UK and India announce 1.32 billion dollars in trade deals at New Delhi summit

The United Kingdom and India announced more than $1.32 billion (12,500 crore rupees) in new commercial deals on 12 October 2026 at the 16th Joint Economic and Trade Committee meeting in New Delhi.

The summit was co-chaired by UK Secretary of State for Business Jonathan Reynolds and Indian Commerce Minister Piyush Goyal. The commercial agreements cover aviation services, technology, healthcare, advanced communications, and engineering, according to government statements.

Among the planned investments, Meta for Data Technologies will expand its technology research activities in the UK. The summit coincided with the arrival of a UK trade delegation featuring over 100 businesses alongside regional leaders from Northern England, including seven mayors and a combined authority leader.

The announcements follow the entry into force of the India-UK Comprehensive Economic and Trade Agreement on 15 July 2026, following negotiations that began in January 2022. Parallel visits during the event were conducted by the UK Secretary of State for Scotland and the UK Secretary of State for Environment, Food and Rural Affairs.

On the day the agreement took effect, Indian exporters submitted initial Certificates of Origin through India's eCoO 2.0 platform using a self-certification process. Exporters sent more than 50 consignments to the UK on that day, including smartphones, turbojets, electrical machinery, gold jewellery, garments, woollen yarn, tea, coffee, and Joha rice from Assam.

Under the reduced tariff structure, the first tariff-free Scottish salmon reached India within 14 days, with several thousand kilograms exported since. Scotch whisky also entered the Indian market under lowered duties, while the first vehicles imported under tariff-rate quotas cleared Indian customs.

Indian Commerce Minister Piyush Goyal said the two countries are targeting a doubling of bilateral trade by 2030. The agreement targets opportunities across clean energy, advanced manufacturing, technology, financial services, and healthcare.

To evaluate commercial adoption, both governments agreed to establish annual data-exchange mechanisms starting one year after the trade deal's implementation. These exchanges will allow officials to track business usage and tariff claims under the agreement.