Business EconomyPosted at: Jul 12 2026 4:54PM


India-UK FTA gives Indian professionals 25pc salary relief: Piyush Goyal

New Delhi, Jul 12 (UNI) Indian professionals working in the United Kingdom on temporary assignments of up to five years will no longer lose nearly 25 per cent of their salary towards the UK's social security system, as the Double Contribution Convention Agreement comes into force on July 15 alongside the India-UK Free Trade Agreement (FTA), said Commerce and Industry Minister Piyush Goyal.
While speaking with the reporters, Goyal said the new arrangement will allow Indian employees deputed to the UK for two, three or up to five years, including those on inter-corporate transfers, to avoid making social security contributions in the UK that previously did not provide them any long-term benefit.
The amount equivalent to those contributions will remain in their Provident Fund (PF) accounts in India, where it will continue to earn 8.25 per cent annual tax-free interest and serve as retirement savings, he said.
"Earlier, around 25 per cent of their salary was effectively lost as it went to the local government without benefiting them. Now, that money will remain in their Provident Fund accounts in India, earning tax-free interest and strengthening their social security," Goyal said.
The minister said both the Double Contribution Convention Agreement and the India-UK FTA will take effect from July 15.
Highlighting the trade benefits, Goyal said eligible Indian goods exported to the UK will enter the British market at zero import duty from July 15, creating fresh opportunities for exporters and boosting bilateral trade.
Describing the agreement as a comprehensive pact, Goyal said it not only strengthens merchandise trade but also provides a major benefit to thousands of Indian professionals working in the UK.
He credited Prime Minister Narendra Modi's leadership for securing an agreement that advances both India's trade interests and the welfare of its workforce abroad. UNI VK SAS
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