British Prime Minister Keir Starmer on Wednesday described the India–UK Free Trade Agreement (FTA) as the “biggest deal” the United Kingdom has struck since leaving the European Union, terming it “hugely important” for both nations.
Addressing business leaders during an interaction in Mumbai, Starmer said, “This is the biggest trade mission that the United Kingdom has ever sent to India.” He added that his visit marks the “return leg” following Prime Minister Narendra Modi’s visit to the UK earlier this year.
Starmer said that the UK’s exit from the European Union has allowed it to forge new trade partnerships, with India emerging as a key partner in its post-Brexit economic strategy. “It’s the biggest deal we’ve struck since we left the European Union. I think it’s also the biggest deal that India has ever struck, so it’s hugely important,” he said.
The India–UK Free Trade Agreement, signed in July 2024 during Prime Minister Modi’s visit to the UK, is a landmark pact aimed at boosting bilateral trade by £25.5 billion annually. The agreement provides substantial tariff reductions on a range of goods, including textiles, whisky, and cars, enhancing competitiveness for exporters in both markets.
Under the deal, the UK will offer duty-free access on 99.1% of tariff lines, covering 100% of trade value immediately upon enforcement. The FTA is projected to generate thousands of jobs across sectors such as textiles, leather, footwear, sports goods, and engineering, while also deepening economic engagement between the world’s fifth- and sixth-largest economies.
The trade pact seeks to double bilateral trade by 2030 and strengthen cooperation in innovation, services, and investment.
During his interaction at the Taj Mahal Palace in Mumbai, the British Prime Minister also shared lighter moments with industry representatives, including taking a selfie with a disposable camera.
-ANI