PM Modi described the FTA not just as an economic accord but “a roadmap for shared prosperity.”
India, UK Sign Landmark Free Trade Agreement to Boost Bilateral Trade and Jobs
India, UK Sign Free Trade Agreement Latest News – In a major step forward in bilateral relations, India and the United Kingdom on Thursday signed a landmark and "economically significant" Free Trade Agreement (FTA) in the presence of Prime Minister Narendra Modi and UK Prime Minister Keir Starmer, aimed at making trade faster, easier, and more beneficial for both countries.
The agreement was formally signed by India’s Commerce Minister Piyush Goyal and UK’s Secretary of State for Business and Trade, Jonathan Reynolds, in a ceremony attended by both prime ministers.
Speaking at a joint press conference, UK Prime Minister Keir Starmer hailed the agreement as a milestone for the post-Brexit UK and a catalyst for economic growth:
“This is a deal that will bring huge benefits to both of our countries — boosting wages, raising living standards, and putting more money in the pockets of working people. It is good for jobs, good for business, and will cut tariffs, making trade cheaper, quicker, and easier.”
Starmer thanked Prime Minister Modi and the negotiating teams of both nations, stating, “We both know that this is the biggest, most economically significant trade deal that the UK has signed since leaving the EU. And I believe it’s also one of the most comprehensive trade agreements India has ever entered into. Thank you, Prime Minister, for your leadership and pragmatism.”
Prime Minister Narendra Modi, calling the agreement a historic milestone, stated, “Today marks a historic day in our relations. I am delighted that after years of hard work, our two nations have signed the Comprehensive Economic and Trade Agreement.”
He described the FTA not just as an economic accord but “a roadmap for shared prosperity.”
Highlighting key benefits, PM Modi added, “Indian sectors such as textiles, footwear, gems and jewellery, seafood, engineering goods, agriculture, and processed food will now enjoy better market access in the UK. This agreement will especially benefit our youth, farmers, fishermen, and the MSME sector.”
“For India, this will also mean better access to high-quality and affordable UK products such as medical devices,” he added.
Modi also thanked the UK government for its strong condemnation of the recent Pahalgam terror attack, and affirmed that coordination on the extradition of economic offenders would continue between the two countries.
Meanwhile, Union Commerce Minister Piyush Goyal congratulated both leaders and the people of India and the UK, “Congratulations to Prime Minister Narendra Modi, UK Prime Minister Keir Starmer, and the people of both nations on the signing of the landmark India-UK Comprehensive Economic and Trade Agreement (CETA),” Goyal wrote in a post on X.
Earlier, on May 6, PM Modi and PM Starmer had announced the successful conclusion of the India-UK Free Trade Agreement negotiations, as reported by ANI.
Both nations have set a target to increase bilateral trade to USD 120 billion by 2030, paving the way for deeper economic, strategic, and people-to-people ties.
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