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In a major step towards boosting economic ties, India and the United Kingdom on Thursday signed the Terms of Reference to reposition the Joint Economic and Trade Committee (JETCO).

The move is aimed at the establishment of a solid framework for the trade rapport and to hasten the implementation of the India-UK Comprehensive Economic and Trade Agreement (CETA), which was signed in July 2025.

CETA provides unprecedented duty-free access to 99 per cent of India’s exports to the UK, covering nearly 100 per cent of the trade value. This includes labour-intensive sectors such as textiles, leather, marine products, gems and jewellery, and toys, as well as high-growth sectors like engineering goods, chemicals, and auto components.

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Also Read: PM Modi hails India-UK partnership as driven by ‘trustworthiness, talent, and technology’ 

Union Minister of Commerce and Industry Piyush Goyal shared the development on X, saying, "India-UK economic partnership enters a new phase! Thrilled to announce the signing of the Terms of Reference to reposition the Joint Economic and Trade Committee (JETCO). This institutional reset is a game-changer, strengthening our framework for strategic engagement, driving the implementation of the India-UK CETA, and boosting our joint ambition to significantly enhance our bilateral trade."India-UK economic partnership enters a new phase!

Thrilled to announce the signing of the Terms of Reference to reposition the Joint Economic and Trade Committee (JETCO).

This institutional reset is a game-changer, strengthening our framework for strategic engagement,… pic.twitter.com/6f4zZTr9Cq

— Piyush Goyal (@PiyushGoyal) October 9, 2025

The announcement came after Goyal met UK Secretary of State for Business and Trade, Peter Kyle, for detailed talks on advancing trade and investment cooperation. 

According to a release from the Ministry of Commerce and Industry, both sides discussed repositioning JETCO to serve as the main body overseeing the implementation of CETA and ensuring timely outcomes.

Minister Goyal also posted, "Addressed the India-UK Business Plenary Session along with @PeterKyle, UK Secretary of State for Business and Trade. With both sides focused on early operationalisation of the India-UK trade agreement, encouraged businesses to share feedback on ways to strengthen our partnership, ensuring that trade, investment, and economic cooperation between India and the UK continue to flourish."

"Delighted to call on UK Prime Minister @KeirStarmer. Discussed avenues to further deepen India-UK trade & economic partnership for mutual prosperity", Goyal wrote.

Also Read: India, UK agree to fast-track new trade pact under CETA, aim to double trade by 2030 

The Terms of Reference for JETCO is another step toward operationalising the India-UK CETA, seen by both countries as a key measure to strengthen bilateral ties. JETCO provides a forum for UK companies to enhance their links and develop new partnerships with Indian businesses and decision-makers. The UK India Business Council works closely with UK Trade and Investment to support UK companies’ aspirations in India.

Goyal reiterated on X, “India-UK economic partnership enters a new phase! Thrilled to announce the signing of the Terms of Reference to reposition the Joint Economic and Trade Committee (JETCO).” He further added, “This institutional reset is a game-changer, strengthening our framework for strategic engagement, driving the implementation of the India-UK CETA, and boosting our joint ambition to significantly enhance our bilateral trade.”

Both sides emphasised swift, coordinated, and results-oriented implementation of the agreement to realise its full potential for businesses and consumers. The ministers reaffirmed their ambition to double bilateral trade by 2030, leveraging complementarities in areas such as advanced manufacturing, digital trade, clean energy, and services.

Starmer also described the India-UK trade partnership as “really important” and noting that the partnership is well-positioned to achieve the ambitious India-UK Vision 2035 roadmap. Both countries are taking steps to elevate bilateral ties over the coming decade.

In a related development, the India–UK Connectivity and Innovation Centre was established with a focus on 6G, non-terrestrial networks, and cybersecurity. The first phase sees a joint investment of £24 million and includes the launch of the India–UK Joint Centre for AI, conducting research in health, climate, fintech, and engineering biology.

The initiative also involves forming a Critical Minerals Processing and Downstream Collaboration Guild to strengthen supply chains and boost investment, launching the second phase of the Critical Minerals Supply Chain Observatory, and establishing a new satellite campus at IIT-ISM Dhanbad.

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