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Last Updated:May 06, 2025, 18:45 IST
Bilateral trade between India and the UK increased to $21.34 billion in 2023-24 from $20.36 billion in 2022-23. The average duty on goods imported from India into the UK is 4.2%
Prime Minister Narendra Modi and UK counterpart Keir Starmer announced that their respective nations have agreed to a free trade agreement. (IMAGE: REUTERS FILE)
The Prime Ministers of India and the United Kingdom announced on Monday that both nations have completed a free trade agreement. Prime Minister Narendra Modi in a social media post welcomed the successful conclusion of the India–UK Free Trade Agreement along with the Double Contribution Convention.
“Prime Minister Shri Narendra Modi and Prime Minister of the United Kingdom H.E. Sir Keir Starmer had a telephone conversation today. The two leaders welcomed the successful conclusion of an ambitious and mutually beneficial India–UK Free Trade Agreement along with the Double Contribution Convention," a statement released by the government said.
The UK Prime Minister, Keir Starmer, reacted to the signing of the trademark deal by saying that “strengthening alliances and reducing trade barriers with economies around the world is part of their Plan for Change to deliver a stronger and more secure economy".
As per Narendra Modi’s post on social media, both Prime Ministers also spoke over the telephone. “Delighted to speak with my friend PM Keir Starmer. In a historic milestone, India and the UK have successfully concluded an ambitious and mutually beneficial Free Trade Agreement, along with a Double Contribution Convention. These landmark agreements will further deepen our Comprehensive Strategic Partnership, and catalyse trade, investment, growth, job creation, and innovation in both our economies," PM Modi said in a social media post on X.
He also invited his English counterpart to India for a visit. “I look forward to welcoming PM Starmer to India soon," he said.
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Location :New Delhi/London
First Published:News business PM Modi, UK's Starmer Announce Landmark Free Trade Pact With Focus On Investment, Job Creation
