India, UK hold meet to fast-track CETA implementation, double trade by 2030

Mumbai, Oct 8 (IANS) Commerce and Industry Minister Piyush Goyal on Wednesday met Peter Kyle, UK’s Secretary of State for Business and Trade, here with a view to move forward with the operationalisation of the India-UK Comprehensive Economic and Trade Agreement (CETA) and double the bilateral trade by 2030.

Kyle is in India as a part of the massive trade delegation accompanying UK Prime Minister Keir Starmer on his two-day official visit to India.

“The meeting marked a significant step towards operationalising the India-UK CETA, with both Ministers agreeing to reposition the Joint Economic and Trade Committee (JETCO) to oversee its implementation and delivery,” according to the ministry statement.

In a post on X, Goyal said it was a pleasure to meet Kyle, and reaffirm “our shared commitment to advancing the India-UK economic partnership”.

“Our discussions focused on accelerating the implementation of our landmark trade deal and delivering its gains through the India-UK Joint Economic and Trade Committee (JETCO). We remain steadfast in our resolve to translate ambition into achievement, fostering growth, generating employment, and deepening ties between the two sides,” the minister noted.

Goyal also co-chaired a powerful session on advanced manufacturing, a cornerstone of the India-UK partnership.

“From AI to aerospace, automotive to semiconductors, we are putting the India-UK FTA into action. Two innovative economies, one shared future,” said Goyal.

He further stated that the bright future for India-UK ties is reflected in the largest business delegation from the UK that is accompanying him on this visit.

He also welcomed Eli Lilly’s $1 billion investment in India to expand its manufacturing capacity.

“This reaffirms our nation's position as a global hub for innovation, R&D, manufacturing, and healthcare solutions. Under PM Modi’s leadership, India has made remarkable progress in enhancing Ease of Doing Business and building global trust in its quality ecosystem that has made it one of the most preferred investment destinations,” Goyal highlighted.

--IANS

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