India and UK Strengthen Trade Ties, Chart Path to Implement Economic Agreement

The Ministers reaffirmed their shared vision to double bilateral trade by 2030, reflecting the complementarity and mutual strengths of the Indian and UK economies.

In a major milestone for bilateral economic relations, Union Minister of Commerce and Industry Shri Piyush Goyal and Rt. Hon. Peter Kyle, the United Kingdom’s Secretary of State for Business and Trade, held a high-level bilateral meeting in Mumbai to chart a renewed and ambitious roadmap for the India–UK trade and investment partnership.

The dialogue marked a significant step toward operationalising the India–UK Comprehensive Economic and Trade Agreement (CETA), a landmark framework that aims to deepen cooperation in trade, investment, technology, and services between the two major economies.

Both sides agreed to reposition the Joint Economic and Trade Committee (JETCO) as the central mechanism for overseeing the implementation, monitoring, and delivery of CETA—ensuring that the agreement translates swiftly into tangible outcomes for businesses, workers, and consumers in both nations.

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Fast-Tracking CETA Implementation

The Ministers reaffirmed their shared vision to double bilateral trade by 2030, reflecting the complementarity and mutual strengths of the Indian and UK economies. They underlined the importance of a swift, coordinated, and results-oriented implementation strategy to unlock the full potential of CETA.

Key focus areas identified during the meeting include:

• Regulatory cooperation and alignment of standards to facilitate smoother market access.

• Addressing non-tariff barriers to reduce procedural bottlenecks and enhance ease of doing business.

• Promoting supply chain integration across sectors such as manufacturing, energy, and digital services.

• Encouraging investments in innovation, technology, and sustainability to drive inclusive economic growth.

CETA is expected to reshape the India–UK economic landscape by lowering trade barriers, enhancing transparency, and providing new opportunities for startups, small enterprises, and major corporations alike.

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Productive Dialogue Across Multiple Levels

The ministerial dialogue was preceded by a Commerce Secretary–Director General-level meeting, which laid the groundwork for the detailed discussions. The preparatory meeting identified key priority sectors and implementation pathways to ensure the timely execution of commitments made under the agreement.

The Ministers also acknowledged the pivotal role of industry, academia, and regulatory bodies in translating policy into progress, emphasizing that CETA’s success depends on strong public–private collaboration.

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Sectoral Roundtables: Charting the Way Forward

Ahead of the bilateral talks, a series of sector-specific roundtables were held across priority domains, including:

• Advanced Manufacturing and Consumer Goods

• Food and Drink Industries

• Science, Technology, and Innovation

• Construction and Infrastructure

• Clean Energy and Green Transition

• Financial, Professional, and Business Services, including IT/ITeS, education, and engineering

These dialogues brought together senior policymakers, regulators, and leading industry voices from both India and the UK. The sessions focused on emerging opportunities in digital trade, technology transfer, green infrastructure, and supply chain resilience, aligning with both nations’ shared commitment to sustainable and inclusive economic growth.

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India–UK CEO Forum: A Platform for Strategic Business Collaboration

The India–UK CEO Forum was also convened alongside the ministerial dialogue, co-chaired by prominent business leaders from both countries. The Forum served as a high-level platform to discuss new opportunities for trade, investment, and innovation, particularly in areas like green technology, financial services, fintech, education, and digital manufacturing.

Business leaders emphasized the need to enhance cross-border investment frameworks, create innovation partnerships, and build joint ventures in high-growth sectors such as renewable energy, electric mobility, and biotechnology.

The discussions reaffirmed that the India–UK CETA represents a next-generation partnership built on shared democratic values, a strong entrepreneurial spirit, and a mutual drive toward sustainability and innovation.

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Shared Vision for Global Trade Resilience

The Ministers also exchanged views on the evolving global trade and economic landscape, acknowledging the importance of resilient and diversified supply chains amid rising global uncertainties and geopolitical shifts.

Shri Piyush Goyal reiterated India’s emergence as a key growth engine of the global economy, highlighting the government’s efforts to enhance manufacturing competitiveness, promote digital trade, and attract foreign investment through policy stability and transparency.

In his remarks, Secretary Peter Kyle described the India–UK trade relationship as a transformative partnership, stating that the new deal represents “the best ever secured by the UK with India,” enabling British businesses to gain early and prioritized access to India’s fast-growing market.

Both leaders emphasized the need to build a partnership that is future-ready, encompassing new areas like AI governance, sustainability-linked trade, green finance, and digital public infrastructure.

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Business Plenary: Building Bridges for a Prosperous Future

The meeting concluded with a Business Plenary Session attended by senior industry representatives, trade bodies, and chambers of commerce from both sides. The session focused on accelerating investment flows, enhancing market linkages, and promoting innovation ecosystems through joint ventures and institutional partnerships.

The plenary highlighted the joint determination of India and the UK to advance a modern, inclusive, and mutually beneficial trade partnership—one that not only fosters economic growth but also supports job creation, skills development, and environmental sustainability.

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Toward a Shared Economic Future

The renewed momentum in India–UK trade relations reflects the evolving global shift toward trusted, resilient, and diversified partnerships. With the CETA framework now moving toward implementation, both nations are poised to unlock new frontiers of economic collaboration—driving innovation, sustainability, and shared prosperity.

The Mumbai dialogue has reaffirmed that the India–UK partnership is not merely transactional but transformational—anchored in trust, shared democratic values, and a collective commitment to shaping a prosperous, sustainable global future.