India, UK Sign Trade Pact, PM Modi Says It Will Deepen Strategic Partnership
PM Modi, who is in the country amid tensions with Pakistan following the terrorist attack in Pahalgam, spoke to his UK counterpart Sir Keir Starmer over the telephone and invited him to come to India.
India and the UK have signed the long-awaited Free Trade Agreement and the Double Contribution Convention, Prime Minister Narendra Modi has announced. Calling it a “historic milestone”, PM Modi, in a post on social media platform X, said it would “further deepen our comprehensive strategic partnership and catalyse trade, investment, growth, job creation, and innovation in both our economies”.
PM Modi, who is in the country amid tensions with Pakistan following the terrorist attack in Pahalgam, spoke to his UK counterpart Sir Keir Starmer over the telephone and invited him to visit India.
PM Starmer has said that strengthening links with economies around the world and reducing trade barriers is part of his plan for transformation to deliver a stronger and more secure economy, the government said in a statement.
“The conclusion of a balanced, fair and ambitious FTA, which covers trade in goods and services, is expected to significantly increase bilateral trade,
“To create new avenues for employment, raise living standards and improve the overall well-being of citizens in both countries,” the statement said.
It will also open up new possibilities for both countries to jointly develop products and services for global markets.
The two nations have been working towards a free trade agreement since the tenure of former Prime Minister Boris Johnson.
But the process took time as officials worked to resolve several contentious issues, including visa issues for Indians, tariffs on UK exports such as cars and Scotch whisky.
