New Delhi [India], May 7 (HBTV): India and the United Kingdom on Tuesday successfully concluded a landmark Free Trade Agreement (FTA), along with a Double Taxation Avoidance Convention.

Prime Minister Narendra Modi announced the successful FTA deal, describing it as ambitious and mutually beneficial. He emphasised that the agreements would significantly strengthen the India-UK Comprehensive Strategic Partnership and boost trade, investment, innovation, and job creation across both economies.

Sharing a post on X, Prime Minister Modi stated: ‘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.’ He further added that these landmark agreements would deepen the Comprehensive Strategic Partnership and catalyse trade, investment, growth, job creation, and innovation in both economies. Modi also expressed his intent to welcome Prime Minister Starmer to India soon.

In an official statement, the Prime Minister's Office said that Shri Narendra Modi and Prime Minister of the United Kingdom Sir Keir Starmer held a telephone conversation during which they welcomed the successful conclusion of the FTA and the Double Contribution Convention. The leaders described the development as a historic milestone in the bilateral Comprehensive Strategic Partnership, one that would foster trade, investment, innovation, and job creation in both economies. They agreed that the landmark agreements between two of the world’s largest open market economies would open new opportunities for businesses, strengthen economic linkages, and deepen people-to-people ties.

Prime Minister Starmer noted that strengthening alliances and reducing trade barriers with global economies is a core part of the UK's Plan for Change aimed at delivering a stronger and more secure economy.

Both leaders reaffirmed that expanding economic and commercial ties remains a cornerstone of the robust and multifaceted India-UK partnership. The conclusion of a balanced, equitable, and ambitious FTA—covering trade in goods and services—is expected to enhance bilateral trade, generate new avenues for employment, raise living standards, and improve the overall well-being of citizens in both nations. It will also create new opportunities for the two countries to jointly develop products and services for global markets.

The agreement cements the strong foundations of the India-UK Comprehensive Strategic Partnership and marks the beginning of a new era of collaboration and prosperity. Prime Minister Modi extended an invitation to Prime Minister Starmer to visit India, and the two leaders agreed to remain in touch.(ANI)