Union Minister of Commerce and Industry Piyush Goyal welcomes the United Kingdom’s Secretary of State for Business and Trade, Peter Kyle
| Photo Credit:
UK Business and Trade Secretary Peter Kyle and Commerce Minister Piyush Goyal met on Tuesday to discuss early implementation of the India-UK free trade deal signed last year amid New Delhi’s concerns about Britain’s new steel measures and the Carbon Border Adjustment Mechanism (CBAM).“Had great conversations on charting the next phase of India-UK economic engagement, advancing shared business priorities, and further strengthening our robust and forward-looking partnership,” Goyal posted on the social media platform `X’, following his meeting with Kyle.The Trade Secretary’s visit amid global shocks, including the blockade of the Strait of Hormuz, signals the UK’s determination to unlock the next phase of its modern economic partnership with India so it can deliver growth for people in both countries, according to a statement issued by the British High Commission on the visit.“Bilateral trade is already worth £48 billion a year, and the FTA will liberalise 99 per cent of UK tariffs and 90 per cent of Indian tariffs, supporting cheaper, quicker, and easier exports and trade between our markets,” it noted.India, however, wants its concerns on certain safeguard measures on silver import quotas by the UK to be addressed first.The UK has proposed steel safeguard measures under which tariff-free import quotas will be slashed from July 1, 2026, and duties on shipments exceeding the quota will be nearly doubled to 50 per cent. “If India’s concerns on steel are not addressed, it is looking at the option of taking rebalancing measures such as reducing concessions on items such as Scotch,” a source said.New Delhi is also concerned about carbon levies on exports of identified items, such as steel & aluminium and fertilisers, that could be imposed on India’s exports to the UK soon under CBAM.The UK-India FTA is the biggest and most economically significant bilateral trade deal the UK has agreed since leaving the European Union, the British High Commission statement noted. It covers 30 chapters – including standalone chapters on gender, innovation, environment, and labour – making it one of the most comprehensive trade deals that India has ever signed.Published on June 2, 2026
