On Thursday, Prime Minister Narendra Modi hailed the signing of the Free Trade Agreement (FTA) with the United Kingdom as a ‘historic’ moment, underscoring it as more than just an economic accord, but a comprehensive plan for mutual growth.
He also confirmed a consensus had been reached on the double contribution convention.
During a joint press address with UK Prime Minister Keir Starmer, PM Modi declared, “Today is a historic day in our relations. I am happy that after many years of hard work, the Comprehensive Economic and Trade Agreement has been concluded between the two countries. This Agreement does not merely pave the way for economic partnership but is also a blueprint for our shared prosperity.”
“Indian textile, footwear, gems and jewellery, seafood and engineering goods will get better market access in the UK. New opportunities will emerge in the UK market for India’s agricultural produce and processed food industry. This agreement will especially benefit Indian youth, farmers, fishermen and the MSME sector. On the other hand, people and the industries in India will be able to access products made in the UK, such as medical devices, aerospace parts, at affordable and reasonable prices,” Prime Minister Modi added.
Earlier in the day, the two prime ministers formally signed the long-anticipated agreement, projected to increase annual bilateral trade by approximately USD 34 billion.
A Warm Welcome and Invitation Extended
PM Modi expressed gratitude for the warm welcome extended by his UK counterpart and extended an invitation to PM Starmer to visit India.
He stated that the agreements between the two nations would contribute positively to global stability and prosperity.
“Prime Minister, once again, I express my gratitude for your warm hospitality. I also extend an invitation for you to visit India and hope that we will have the opportunity to welcome you in India soon,” he noted.
Unveiling a new strategic roadmap, PM Modi announced the India–UK Vision 2035.
“Vision 2035 is a roadmap that will form the basis of a strong, ambitious partnership in the fields of technology, defence, climate, education, and people-to-people connect,” the Prime Minister asserted.
“Along with this agreement, we have also reached a consensus on the double contribution convention. This will inject new energy into the service sectors of both countries, especially in technology and finance. It will promote ease of doing business, reduce the cost of doing business, and increase confidence in doing business. Additionally, the UK’s economy would benefit from India’s skilled talent. These agreements will enhance investments and generate new employment opportunities in both countries. Moreover, as agreements reached between two democracies and two of the world’s major economies, they will lend support to global stability and global prosperity,” PM Modi remarked.
Emphasising the ongoing commitment to bolstering technology security, Prime Minister Modi stated that India and the UK will continue to enhance their collaborative efforts in this area.
“Defence industrial roadmap has also been drawn up for partnership in defence and security. Work will continue on strengthening our technology security initiative. It is our commitment that from AI to critical minerals, from semiconductors to cybersecurity, we shall create the future together,” PM Modi said.
British Universities to Open Campuses in India
On educational ties, he announced that six British universities will establish campuses in India, referencing the recent inauguration of the University of Southampton’s new facility in Gurugram.
PM Modi also praised the Indian diaspora in the UK for their role in strengthening bilateral ties, describing them as a ‘living bridge’.
“People of Indian origin who live in the UK act as a living bridge in our relations. They did not just bring curry from India, but also creativity, commitment and character. Their immense contributions are not just limited to the UK’s prosperous economy but are also reflected in the culture, sports and public service of the UK,” he said.
Touching on the cultural significance of cricket to both nations, PM Modi remarked, “When India and the UK meet — and that too during a Test series — it is only natural to mention cricket. For both of us, cricket is not just a game, but a passion, and also a great metaphor for our partnership. There may be a swing and a miss at times, but we always play with a straight bat. We are actively working to build a solid, high-scoring partnership. The agreements concluded today and Vision 2035 are milestones which advance this very spirit.”
In closing, he offered condolences to families affected by the recent Air India crash in Ahmedabad.
“Among the people who died in the accident in Ahmedabad last month, there were several sisters and brothers from the UK. We express our condolences to the families,” PM Modi concluded.
Also Read: PM Modi’s UK Visit Sparks Celebration Among Indian Diaspora Over FTA
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