Latest news with #IGF
Hindustan Times
7 hours ago
- Business
- Hindustan Times
India-UK FTA clears path for Indian talent in UK: Piyush Goyal
NEW DELHI: The recently concluded free trade agreement (FTA) between India and the United Kingdom would facilitate smooth mobility of skilled professionals across sectors, Union commerce minister Piyush Goyal said at the India Global Forum (IGF) 2025 in London. The minister reaffirmed India's commitment to transitioning the FTA from a negotiated text into a transformative economic partnership while delivering the keynote address at the India Global Forum's (IGF) plenary session — From Agreement to Action: The UK-India FTA, a commerce ministry statement said on Thursday. There he was joined in conversation by UK secretary of state for business and trade Jonathan Reynolds with moderation by journalist Mark Barton, the statement added. India and the UK successfully concluded FTA negotiations on May 6 where business mobility was one of the key demands of New Delhi. The deal is currently undergoing legal scrubbing before being formally passed by the respective authorities of the two countries. Summarising key benefits of the deal on the following day, global consultancy firm EY said that it would ease mobility for professionals, including contractual service suppliers, business visitors, investors, intra-corporate transferees, and independent professionals like yoga instructors, musicians, and chefs, offering greater global mobility for aspirational young Indians. Goyal described the FTA as a reflection of shared ambition between two vibrant democracies. He stated that the agreement not only enhances bilateral trade, but also demonstrates India's ability to negotiate balanced and future-oriented trade frameworks aligned with its national interests, the statement said. The minister is on a high-level visit to the UK from June 18 to 19. Outlining the next phase of implementation, he highlighted key priorities such as strengthening institutional mechanisms for joint governance, unlocking early benefits for small and medium enterprises (SMEs) and startups, and facilitating smooth mobility of skilled professionals across sectors, it added. The minister also participated in a special session on 'UK–India Science, Technology and Innovation Collaboration' at the Science Museum in London on Thursday. The session explored opportunities for UK stakeholders to contribute to India's expanding investments in digital public infrastructure, sustainable manufacturing, and green technologies. Discussions also covered efforts to make India a global manufacturing hub through Make in India, production-linked incentive schemes, and enhancing collaboration in sectors such as fintech, artificial intelligence, and creative industries, it said. 'Trade deals with competitors silly' Goyal said that 15 years ago, before his party's government came to power, India was 'more focused on doing trade agreements with countries that are our competitors'. 'It really is silly, because (that is) opening up my market to my competitors, many of whom have now become the B team of China. So effectively and indirectly, I have opened up my market for goods that find their way from China into India'.
Business Standard
9 hours ago
- Business
- Business Standard
Piyush Goyal highlights India's strategic global outlook and economic leadership at India Global Forum 2025
The Union Minister of Commerce & Industry, Piyush Goyal showcased India's strategic global outlook and economic leadership at the India Global Forum (IGF) 2025 in London yesterday. Delivering the keynote address at the IGF Mainstage Plenary Session titled "From Agreement to Action: The UK-India FTA," the Union Minister reaffirmed India's commitment to transitioning the FTA from a negotiated text into a transformative economic partnership. He was joined in conversation by the UK Secretary of State for Business and Trade, Jonathan Reynolds, with moderation by international journalist Mark Barton. Goyal described the FTA as a reflection of shared ambition between two vibrant democracies. He stated that the agreement not only enhances bilateral trade, but also demonstrates India's ability to negotiate balanced and future-oriented trade frameworks aligned with its national interests. Outlining the next phase of implementation, Goyal highlighted key priorities such as strengthening institutional mechanisms for joint governance, unlocking early benefits for SMEs and startups, and facilitating smooth mobility of skilled professionals across sectors. On June 19th, the Union Minister participated in a special session on "UK-India Science, Technology and Innovation Collaboration" at the Science Museum in London. The session explored opportunities for UK stakeholders to contribute to India's expanding investments in digital public infrastructure, sustainable manufacturing, and green technologies. Discussions also covered efforts to make India a global manufacturing hub through Make in India, PLI schemes, and enhancing collaboration in sectors such as fintech, artificial intelligence, and creative industries. The Free Trade Agreement's role in deepening cooperation in critical technologies, defence production, and advanced manufacturing was also highlighted.
