India-UK reaffirm shared ambition to double bilateral trade by 2030

The Union Minister of Commerce and Industry, Piyush Goyal, and the Rt. Hon. Peter Kyle, UK Secretary of State for Business and Trade, held a bilateral meeting in Mumbai yesterday to chart a renewed course for the India–UK trade and investment partnership. The meeting marked a significant step towards operationalising the India–UK Comprehensive Economic and Trade Agreement (CETA), with both Ministers agreeing to reposition the Joint Economic and Trade Committee (JETCO) to oversee its implementation and delivery.

Both sides underlined their commitment to ensuring swift, coordinated, and results-oriented implementation of the Agreement, aimed at realising its full potential for businesses and consumers in both countries. The Ministers reaffirmed their shared ambition to double bilateral trade by 2030, leveraging the complementarities between the two economies in areas such as advanced manufacturing, digital trade, clean energy, and services.

Emphasising the transformative scope of CETA, the Ministers discussed ways to maximise its benefits through regulatory cooperation, addressing non-tariff barriers, and promoting supply chain integration. The highly productive Commerce Secretary and Director General-level meeting set the tone for the Ministerial meeting, which laid a strong foundation for a full day of engaging and forward-looking discussions.

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