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India and the UK successfully concluded a "mutually beneficial" Free Trade Agreement (FTA) on Tuesday (May 6), Prime Minister Narendra Modi announced, calling it a "historic milestone".
The Indian PM said that the two nations have successfully concluded mutually beneficial Free Trade Agreement, along with a Double Contribution Convention.
PM Modi in a post on X, announced the successful conclusion of the India-UK Free Trade Agreement.
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"These landmark agreements will further deepen our Comprehensive Strategic Partnership, and catalyse trade, investment, growth, job creation, and innovation in both our economies," he said in the post.
Delighted to speak with my friend PM @Keir_Starmer. In a historic milestone, India and the UK have successfully concluded an ambitious and mutually beneficial Free Trade Agreement, along with a Double Contribution Convention. These landmark agreements will further deepen our…
— Narendra Modi (@narendramodi) May 6, 2025
Moreover, PM Modi also invited UK PM Keir Starmer to India soon.
The two leaders welcomed the successful conclusion of the trade agreement with the Double Contribution Convention.
UK PM Keir Starmer also shared the news on his social media X platform, calling it a "historic moment".
"Today Britain has agreed a landmark trade deal with India. Fantastic news for British business, British workers, and British shoppers, delivering on our Plan for Change. Good to speak to Prime Minister @NarendraModi as we mark this historic moment," he said in a post on X.
Today Britain has agreed a landmark trade deal with India.
— Keir Starmer (@Keir_Starmer) May 6, 2025
Fantastic news for British business, British workers, and British shoppers, delivering on our Plan for Change.
Good to speak to Prime Minister @NarendraModi as we mark this historic moment. pic.twitter.com/mr0wfatBcH
The completion of the FTA will foster trade, investment, innovation and job creation in both economies.
WATCH | India-UK eye FTA to boost bilateral trade
"Both agreed that the landmark agreements between the two big and open market economies of the world will open new opportunities for businesses, strengthen economic linkages, and deepen people-to-people ties," a press release from the Indian prime minister's office read.
Moreover, PM Modi said that strengthening alliances and reducing trade barriers with economies around the world is part of their plan for change to deliver a stronger and more secure economy.
The two leaders also agreed that expanding ties between India and the UK "remain a cornerstone of the increasingly robust and multifaceted partnership."
The India, UK FTA will also unlock new potential for the two nations to jointly develop products and services for global markets, the statement added.
WATCH | India, UK to resume free trade agreement talks from February 24