Monday , Nov. 25, 2024, 11:19 a.m.
News thumbnail
Top / Sat, 06 Jul 2024 Hindustan Times

Modi, Starmer agree to work towards early conclusion of Free Trade Agreement

Prime Minister Narendra Modi and his British counterpart Keir Starmer on Saturday decided to focus on the early conclusion of a mutually beneficial free trade agreement (FTA) and to take forward the bilateral strategic partnership. “The two leaders agreed to work towards early conclusion of a mutually beneficial India-UK Free Trade Agreement,” said a readout on the conversation from the external affairs ministry. During the conversation, Modi congratulated Starmer on assuming office and for Labour’s “remarkable victory”, the Indian readout said. Both leaders reaffirmed their commitment to deepen and advance the India-UK comprehensive strategic partnership. According to the British statement, Starmer congratulated Modi on his election victory and said he looked forward to “deepening the strong and respectful relationship” between the two countries.

Prime Minister Narendra Modi and his British counterpart Keir Starmer on Saturday decided to focus on the early conclusion of a mutually beneficial free trade agreement (FTA) and to take forward the bilateral strategic partnership. Prime Minister Narendra Modi (right) and his British counterpart Keir Starmer (left). (File Photos)

Modi spoke on phone with Starmer a day after the Labour Party scored a landslide victory in the UK election, winning 412 seats in the 650-member House of Commons. With fixing the UK economy being one of Starmer’s priorities, analysts expect the strong mandate secured by Labour to help the new government to push through the FTA with India.

“The two leaders agreed to work towards early conclusion of a mutually beneficial India-UK Free Trade Agreement,” said a readout on the conversation from the external affairs ministry.

A statement from the UK Prime Minister’s Office quoted Starmer as saying that he “stood ready to conclude a deal that worked for both sides”.

India and the UK launched negotiations for an FTA in January 2022 and have held 14 rounds of talks so far. While the two sides have been able to reach common ground on numerous matters, the negotiations have stalled because of differences on tricky issues such as market access and tariffs on automobiles and alcohol.

During the conversation, Modi congratulated Starmer on assuming office and for Labour’s “remarkable victory”, the Indian readout said.

Both leaders reaffirmed their commitment to deepen and advance the India-UK comprehensive strategic partnership. While noting the contributions of the Indian community to the social, economic and political development of the UK, the two sides agreed to continue to promote close people-to-people ties.

Modi also invited Starmer to make an early visit to India.

According to the British statement, Starmer congratulated Modi on his election victory and said he looked forward to “deepening the strong and respectful relationship” between the two countries. He also welcomed Modi’s “leadership on key global challenges, such as climate change and economic growth”.

Discussing the importance of the “living bridge” between the UK and India and the Roadmap 2030, a document guiding bilateral relations, the leaders “agreed there was a wide range of areas across defence and security, critical and emerging technology, and climate change, for the two countries to deepen cooperation on”, the statement said.

In a post on X, Modi added, “Pleased to speak with @Keir_Starmer…We remain committed to deepening Comprehensive Strategic Partnership and robust [India-UK] economic ties for the progress and prosperity of our peoples and global good.”

Modi had earlier congratulated Starmer on X on Friday, saying he looked forward to positive and constructive collaboration to further strengthen the India-UK strategic partnership.

In a separate post on X on Friday, Modi also thanked outgoing UK premier Rishi Sunak. “Thank you @RishiSunak for your admirable leadership of the UK, and your active contribution to deepen the ties between India and the UK during your term in office. Best wishes to you and your family for the future,” he said.

logo

Stay informed with the latest news and updates from around India and the world.We bring you credible news, captivating stories, and valuable insights every day

©All Rights Reserved.