New Delhi, 12 October 2026: Tribhuvan Darbari, Chairman of the BIMSTEC Business Council Secretariat, Republic of India, Managing Director & CEO of Texmaco Defence Systems Private Limited and Chief Executive of Texmaco Rail & Engineering Limited, Adventz Group, represented the Associated Chambers of Commerce and Industry of India (ASSOCHAM) at the India–UK Joint Economic and Trade Committee (JETCO) Business Plenary held at Bharat Mandapam, New Delhi and addressed the August gathering, in the gracious presence of the Hon’ble Minister for Commerce & Industries Shri Piyush Goyal Ji, The Rt Hon Jonathan Reynolds MP United Kingdom’s Secretary of State for Business, Innovation, Science and Trade and President of the Board of Trade, Hon’ble Minister of State for Commerce & Industries Shri Jitin Prasada Ji, Rt. Hon. Douglas Alexander MP, Secretary of State for Scotland, along with other distinguished Dignitaries, Diplomats & Industry leaders from India & UK.

Addressing the gathering, Darbari emphasized that CETA represents the beginning of a deeper economic partnership rather than an end in itself. Recalling Shri Piyush Goyal Ji’s description of the agreement as “a milestone in the trade relations between two major economies, setting an ambitious and balanced framework,” he called for sustained implementation, regulatory cooperation, reduced non-tariff barriers and stronger integration of Indian and British supply chains.

Signed in July 2025 and effective from 15 July 2026, CETA provides zero-duty access for nearly 99% of India’s exports to the United Kingdom. Early implementation has already produced tangible results. On the day the agreement entered into force, more than 50 Indian export consignments, worth over US$140 million, were flagged off under the preferential tariff regime. These included engineering goods, electronics, textiles, jewellery, tea and coffee. The first tariff-free Scottish salmon consignments reached India within a fortnight, while Scotch whisky entered the Indian market under reduced tariffs and the first cars under the agreed tariff-rate quota cleared customs. Bilateral trade between the two countries stood at approximately £48 billion in 2025, and it is expected to surpass £75.5 billion by 2030, with both governments committed to expanding the partnership further.

Darbari highlighted the importance of ensuring that MSMEs and startups benefit alongside major corporations. Representing ASSOCHAM, which brings together more than 4.5 lakh industry members through over 400 associations, federations and regional chambers. He stressed on the fact that MSME’s have become the core of the economy and have strong potential to create jobs & contribute to a robust GDP. Smaller enterprises must receive practical support in identifying partners, accessing markets, meeting regulatory requirements and entering global value chains. He advocated focused business-to-business matchmaking, sector-specific delegations and stronger pathways for startups to progress from research and innovation to co-development and commercialization, to be accomplished by ASSOCHAM, under the sagacious guidance of the Ministry of Commerce & Industry, Govt. of India.

On Science and Technology, Darbari called for closer industry–academia collaboration in artificial intelligence, semiconductors, advanced telecommunications, critical minerals, biotechnology and clean energy. He underscored the role of the UK Science and Innovation Network in India and collaborative research platforms in connecting universities, businesses and policymakers to accelerate the development and commercialization of new technologies. He also mentioned about how Adventz Group (Saroj Poddar Group) took a lead in facilitating Indo-UK collaboration way back in 1995, by setting up a JV between Simon Carves of the United Kingdom and Zuari Industries Limited.

The 16th JETCO concluded with both governments reaffirming their commitment to maximising CETA’s benefits, strengthening business engagement and advancing science, technology and regional partnerships & the trade is expected to surpass £75.5 billion by 2030. The 17th JETCO meeting is scheduled to take place in the United Kingdom in 2027.