Modi, Starmer Seal India-UK Free Trade Deal in Decisive Talks

National News: India has gained major diplomatic success amidst the ongoing instability in global trade. India and the United Kingdom (UK) have finalized the long -awaited free trade agreement (FTA). This historic decision was announced in a telephone conversation between Prime Minister Narendra Modi and British PM Kir Starmer.

Modi congratulated Kir Starmer and said that the agreement will open new opportunities for investment, trade and employment between the two countries. At the same time, social security cooperation has also been agreed.

Delighted to speak with my friend PM @Keir_Starmer. In a historic milestone, India and the UK have successfully concluded an ambitious and mutually beneficial Free Trade Agreement, along with a Double Contribution Convention. These landmark agreements will further deepen our…

Britain's biggest deal after Brexit

The British Prime Minister described it as his biggest trade agreement after Brexit and also expressed deep concern about the Pahalgam terror attack. Modi invited him to come to India, which Kir Starmer gladly accepted.

What will be cheap?

• Under FTA, India will cut tariffs on 90% of imports coming from the UK.
• 85% imports will be fully free in a decade
• Whiskey and which will be reduced to 75%
• Import duty on automobiles will be brought up to 10%

Exporters will increase benefits: FICCI

FICCI President Harshvardhan Aggarwal, describing the agreement as relief for global trade, said that the deal would give Indian exporters a great opportunity to increase their presence in the UK. This agreement also shows India's economic strength and strategic impact.

Services & education sector will get promotion

FTA has included widespread not only of goods, but also services and education sector. This will give Indian IT and consulting firms more competitive in Britain. Along with this, Indian students are also expected to improve education and post-study visa opportunities in the UK. The two countries have described the agreement as an inclusive and sustainable development, which will open the doors of opportunities even for the new generation.

Dreams of Make in India and Global Trade Power will get strength

This agreement will strengthen Prime Minister Modi's "Make in India" initiative globally. Strong business relations with the UK will be helpful in the mission of making India global manufacturing and trade power. In addition, the deal also conveys a message to countries that are in the queue of making trade agreements with India - that India has now become a mature player not only, but also policy and strategic point of view.

Bilateral trade of $ 50 billion

Currently, bilateral trade between India and the UK is more than $ 50 billion, which is likely to grow manifold in the coming years.