Trade ministers of India and the United Kingdom on Monday said their shared ambition is to double the bilateral trade by 2030 as both are committed to utilise mutually beneficial opportunities created under the free trade agreement that entered into force on July 15.
Jointly addressing corporate honchos at the business plenary of the Joint Economic and Trade Committee (JETCO) with British secretary of state for business and trade Jonathan Reynolds, commerce and industry minister Piyush Goyal said, “2030 should not just reflect the end of this decade, it should be the beginning of much greater ambition.
Goyal said they emphasised the importance of effectively using the India-UK Comprehensive Economic and Trade Agreement (CETA) while addressing trade barriers and strengthening business-to-business engagement to translate the agreement’s opportunities into tangible outcomes. The delegation will also be travelling to other cities across the country where they will hold discussions with various Indian businesses, the minister said. It supported a broader programme of engagement involving government, business, universities, innovators and regional leaders from both countries, including parallel visits by the UK’s Secretaries of State for Scotland and for Environment, Food and Rural Affairs, the two countries said in a joint statement.
Goyal and minister of state for commerce Jitin Prasada also met a business delegation of visiting UK mayors at Bharat Mandapam. They held discussions on deepening regional partnerships in trade, investment, and innovation. The JETCO assumed greater significance as it coincided with the visit of seven mayors and a combined authority leader from the North of England.
