Piyush Goyal on top priorities for India-UK FTA: Ethical AI rules, early gains for startups

Union Commerce and Industry Minister Piyush Goyal, currently on a two-day visit to the United Kingdom, outlined a roadmap for accelerating the implementation of the recently signed India-UK free trade agreement (FTA).Speaking at the Future Frontiers Forum in London on Thursday (June 19), Piyush Goyal warned of the “dangers posed by deepfakes and misinformation” and advocated for a robust international regulatory framework for the ethical deployment of artificial intelligence (AI).

Goyal identified

four key priorities for driving the India-UK FTA from “agreement to action”:

• Establishing a strong institutional framework for joint governance.
• Ensuring early gains for MSMEs and startups through targeted provisions.
• Facilitating smooth mobility of skilled professionals in high-growth sectors like AI, fintech, and creative industries.
• Deepening cooperation in critical technologies, defence production, and advanced manufacturing.

He also emphasised that the FTA opens doors for global scaling of Indian innovations such as UPI and CoWIN, allowing their frameworks to be adapted and exported to other countries through India-UK collaboration.Addressing the India Global Forum’s UK-India Week on Wednesday (June 18), Goyal stressed that the FTA will bring “stability and predictability” to businesses on both sides and has the potential to double bilateral trade within five years.

The India-UK FTA, finalised on May 6, removes duties on 99% of tariff lines, covering nearly the full scope of bilateral trade in goods and services. Goyal noted that this deal exemplifies India’s strategy to pursue high-value agreements with non-competing developed economies, facilitating faster market access and knowledge exchange.

His London visit is expected to further operationalise the FTA’s institutional architecture and boost cross-sectoral investment flows.

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