India-UK bilateral trade to double by 2030, says PM Narendra Modi

Prime Minister Narendra Modi on Thursday said India’s bilateral trade with the United Kingdom, currently valued at $56 billion, is expected to double by 2030.

 

He was speaking at a forum attended by top CEOs from both countries and UK Prime Minister Keir Starmer.

 

Modi said that the India-UK free trade pact is expected to strengthen micro, small and medium enterprises (MSMEs) in India, thereby creating opportunities for youth employment.

 

He highlighted opportunities for collaboration in areas such as artificial intelligence (AI), telecom, biotechnology, quantum technologies, semiconductors, cyber, and space.

 

He also emphasised the need for a structured approach in strategic sectors, including critical minerals, rare earth metals, and active pharmaceutical ingredients (APIs).

 

 

“Our international trade is worth $56 billion. By 2030, we intend to double this. I am confident that we can achieve this goal before time. There is policy stability, predictable regulations, and large-scale demand in India,” Modi said. 

 

India and the UK had in July 2025 signed the Comprehensive Economic and Trade Agreement (CETA).

 

Within the three months of signing the pact, Starmer said the country had seen a £ 6 billion (pounds) boost in trade and investment.

 

“We build on a solid foundation because billions already flow in trade and investment between our two countries, supporting thousands of jobs in both of our countries. And the trade deal, in a sense, is the chance to take that to the next stage,” he explained.

 

He called for the industry to provide feedback on any barriers that required to be taken down.

 

“We want to provide a direct channel for you, tell us what we need to do to go further and faster to deliver the most from this deal… You need to tell us what we need to do, how things are working, where there are still barriers that need to be taken down, and what more we can do to capitalise on the opportunities,” he told CEOs.