British Prime Minister Keir Starmer and India's Prime Minister Narendra Modi met on Thursday to sign a trade agreement between the two nations. Pool Photo by Chris J. Ratcliffe/EPA
July 24 (UPI) -- Britain and India agreed to a free trade agreement between their two nations Thursday.
"A new chapter begins today in the India-U.K. economic partnership," said Indian Prime Minister Narendra Modi on his social media platform Thursday. "The signing of the Comprehensive Economic and Trade Agreement reflects our shared commitment to enhancing trade, driving inclusive growth and creating opportunities for farmers, women, youth, [Micro, Small, and Medium Enterprises] and professionals."
The deal is expected to inject over $6.5 billion into the British economy and create more than $8 billion by way of investments from companies based in both countries.
"Our landmark trade deal with India is a major win for Britain," British Prime Minister Keir Starmer posted to X Thursday. "This is about putting more money in the pockets of hardworking Brits and helping families with the cost of living."
