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In a significant diplomatic and economic milestone, British Prime Minister Keir Starmer will host Indian Prime Minister Narendra Modi in the UK to finalize a landmark trade deal. This agreement is forecasted to boost bilateral commerce by an estimated £25.5 billion annually. As per a statement from the British High Commission, the deal aims to unlock thousands of jobs and foster economic growth, marking a new era of cooperation between the two nations.
This agreement is considered India’s most comprehensive trade pact to date and the UK’s most substantial bilateral trade deal since Brexit. It is expected to enhance market access for businesses in both countries and reduce costs for consumers by making goods and services more affordable. The UK-India Vision 2035 initiative will extend beyond trade, promoting mutual prosperity, innovation, defense cooperation, and climate action. The countries aim to foster educational opportunities and secure borders.
The visit also coincides with the first anniversary of the UK-India Technology Security Initiative, with leaders committing to harnessing frontier technologies for strengthened national security. British Business and Trade Secretary Jonathan Reynolds praised India as an emerging economic superpower, lauding the agreement for improving access to British products in India and easing tariffs on Indian goods to benefit UK consumers while fostering bilateral economic ties. Enhanced cooperation in tackling corruption and crime will also be a focus, underscoring the reinvigorated partnership’s comprehensive scope.
(With inputs from agencies.)
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