Moves by the North of England to unlock India trade, Pg6

Key Highlights:

• Leaders from the North of England, including mayors, businesses, and universities, visited India under "The Great North" banner to strengthen trade, investment, innovation, culture, and visitor economy ties.
• This visit follows the signing of the India-United Kingdom Comprehensive Economic and Trade Agreement (CETA), shifting focus from agreement to action.
• Indian companies have invested over £1 billion in the Northwest of England, supporting more than 6,700 jobs.
• Bilateral trade between India and the U.K. reached £47.4 billion in 2025, marking an 11.7% increase from the previous year.
• The U.K.-India CETA Business Utilisation Manual — A Practical Activation Guide for Indian and UK Businesses was launched to help businesses leverage the agreement.

Detailed Insights:

• The delegation of nearly 200 members aimed to showcase the North’s economic assets and create new opportunities for collaboration.
• The UK India Business Council (UKIBC) served as a mission partner, helping U.K. businesses understand India as a strategic partner for R&D, technology, talent, and supply chains.
• The CETA is viewed as a foundational agreement, with U.K. Foreign Secretary David Lammy describing it as "the floor, not the ceiling" of the bilateral relationship.
• The number of Indian-owned companies in the U.K. increased by nearly 60% this year, with combined revenues exceeding £105 billion, according to Grant Thornton UK's India Meets Britain Tracker.
• Growth in bilateral trade is concentrated in advanced manufacturing, clean energy, and technology sectors.
• A UKIBC report emphasizes regional collaboration, mapping sector-specific growth pathways in Indian states like Maharashtra, Gujarat, Karnataka, and Tamil Nadu.

Key Concepts Involved:

• Comprehensive Economic and Trade Agreement (CETA): A broad agreement between two countries to reduce trade barriers and enhance economic cooperation across various sectors.
• Bilateral Trade: The exchange of goods and services between two specific countries, reflecting their economic relationship.
• Rules of Origin: Specific criteria used to determine the national source of a product, crucial for applying tariff preferences under trade agreements.