India and the UK have identified five priority sectors, including clean energy, advanced manufacturing and financial services, as they seek to double bilateral trade by 2030 under the new trade pact.
Commerce and Industry Minister Piyush Goyal has set out five priority areas for India and the United Kingdom as the two countries look to turn their new trade pact into a wider economic partnership, with services, advanced manufacturing, clean energy and financial services among the main areas singled out for closer co-operation.
At a meeting of the India-UK Joint Economic and Trade Committee, Goyal said both sides were aiming to double bilateral trade by 2030, framing the target as part of a longer-term push under the India-UK Vision 2035. That broader roadmap is intended to extend beyond tariff cuts and market access, and towards investment, technology exchange and deeper commercial links across multiple sectors.
According to Goyal, services will be central to the agreement, while British firms could find opportunities in supplying India with medicines, petroleum products, motor cars and Scotch whisky. He also pointed to the scope for Indian and British companies to invest in each other’s markets, suggesting that capital flows may become as important as trade in goods.
The five sectors identified for expanded co-operation are infrastructure and clean energy, advanced manufacturing, research and innovation, financial services, and healthcare and consumer industries. Within financial services, the focus is on links between London and Gujarat International Finance Tec-City, or GIFT City, especially in fintech, insurance, cross-border payments and trade finance. In healthcare and consumer goods, the two sides are looking at pharmaceuticals, diagnostics, food processing and other consumer products.
The timing matters because the India-UK Comprehensive Economic and Trade Agreement entered into force on 15 July 2026, giving the two governments a formal framework to widen market access and support trade. The agreement is being presented by both sides as part of a larger strategic relationship, with clean energy, research and technology alongside commerce as pillars of the next phase of engagement.
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