{
  "id": 13976456,
  "title": "India, UK aim to double bilateral trade to $120 billion by 2030 under FTA",
  "url": "https://urgent.news/2026/10/12/india-uk-aim-to-double-bilateral-trade-to-120-billion-by-2030-under",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-12T14:04:28.000Z",
  "source": {
    "name": "Hindustan Times",
    "slug": "hindustan-times",
    "url": "https://www.hindustantimes.com/india-news/india-uk-aim-to-double-bilateral-trade-to-120-billion-by-2030-under-fta-101791813868825.html"
  },
  "original_language": "en",
  "account": "India and the United Kingdom have set an ambitious goal to double bilateral trade between the two nations to $120 billion by 2030, under the aegis of the recently implemented free trade agreement. Commerce and Industry Minister Piyush Goyal, speaking at the business plenary of the Joint Economic and Trade Committee (JETCO), emphasized that this target should not merely mark the end of the decade but rather be the launchpad for even greater economic ambitions. Data released by the government suggests that the target is to increase overall bilateral trade from the current $60 billion to $120 billion, incorporating both goods and services. As of 2024, the bilateral trade stood at approximately $60.56 billion, with $25.12 billion in two-way goods trade and $35.44 billion in bilateral services trade. The UK government reported that in the 12 months leading up to March 2026, the total trade between the two countries amounted to £48 billion, marking a £3 billion increase year-on-year. Following 14 rounds of negotiations, the two nations formally signed the India-UK Comprehensive Economic and Trade Agreement (CETA) on July 24, 2025, complemented by the Double Contribution Convention (DCC) on social security. During the 16th meeting of the JETCO in New Delhi, jointly chaired by Goyal and UK Secretary of State for Business and Trade Jonathan Reynolds, both ministers underscored the significance of effectively leveraging the CETA to overcome trade barriers and bolster business-to-business engagement. They reaffirmed their dedication to deepening India-UK economic cooperation through sustained engagement, stronger institutional mechanisms, and enhanced collaboration. Goyal and his counterpart, Jitin Prasada, also engaged with a UK business delegation of mayors, exploring avenues for deepening regional partnerships in trade, investment, and innovation. The JETCO's importance was amplified by the concurrent visit of seven mayors and an authority leader from Northern England, complemented by parallel visits by UK Secretaries of State for Scotland and for Environment, Food and Rural Affairs. The next JETCO is slated to take place in the UK in 2027.",
  "summary": "Goyal and minister of state for commerce Jitin Prasada also met a business delegation of visiting UK mayors at Bharat Mandapam",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}