India and UK Seal Historic Free Trade Agreement

In a landmark move that strengthens bilateral ties, India and the United Kingdom have successfully concluded a Free Trade Agreement (FTA) alongside a Double Contribution Convention. This significant milestone was announced by Prime Minister Narendra Modi after a discussion with UK Prime Minister Keir Starmer.

PM Modi hailed the agreement as "ambitious and mutually beneficial," emphasizing its potential to deepen the Comprehensive Strategic Partnership between the two nations and spur growth across various sectors. "These landmark agreements will further catalyze trade, investment, growth, job creation, and innovation in both our economies," Modi stated.

Boosting Bilateral Trade and Investment

The FTA is expected to substantially increase bilateral trade, create employment opportunities, and improve living standards in both countries. It aims to reduce or eliminate customs duties on various products and facilitate services trade and investment regulations.

India looks forward to enhanced opportunities for its professionals in the UK's IT and healthcare sectors, while the UK seeks reduced tariffs for its exports, including scotch whisky and electric vehicles, and a stronger presence in India's services sector.

A Framework for Enhanced Cooperation

The agreement is seen as a cornerstone of the India-UK partnership, setting a framework for enhanced cooperation and economic growth. Both leaders expressed optimism about the future of their nations' relationship, with PM Modi extending an invitation to PM Starmer to visit India soon.