India, UK to reposition JETCO to boost potential of trade pact

Union commerce and industry minister Piyush Goyal and UK secretary of state for business and trade Peter Kyle on Wednesday decided to reposition the existing institutional mechanism, the India-UK Joint Economic and Trade Committee (JETCO) to realise the full potential of recently signed India-UK free trade agreement that aims to double bilateral trade by 2030.

- Rajeev Jayaswal

The decision was taken after two ministers held a bilateral meeting in Mumbai on Wednesday to chart a renewed course for the India-UK trade and investment partnership, a government statement said. The two countries signed a free trade deal in July.

'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," the statement added.