India-UK Aims to Double Trade Amid CETA Boost

Prime Minister Narendra Modi asserts that the India-UK Comprehensive Economic and Trade Agreement (CETA) will serve as a roadmap for progress, aiming to double bilateral trade from USD 56 billion by 2030. CETA offers unprecedented duty-free access for Indian exports, enhancing economic ties and fostering employment opportunities.

Prime Minister Narendra Modi expressed optimism on Thursday that India and the United Kingdom would double their bilateral trade from the current USD 56 billion ahead of their 2030 target. Speaking at the India-UK CEO Forum, Modi emphasized that the Comprehensive Economic and Trade Agreement (CETA) outlines a roadmap for shared growth between the two major economies.

'Today, our bilateral trade is approximately USD 56 billion. We are targeting to double this by 2030, and I believe we can achieve this ahead of schedule,' Modi stated at the CEO Forum in Mumbai. He praised UK Prime Minister Keir Starmer for his dedication to finalizing the historic CETA and added, 'This agreement is more than just trade; it is a roadmap for shared progress and prosperity.'

Prime Minister Keir Starmer, on a two-day visit to India, also attended the forum. Modi noted that CETA will enhance market access and bolster MSMEs, creating new employment opportunities for millions. Key details of CETA include duty-free access for 99% of India's exports to the UK, which experts predict will benefit industries like textiles, marine products, and organic chemicals.

(With inputs from agencies.)