Indian, UK trade ministers hold bilateral meeting to reset Joint Economic and Trade Committee

Indian Minister for Commerce and Industry Piyush Goyal and UK Secretary of State for Business and Commerce Peter Kyle met in Mumbai to advance the India-UK trade and investment partnership.

The bilateral meeting marked a crucial step towards the implementation of the Comprehensive Economic and Trade Agreement (CETA) between India and the UK, with both leaders agreeing to reposition the Joint Economic and Trade Committee (JETCO) to oversee its implementation and execution.

Both sides reaffirmed their commitment to rapid, coordinated and results-oriented execution of the agreement, with the aim of unlocking its full potential for businesses and consumers in both countries.

Doubling trade by 2030

The ministers reiterated their shared ambition to double bilateral trade by 2030, leveraging synergies in advanced manufacturing, digital trade, clean energy and services.

They highlighted the transformative scope of CETA and discussed strategies to maximize its impact through regulatory cooperation, removal of non-tariff barriers and deeper supply chain integration.

Global outlook and economic resilience

Goyal and Kyle exchanged views on the global trade landscape, highlighting the need for resilient and diverse supply chains amid continued uncertainties.

Minister Goyal highlighted India’s rise as an engine of global growth, while Secretary of State Kyle described the UK-India deal as the most ambitious to date, enabling UK businesses to tap into India’s vast market and drive growth, jobs and prosperity domestically.

Sector engagement and CEO forum

Side meetings were held at Commerce Secretary and Director-General level, as well as sector roundtables focusing on priority areas such as advanced manufacturing, consumer goods, food and drink, science and innovation, infrastructure and clean energy, and financial and professional services (including IT/ITeS, education and engineering).

The India-UK CEO Forum brought together top business leaders from both countries to explore new avenues in trade, investment and innovation. Co-chaired by industry representatives, the Forum is expected to play a key role in deepening bilateral economic ties and promoting cross-sector partnerships.

Co-chaired by industry representatives from India and the UK, the Forum aims to serve as a key platform for deepening bilateral economic cooperation and strengthening cross-sector partnerships.