UK PM Starmer lands with ‘largest ever trade mission’ in India; trade ministers discuss FTA implementation

Commerce Minister Piyush Goyal and the UK’s Trade Minister Peter Kyle held bilateral meetings to oversee the implementation of the trade deal, the Ministry of Commerce and Industry said.

“The meeting marked a significant step towards operationalising the India–UK Comprehensive Economic and Trade Agreement (CETA), with both ministers agreeing to reposition the Joint Economic and Trade Committee (JETCO) to oversee its implementation and delivery. Both sides underlined their commitment to ensuring swift, coordinated, and results-oriented implementation of the agreement, aimed at realising its full potential for businesses and consumers in both countries,” the Ministry said.

“We signed a major trade deal with India in July – the best secured by any country – but the story doesn’t stop there. It’s not just a piece of paper, it’s a launchpad for growth. With India set to be the third biggest economy in the world by 2028, and trade with them about to become quicker and cheaper, the opportunities waiting to be seized are unparalleled,” Starmer said as per a statement.

The Indian Commerce Ministry said that the India–UK CEO Forum was also held, bringing together business leaders from both countries to discuss new opportunities for trade, investment, and innovation. The discussions reaffirmed the shared commitment of India and the UK to advancing a modern, mutually beneficial, and sustainable economic partnership, strengthened by the India–UK CETA, a ministry said.

India is set to benefit from tariff elimination on approximately 99 per cent of tariff lines, covering nearly 100 per cent of trade value, as per the deal. A British government statement said that the India–UK deal is the “best agreement ever secured by any country with India” and that the deal is set to increase UK GDP by £4.8 billion each year. The deal is expected to raise bilateral trade by £25.5 billion per year, with UK exports to India projected to grow by nearly 60 per cent. Whisky producers have particularly benefited from tariffs being reduced immediately from 150 per cent to 75 per cent, and then dropped even further to 40 per cent over the next ten years – giving the UK an advantage over international competitors in accessing the Indian market, the UK government said.

India’s Commerce Ministry said that both ministers exchanged views on the global trade and economic outlook, acknowledging the importance of building resilient and diversified supply chains amid ongoing global uncertainties. Business and Trade Secretary Peter Kyle said: “We’ve shown there is no limit to our ambition to grow trade with India – in less than a year, we’ve gone from restarting talks on a deal to bringing 125 brilliant business leaders to its commercial capital”.