Piyush Goyal, Peter Kyle meet in Mumbai to fast-track CETA implementation, double India-UK trade by 2030
Both ministers reaffirmed their shared goal of doubling bilateral trade by 2030, emphasising collaboration in advanced manufacturing, digital trade, clean energy, and services.
- Oct 8, 2025,
- Updated Oct 8, 2025 7:15 PM IST
India and the United Kingdom (UK) on Wednesday took a major step toward strengthening their trade and investment partnership, as Commerce and Industry Minister Piyush Goyal and UK Business and Trade Secretary Peter Kyle met in Mumbai to outline a renewed roadmap for bilateral economic cooperation. The meeting focused on operationalising the India–UK Comprehensive Economic and Trade Agreement (CETA) and resetting the Joint Economic and Trade Committee (JETCO) to oversee its implementation.
The India-UK CETA, signed in July, wipes out tariffs on 95% of India’s exports to the UK — covering nearly all trade value. Duties on textiles, leather, and processed foods have dropped from up to 70% to zero, while Indian farm goods like rice, fruits, and spices now enjoy duty-free access. The pact also boosts collaboration in IT, finance, education, and healthcare. Mobility gets easier too — from business visitors to 3,500 Indian chefs, yoga instructors, and artists heading to the UK each year. With tariff cuts worth ₹45,000 crore, the deal promises cheaper goods and stronger trade ties for both nations.
Moreover, both the ministers reaffirmed their shared goal of doubling bilateral trade by 2030, emphasising collaboration in advanced manufacturing, digital trade, clean energy, and services. At present, the bilateral annual trade between India and the UK stands at $56 billion. Of this, the total merchandise-trade between the countries is around $23 billion whereas the total services trade stands at roughly $33 billion.
Describing the talks as “productive and forward-looking,” the ministers agreed to accelerate the implementation of CETA to ensure tangible gains for businesses and consumers. They also discussed ways to tackle non-tariff barriers, strengthen regulatory cooperation, and enhance supply chain resilience amid global uncertainties.
The discussions were preceded by sectoral roundtables in key areas such as science and innovation, consumer goods, clean energy, and financial services. The India–UK CEO Forum, co-chaired by industry leaders from both nations, further underlined the commitment to building a modern and sustainable economic partnership.
Minister Goyal highlighted India’s emergence as a global growth driver, while Secretary Kyle called the deal the UK’s “best ever with India,” giving British firms a first-mover advantage in tapping into India’s expanding market.
The day concluded with a business plenary attended by senior industry representatives, where both sides reiterated their determination to unlock new opportunities for trade, investment, and innovation through the evolving India–UK partnership.
India and the United Kingdom (UK) on Wednesday took a major step toward strengthening their trade and investment partnership, as Commerce and Industry Minister Piyush Goyal and UK Business and Trade Secretary Peter Kyle met in Mumbai to outline a renewed roadmap for bilateral economic cooperation. The meeting focused on operationalising the India–UK Comprehensive Economic and Trade Agreement (CETA) and resetting the Joint Economic and Trade Committee (JETCO) to oversee its implementation.
The India-UK CETA, signed in July, wipes out tariffs on 95% of India’s exports to the UK — covering nearly all trade value. Duties on textiles, leather, and processed foods have dropped from up to 70% to zero, while Indian farm goods like rice, fruits, and spices now enjoy duty-free access. The pact also boosts collaboration in IT, finance, education, and healthcare. Mobility gets easier too — from business visitors to 3,500 Indian chefs, yoga instructors, and artists heading to the UK each year. With tariff cuts worth ₹45,000 crore, the deal promises cheaper goods and stronger trade ties for both nations.
Moreover, both the ministers reaffirmed their shared goal of doubling bilateral trade by 2030, emphasising collaboration in advanced manufacturing, digital trade, clean energy, and services. At present, the bilateral annual trade between India and the UK stands at $56 billion. Of this, the total merchandise-trade between the countries is around $23 billion whereas the total services trade stands at roughly $33 billion.
Describing the talks as “productive and forward-looking,” the ministers agreed to accelerate the implementation of CETA to ensure tangible gains for businesses and consumers. They also discussed ways to tackle non-tariff barriers, strengthen regulatory cooperation, and enhance supply chain resilience amid global uncertainties.
The discussions were preceded by sectoral roundtables in key areas such as science and innovation, consumer goods, clean energy, and financial services. The India–UK CEO Forum, co-chaired by industry leaders from both nations, further underlined the commitment to building a modern and sustainable economic partnership.
Minister Goyal highlighted India’s emergence as a global growth driver, while Secretary Kyle called the deal the UK’s “best ever with India,” giving British firms a first-mover advantage in tapping into India’s expanding market.
The day concluded with a business plenary attended by senior industry representatives, where both sides reiterated their determination to unlock new opportunities for trade, investment, and innovation through the evolving India–UK partnership.