New Delhi, July 27 -- The free trade agreement inked between India and the United Kingdom will offer benefits for a multitude of sectors, particularly the services sector, said union commerce and industry minister Piyush Goyal on Saturday, adding that the agreement was inked on "India's terms". The agreement signed on Thursday was described by the minister as a "game changer". "Prime Minister Narendra Modi and UK Prime Minister Keir Starmer signed a Free Trade Agreement. Cabinet approval has been given in India, but Parliamentary approval in the UK is pending," Goyal said. FTA, which has been signed after prolonged negotiations spanning two decades, is the "biggest, most comprehensive" agreement, Goyal said, adding that the agreement was inked on "our own terms" and protecting sensitive sectors. "There are various new chapters, we have signed the deal on our own terms and for India's economy it will mean a lot," the minister told media persons. While he credited Prime Minister Narendra Modi's credibility for giving a fillip to the signing of the agreement, the minister said his instruction was to ensure that key sectors such as agriculture and dairy are protected. "What is sensitive for us, what is called defensive interest, we have not opened any product. This FTA like the ones with Australia does not include the diary sector, as was instructed by the PM," he said. He went on to add that unlike the FTAs that were signed during the Congress-led UPA regime with ASEAN countries, the present government ensures that FTAs are signed to protect Indian interests. The agreements are now signed "with clarity, we do not compete with each other but complement," he said. "On the one hand there is a FTA with the sixth largest economy, we negotiated with confidence and on our terms. 99% of our exports will get preferential market access and without imposing duty, and what we need will come to the Indian markets and yet we kept the safeguard for sensitive sectors such as dairy and agriculture. It is a win-win trade agreement," Goyal said. The Indian economy is moving ahead with speed, and its resilience, the minister said, were also instrumental in the sealing of the deal that has been signed after 22-23 years of struggle. "Our spices will have duty free access in the UK. 50 lakh plus south Asians live there and of this 18 lakh are Indians. There is a market for the spices. Also, 99% fisheries products will have duty free access there. Leather goods, furniture and labour intensive sectors, pharmaceuticals will have zero duty access-and when GI products will be exported, India will have credit," Goyal said. He said one big achievement has been the double contribution convention agreement - that will offer benefits in the services sector. "It (sector) has grown by 12% last year. Earlier Indians working there had to pay 25% to the social security fund in the UK. And till they worked for 10 years they could not access the fund, it was wasted for those who stayed for shorter durations. Now those who go to the UK for three years will be allowed to contribute to the EPFO," Goyal said. To a question on the impending agreements with the EU and the USA he said, "We are working at the right speed, with the right intent and in the right direction." The minister also said the FTAs with ASEAN nations are being re-looked at. "We have opened our markets more. Our products do not have the same access," he said. Negotiations are also underway with the US, Peru, Chile, Oman and EU....