India and the UK have signed a landmark Free Trade Agreement slashing tariffs on key goods. PM Modi called it “historic,” while UK PM Starmer hailed it as the most significant post-Brexit dealread more

India and Britain signed a major
Free Trade Agreement (FTA) aimed at reducing tariffs on British whisky, vehicles, and a range of other products, while boosting bilateral trade by approximately $34 billion annually.

Prime Minister Narendra Modi and UK Prime Minister Keir Starmer met at Chequers, the British leader’s official country residence outside London, where Trade Ministers Piyush Goyal and Jonathan Reynolds formally signed the agreement.

Britain’s Secretary of State for Business and Trade, Jonathan Reynolds, right, and Piyush Goyal, Minister of Industry and Supply of India, shake hands after they signed a free trade agreement at Chequers near Aylesbury, England. AP

Starmer described it as “the biggest and most economically significant trade deal” that Britain has struck since its departure from the European Union in 2020. Modi hailed the occasion as “a historic day in our bilateral relations.”

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Here are 10 key remarks from the joint press briefing:

1. PM Modi said, “UK and India are natural partners. Today marks a historic day in our relations. Our two nations are signing FTA and Double Contribution Convention. This is adding a new chapter in business and trade.”

2. UK PM Starmer said, “This is not the extent of the limit for our collaboration with India. We have a unique bond of culture and history… I am delighted that we are building on the India-UK vision 2035.”

3. “It 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, it is good for business, putting tariffs and making trade cheaper, quicker and easier,” Starmer said.

4. After the hard work of many years, economic cooperation has materialised between the nations, PM Modi said.

5. PM Modi also stated that the FTA is a blueprint for shared prosperity and the agreement will be beneficial to youth, farmers, MSEME sectors in India.

6. “This agreement not only paves the way for economic partnership but also serves as a blueprint for our shared prosperity,” PM Modi emphasised.

7. PM Modi also stated that six UK universities would open campuses in India. “Last week in Gurugram, South Hampton University was opened,” he added.

8. PM Modi said,“I appreciate UK PM Starmer’s support to India after Pahalgam terror attack.”

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“Those who misuse democratic freedom to undermine democracy itself must be held accountable,” he added.

9. “We support early restoration of peace and stability’”, PM Modi said, referring to the Russia-Ukraine war and conflicts in the Middle East.

10. Speaking as England and India face off in a cricket test series, Modi sad the sport was “a great metaphor for our partnership.”

“There may be a swing and a miss at times but we always play with a straight bat,” he said. “We are committed to building a high-scoring, solid partnership.”