During a meeting in Mumbai, Commerce and Industry Minister Piyush Goyal and UK Prime Minister Keir Starmer announced that the Joint Economic and Trade Committee (JETCO) will be re‑structured to push forward the India‑UK Comprehensive Economic and Trade Agreement (CETA). The decision, made on Thursday, aims to turn the agreement from paper into action and open new trade opportunities for businesses on both sides of the Atlantic.
JETCO is a key platform for UK companies looking to connect with Indian firms and decision makers. By reshaping the committee, the two governments say they will create a stronger framework for cooperation, faster implementation of CETA, and higher trade volumes. The ministers highlighted that the reform is a “game‑changer” that will help increase bilateral trade, especially in advanced manufacturing, digital services, clean energy, and other high‑growth sectors.
Both sides re‑affirmed their commitment to quick, results‑oriented work. They want to double India‑UK trade by 2030, using each country’s strengths. “India‑UK economic partnership enters a new phase,” Goyal posted on X. “The Terms of Reference will strengthen our strategic engagement and boost joint ambition to significantly enhance trade.” The agreement, signed last July, will help businesses and consumers in both nations benefit from lower tariffs, clearer rules, and better supply‑chain integration.
Keir Starmer said the partnership aligns perfectly with the India‑UK Vision 2035 roadmap, which aims to deepen ties across trade, investment, and technology over the next decade. “The India‑UK trade partnership is really important,” he added, stressing that CETA is a cornerstone of that vision.
Key points from the meeting include:
* Re‑establish the Joint Economic and Trade Committee to monitor CETA rollout.
* Focus on reducing non‑tariff barriers and synchronizing regulations.
* Push for increased trade in advanced manufacturing, digital trade, clean energy, and services.
* Target a two‑fold increase in bilateral trade by 2030.
* Commit to the India‑UK Vision 2035 strategy, strengthening long‑term partnership.
The reforms are expected to give UK companies a clearer path into India’s vast market and help Indian firms tap into the UK’s advanced technology and services sectors. With the new JETCO structure, the India‑UK trade partnership is set to accelerate, benefiting exporters, investors, and consumers on both sides of the Indian Ocean.
Source: ianslive
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