IAS प्रिलिम्स ऑनलाइन कोर्स (Pendrive)
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International Relations

Joint Economic Trade Committee

  • 13 Jul 2019
  • 2 min read

The Union Minister of Commerce & Industry will address India–UK Joint Economic Trade Committee (JETCO) meeting in London.

  • The key issues that will be addressed at JETCO process include:
    • Future of the UK-India Financial Services Relationship.
    • Opportunities in India’s growing economy.
    • Innovation in financial services (FinTech).
    • Investing in stressed assets.
    • Opportunities in green infrastructure financing.
    • Investing in innovation (private equity/venture capital) and the future of insurance.

Joint Economic Trade Committee 

  • JETCO provides a forum to United Kingdom companies to enhance their links and develop new partnerships with India business and decision-makers.
  • Government to Government negotiations, which address issues of market liberalization and market access, are conducted through the JETCO process.
  • The UK India Business Council plays a key role in feeding the views of the UK business community into JETCO process with a view to achieving favorable outcomes for UK companies.
  • One of the key objectives of the JETCO process is to unveil opportunities for London’s most prominent institutional investors to invest in India.

India-UK Trade

  • UK is the third largest FDI investor in India and is among India’s main trading partners.
  • Trade totaled Euro 13.6 billion in 2018. Moreover, trade between India and UK increased at an average rate of 8.8% per year between 2002 and 2018.
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