Indian Commerce and Industry Minister Piyush Ved Prakash Goyal and UK Secretary of State for Business, Innovation, Science and Trade Jonathan Reynolds co-chaired the 16th meeting of the India–UK Joint Economic and Trade Committee (JETCO) in New Delhi.
Marking the first high-level trade meeting since the historic launch of negotiations for the India–UK Comprehensive Economic and Trade Agreement (CETA), the ministers celebrated the immediate momentum generated by the pact and outlined ambitious priorities for bilateral economic cooperation.
Key Highlights
- Immediate Trade Impact: On the very day CETA entered into force, Indian exporters flooded the UK market with over 50 initial consignments—ranging from smartphones and turbojets to gold jewellery, readymade garments, and regional specialties like Assam’s Joha rice.
- Reciprocal Wins: UK exporters quickly capitalised on the agreement as well. Within a fortnight, the first tariff-free Scottish salmon reached India, accompanied by reduced-tariff Scotch whisky and initial car imports cleared under tariff-rate quotas.
- Regional Engagement: The 16th JETCO featured strong regional representation, highlighted by a delegation of seven mayors and a combined authority leader from the North of England, alongside parallel visits by the UK’s Secretaries of State for Scotland and for Environment, Food and Rural Affairs.
- Streamlined Implementation: To ensure long-term ease of doing business, both nations agreed to establish formal committees, set up cross-border government contact points, and conduct annual data exchanges tracking tariff utilization and business feedback.
- Looking Ahead: Building on the success of the Science and Innovation Council and active industry roundtables, both nations committed to expanding cooperation in services, innovation, and green technology.
The ministers agreed that the 17th JETCO meeting will be hosted in the United Kingdom in 2027 to maintain the current bilateral trade momentum.