Goyal Congratulates UK's New Business Secretary, Reaffirms Commitment to Stronger India–UK Trade

India–United Kingdom economic relations received a fresh boost as Union Minister of Commerce and Industry Piyush Goyal congratulated Jonathan Reynolds on his appointment as the United Kingdom's Secretary of State for Business, Innovation, Science and Trade, expressing confidence that the partnership would continue to deepen following the implementation of the landmark India–UK Comprehensive Economic and Trade Agreement (CETA).

Piyush Goyal's congratulatory tweet to Jonathan Reynolds.

In a message shared on social media, Goyal described Reynolds' appointment as coming at a defining moment for bilateral ties. "Congratulations to Jonathan Reynolds on your appointment as the UK's Secretary of State for Business, Innovation, Science and Trade. Your leadership comes at a defining moment for India–UK economic relations, with the India–UK CETA now in force since 15th July. I look forward to partnering with you to further strengthen economic ties between our two countries," he said.

According to the UK government, Reynolds assumed office on 20 July 2026, taking charge as both countries begin implementing one of their most significant trade agreements to date.

A Landmark Trade Agreement

The India–UK Comprehensive Economic and Trade Agreement (CETA) entered into force on 15 July 2026, opening a new chapter in bilateral economic cooperation. Signed in July 2025 by Prime Minister Narendra Modi and UK Prime Minister Keir Starmer, the agreement substantially lowers trade barriers, granting duty-free access to 99% of Indian exports to the UK while reducing or eliminating tariffs on 90% of UK exports to India.

Beyond tariff liberalisation, the agreement includes provisions to facilitate investment, digital trade and professional mobility. UK government estimates suggest it could increase bilateral trade by approximately £25.5 billion annually, creating new opportunities for businesses and investors in both countries.

UK Parliament Conference Set the Stage

Just two days before the agreement came into force, the UK–India Leaders Conference 2026, organised by the Europe India Centre for Business & Industry (EICBI), brought together policymakers, diplomats, business leaders and industry experts at the UK Parliament.

EICBI's UK Parliament conference in progress.

Held under the theme "From Agreement to Action: Unlocking the Opportunities of the UK–India Free Trade Agreement," the conference focused on translating the agreement into practical outcomes. Discussions centred on sector-specific opportunities, investment, innovation, supply chain resilience and implementation strategies, making the event a timely platform for preparing businesses to leverage the new trade framework.

Building on the Momentum

Goyal also emphasised his commitment to working with Reynolds to strengthen investment flows, enhance mobility provisions and advance the shared vision of both governments for a modern and resilient trade corridor.

Among the agreement's notable provisions is the Double Contributions Convention, which allows eligible professionals on temporary assignments to pay social security contributions in only one country for up to five years. The measure is expected to benefit sectors such as information technology, engineering, financial services and consulting by reducing the cost of cross-border employment.

Looking Ahead

With the agreement now operational, India and the UK are expected to deepen collaboration across sectors including advanced manufacturing, healthcare technology, clean energy and digital innovation. Government agencies and industry bodies are also expected to conduct outreach programmes to help businesses maximise the opportunities created by the agreement.

The UK Trade Commissioner for South Asia has described the FTA as "a landmark trade deal" that will make trade "cheaper, quicker and easier" for businesses operating across both markets.

Goyal's message to Reynolds reflects the broader momentum in India–UK relations, with both governments focused on translating the trade agreement into stronger commercial partnerships, greater investment and sustained economic growth.