Indian Commerce and Industries Minister Piyush Goyal held a crucial meeting with Peter Kyle, the U.K.’s Secretary of State for Business and Trade, in Mumbai on Wednesday. The primary objective of their discussions was to push forward with the operationalization of the ambitious India-U.K. Comprehensive Economic and Trade Agreement (CETA), as confirmed by a statement from the Ministry of Commerce and Industry.
Secretary Kyle’s visit to India is part of the delegation accompanying U.K. Prime Minister Keir Starmer on his inaugural two-day official visit to the country since taking office.
This significant meeting marks a pivotal moment for the India-UK CETA. Both ministers agreed to restructure the Joint Economic and Trade Committee (JETCO) to ensure more effective oversight of the agreement’s implementation and delivery, the statement highlighted.
Furthermore, the ministers unequivocally reaffirmed their shared, ambitious goal: to double bilateral trade between India and the U.K. by the year 2030.
During their talks, emphasis was placed on maximizing the transformative potential of CETA. Discussions revolved around strategies to achieve this, including fostering closer regulatory cooperation, systematically addressing non-tariff barriers that hinder trade, and promoting deeper integration of supply chains across both economies.
The high-ranking officials also took the opportunity to exchange perspectives on the current global trade and economic landscape. They acknowledged the critical importance of developing resilient and diverse supply chains, especially in light of ongoing global uncertainties.