British Prime Minister Keir Starmer has announced the resumption of stalled talks for a free trade agreement with India and said Britain will seek “new strategic partnerships”.
Following his meeting with Prime Minister Narendra Modi on the sidelines of the G20 summit on Monday, Mr Starmer said: “A new trade deal with India will support jobs and prosperity in the UK – and a step in our mission to deliver growth Will represent a step forward.” Opportunities across our country”.
A statement from his office about their meeting said, “The UK will seek a new strategic partnership with India, including a trade agreement as well as deepening cooperation in areas such as security, education, technology and climate change.” “Involves doing.”
“For India, the comprehensive strategic partnership with the UK is of utmost priority,” PM Modi said in a post on Twitter. “In the coming years, we look forward to working together in areas such as technology, green energy, security, innovation and technology. We want to strengthen trade as well as cultural ties”, he said.
He described his meeting with Mr Starmer as “extremely useful”. It was his first meeting with Mr Starmer, who was elected in July by defeating Labor Prime Minister Rishi Sunak.
The Ministry of External Affairs (MEA) said the two leaders were confident that their negotiators would create a “balanced, mutually beneficial and forward-looking free trade agreement”. It said India will open two new Consulates General – or Deputy High Commissions – in Belfast and Manchester to better serve the Indian diaspora.
The Ministry of External Affairs also noted that PM Modi raised the complex issue of India’s alleged economic offenders living in Britain, whom New Delhi wants to extradite. Prominent among those India is looking for is Vijay Mallya, the once high-flying liquor and airline tycoon who has evaded extradition for years. Others include diamond merchant Nirav Modi and cricket administrator Lalit Modi.
Post-Brexit – Britain’s separation from the European Union – it has sought to broaden economic ties with India and other countries. British Trade Secretary Jonathan Reynolds said, “The deal (with India) is vital to delivering on this government’s core mission of driving economic growth”.
Mr Starmer’s statement said, “The UK remains committed to negotiating a trade deal with India – one of the fastest growing economies in the world”. Regarding British priorities in a trade agreement, Reynolds noted “reducing Indian tariffs to help British companies export into this dynamic market”. “Promoting investment that already supports more than 600,000 jobs in both countries” is another matter, he said.
“India is the world’s fifth largest economy and an important trading partner for the UK. We believe there is a good deal to be done here that will work for both countries”, he said, adding, “A deal with India would boost the UK’s trade relationship, worth £42 billion in the 12 months to June 2024.” billion ($53.22 billion). Prime Minister’s Office said.
“UK exports to India worth £16.6 billion ($19.77 billion).”
Trade talks between India and Britain had lasted for several years and were canceled in March.
Since then, there has been a change of government in Britain and the Conservatives have bowed to the Labor Party and PM Modi has won the election for the third time. One issue in those talks was increasing visas for students and businessmen from India.
For Britain, it was reducing duties on whiskey and automobiles, and easier access to Indian markets for its service sector.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
