Union Commerce and Industry Minister Piyush Goyal on Thursday said that the India-UK Comprehensive Economic and Trade Agreement will act as a force multiplier for the global economy by strengthening cooperation between the two countries across trade, investment, technology and strategic sectors.
Speaking at the India Global Forum's UK-India Week 2026 in London, Goyal said the partnership between India and the United Kingdom has expanded significantly over the years and has evolved into a highly strategic relationship encompassing multiple sectors.
"The India-UK Comprehensive Economic and Trade Agreement will act as a force multiplier to support the global economy," Goyal added. He noted that the bilateral relationship now extends beyond traditional trade ties to include cooperation in technology, investments, defence and critical minerals.
According to the minister, the growing engagement between the two countries reflects the increasing depth and breadth of the India-UK partnership. Goyal said India and the United Kingdom also share common objectives in combating terrorism and promoting global peace and stability.
He added that both countries are working together in several multilateral forums to encourage fair and equitable business practices that create a level playing field for all nations. Highlighting the significance of the India-UK Comprehensive Economic and Trade Agreement, the minister said the pact would help Indian industries evolve, move up the value chain and enhance their global competitiveness.
He said the agreement would enable Indian businesses to compete with British companies in sectors where both countries operate while also creating opportunities for collaboration in areas where their strengths complement each other. Goyal emphasised that the trade agreement would encourage both countries to become integral parts of global value chains, allowing businesses in India and the United Kingdom to support each other's economies and generate mutual growth.
He added that the partnership between the two nations has the potential to become a force multiplier for the global economy by combining their respective strengths in innovation, manufacturing, services and investments.