New Delhi:
India and the UK have signed the long-awaited Free Commerce Settlement and the Double Contribution Conference, Prime Minister Narendra Modi has introduced. Calling it a “historic milestone”, PM Modi, in a submit on social media platform X, mentioned it could “additional deepen our complete strategic partnership and catalyse commerce, funding, development, job creation, and innovation in each our economies”.
Delighted to talk with my pal PM @Keir_Starmer. In a historic milestone, India and the UK have efficiently concluded an bold and mutually helpful Free Commerce Settlement, together with a Double Contribution Conference. These landmark agreements will additional deepen our…
— Narendra Modi (@narendramodi) Could 6, 2025
PM Modi, who’s within the nation amid the stand-off with Pakistan following the fear assault in Pahalgam, had a telephonic dialog together with his UK counterpart Sir Keir Starmer and invited him to go to India.
PM Starmer has mentioned that strengthening alliances and lowering commerce boundaries with economies world wide is a part of their plan for change to ship a stronger and safer economic system, the federal government mentioned in an announcement.
The conclusion of a “balanced, equitable and impressive FTA, masking commerce in items and providers, is predicted to considerably improve bilateral commerce, generate new avenues for employment, elevate dwelling requirements, and enhance the general well-being of residents in each nations,” the assertion learn.
It could additionally unlock new potential for the 2 nations to collectively develop services and products for international markets.
The 2 nations have been working in the direction of a free commerce settlement for the reason that tenure of former Prime Minister Boris Johnson.
However the course of took time as officers labored to iron out a number of contentious factors, together with visa points for Indians, tariff for UK’s exports like vehicles and Scotch whiskey, and the UK’s Carbon Border Adjustment Mechanism or CABM — a tax on carbon-intensive gadgets like metal and fertiliser.