Commerce and Industry Minister Piyush Goyal on Monday, 13 October 2025, called on businesses across India and the United Kingdom to capitalise on the newly concluded India-UK Comprehensive Economic and Trade Agreement (CETA), urging both sides to double bilateral trade by 2030 and elevate the India-UK Vision 2035 into a binding framework for economic ambition. The call came at the 16th Session of the India-UK Joint Economic and Trade Committee (JETCO), held in New Delhi.

What CETA Unlocks

Goyal described CETA as a landmark milestone, noting that the agreement grants zero-duty access in the UK market for most Indian exports while opening significant avenues for UK exporters across multiple sectors. He further highlighted that the Social Security Double Contribution Convention, a parallel accord, could enhance service-sector competitiveness and improve profitability for both economies by enabling the supply of services at more competitive prices.

India and the UK, he argued, are complementary economies with substantial untapped potential — from expanding existing trade volumes to diversifying product categories and developing entirely new export corridors.

India's Export Strengths and UK Opportunities

Goyal identified India's major export categories under the agreement as smartphones, pharmaceutical products, jewellery, textiles, leather goods, rice, iron and non-alloy steel, machinery parts, and auto components. On the UK side, he pointed to potential in petroleum value chain products, electronics and electrical equipment, medicaments, motor cars, and Scotch whisky as sectors well-placed to benefit from expanded access to the Indian market.

Five Priority Areas for Cooperation

The minister outlined five strategic pillars for deepening the bilateral relationship. The first was infrastructure and clean energy — encompassing project development, renewable energy, transmission lines, and utility financing. The second was advanced manufacturing and resilient supply chains, with a focus on electric vehicles, batteries, electronics, and precision engineering.

The third priority was technology and innovation, where Goyal called for stronger ties between research institutions, technology companies, and start-ups, with specific emphasis on semiconductors, quantum computing, and artificial intelligence. The fourth was financial services — particularly collaboration between the City of London and GIFT City in Gandhinagar, Gujarat, covering fintech, insurance, cross-border payments, and trade finance. The fifth was healthcare and consumer sectors, spanning generic pharmaceuticals, branded and innovative medicines, diagnostics, food processing, and consumer goods.

UK's Response: Businesses Must Drive the Agreement

Addressing the same session, UK Secretary of State for Business, Innovation, Science and Trade Jonathan Reynolds noted that CETA had been in force for nearly 100 days and that early signs were encouraging — with businesses on both sides beginning to actively explore new opportunities in advanced manufacturing, clean energy, life sciences, technology, services, and creative industries. Reynolds emphasised that the agreement's ultimate success would hinge on businesses using it to expand exports, deepen investment, and build lasting partnerships.

What Comes Next

With CETA barely three months old, the JETCO session signals that both governments are keen to move swiftly from treaty text to commercial reality. The 2030 bilateral trade doubling target and the Vision 2035 framework will now serve as the benchmarks against which progress is measured. Industry bodies, trade associations, and financial institutions on both sides are expected to operationalise the five priority areas in the months ahead.