New Delhi [India], October 9 (ANI): India and the United Kingdom have taken a major step to boost economic ties with the signing of the Terms of Reference to reposition the Joint Economic and Trade Committee (JETCO). The move aims to provide a stronger framework for trade cooperation and to push forward the implementation of the India-UK Comprehensive Economic and Trade Agreement (CETA) signed in July 2025.

CETA provides an unprecedented duty-free access to 99 per cent of India's exports to the UK, covering nearly 100% 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.

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.'

The development comes after Goyal met UK Secretary of State for Business and Trade, Peter Kyle, earlier on Wednesday, 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 to oversee the implementation of CETA and to ensure timely outcomes.

Minister Piyush Goyal has also posted on 'X', '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.'

Goyal also met United Kingdom Prime Minister Keir Starmer and discussed ways to deepen trade and economic cooperation between the two nations. Sharing details of the meeting on X, Goyal wrote, 'Delighted to call on UK Prime Minister @KeirStarmer. Discussed avenues to further deepen India-UK trade & economic partnership for mutual prosperity.'

The terms of reference JETCO is another step forward towards the ongoing efforts to operationalize the India-UK Comprehensive Economic and Trade Agreement (CETA), which both sides see as a key step for strengthening bilateral ties. (ANI)