UK Prime Minister Keir Starmer and Indian Prime Minister Narendra Modi recently celebrated the completion of a historic Free Trade Agreement between their two countries. The multi-billion-pound trade deal, which locks in reductions on 90% of tariff lines, is expected to boost the British economy by 4.8 billion pounds annually by 2040.
During a telephonic conversation, Prime Minister Modi congratulated Prime Minister Starmer on this significant achievement, praising his vision and leadership. The two leaders agreed that the trade deal would strengthen the strategic partnership between the UK and India.
In a statement, Prime Minister Starmer highlighted the importance of the trade agreement with India, emphasizing its potential to grow the economy and benefit British people and businesses. Meanwhile, Prime Minister Modi expressed his satisfaction with the successful conclusion of the Free Trade Agreement, noting its potential to catalyze trade, investment, growth, job creation, and innovation in both economies.
The trade deal, which was finalized after three years of negotiations, will provide comprehensive market access for Indian goods across all sectors. India is set to benefit from tariff elimination on about 99% of tariff lines, covering almost 100% of trade values. This landmark agreement marks a new chapter in the Comprehensive Strategic Partnership between India and the UK, paving the way for increased collaboration and mutual prosperity.
