HomeWorld"UK-India Trade Deal Unlocks Unmatched Growth Potential"

“UK-India Trade Deal Unlocks Unmatched Growth Potential”

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British Prime Minister Keir Starmer highlighted the exceptional opportunities emerging in India during his inaugural visit to the country yesterday to promote a trade deal established earlier this summer. Indian Prime Minister Narendra Modi welcomed Starmer and what he described as “the largest ever trade delegation from the UK,” emphasizing a shared vision for a more robust and mutually prosperous future.

The two-day visit follows the signing of a significant trade agreement between the two nations in London in July. Starmer expressed optimism about the future, stating, “With India poised to become the world’s third-largest economy by 2028, and trade set to become more efficient and cost-effective, the potential for growth is unmatched.”

India and the UK, ranking as the fifth- and sixth-largest economies globally, engage in bilateral trade amounting to approximately $54.8 billion, with investments supporting over 600,000 jobs in both countries. Starmer, accompanied by a 125-member delegation including industry leaders like British Airways CEO Sean Doyle, lauded the recent trade pact as the most substantial India has ever negotiated.

The new agreement will lead to India reducing tariffs on imports of British products such as whisky, cosmetics, and medical devices, while the UK will reciprocate by lowering duties on items like clothing, footwear, and food products, including frozen prawns from India. Starmer also announced plans for three new blockbuster Bollywood films to be produced in the UK starting next year, following a visit to the renowned Yash Raj Film studio.

Despite facing pressure, Starmer declined to expand visa access for Indian professionals. Advocacy groups have urged him to address the case of Scottish Sikh blogger Jagtar Singh Johal, detained in India since 2017 under allegations of planning to assassinate right-wing Hindu leaders. Johal remains unconvicted, with one of the nine charges against him dismissed in March.

Starmer is scheduled to meet with Modi today and participate in a fintech conference in Mumbai alongside him.

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