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Goyal, HSBC discuss trade finance ahead of CETA
Meeting focused on banking support before India-UK trade pact takes effect.
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Ankita Baidya - Sat, 27, Jun 2026
- 06:38 EDT
- 22
Piyush Goyal met HSBC executives in London ahead of the India-UK CETA rollout. / X/@PiyushGoyal
Union Commerce and Industry Minister Piyush Goyal met Vivek Ramachandran, Head of Global Trade Solutions at HSBC, in London on June 26 to discuss trade finance and cross-border banking ahead of the implementation of the India-UK Comprehensive Economic and Trade Agreement (CETA) on July 15.
Also Read: UK-India trade deal to come into effect from July 15
According to posts by Goyal and the High Commission of India in London on X, the discussions focused on how the trade agreement would create an enabling environment for businesses to expand, while highlighting the role of financial institutions in supporting companies through trade finance, cross-border banking, and market access as bilateral commerce grows under the new pact.
The India-UK CETA, signed in 2025, is expected to increase bilateral trade by £25.5 billion annually. The agreement also includes the Double Contribution Convention, which will exempt eligible Indian professionals working in the United Kingdom from paying social security contributions there for up to five years, allowing them to continue contributing to provident fund accounts in India.
The HSBC meeting formed part of Goyal's three-day visit to London for UK-India Week 2026. During the visit, he also met a delegation led by Nicola Grady-Smith, Chief Transformation Officer at Rolls-Royce, to discuss opportunities in advanced manufacturing, engineering, technology collaboration, and supply chain resilience under the trade agreement.
Good meeting with Mr. Vivek Ramachandran, Head of Global Trade Solutions at HSBC.
— Piyush Goyal (@PiyushGoyal) June 26, 2026
Discussed how the India-UK Comprehensive Economic and Trade Agreement (CETA) will create an enabling environment for businesses to expand.
Highlighted the vital role financial institutions will… pic.twitter.com/5m3R229gfQ
His engagements also included a business luncheon hosted by the UK-India Business Council with senior executives from Tata, TCS, HSBC, Prudential, De Beers, and Baker McKenzie, as well as a financial services roundtable at Asia House attended by leaders from JP Morgan, Standard Chartered, Lloyds, Morgan Stanley, and Arup.
Speaking during the visit, Goyal announced the deployment of 1,000 advisory personnel across the UK and upgrades to India's trade portal to help exporters and businesses maximize opportunities under the CETA. At a reception hosted by the High Commission of India and FICCI, he also welcomed one of the largest and most geographically diverse Indian business delegations to visit the UK, including enterprises from Tier-2 and Tier-3 cities and several first-time exporters.
The meeting with HSBC reflects the growing role major financial institutions are expected to play in facilitating trade, investment, and cross-border business as the India-UK CETA enters into force next month.
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