British Prime Minister Keir Starmer will lead a delegation of 125 UK CEOs, entrepreneurs, university Vice Chancellors and cultural leaders during his maiden official visit to India on Wednesday.
Starmer arrived in Mumbai early morning to meet Prime Minister Narendra Modi at the Raj Bhavan. They will attend the 6th edition of the 'Global Fintech Fest' at BKC's Jio World Center.
In July, India and the UK signed a landmark free trade agreement, which, starting next year, will see 99% of Indian exports enter the UK duty-free, while reducing tariffs on British products such as cars and whisky in the Indian market.
Indian companies, such as TCS and Infosys, operating in the UK won't have to make social security contributions for up to three years for employees who move from India.
Meeting Agenda
Starmer and Modi will take stock of progress in diverse aspects of the India-UK Comprehensive Strategic Partnership in line with ‘Vision 2035’, according to the Ministry of External Affairs. The visit is expected to build on the momentum and substance generated by PM Modi's trip to the UK in July.
The two countries arrived at a 10-year roadmap of programmes and initiatives in key pillars of trade and investment, technology and innovation, defence and security, climate and energy, health, education and people to people relations. The Indian diaspora forms 2.6% of UK population.
Both leaders will engage with businesses and industry leaders on opportunities presented by the India–UK Comprehensive Economic and Trade Agreement (CETA) as a central pillar of the future India–UK economic partnership. They will also exchange views on issues of regional and global importance, the MEA said.
The two prime ministers will also aim to enhance the UK-India partnership across artificial intelligence, telecoms and defence technology – creating new opportunities for businesses to invest and grow, while bolstering our national security, the UK Foreign Office said.
Britain is India's second largest international research and innovation partner.
UK Delegation
The 125-strong delegation marks the largest ever government trade mission to India, according to the UK Foreign Office. The delegation led by Keir Starmer will include major industry players like Rolls-Royce, British Telecom, Diageo, London Stock Exchange and British Airways.
The India-UK free trade agreement is expected to raise bilateral trade by 25.5 billion pounds per year, with UK exports to India projected to grow by nearly 60%.
'Unparalleled Opportunities'
Before his arrival in Mumbai, PM Starmer said the UK-India trade deal is a "launchpad for growth" and will provide "unparalleled opportunities" for UK businesses.
“We signed a major trade deal with India in July – the best secured by any country – but the story doesn’t stop there. It’s not just a piece of paper, it’s a launchpad for growth. With India set to be the third biggest economy in the world by 2028, and trade with them about to become quicker and cheaper, the opportunities waiting to be seized are unparalleled," Starmer said.
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