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New Delhi: Expressing happiness over the India-UK Free Trade Agreement (FTA), British Prime Minister Sir Keir Starmer said that the FTA is the biggest agreement the United Kingdom has signed since leaving the European Union. Addressing the business leaders in Mumbai, the visiting UK PM said that the trade partnership between India and Britain is very important.
Starmer said that this is Britain's biggest trade mission till date, and the agreement is expected to increase bilateral trade between the two countries by 25.5 billion pounds annually.
The India-UK FTA was signed during Prime Minister Narendra Modi's visit to London last July. The agreement significantly reduces tariffs on products such as textiles, whiskey, and cars. The FTA makes exports between the two countries more competitive. Under this agreement, Britain will impose zero tariffs on most tariff lines with full trade value. This will directly benefit Indian businesses by providing them greater access to the UK market.
The India-UK agreement will boost trade between India and the UK and help create thousands of new job opportunities, particularly in the textile, leather, footwear, sporting goods, and engineering sectors. This move will boost economic growth and investment in both countries.
UK PM Starmer visited Yash Raj Films Studios in Andheri. The visit is seen as a step towards promoting creative partnerships, including potential joint film projects and cultural exchange programs. The visiting British prime minister also attended a football showcase organised by the English Premier League at the Cooperage Football Ground in South Mumbai.
Prime Minister Modi warmly welcomed his UK counterpart Starmer. PM Modi took to social media to state that the two countries are ready to work together towards a strong and prosperous future.
The Ministry of External Affairs stated that Starmer’s visit will open a new chapter in the strong partnership between India and the UK.
