UK and India agree free trade deal, PM Modi calls it historic milestone
India and the United Kingdom have concluded an free trade agreement (FTA) that will deepen the bilateral comprehensive strategic partnership and catalyse trade and investment, Prime Minister Narendra Modi said on Tuesday after a conversation with his British counterpart Keir Starmer.
The deal was finalised three years after Modi and his former British counterpart Boris Johnson set a target of concluding the FTA by October 2022.
Since then, the negotiations had been affected by differences on a range of issues, including tariffs on alcohol and automobiles, and political turmoil in the UK.
“Delighted to speak with my friend PM @Keir_Starmer. In a historic milestone, India and the UK have successfully concluded an ambitious and mutually beneficial Free Trade Agreement, along with a Double Contribution Convention,” PM Modi said in a post on X on Tuesday evening.
“These landmark agreements will further deepen our Comprehensive Strategic Partnership, and catalyse trade, investment, growth, job creation, and innovation in both our economies. I look forward to welcoming PM Starmer to India soon,” he said.
The two leaders described the development as a historic milestone that will foster trade, investment, innovation and job creation in both economies.