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LONDON– British Prime Minister Keir Starmer on Thursday described the newly signed Free Trade Agreement (FTA) with India as the “biggest and most economically significant trade deal” the UK has secured since leaving the European Union. Speaking alongside Prime Minister Narendra Modi in London, Starmer emphasized the agreement’s potential to boost wages, lower prices, and strengthen ties between the two nations.

“This is a deal that brings benefits to both countries—raising living standards, putting more money in the pockets of working people, and supporting jobs across sectors,” Starmer said. He highlighted its impact on British industries such as advanced manufacturing, Scottish whisky distilleries, and service hubs in London, Manchester, and Leeds, as well as its potential to reduce prices on Indian imports like clothing, food, and footwear.

The deal is expected to add approximately £4.8 billion to the UK economy annually, increase wages by £2.2 billion, and inject hundreds of millions of pounds into regional economies across the UK. Modi and Starmer formally signed the agreement on Thursday, projecting it will increase annual bilateral trade by around $34 billion.

Under the agreement, India will eliminate tariffs on 90 percent of UK goods, while the UK will cut duties on 99 percent of Indian exports. The deal significantly reduces trade barriers, regulatory red tape, and tariff lines across a wide range of sectors.

“This is not just the most significant trade agreement the UK has made since Brexit—it is also one of the most comprehensive deals India has ever signed,” Starmer added. “It sends a powerful message: the UK is open for business.”

The announcement was coupled with news of nearly £6 billion in investments and export deals between India and the UK, expected to create 2,200 jobs in Britain. The two leaders also unveiled the India-UK Vision 2035 Strategy, pledging deeper cooperation in areas including defense, climate change, migration, education, and healthcare.

Starmer also praised the ongoing collaboration in technology and innovation, marking the one-year anniversary of the Technology Security Initiative. “We have unique bonds of history, family, and culture,” he said. “Today’s agreement is confirmation that we are stepping up to meet the challenges of a new global era—not standing aside.”

Prime Minister Modi, on a two-day official visit to the UK, met with Starmer earlier at Chequers, the official country residence of the British Prime Minister. (Source: IANS)

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