Union Minister of Commerce and Industry Piyush Goyal and United Kingdom (UK) Secretary of State for Business and Trade Peter Kyle held a bilateral meeting in Mumbai on Wednesday to chart a renewed path for the India-UK trade and investment partnership, news agency ANI reported, citing a Ministry of Commerce and Industry release.
The meeting marked an important step towards operationalising the India-UK Comprehensive Economic and Trade Agreement (CETA). Both ministers agreed to reposition the Joint Economic and Trade Committee (JETCO) to oversee the agreement’s implementation and progress.
According to the ministry, both sides reiterated their commitment to a swift, coordinated, and result-oriented execution of the agreement, aimed at unlocking its full potential for businesses and consumers in both nations, reported ANI.
The ministers reaffirmed their shared goal of doubling bilateral trade by 2030 by leveraging complementarities between the two economies in sectors such as advanced manufacturing, digital trade, clean energy, and services.
Emphasising the transformative potential of CETA, the two leaders discussed ways to maximise its benefits through enhanced regulatory cooperation, addressing non-tariff barriers, and strengthening supply chain integration, ANI reported.
A productive round of discussions between Commerce Secretary-level and Director General-level officials set the stage for the ministerial dialogue, which laid a strong foundation for a day of forward-looking deliberations.
Ahead of the bilateral talks, sectoral roundtables were organised across key areas including advanced manufacturing, consumer goods, food and drink, science, technology and innovation, construction, infrastructure and clean energy, and financial, professional and business services (including IT/ITeS, education, and engineering). These sessions brought together leading industry voices from both countries and offered valuable insights to guide the agreement’s implementation.
The India-UK CEO Forum was also convened, bringing together business leaders from both nations to explore new avenues for trade, investment, and innovation. Co-chaired by senior industry figures from India and the UK, the forum served as an important platform to deepen bilateral economic cooperation and strengthen partnerships across sectors. The discussions reaffirmed both nations’ commitment to a modern, mutually beneficial, and sustainable economic partnership under the CETA framework.
The ministers also exchanged views on the global economic landscape, stressing the need for resilient and diversified supply chains amid ongoing global uncertainties. Shri Goyal highlighted India’s emergence as a key growth engine of the world economy, while Secretary Kyle stated that the UK’s deal is “the best ever secured with India,” positioning British businesses to access India’s vast market and drive growth, jobs, and prosperity at home.
The meeting concluded with a business plenary attended by senior industry representatives from both countries. Both sides reiterated their resolve to advance a modern, inclusive, and mutually beneficial trade partnership, unlocking new opportunities for growth, investment, and innovation.
(With ANI inputs)
