New Delhi, May 6: India and the United Kingdom have successfully concluded a landmark Free Trade Agreement (FTA) and a Double Taxation Avoidance Convention, marking a significant milestone in bilateral relations.
Prime Minister Narendra Modi announced the achievement on Tuesday, highlighting the ambitious and mutually beneficial nature of the agreements. He emphasized that the FTA would further strengthen the India-UK Comprehensive Strategic Partnership and serve as a catalyst for increased trade, investment, innovation, and job creation in both countries.
Sharing the news on social media platform X, PM Modi wrote, “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.” He added that the agreements would deepen the strategic partnership and drive economic growth and innovation in both nations. Modi also extended an invitation to PM Starmer to visit India soon.
In an official statement, the Prime Minister’s Office confirmed that PM Modi and UK Prime Minister Sir Keir Starmer held a phone conversation to celebrate the successful conclusion of the agreements.
“The leaders described this as a historic milestone in the bilateral Comprehensive Strategic Partnership, one that will foster trade, investment, innovation, and employment in both economies,” the statement read.
It added that the agreements between two of the world’s largest open market economies would create new opportunities for businesses and strengthen people-to-people ties.
Prime Minister Starmer reiterated the UK’s commitment to strengthening global partnerships and reducing trade barriers as part of his administration’s broader “Plan for Change” aimed at building a more secure and resilient economy. Both leaders agreed that deepening economic and commercial cooperation remains central to the robust and evolving India-UK partnership.
The finalized FTA, which encompasses trade in goods and services, is expected to significantly enhance bilateral trade, create new jobs, raise living standards, and improve overall well-being in both countries. It also opens the door for collaborative development of products and services aimed at global markets.
This agreement solidifies the foundation of the India-UK Comprehensive Strategic Partnership and ushers in a new era of cooperation and shared prosperity. Both leaders committed to maintaining regular communication as the partnership advances.
