labour-intensive industries such as textiles, marine products, leather, footwear, sports goods, toys, and gems and jewellery, alongside fast-growing sectors like engineering goods, auto components, and organic chemicals. The services sector — a strong driver of the Indian economy — will also see wide-ranging benefits.