Yahoo
11 hours ago
- Business
- Yahoo
"We Now Need to Create Opportunities Across Sectors" - UK Minister Patrick Vallance Urges Deeper UK-India Science Partnerships
Science Museum hosts IGF Future Frontiers Forum spotlighting science, tech & innovation collaboration between India and UK NEW DELHI and LONDON, June 20, 2025 /PRNewswire/ -- At the Future Frontiers Forum hosted by IGF London, Patrick J. Vallance, UK Minister of State for Science, Research and Innovation, called for intensified UK–India collaboration in science and technology, urging both nations to align their innovation priorities and unlock sector-wide opportunities. "The industrial strategy coming out in just a couple of weeks which will list the eight sectors we are working on. That's got to be a good foundation for where there can be partnerships," Vallance stated. "India has its focus areas, we have ours, now we need to create opportunities across those sectors." Speaking at the Science Museum, Vallance emphasised the importance of people-to-people scientific ties: "I believe government-to-government relationships in science do not drive everything; we must also create scientist-to-scientist relationships. Academic links and the exchange of people often drive collaborations. Start-ups in particular are becoming central to the innovation ecosystem, and we need more of them in the UK–India mix." The forum, part of IGF London 2025, brought together government leaders, global CEOs, investors, and academics to explore frontier technologies across AI, climate tech, sustainable energy, health innovation, and quantum computing. Opening the event, Sir Ian Blatchford, Director of the Science Museum, celebrated the UK–India Science and Innovation Partnership Roadmap and its focus on critical and emerging technologies. "The Technology Security Initiative is a landmark step," he said. "Imperial College's science hub in Bengaluru will drive collaboration in AI, healthtech, cleantech, and advanced materials, backed by $170 million in joint UK–India funding." India's Commerce & Industry Minister Piyush Goyal highlighted the FTA's role in strengthening innovation ecosystems: "It's not just about trade or investment. The FTA demonstrates that India and the UK are friends and allies. Innovation in India happens at a fraction of global costs. What takes 10x the cost in the US or Europe can be done efficiently in India, with mutual benefit." Sir Oliver Dowden, former UK Deputy Prime Minister, reinforced the values-based alignment between the two democracies: "We must deepen ties with like-minded nations. UK and India share heritage, rule of law, and a commitment to science. Whether it's 6G or quantum, setting international standards together creates a win-win." Health innovation was another key focus, with leaders like Lord Ara Darzi, Alisha Moopen (Aster DM Healthcare), and Monica Huang (Zydus Lifesciences) exploring how India's affordable, tech-driven models could support the UK's struggling NHS. "The NHS isn't in critical condition, but it needs urgent reform," said Lord Darzi. "India's transformative health solutions and COVID-era support show the intellectual and production power we must now collaborate with." A major highlight was the return of Pitchers and Punters, a curated showcase of Indian start-ups pitching to a jury of international investors. Among the standout companies were Zypp Electric, Lina Energy, Steamology Motion Ltd and Electric Miles—with Zypp Electric winning the Clean Tech Award, presented by Octopus Energy. The punters included Neha Manaktala (JP Morgan Climate Tech), Richard Heald (EET), James Edison (Octopus Energy) and Bhavit Sheth (Dream11 & Dream Sports) who praised the depth of Indian innovation in sustainability and AI. Other sessions featured voices like Daniel D'Souza (DreamSetGo), Reena Dayal (Quantum Ecosystems Council of India), and experts from EET, exploring opportunities across deep tech, telecom, and digital health. As global tech landscapes grow more complex and fragmented, IGF London's Future Frontiers Forum showcased a clear vision: the UK and India must build trusted, innovation-led alliances that translate ambition into scalable action. The forum forms part of IGF London 2025. With over 100+ speakers, 1000 participants, and events across iconic venues in London, IGF London 2025 encompasses