PM Modi in London on two-day pivotal trip
PM Modi in London on two-day pivotal trip
PM Modi is already in London UK on a pivotal two-day trip which will focus on enhancing bilateral ties in trade, defence, and technology. The highlight will be the signing of a historic free trade agreement expected to benefit both nations significantly.
Earlier on his arrival at the Heathrow airport, PM Modi was accorded a warm welcome from the members of the Indian Diaspora, in London.
The formalisation of the landmark India-UK free trade deal is set to be a major outcome of his trip.
PM Modi will hold wide-ranging talks with his British counterpart, Keir Starmer, today, Thursday and the talks are expected to focus on imparting new momentum in the strategic ties between the two countries.
Starmer is set to host Modi for the talks at Chequers, the official country residence of the British prime minister that is located 50 km northwest of London.
People familiar with the matter were quoted as saying to a news agency that Commerce Minister Piyush Goyal and his British counterpart Jonathan Reynolds signed the FTA in the presence of the two prime ministers on Thursday.
Free Trade Deal in Focus
This year in May, India and the UK sealed the free trade agreement, expected to benefit 99 per cent of Indian exports from tariffs. The agreement will also make it easier for British firms to export whisky, cars, and other products to India, boosting the overall trade basket.
The trade deal, firmed up after three years of negotiations, is expected to ensure comprehensive market access for Indian goods across all sectors. As per officials, India will gain from tariff elimination on about 99 per cent of tariff lines (product categories) covering almost 100 per cent of the trade values.
Prior to his departure to London and Maldives PM made a statement that India and UK share comprehensive strategic partnership that in the recent years has witnessed significant progress.
Adding that”Our collaboration spans a wide range of sectors, including trade, investment, technology, innovation, defence, education, research, sustainability, health and people-to-people ties.
PM made an announcement that the India-UK bilateral trade crossed USD 55 billion in 2023-24. The UK is the sixth largest investor in India, with a cumulative investment of USD 36 billion.
India’s investments in the UK are close to USD 20 billion, and some 1,000 Indian companies operating in Britain provide employment to almost 100,000 people.
Upon landing in London, PM Modi thanked the Indian diaspora in the United Kingdom for their warm welcome, describing their enthusiasm and dedication to India’s development as “truly heartening.”
Touched by the warm welcome from the Indian community in the UK PM further addded that their affection and passion towards India’s progress is truly heartening.
PM Modi’s foreign trip comes in the middle of Monsoon Session of Parliament that began on July 21.
The visit to the UK is at the invitation of Prime Minister Keir Starmer, the Ministry of External Affairs said earlier this week.
PM Modi will hold
Wide-ranging talks with British Prime Minister Keir Starmer, Modi will also meet King Charles III today.
From London, Modi will travel to the Maldives at the invitation of President Mohamed Muizzu in what is being seen as a breakthrough in the ties between the two countries following a spell of frostiness under Muizzu.
News Edit KV Raman
