UK Prime Minister Keir Starmer on Tuesday informed the newly-signed Free Trade Agreement (FTA) between India and the UK is likely to raise living standards and secure the affluent relationship between both nations.
Writing on social media site X, Starmer said, "The India trade deal will raise living standards, put more money in the pockets of British working people, and strengthen the special relationship between our two nations."
The UK Prime Minister also shared a video of his phone conversation with Indian Prime Minister Narendra Modi, where the two leaders exchanged their celebrations about the deal.
"Congratulations, Prime Minister, we have done something completely historic today," Starmer said to Modi. "This is the largest deal the UK has ever made since we left the EU. I think it's also the most ambitious India has ever signed."
Addressing the UK Prime Minister, PM Modi complimented Starmer's leadership and gave credit to his visionary leadership for this achievement.
The credit is yours with your vision and leadership with courage. This agreement will strengthen the UK-India strategic partnership even more," said Modi.
Earlier today, during his address at the India @2047 event, PM Modi formally declared the agreement as a historic occasion for India.
Historic for India. I had just phoned the UK Prime Minister, and I am happy to tell you that the pre-trade deal between the UK and India has been concluded," he alleged.
Modi reiterated that the agreement would bring a new era of economic growth to both nations, with particular boost to India's Micro, Small, and Medium Enterprises (MSMEs). He also added that the agreement is in line with India's broader endeavor to make India a strong global trading and investment platform, through a number of international trade agreements.
"Courageous choices and brave ambitions are the hour of need. Development of our country has always to remain a concern, and each step making for progress and long-term returns to our citizens," Modi furthered.
The two leaders received the agreement as a milestone in the India-UK Comprehensive Strategic Partnership, citing its promise to increase trade, drive investment, foster innovation, and create jobs in the two economies.
A joint press statement highlighted the fact that the deal between two of the globe's most dynamic markets will create new business opportunities, boost economic integration, and improve people-to-people contacts.
Starmer reaffirmed through an official statement that reducing trade barriers and deepening international partnerships are among the UK's 'Plan for Change' — a policy aimed at creating a wealthier and more secure economy.
Both countries were optimistic that the new Free Trade Agreement — which was labeled as balanced, equitable, and forward-looking — would dramatically expand bilateral trade, generate employment opportunities, and improve the well-being of citizens in both countries.
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