London/New Delhi, July 24 (UNI) Prime Minister Narendra Modi today described the India-UK Free Trade Agreement (FTA) as a blueprint for shared prosperity which is more than an economic
partnership and marks historic milestone in relations between the two countries.
‘’I am pleased that after years of dedicated efforts, the Comprehensive Economic and Trade Agreement between our two countries has been concluded today. This agreement is more than just an economic partnership; it is also a blueprint for shared prosperity,’’ the Prime Minister said in his remarks during the joint press statement along with his British counterpart Keir Starmer.
He said the Agreement paves way for enhanced market access in the UK for Indian textiles, footwear, gems and jewellery, seafood, and engineering goods and will unlock new opportunities for India’s agricultural produce and processed food industry.
Above all, the agreement will be especially beneficial for India’s youth, farmers, fishermen, and the MSME sector.
He said UK-made products like medical devices and aerospace components will become more accessible and affordable for Indian consumers and industries.
Alongside the trade agreement, a consensus has also been reached on the Double Contribution Convention which will inject new momentum into the service sectors of both countries, particularly in technology and finance.
It will enhance the ease of doing business, reduce operational costs and boost confidence of doing business. Additionally, the UK economy will benefit from access to skilled Indian talent.
These agreements will boost bilateral investment and generate new employment opportunities in both countries. Moreover, these agreements ‘’between two vibrant democracies and major global economies’’ will contribute to strengthening global stability and shared prosperity.
The Prime Minister said both countries were launching Vision 2035 to infuse new momentum and energy into the Comprehensive Strategic Partnership over the next decade. This would serve as a roadmap for a strong, trusted, and ambitious partnership in the areas of technology, defence, climate, education, and people-to-people connectivity.
A Defence Industrial Roadmap has also been developed to deepen collaboration in defence and security. Both countries will also work to further strengthen Technology Security Initiative and are committed to creating the future together through commitment to AI, Critical Minerals, Semiconductors and Cyber Security.
He said both our countries are writing a new chapter together in the field of education. Six universities from the UK would open campuses in India. The University of Southampton has already inaugurated its campus in Gurugram.
The Prime Minister thanked his British counterpart and his government for their strong condemnation of the Pahalgam terrorist attack and said both leaders were united against double standards in the fight against terrorism.
They also agreed that forces with extremist ideologies must not be allowed to misuse democratic freedoms and those who misuse democratic freedoms to undermine democracy itself, must be held to account.
On the matter of extradition of economic offenders the Prime Minister said agencies of both countries would continue to work together in close coordination and cooperation.
On peace and stability in Indo-Pacific, Ukraine and the situation in West Asia, he said he and Mr Starmer continued to share perspectives. ‘’We support early restoration of peace and stability. Respect for sovereignty and territorial integrity of all countries is essential. Today’s era demands development, not expansionism.’’
He condoled the death of British citizens in the tragic Ahmedabad plane crash.
Describing the people of Indian origin living in UK as a ‘’living bridge in our relationship,’’ Mr Modi said ‘’they did not just bring curry from India, but also creativity, commitment, and character. Their contribution is not limited to the UK’s thriving economy — it is equally visible in the country’s culture, sports, and public service.’’
Expressing commitment to building a ‘’high scoring solid partnership’’ Prime Minister Modi said India and UK come together in cricket, especially during a Test series. ‘’For both of us cricket is not just a game but a passion. And also, a great metaphor for our partnership. There may be a swing and a miss at times. But we always play with a straight bat. We are committed to building a high scoring solid partnership.’’
