NEW DELHI: Indian Prime Minister Narendra Modi signed on Thursday a long-awaited free trade agreement with the UK, which will see tariffs cut on goods and increase market access for both countries.
Modi arrived in London on Wednesday evening to meet his British counterpart Keir Starmer and witness the official signing of the deal by India’s Commerce Minister Piyush Goyal and UK Business Secretary Jonathan Reynolds in the Great Hall of Chequers in Aylesbury.
“This agreement is not merely an economic partnership, but a plan for shared prosperity. On one hand, Indian textiles, footwear, gems and jewelry, seafood and engineering goods will get better market access in the UK. New opportunities will be created in the UK market for India’s agriculture produce and processed food industry,” Modi said during a joint press conference with Starmer.
“For India’s youth, farmers, fishermen, and the MSME sector, this agreement will prove especially beneficial. On the other hand, for the people and industry of India, products made in the UK, such as medical devices and aerospace parts, will become available at accessible and affordable prices.”
A deal-in-principle was announced by Modi and Starmer in late May.
