India-UK Trade May Rise By £25.5 Billion Annually Under CETA: UK Official

Mumbai, Oct 14 (KNN) Bilateral trade between the United Kingdom and India is projected to increase by 25.5 billion pounds annually in the long run from the current baseline of 48 billion pounds following the implementation of the Comprehensive Economic and Trade Agreement (CETA), UK Deputy Trade Commissioner for South Asia Jaya Choraria said on Tuesday.

Speaking at the CETA Marketplace event in Mumbai, Choraria said the agreement would make trade cheaper, quicker and easier, creating opportunities for businesses in both countries.

CETA Expected To Boost India-UK Bilateral Trade

The event brought together British companies showcasing their products and services with Indian businesses and buyers to explore trade and investment opportunities.

Choraria also identified green energy as a key area for bilateral cooperation under the trade framework, reported ANI.

UK Brings 200 Businesses To India To Explore Opportunities

Earlier, UK Trade Commissioner Harjinder Kang said the UK had brought around 200 businesses to India to promote opportunities under CETA, which came into force on July 15.

Describing the initiative as the first business activation under the agreement, Kang said the delegation included three secretaries of state, seven regional mayors and a local authority chair.

AI, Medical Devices And Automobiles Among Key Sectors

The UK is showcasing sectors such as artificial intelligence, medical devices, food and beverages, and automobiles, which could benefit from the agreement. British brands, including Aston Martin, Bentley and Range Rover, were also present at the event.

Kang said the visit aimed to encourage businesses to leverage the agreement and strengthen commercial cooperation between the two countries.

(KNN Bureau)