India and UK Target to Double Bilateral Trade by 2030
UK India Business Council CEO Kishore Jayaraman outlines the roadmap to double trade to $84 billion through CETA implementation and regional partnerships.
India and the United Kingdom have set an ambitious economic milestone, aiming to double their bilateral trade within the next few years. According to Kishore Jayaraman, Group CEO of the UK India Business Council (UKIBC), the primary driver for this massive growth will be the effective execution of the Comprehensive Economic and Trade Agreement (CETA).
Currently, bilateral trade between the two nations stands at approximately USD 42 billion, maintaining a steady annual growth rate of around 8 per cent. To reach the 2030 target, the momentum established during negotiations must now be translated into rapid, real-world implementation.
The Role of CETA and Implementation Speed
The CETA agreement, which was signed in April 2025 and officially came into force on July 15, 2026, is seen as the cornerstone of this economic expansion. Jayaraman emphasized that the energy and speed seen during the negotiation phase must be mirrored during the implementation phase to ensure the trade targets are met.
The UKIBC is actively working to support this transition, helping businesses navigate the new landscape created by the agreement. Jayaraman noted that stakeholders must quickly identify which processes need to be adopted or adapted to facilitate a smoother and faster rollout of the trade benefits.
Expanding Beyond National Borders to Regional Growth
A unique aspect of this economic push is the focus on sub-national cooperation. Jayaraman highlighted that achieving the 2030 goal requires more than just central government action; it demands active participation from individual Indian states and various UK regions.
As a practical example, a delegation of mayors from Northern England recently visited India to explore specific opportunities for expanding trade, investment, and talent flows. This regional involvement is expected to unlock new layers of economic engagement that traditional diplomacy might overlook.
Key Sectors for Future Collaboration
The roadmap to doubling trade identifies several high-growth sectors where the strengths of India and the UK are highly complementary. To accelerate growth, the focus will shift toward specialized industries, including:
- Technology and Digital Services: Leveraging digital innovation and software expertise.
- Aerospace and Defence: Strengthening industrial ties in high-tech manufacturing.
- Healthcare and Life Sciences: Collaborating on medical research and pharmaceutical advancements.
- Advanced Manufacturing and Engineering: Driving industrial efficiency and production.
- Energy and Infrastructure: Focusing on hydrogen and sustainable energy solutions.
- Education: Expanding university partnerships and academic exchange.
- Creative Services: Tapping into the growing influence of the cultural and media sectors.
By fostering closer cooperation in these areas and maintaining a shared vision, both nations aim to transform their economic relationship into a powerhouse of global trade by the end of the decade.