PM Modi, Starmer highlight 'new vigour in India-UK partnership' after FTA

UK PM Keir Starmer said the new India-UK trade deal would lower import costs of the two countries, boost trade, create youth employment, and benefit industries and consumers

Prime Minister Narendra Modi and UK Prime Minister Keir Starmer met for a delegation-level discussion in Mumbai on Thursday.

  Highlighting the progress in bilateral relations, PM Modi said, “Under the leadership of PM Starmer, India and UK relations have seen significant progress. In July this year, during my visit to the UK, we signed the historic Comprehensive Economic and Trade Agreement [CETA].” 

Speaking on recent business engagements, PM Modi said, “The biggest business leaders’ summit between India and the UK was held yesterday. Today, we will address the India-UK CEO Forum and Global Fintech Festival. With all of these, suggestions and possibilities to further strengthen India-UK cooperation.” 

 

He also emphasised the benefits of the new trade deal, adding, “With this agreement, the import cost between the two countries will come down, new employment opportunities will be generated for the youth, trade will increase and this will benefit our industries and consumers. Your visit to India within just a few months of signing the agreement, with the biggest business delegation ever accompanying you, is a symbol of the new vigour in India-UK partnership.”

 

Shared values, global stability

PM Modi highlighted the foundation of India-UK relations, saying, “India and UK are natural partners. Mutual trust in values like democracy, freedom and the rule of law lies in the foundation of our relations. In the current era of global instability, this growing partnership between India and the UK has been an important base for global stability and economic progress.” 

He further said that the meeting also focused on international issues, including the Indo-Pacific, West Asia, and the Ukraine conflict. 

 

UK PM lauds India’s growth story

UK PM Starmer, who arrived in Mumbai on Wednesday for his official two-day visit to India, said, “...We are building something here, we are creating a new modern partnership focused on the future and availing the opportunities and we are doing it together.”

  “That is why we struck the UK-India Comprehensive Economic and Trade Agreement (CETA) in July, a breakthrough moment – years in the making, slashing tariffs, increasing access to each other’s markets to drive growth and create jobs for our people and making life in both our nations,” he said. 

Starmer also praised India’s economic growth and vision for the future. He congratulated PM Modi on his leadership, aiming to be the world’s third-largest economy by 2028. “Your vision of ‘Viksit Bharat’ is to make it a completely developed country by 2047. Everything I have seen since I have been here is absolute proof to me that you are on track to succeed in that,” he said.

 

[With agency inputs]