India-UK Trade Deal: Prime Minister Narendra Modi on July 24 called the India-UK Free Trade Agreement (FTA) signed between the two nations ‘historic. The Prime Minister also invited his British counterpart Keir Starmer on a state visit to India.
“Today is a historic day for India and UK bilateral relations as both the nations have signed the Comprehensive Economic and Trade Agreement (CETA) after many years of efforts,” PM Modi said while addressing the press conference after signing the deal in London.
PM Modi is on a four-day visit to the UK and the Maldives, his fourth visit to the UK. Modi also invited his UK counterpart to visit India.
The deal is expected to double bilateral trade from the current 60 billion dollars to 120 billion dollars by 2030. The PM expressed gratitude PM Starmer for his warm welcome and said that the Indian textile, footwear, gems and jewellery, seafood and engineering goods will get better market access in the UK after the landmark deal.
The prime minister said India’s agricultural produce and processed food industry will have new opportunities in the UK market.
‘Benefits Indian youth’
“This agreement will especially benefit Indian youth, farmers, fishermen and MSME sector,” PM Modi said. “On the other hand, for the people of India and industry, products made in UK, like medical devices and aerospace parts, will
PM Modi’s foreign trip coincides with the Monsoon Session of Parliament, which began on July 21.
Today is a historic day for India and UK bilateral relations as both the nations have signed the Comprehensive Economic and Trade Agreement.
Besides holding wide-ranging talks with British Prime Minister Keir Starmer, Modi will also meet King Charles III later in the day.
From London, Modi will travel to the Maldives at the invitation of President Mohamed Muizzu in what is being seen as a breakthrough in the ties between the two countries following a spell of frostiness under Muizzu.