Delhi, 24 July (H.S.): PM Modi expressed gratitude to Prime Minister Starmer for the warm welcome, marking a historic day in bilateral relations with the finalization of the mutually beneficial Free Trade Agreement (FTA) between India and the UK on Thursday.

This agreement is described as a blueprint for shared prosperity, providing improved market access for Indian textiles, footwear, gems, jewelry, seafood, and engineering goods in the UK. It opens new opportunities for Indian agricultural products and processed food, benefiting Indian youth, farmers, fishermen, and MSMEs. The agreement also ensures that UK products, such as medical devices and aerospace parts, are accessible to Indian consumers at competitive prices.

In addition, a Double Contribution Convention is introduced to energize the services sector, particularly in technology and finance, enhancing the ease of doing business, lowering operational costs, and boosting confidence. Both nations stand to gain from increased investment and job creation, fostering global stability and prosperity among democratic nations.

To propel the comprehensive strategic partnership forward, Vision 2035 is launched as a roadmap for collaboration in technology, defense, climate, education, and people-to-people connections. A Defence Industrial Roadmap is established to enhance security cooperation, emphasizing collaboration in areas like AI, critical minerals, semiconductors, and cybersecurity.

In education, six UK universities are set to establish campuses in India, with Southampton University's campus recently inaugurated in Gurugram. Modi expressed gratitude to Starmer's government for condemning the terrorist attack in Pahalgam, affirming a unified stance against double standards in combating terrorism. There's an agreement on extraditing economic offenders, emphasizing accountability for those undermining democracy.

Dialogue also covered peace and stability in the Indo-Pacific, the Ukraine conflict, and the situation in West Asia, underscoring the necessity of respecting sovereignty and territorial integrity while advocating for development over expansionism. PM Modi extended condolences for the UK citizens lost in a tragic accident in Ahmedabad, recognizing the contribution of the Indian diaspora to UK society and culture.

Highlighting cricket's significance in India-UK ties, PM Modi portrayed it as a metaphor for their partnership, suggesting a commitment to a solid collaboration despite occasional setbacks. He reiterated gratitude for Starmer's hospitality and extended an invitation for a visit to India, emphasizing the milestones achieved through the agreements and Vision 2035 as pivotal to enhancing their relations.

Union commerce minister Piyush Goyal highlighted that the India-UK free trade agreement significantly benefits farmers with duty-free exports on nearly 95% of agricultural products and 99% for marine exports, enhancing fisherfolk incomes. It opens up about $23 billion in opportunities for labour-intensive sectors, fostering inclusive, gender-equitable growth. Artisans, weavers, and daily-wage labourers in MSMEs across various sectors like textiles and marine products will experience increased prosperity, particularly benefiting women through better access to finance and global value chains. The agreement will also transform manufacturing sectors such as engineering, electronics, and pharmaceuticals, providing consumers with high-quality goods at competitive prices. Additionally, India's IT, services, and education sectors will gain from easier access to the UK market, while Indian workers will benefit from a three-year exemption from UK social security contributions.

Prime Minister Narendra Modi arrived in the U.K. on Wednesday kicking off the first leg of his two-nation tour.

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Hindusthan Samachar / Jun Sarkar