Commerce and Industry Minister Piyush Goyal of India and UK Secretary of State for Business and Trade Peter Kyle on Wednesday held a bilateral meeting in Mumbai, where they reaffirmed their commitment to strengthening trade and investment ties between India and the United Kingdom.
The discussion marked a significant step toward operationalising the India–UK Comprehensive Economic and Trade Agreement (CETA).
During the meeting, both ministers agreed to reposition the Joint Economic and Trade Committee (JETCO) to oversee the implementation and delivery of the CETA, ensuring prompt and coordinated efforts to maximise its benefits. They reiterated their shared goal of doubling bilateral trade by 2030, leveraging the complementary strengths of the two economies in sectors such as advanced manufacturing, digital trade, clean energy, and services.
The discussions emphasised the transformative potential of the CETA, focusing on enhancing regulatory cooperation, addressing non-tariff barriers, and integrating supply chains.
The bilateral meeting was preceded by a series of sectoral roundtables covering key areas, including Advanced Manufacturing, Consumer Goods, Food and Drink, Science, Technology and Innovation, Construction, Infrastructure & Clean Energy, and Financial, Professional & Business Services. These roundtables brought together business leaders from both nations, generating valuable insights to guide the effective implementation of the trade agreement.
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On the sidelines, the India–UK CEO Forum convened, co-chaired by prominent industry leaders from both countries. The Forum served as a vital platform for identifying new opportunities in trade, investment, and innovation, reinforcing the commitment to fostering a modern and mutually beneficial economic partnership.
The ministers also exchanged perspectives on the global trade and economic landscape, recognising the importance of building resilient and diversified supply chains amid global uncertainties. Goyal underscored India’s role as a major driver of global economic growth, while Kyle highlighted the significance of the UK’s trade agreement with India, describing it as one of the UK’s most important trade deals, enabling British businesses to access India’s vast market.
The meeting concluded with a business plenary attended by senior industry representatives from both nations. Both sides expressed their determination to accelerate the trade partnership, unlocking new avenues for growth, investment, and innovation through the India–UK CETA.
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