Key Points

During the meeting, PM Modi emphasised the agreement's potential to boost trade, investment, and skilled mobility for future generations of the two nations.

"Together, we are laying the foundation stone of a new history. We are meeting for the third time this year. I consider this very significant. The UK and India are natural partners. Today marks a historic day in our relations. This will pave a very strong path for the future generations of India and the UK. This is adding a new chapter in business and trade," PM Modi said.

The long-awaited India-UK Free Trade Agreement was signed in the presence of both leaders today. The agreement aims to boost the movement of goods and services between the two countries. PM Modi is currently on a two-day official visit to the UK.

The Prime Minister in a post on X also noted the meeting with his UK counterpart, stating that the FTA will enhance market access for Indian textiles, footwear, gems and jewellery, engineering goods, agricultural products, and processed foods in the UK, benefiting farmers, women, youth, fishermen, and MSMEs.

https://x.com/narendramodi/status/1948363360300605613

"Exquisite Indian textile products, footwear, gems and jewellery and engineering goods will gain market access to the UK. The opportunities for agricultural products and processed foods will also get an impetus. All of this will benefit our people, especially farmers, women, youngsters, fishermen and MSMEs," he stated in the post.

"The Agreement will boost 'Ease of Doing Business', reduce 'Cost of Doing Business' and enhance 'Confidence of Doing Business'. Investment linkages are all set to get more vigour," he added in the post.

PM Modi also highlighted the launch of Vision 2035, a roadmap to deepen the Comprehensive Strategic Partnership in defence, education, semiconductors, sustainable development, and people-to-people ties.

He also expressed gratitude for the UK PM's condemnation of the April 22 Pahalgam terror attack, where 26 people were killed.

"It's equally gladdening that we've released Vision 2035 to deepen our Comprehensive Strategic Partnership. This will focus on sectors like defence, education, people-to-people ties, semiconductors and sustainable development," the post read.

"My gratitude to PM Keir Starmer for the strong condemnation of the Pahalgam terror attack. We also agree that extremist ideologies must not be allowed to misuse democratic freedoms. Those who misuse democratic freedoms to undermine democracy itself must be held to account," the post further added.

The landmark deal unlocks export opportunities for labour-intensive sectors, including textiles, leather, footwear, gems and jewellery, marine products, and toys, generating large-scale employment and empowering artisans, women-led enterprises, and MSMEs, a release from the Ministry of Commerce and Industry stated.

According to the release, the deal will provide unprecedented market access for Indian goods, offering zero-duty access on 99 per cent of tariff lines, covering nearly 100 per cent of the trade value.

- ANI