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Key Points

PM Modi praised the India-UK CETA as a milestone in bilateral economic relations. The deal is expected to boost labor-intensive sectors like textiles and auto parts. Modi emphasized its role in accelerating India's manufacturing growth and export potential. Both leaders expressed optimism for deeper economic ties between the two nations.

Key Points: Modi Celebrates India-UK CETA Deal as New Economic Partnership Chapter

  • Modi highlights CETA's role in boosting Make in India exports
  • Deal to benefit MSMEs, farmers, and youth employment
  • Strengthens trade in textiles, auto parts, and gems
  • UK PM Starmer welcomes enhanced bilateral economic ties
2 min read

New chapter in India-UK economic partnership, PM Modi lauds signing of CETA

PM Modi hails the landmark India-UK trade agreement, boosting sectors like textiles, auto parts, and services while strengthening bilateral ties.

"A new chapter begins today in the India-UK economic partnership! – Narendra Modi"

London, July 24

Prime Minister Narendra Modi on Thursday hailed the signing of the Comprehensive Economic and Trade Agreement (CETA) as a new chapter in the India-UK relationship.

PM Modi said that the deal represents India and UK's commitment to enhance trade ties.

In a post on X, he said, "A new chapter begins today in the India-UK economic partnership! The signing of the Comprehensive Economic and Trade Agreement (CETA) reflects our shared commitment to enhancing trade, driving inclusive growth and creating opportunities for farmers, women, youth, MSMEs, and professionals."

https://x.com/narendramodi/status/1948342831652708358

"Labour-intensive sectors such as textiles, leather & footwear, marine, gems & jewellery, organic chemicals, plastics, auto parts, artisanal products and services are poised for strong growth. This will ensure further acceleration of India's journey towards becoming a global manufacturing hub. India-UK CETA will add momentum to the 'Make in India' led growth and export promotion. This agreement will also provide Indian consumers with high-quality goods at competitive prices. The future indeed holds the promise of greater prosperity and deeper ties between our nations!" he added.

Earlier in the day, while addressing a joint press conference, PM Modi lauded the signing of the landmark India-UK Free Trade Agreement (FTA), stating that the agreement marked a significant milestone in bilateral relations between the two nations.

During a joint press statement with UK Prime Minister Keir Starmer, PM Modi highlighted the enhanced market access and economic opportunities for both nations while expressing gratitude for the warm hospitality he received during his official visit to the country.

"First of all, I would like to express my heartfelt gratitude to Prime Minister Starmer for the warm welcome and gracious hospitality. Today marks a historic day in our bilateral relationship. I am pleased to note that, after many years of hard work, the Comprehensive Economic and Trade Agreement between our two countries has been concluded," PM Modi stated.

The much-awaited landmark India-UK FTA was signed in the presence of PM Modi and Keir Starmer, providing greater access to goods and services between the two countries. PM Modi is currently on a two-day official visit to the UK.

- ANI

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Reader Comments

S
Sarah B
As an NRI in London, I'm excited to see more Indian products in UK markets. But will British companies get similar access in India? The deal should be mutually beneficial to last long-term.
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Ananya R
Great move! But I hope the government also focuses on improving our manufacturing quality standards. We can't just compete on price, need to match global quality to sustain this partnership.
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Vikram M
Finally! Been waiting for this since Brexit. UK needs Indian markets and we need their technology transfer. Win-win if executed properly. Jai Hind! 🙏
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Karthik V
The gems and jewellery sector will flourish with this deal. Surat's diamond industry is already celebrating! But government must ensure middlemen don't eat up all the profits.
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Priya S
Hope this brings down prices of imported goods for Indian consumers. But skeptical about how much benefit will actually trickle down to common people. Let's wait and watch.
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Michael C
Interesting development. As a British investor, I'm keen to see how this opens up opportunities in India's growing tech sector. The services part of the agreement could be more transformative than goods trade.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

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