India and UK set sights on doubling trade to $120 billion by 2030

India and the United Kingdom have set an ambitious goal to double their bilateral trade to $120 billion by 2030, marking a significant expansion of economic ties between the two nations. The target underscores renewed momentum in trade negotiations as both countries work toward finalising a comprehensive free trade agreement.

Commerce Minister Piyush Goyal and Minister of State for Commerce Jitin Prasada held discussions with visiting UK mayors and business representatives at Bharat Mandapam in New Delhi, signalling high-level political commitment to deepening commercial engagement. The meetings brought together key stakeholders from both nations to explore opportunities for expanding trade and investment across multiple sectors.

The proposed free trade agreement is expected to form the cornerstone of enhanced bilateral economic cooperation. Both sides have identified mutual benefits in areas ranging from manufacturing and services to technology and sustainable development, with the 2030 trade target reflecting confidence in the pact's potential impact.

The engagement with UK business delegations demonstrates India's focus on building stronger connections with British enterprises and local government bodies. These interactions are designed to facilitate greater understanding of investment opportunities and remove barriers to trade between the two Commonwealth nations.