PM Modi in UK: India to sign FTA with UK; PM Starmer hails ‘major win’ with landmark trade deal

British Prime Minister Kiir Starmer said that the “teacher” free trade agreement that he will sign with India is a “great victory” for the British economy. This comes at a time when Prime Minister Narendra Modi fell in London on a two -day official visit.

The Prime Minister at the airport was received by the UK Foreign Minister responsible for Catherine West, along with the UK High Commissioner for the United Kingdom Vikram Dorsaiswami and the British High Commissioner to New Delhi Lindy Cameron.

Upon his arrival, the PM Modi was welcomed by groups of community leaders, students and parliamentarians who gathered on the outskirts of London.

During his visit, large -scale discussions are scheduled to take place with British Prime Minister Kiir Starmer and get to know King Charles III. Starmer will host it in Checkers, the residence of the official Prime Minister of the British Prime Minister near London.

India-Free Trade Convention

Starmer said the agreement will reduce the definitions and reduce prices on goods such as clothes and food products. Indian companies will expand their operations in the United Kingdom while British companies will guarantee new opportunities in India. Airbus and Rolls-Royce will start delivering aircraft in India, with more than half of Rolls-Royce engines.

“The historic trade deal with India is a great victory for Britain. It will create thousands of British jobs throughout the United Kingdom, cancel new opportunities for companies and push growth in every corner of the country, and provide our plan for change. We are putting more money in the pockets of diligent British and helping families with cost, and we are determined to move forward and go down the economy in the United Kingdom in the United Kingdom.”

According to the UK Business and Trade (DBT), the Free Trade Agreement includes a significant decrease in India’s tariff for UK products, as it decreased from 15 percent to 3 percent, making British goods more competitive in the Indian market. Sectors such as whiskey production will witness a decrease from 150 percent to 75 percent, and eventually to 40 percent, providing a competitive advantage over international competitors.

Official statistics indicate that the United Kingdom is currently importing 11 billion pounds of goods from India. With the liberated definitions, it is expected to decrease the costs of acquisition of companies in areas such as advanced manufacturing and consumer goods.

DBT expects an increase in UK exports to India by approximately 60 percent, equivalent to 15.7 billion pounds, which enhances bilateral trade by about 39 percent in the long term.

The clean energy sector will receive “new and unprecedented arrival” to the purchasing market in India, where the country will move to renewable energy sources. Financial and professional business services will benefit from “access to the India market, which provides certainty of expansion.

Both countries have also committed to enhancing cooperation in dealing with corruption, serious fraud, organized crime and irregular migration through intelligence and operating cooperation.