India and the UK marked the early achievements of their Comprehensive Economic and Trade Agreement (CETA) during the 16th Joint Economic and Trade Committee (JETCO) meeting held in New Delhi today. The meeting, co-chaired by India's Minister of Commerce and Industry, Shri Piyush Ved Prakash Goyal, and the UK's Secretary of State for Business, Innovation, Science and Trade, Rt Hon Jonathan Reynolds MP, highlighted the agreement's initial impact on businesses.
Since CETA entered into force, Indian exporters have sent over 50 consignments to the UK, including smartphones, turbojets, gold jewellery, and Joha rice from Assam. Similarly, Scottish salmon and Scotch whisky have entered the Indian market under reduced tariffs, with the first tariff-free Scottish salmon reaching India within a fortnight of the agreement's implementation. Cars exported under the tariff-rate quota have also cleared customs in India.
Both nations agreed to an annual exchange of data, starting one year after CETA's entry into force, to monitor how businesses are utilising the agreement and to identify areas for further support, particularly for small and medium-sized enterprises. They also committed to establishing CETA's committees and working groups to ensure its continued smooth operation. The next JETCO meeting is planned for 2027 in the United Kingdom.