FTA
Keir Starmer meets Narendra Modi in Brazil, announces relaunch of UK-India free trade agreement talks
UK Prime Minister Keir Starmer on Monday announced that UK-India free trade agreement talks will be relaunched in 2025.
Starmer made the announcement after meeting Indian PM Narendra Modi on the sidelines of the G20 Summit in Brazil.
"The UK will seek a new strategic partnership with India, including a trade agreement, as well as deepening co-operation in areas like security, education, technology, and climate change," read a statement issued by UK Prime Minister's office.
Had an extremely productive meeting with Prime Minister Keir Starmer in Rio de Janeiro. For India, the Comprehensive Strategic Partnership with the UK is of immense priority. In the coming years, we are eager to work closely in areas such as technology, green energy, security,… pic.twitter.com/eJk6hBnDJl
— Narendra Modi (@narendramodi) November 18, 2024
The Business and Trade Secretary announced the UK’s commitment to relaunching talks with Free Trade Agreement partners in July, the statement said.
Since then, negotiations have been kickstarted with the Gulf Cooperation Council, Switzerland and South Korea. The UK is also set to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) on 15 December.
The British PM said, "A new trade deal with India will support jobs and prosperity in the UK – and represent a step forward in our mission to deliver growth and opportunity across our country."
Since 2022, India and the UK have been negotiating a Free Trade Agreement (FTA).
The talks paused amid general polls held in both nations.
"A deal with India would boost the UK’s trading relationship, worth £42 billion in the 12 months to June 2024," read the statement issued by the UK PM.
As per a statement issued by the Indian Ministry of External Affairs, both leaders underlined the importance of resuming the Free Trade Agreement negotiations at an early date and expressed confidence in the ability of the negotiating teams, to address the remaining issues to mutual satisfaction, leading to a balanced, mutually beneficial and forward-looking Free Trade Agreement.
After the meeting, Indian PM Narendra Modi posted on X: "Had an extremely productive meeting with Prime Minister Keir Starmer in Rio de Janeiro. For India, the Comprehensive Strategic Partnership with the UK is of immense priority. In the coming years, we are eager to work closely in areas such as technology, green energy, security, innovation and technology. We also want to add strength to trade as well as cultural linkages."
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