Commerce and Industry Minister Piyush Goyal has called for doubling India-UK Bilateral trade by 2030. Mr Goyal said this while addressing the JETCO Business Plenary under the 16th Session of the India-UK Joint Economic and Trade Committee (JETCO) in New Delhi today. Mr Goyal reaffirmed India’s commitment to deepening India-UK economic cooperation through sustained engagement, stronger institutional mechanisms, and enhanced collaboration. He said, this will unlock new opportunities for businesses in both countries.
The Minister called upon businesses in India and the United Kingdom to translate the opportunities created by the India-UK Comprehensive Economic and Trade Agreement (CETA) into expanded trade, investment, partnerships and job creation. Mr Goyal said CETA marks a major milestone in the economic partnership between the two countries, providing zero-duty access in the United Kingdom market for most Indian exports while opening up significant opportunities for UK exporters across sectors. He said the wide-ranging CETA had opened up numerous opportunities to expand trade, encourage new exporters and introduce new product lines.
Highlighting the existing trade complementarities, Mr Goyal noted that India was a major exporter of smartphones, pharmaceutical products, jewellery, textiles, leather goods, rice and certain agricultural products, iron and non-alloy steel, machinery parts and auto components. On the UK side, he identified potential in the supply of products across the petroleum value chain, technology products in electronics and electrical equipment, medicaments and motor cars.
