On October 8, 2025, India’s Commerce Minister, Piyush Goyal, and the UK's Trade Secretary, Peter Kyle, met in Mumbai to advance the India-UK trade partnership, focusing on implementing the Comprehensive Economic and Trade Agreement (CETA) signed in July 2025.
During the bilateral talks, both sides emphasized the need to implement the CETA promptly to maximize benefits for businesses and consumers on both sides.
They also committed to reinventing the Joint Economic and Trade Committee (JETCO) to steer the implementation of the agreement, to ensure a coordinated and performance-based approach.
The areas identified for cooperation are advanced manufacturing, digital trade, clean energy, and services.
One of the major takeaways from the meeting was the reiteration of the mutual goal to increase bilateral trade between the UK and India up to twice its current level by 2030.
Currently, the trade figure stands at around $56 billion per annum, with merchandise trade accounting for $23 billion and services trade for $33 billion. The ministers intend to push it to $112 billion by 2030 by capitalizing on the complementarities of the two economies.
The meeting has highlighted the melting of economic ties between the UK and India, thus demonstrating a common will to foster development and collaboration in the chosen areas.
The outcomes align with broader aims to strengthen global trade relations and enhance the candidacy of both nations in the new global economy.
The talks between Piyush Goyal and Peter Kyle in Mumbai are a significant landmark in India-UK trade relations. By institutionalizing the CETA and pursuing ambitious bilateral trade targets, the two nations stand to unlock new horizons of economic development and strategic cooperation in the years ahead.