India and the UK on Friday discussed ways to step up bilateral trade and investment flows and better tap opportunities under the Comprehensive Economic and Trade Agreement (CETA) signed in July last year.
The discussions took place during a virtual meeting between Commerce and Industry Minister Piyush Goyal and UK Secretary of State for Business and Trade Peter Kyle.
“We explored ways to further enhance our trade and investment ties while fully leveraging the opportunities under the India-UK Comprehensive Economic and Trade Agreement (CETA),” Goyal said in a social media post.
India and the UK had signed the CETA on July 24, 2025. Under the pact, 99 percent of Indian exports will enter the UK market at zero duty.
The CETA, signed last July, is a wide-ranging trade pact aimed at deepening economic integration between the two countries. It provides for near-complete tariff liberalisation, with almost all Indian exports gaining duty-free access to the UK market. In return, India has agreed to progressively reduce tariffs on a range of British goods, including automobiles and whisky. The agreement also covers areas such as services, investment facilitation, digital trade and regulatory cooperation, reflecting the growing importance of non-goods sectors in bilateral ties.
Beyond market access, CETA is designed to strengthen supply chains, encourage cross-border investment and improve ease of doing business between the two economies. With bilateral trade currently valued at around US$ 56 billion, the pact sets an ambitious target of doubling this figure by 2030. It is seen as a strategic step in India’s trade policy, enhancing its engagement with developed markets, while offering UK businesses greater access to one of the world’s fastest-growing major economies.
(With inputs from PTI)
