India and UK Aim to Double Bilateral Trade to $120 Billion by 2030
12 Oct 2026Updated 1 hr ago1 source
India and the United Kingdom are aiming to double their bilateral trade to 120 billion dollars by 2030 under a proposed Free Trade Agreement. Commerce Minister Piyush Goyal and Minister of State Jitin Prasada met with a visiting delegation of UK mayors at Bharat Mandapam to discuss trade relations.
NIKAN Intelligence
What happened
India and the UK are working to double their bilateral trade to $120 billion by 2030 under a Free Trade Agreement. Commerce Minister Piyush Goyal and Minister of State for Commerce Jitin Prasada met with a delegation of visiting UK mayors at Bharat Mandapam to discuss trade opportunities.
Why it matters
The successful implementation of an FTA would significantly bolster trade, ease business regulations, and create new economic avenues for both countries, particularly in key sectors like manufacturing, services, and technology.
What we know
- The goal is to reach $120 billion in bilateral trade by 2030.
- The trade expansion is planned under a Free Trade Agreement (FTA).
- Indian ministers Goyal and Jitin Prasada hosted UK mayors at Bharat Mandapam.
What we don't know
- The exact date for the finalization and signing of the FTA.
- Specific tariff concessions or policy changes that are still under negotiation.
What's next
Continued bilateral negotiations between Indian and UK trade representatives to resolve remaining issues in the FTA draft.
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