GG News Bureau
New Delhi, 6th May: Prime Minister Narendra Modi and Prime Minister of the United Kingdom, Keir Starmer, today hailed the successful conclusion of a comprehensive and mutually beneficial India-UK Free Trade Agreement (FTA) alongside the Double Contribution Convention. In a telephone conversation, the two leaders described these agreements as a “historic milestone” in the bilateral Comprehensive Strategic Partnership.
According to a press release from PIB Delhi, both Prime Ministers expressed confidence that these landmark agreements between the two major global economies will significantly foster trade, investment, innovation, and job creation in both nations. They concurred that the FTA and the Double Contribution Convention will unlock new opportunities for businesses, strengthen existing economic linkages, and deepen the already strong people-to-people ties between India and the UK.
Prime Minister Starmer emphasized that forging stronger alliances and reducing trade barriers with economies worldwide forms a crucial part of their plan to deliver a more robust and secure economy for the UK.
Both leaders agreed that the expansion of economic and commercial ties remains a fundamental pillar of the increasingly strong and multifaceted partnership between India and the United Kingdom. The concluded FTA, which encompasses trade in both goods and services, is anticipated to substantially enhance bilateral trade, create new employment opportunities, raise living standards, and improve the overall well-being of citizens in both countries.
Furthermore, it is expected to unlock new potential for joint development of products and services targeted at global markets. This agreement firmly establishes the strong foundations of the India-UK Comprehensive Strategic Partnership and sets the stage for a new era of enhanced collaboration and mutual prosperity.
Prime Minister Modi extended an invitation to Prime Minister Starmer to visit India. The two leaders concluded their conversation with a commitment to remain in close contact.
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