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India-UK free trade deal: Modi and Starmer to sign 'landmark' agreement India-UK free trade deal: Modi and Starmer to sign 'landmark' agreement
(32 minutes later)
Prime Minister Modi will hold talks with his UK counterpart Kier Starmer on ThursdayPrime Minister Modi will hold talks with his UK counterpart Kier Starmer on Thursday
Indian Prime Minister Narendra Modi is in the UK amid reports that the two countries will announce a landmark free trade deal. India and Britain are set to sign a free trade deal which they say will lead to a multi-billion dollar boost in exports for the two countries.
Modi is expected to sign the long-awaited deal on Thursday, which will cut tariffs on goods and increase market access for both countries. India will lower tariffs on British whisky, gin and other drinks as well as cars. The UK in turn will import more of India's textiles, gemstones and other goods.
He is also set to hold talks with Prime Minister Keir Starmer and meet King Charles before departing for the Maldives. Indian Prime Minister Narendra Modi is in the UK to sign the deal. He will also hold talks with Prime Minister Sir Keir Starmer and meet King Charles.
The India-UK free trade deal comes after nearly three years of negotiations and amid turmoil sparked by US President Donald Trump's threat of added tariffs. The UK government says the deal - announced in May after years of negotiations - will boost the British economy by £4.8bn a year. It comes after nearly three years of negotiations.
Negotiations on the deal concluded in May and the pact is expected to boost bilateral trade by an additional £25.5bn a year by 2040. Last year, trade between the UK and India totalled £42.6bn.Negotiations on the deal concluded in May and the pact is expected to boost bilateral trade by an additional £25.5bn a year by 2040. Last year, trade between the UK and India totalled £42.6bn.
But it might take at least a year for the deal to come into effect after it is approved by the UK parliament. The deal was okayed by Indian cabinet earlier this week, news agency PTI reported on Tuesday. But it might take at least a year for the deal to come into effect after it is approved by the UK parliament. The deal was okayed by the Indian cabinet earlier this week, news agency PTI reported on Tuesday.
In May, Modi said the deal was a historic milestone that was "ambitious and mutually beneficial".In May, Modi said the deal was a historic milestone that was "ambitious and mutually beneficial".
The pact would help "catalyse trade, investment, growth, job creation, and innovation in both our economies", he said in a post on social media platform X.The pact would help "catalyse trade, investment, growth, job creation, and innovation in both our economies", he said in a post on social media platform X.
On Wednesday, Mr Starmer called the "landmark" deal a major win for Britain. On Wednesday, Sir Keir called the "landmark" deal a major win for Britain.
"It will create thousands of British jobs across the UK, unlock new opportunities for businesses and drive growth," he said."It will create thousands of British jobs across the UK, unlock new opportunities for businesses and drive growth," he said.
The deal will make it easier for UK firms to export whisky, cars and other products to India, and will cut taxes on India's clothing and footwear exports.The deal will make it easier for UK firms to export whisky, cars and other products to India, and will cut taxes on India's clothing and footwear exports.
Indian manufacturers are also expected to gain access to the UK market for electric and hybrid vehicles.Indian manufacturers are also expected to gain access to the UK market for electric and hybrid vehicles.