Prime Minister Narendra Modi highlighted the economic and employment benefits of the trade deal between India and UK in joint press release with UK Prime Minister Keir Starmer on Thursday.
Starmer arrived in India on Wednesday for a two-day visit, marking his first official trip since the signing of the landmark free trade agreement between the two nations in July.
PM Modi welcomed UK PM Starmer to India and said, “In July, both nations signed a comprehensive free trade agreement and with this both nations will see a drop in import costs. Youth will get more employment opportunities; this will in return benefit both producers and consumers.”
Modi said that Starmer's visit to India shortly after the agreement is a great signal, “Yesterday business leader's biggest summit happened, today we will also attend Global fintech fest leading to even stronger ties”
India and UK are natural partner, our relation has democracy, freedom and rule of law, PM said. He further added that, “In the light of the current global situation, this partnership is a strong sign for global stability”
PM also said that both leaders discussed Ukraine, Gaza and other Indo-Pacific issues and supported diplomacy and peace talks.
“We can increase maritime partnership between UK and India; there is ample opportunity to expand AI partnership,” Modi said.
The path-breaking India-UK CETA will create new job opportunities for youth, expand trade and benefit both our industries as well as consumers. In this context, PM Starmer and I discussed trade linkages and economic ties between our nations in the times to come. @Keir_Starmer pic.twitter.com/zs5obf7Hh7
“Last year we launched joint research for innovation and technology with UK, we also created joint AI research center, have also decided to make industry guild for critical minerals,” Modi said.
He further announced that, “India and UK have decided to create offshore wind taskforces for sustainable energy.”
From defense, education to innovation, both nations are taking huge steps in collaboration, Modi noted.
Nine UK universities will open campus in India. Three campuses are already being built in Gift City, Modi said.
Meanwhile, Starmer priased India's vision to be developed economy and said, "PM Modi's vision to make India the 3rd largest economy by 2028 is remarkable" he further added that the nation's growth story itself is remarkable.
Starmer also said that all British universities will soon open their campus in India. "Demand for best quality education in India is very high," He said.
The UK PM also announced a deal to make bollywood films in the UK. He further added that, "UK & India stand side-by-side In global innovation and Tech."
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