India, UK push for more trade, investment and jobs as CETA enters implementation phase

India and the United Kingdom have set their sights on doubling bilateral trade by 2030, with Commerce and Industry Minister Piyush Goyal urging businesses in both countries to make greater use of the recently implemented Comprehensive Economic and Trade Agreement (CETA).

Speaking at the 16th meeting of the India-UK Joint Economic and Trade Committee (JETCO) in New Delhi, Goyal said the agreement should translate into higher exports, investment, business partnerships and job creation.

The meeting was attended by UK Business Secretary Jonathan Reynolds and Union Minister of State for Commerce and Industry Jitin Prasada.

The meeting was the first JETCO session since CETA came into force on July 15, 2026.

Both sides reviewed the initial response to the agreement and discussed steps to help businesses benefit from the new trade arrangements.

Ministers push for greater use of trade deal

Goyal said CETA had opened up new opportunities for Indian exporters through zero-duty access to the UK market for most Indian exports, while creating opportunities for British businesses in India.

He called on companies to turn the agreement’s provisions into concrete commercial gains.

The minister identified five key areas for deeper cooperation: infrastructure and clean energy, advanced manufacturing, technology and innovation, financial services, and healthcare and consumer goods.

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Potential areas include electric vehicles, batteries, electronics, artificial intelligence, semiconductors, renewable energy and pharmaceuticals.

Goyal also highlighted opportunities to link London’s financial sector with Gujarat’s GIFT City in areas such as fintech, insurance and trade finance.

He said India’s manufacturing capacity, digital infrastructure and skilled workforce complemented Britain’s strengths in research, design, advanced technology and financial services.

Early trade gains and focus on smaller businesses

The joint statement said businesses had started using CETA soon after it took effect. Indian exporters sent more than 50 consignments to the UK on the first day, including smartphones, machinery, jewellery, garments, tea and coffee.

A shipment of Joha rice from Assam also marked the variety’s first export to the UK.

On the other side, tariff-free Scottish salmon reached India within a fortnight of the agreement taking effect. Scotch whisky entered the Indian market at reduced tariffs, while the first cars exported under the agreement’s tariff-rate quota cleared customs.

Reynolds said the agreement’s success would depend on businesses using it to expand exports, investment and partnerships.

He called for practical guidance on tariff reductions, rules of origin, customs procedures and regulatory requirements, particularly for micro, small and medium enterprises (MSMEs) and first-time exporters.

Both countries agreed to review how businesses use CETA, exchange data annually from a year after its implementation and address problems through joint committees and working groups.

Technology and regional partnerships in focus

Prasada called for closer engagement between Indian and British companies, research institutions and industry bodies, particularly in artificial intelligence, semiconductors and data centres.

He said combining Britain’s research capabilities with India’s engineering talent and ability to deploy technology at scale could create opportunities in global markets.

The meeting also coincided with a visit by seven mayors and a combined authority leader from northern England, highlighting efforts to expand economic links beyond national governments and major business centres.

Both sides agreed that the next JETCO meeting would take place in the United Kingdom in 2027.