a spectrum of topics - from technology and trade to culture and commerce. This year's edition marks a powerful milestone - a decade since Prime Minister Narendra Modi's landmark 2015 visit to the UK, and the two nations have finalised the long-awaited Free Trade Agreement. IGF London is the first major international platform to celebrate and analyse this historic achievement, unlock new opportunities that emerge from its conclusion, and shape the next phase of UK-India collaboration. About India Global ForumIndia Global Forum tells the story of contemporary India. The pace of change and growth India has set itself is an opportunity for the world. IGF is the gateway for businesses and nations to help seize that opportunity. To know more, click here. Social Media Handles & Hashtag to Follow Twitter: @IGFUpdates & @manojladwaLinkedIn: India Global Forum#IGFLondon Photo: - View original content to download multimedia:
Time of India
14 hours ago
- Business
- Time of India
'Trade deals to complement, not compete'
AI generated image LONDON: India is in trade talks with countries with whom it doesn't compete but can complement the economies involved, commerce and industry minister Piyush Goyal said. Addressing an India Global Forum (IGF) session on UK-India Science, Technology and Innovation Collaboration at the Science Museum, the minister elaborated on the opportunities that trade deals open up - bilaterally and to the wider global economy. "Our focus is on entering into robust trade agreements with developed world," said Goyal, pointing to the UK-India FTA and deals concluded with Australia, UAE and European Free Trade Association. agencies Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
India Gazette
a day ago
- Business
- India Gazette
Piyush Goyal showcases India's strategic economic vision at India Global Forum 2025 in London
New Delhi [India], June 19 (ANI): Union Minister of Commerce & Industry, Piyush Goyal, showcased India's strategic global outlook and economic leadership at the India Global Forum (IGF) 2025 in London today, the Ministry of Commerce and Industry added in a statement. The release stated that the Minister's visit marks a significant moment following the historic signing of the India-UK Free Trade Agreement (FTA) in May 2025. Delivering the keynote address at the IGF Mainstage Plenary Session titled 'From Agreement to Action: The UK-India FTA,' the Union Minister reaffirmed India's commitment to transitioning the FTA from a negotiated text into a transformative economic partnership. He was joined in conversation by the UK Secretary of State for Business and Trade, Jonathan Reynolds. Union Minister Goyal described the FTA as a reflection of shared ambition between two vibrant democracies. He stated that the agreement not only enhances bilateral trade but also demonstrates India's ability to negotiate balanced and future-oriented trade frameworks aligned with its national interests. Outlining the next phase of implementation, Goyal highlighted key priorities such as strengthening institutional mechanisms for joint governance, unlocking early benefits for SMEs and startups, and facilitating smooth mobility of skilled professionals across sectors. On June 19th, the Union Minister participated in a special session on 'UK-India Science, Technology and Innovation Collaboration' at the Science Museum in London. The session explored opportunities for UK stakeholders to contribute to India's expanding investments in digital public infrastructure, sustainable manufacturing, and green technologies. Discussions also covered efforts to make India a global manufacturing hub through Make in India, PLI schemes, and enhancing collaboration in sectors such as fintech, artificial intelligence, and creative industries. The Free Trade Agreement's role in deepening cooperation in critical technologies, defence production, and advanced manufacturing was also highlighted. The session further examined how innovations like UPI and CoWIN can be scaled globally through bilateral collaboration. The Minister's participation underscores India's continued commitment to strengthening its comprehensive strategic partnership with the United Kingdom. By leveraging the India-UK FTA, both nations aim to unlock new avenues in goods, services, technology, and innovation for shared prosperity. (ANI)
