Commerce and Industry Minister Shri Piyush Goyal has called for doubling India-UK bilateral trade by 2030 through the Comprehensive Economic and Trade Agreement (CETA) that came into force on July 15, 2026. Addressing the 16th Session of the India-UK Joint Economic and Trade Committee (JETCO), Goyal emphasized that CETA provides zero-duty access in the UK market for most Indian exports while opening significant opportunities for UK exporters across sectors, with approximately 1,500 days remaining until the 2030 target deadline.
The Minister identified five priority areas for cooperation: infrastructure and clean energy (project development, renewable energy, transmission lines); advanced manufacturing and resilient supply chains (electric vehicles, batteries, electronics, precision engineering); technology and innovation (semiconductors, quantum computing, artificial intelligence); financial services collaboration between City of London and GIFT City (fintech, insurance, cross-border payments); and healthcare and consumer sectors (pharmaceuticals, diagnostics, food processing).
Both governments emphasized the need for practical support to help businesses, particularly MSMEs and first-time exporters, understand tariff reductions, rules of origin, customs procedures, and documentation requirements. Goyal specifically called for guidance materials in regional languages including Tamil to assist businesses from different regions and sizes. The UK Secretary of State, Jonathan Reynolds, noted that CETA has been in force for almost 100 days with encouraging signs of business uptake, while Union Minister of State Jitin Prasada highlighted technology collaboration as the next frontier in India-UK relations.
The JETCO session conducted a Joint Utilisation Review of CETA and established sub-committees and working groups to develop a practical roadmap for implementation. The meeting coincided with a visit by seven mayors and combined authority leaders from Northern England, facilitated by the UK India Business Council which is supporting market strategies and engagement plans between Northern regions and Indian businesses.