Prime Minister Narendra Modi is visiting the UK for two days. During this, he met with British PM Keir Starmer in London where they signed a Free Trade Agreement (FTA) during bilateral talks. The aim is to boost the comprehensive strategic partnership between India and the UK.
Addressing the press, PM expressed gratitude for Starmer's warm welcome and praised the historic FTA signed during their discussions. This will be beneficial for consumers as it will lower the prices of textiles and footwear. Furthermore, it opens new doorways for Indian seafood in the UK market. This agreement is advantageous for all classes in India. It will benefit the UK economy and increase Indian investment. These deals will also strengthen global stability, making UK products more affordable.
'Crafting a New Chapter in Education: India and UK'
In education, a new chapter is being written collaboratively by the two countries. Six UK universities are setting up campuses in India, with a recent opening in Gurugram. We appreciate Starmer's condemnation of the recent Pahalgam terrorist attack. We share views on conflicts, such as the Russia-Ukraine situation and the Middle East. Today's era favors progressive development over expansionist strategies.
The PM mentioned that due to this agreement, Indian textiles, footwear, gems, jewelry, seafood, and engineering goods will find better markets in the UK. Opportunities in the UK's agri-produce and processed food industry will also arise. To accelerate our comprehensive strategic partnership over the next decade, we will discuss Vision 2035, which maps out a robust, reliable, and ambitious partnership across technology, defense, climate, education, and people-to-people connections.
In a joint statement, the PM expressed gratitude towards Starmer and his government for their firm condemnation of the Pahalgam terrorist incident. We agree that there shouldn't be double standards in the fight against terrorism. We also concur that extremist ideologies should not be allowed to abuse democratic freedoms.
During this time, PM Modi paid his respect to those lost in the Ahmedabad plane crash. We continue to share thoughts on peace and stability in the Indo-Pacific, the ongoing conflict in Ukraine, and the situation in the Middle East. It's imperative to respect the sovereignty and territorial integrity of all nations. The era today calls for progress, not expansion.
Speaking on cricket, PM mentioned that cricket is more than just a sport to us; it's a sentiment.
The visit is deemed significant for the India-UK Free Trade Agreement (FTA). PM Modi will meet King Charles III. During this, PM Modi and Starmer will discuss bilateral relations.
Following the FTA, British Prime Minister Keir Starmer stated that this historic agreement with India means jobs, investment, and growth for the UK. It will create thousands of jobs and offer new business opportunities, putting money into the pockets of working people, marking a major shift in our work policy.
Earlier, he noted that the historic Free Trade Agreement they are about to sign with Prime Minister Narendra Modi will be a major victory for jobs and economic growth. The tariff cuts under this agreement will make clothing, footwear, and food products cheaper.
What is an FTA?
An FTA is an agreement facilitating trade between two countries. Under this, both countries agree to reduce or eliminate import duties, tariffs, or taxes on each other's products. Discussions about an FTA between India and the UK have been ongoing for three years.
This deal will allow the export of leather, footwear, and textiles at reduced rates, while imports of whisky and cars from the UK will become cheaper. The FTA was approved by the Modi cabinet on Wednesday. After the signatures, it will need approval from the British Parliament before it comes into effect.
