The Union Minister of Commerce and Industry, Piyush Goyal, and the UK Secretary of State for Business and Trade, Peter Kyle, held a bilateral meeting in Mumbai to chart a renewed course for the India–UK trade and investment partnership, the Ministry of Commerce said in a statement on Wednesday.
The ministers reaffirmed their shared ambition to double bilateral trade by 2030, leveraging the complementarities between the two economies in areas such as advanced manufacturing, digital trade, clean energy, and services.
The meeting marked a significant step towards operationalising the India–UK Comprehensive Economic and Trade Agreement (CETA), with both Ministers agreeing to reposition the Joint Economic and Trade Committee (JETCO) to oversee its implementation and delivery.
Both sides underlined their commitment to ensuring swift, coordinated, and results-oriented implementation of the Agreement, aimed at realising its full potential for businesses and consumers in both countries.
Emphasising the transformative scope of CETA, they discussed ways to maximise its benefits through regulatory cooperation, addressing non-tariff barriers, and promoting supply chain integration.
Both the ministers also exchanged views on the global trade and economic outlook, acknowledging the importance of building resilient and diversified supply chains amid ongoing global uncertainties.
At the meeting, Piyush Goyal highlighted India’s emergence as a key growth engine of the global economy, while Secretary Kyle underscored that UK’s deal is the best ever secured with India, putting British businesses first in line to access its vast market and drive growth, jobs, and prosperity at home.
Ahead of the ministerial meeting, a highly productive Commerce Secretary and Director General-level meeting was held to set the tone, laying a strong foundation for a full day of engaging and forward-looking discussions.
The India–UK CEO Forum was also held bringing together business leaders from both countries to discuss new opportunities for trade, investment, and innovation.
The Forum was co-chaired by prominent industry representatives from India and the United Kingdom, serving as a key platform to deepen bilateral economic cooperation and strengthen partnerships across sectors.
The discussions reaffirmed the shared commitment of India and the UK to advancing a modern, mutually beneficial, and sustainable economic partnership, strengthened by the India-UK CETA.