Piyush Goyal Calls For Doubling India-UK Trade, Expanding Export Opportunities

(MENAFN- KNN India) New Delhi, Oct 13 (KNN) Commerce and Industry Minister Piyush Goyal has called for doubling India-UK bilateral trade by 2030, urging businesses to use opportunities under the Comprehensive Economic and Trade Agreement (CETA) to expand exports, investment and partnerships.

Addressing the business plenary of the 16th India-UK Joint Economic and Trade Committee (JETCO), Goyal said CETA, which came into force on July 15, 2026, provides zero-duty access to the UK market for most Indian exports and opens opportunities for UK exporters and service providers.

He identified five priority areas for cooperation: infrastructure and clean energy, advanced manufacturing and supply chains, technology and innovation, financial services, and healthcare and consumer goods.

These include potential collaboration in renewable energy, electric vehicles, batteries, electronics, semiconductors, artificial intelligence, fintech, pharmaceuticals and diagnostics.

Goyal also called for clear, accessible guidance on tariff schedules, rules of origin and documentation requirements, particularly for micro, small and medium enterprises (MSMEs) and first-time exporters.

He said greater business engagement through sectoral meetings, delegations and exhibitions could help increase the number of exporters and products entering each other's markets.

UK Business, Innovation, Science and Trade Secretary Jonathan Reynolds said both governments had established committees and working groups and undertaken a joint review of CETA utilisation to address business feedback and implementation issues.

He said the agreement's success would depend on businesses using it to expand trade, investment and partnerships.

Union Minister of State for Commerce and Industry Jitin Prasada highlighted artificial intelligence, semiconductors and data centres as areas for technology cooperation. Referring to the Technology Security Initiative agreed in 2024, he said the countries could combine UK research and development capabilities with India's engineering talent and capacity to deploy technology at scale.

The ministers reviewed early business uptake of CETA, bilateral trade and investment developments, and priorities for the year ahead. They also welcomed the establishment of sub-committees and working groups and agreed to develop a practical roadmap identifying priority areas for cooperation.

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

(KNN Bureau)

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