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India, UK Sign Landmark Free Trade Agreement; PM Modi Hails ‘Historic Day’
Jul 24, 2025In a significant development in international trade and diplomacy, India and the United Kingdom on Thursday signed a historic Free Trade Agreement (FTA), aimed at deepening economic ties and boosting bilateral trade. The agreement was finalized during Indian Prime Minister Narendra Modi’s meeting with UK Prime Minister Keir Starmer at Chequers, the country residence of the British Prime Minister.
Calling it a "historic day in India-UK bilateral relations," Prime Minister Modi expressed satisfaction over the successful conclusion of the Comprehensive Economic and Trade Agreement (CETA) after years of negotiation and effort. He said the agreement lays a new foundation for shared prosperity and mutual growth between the two nations.
"This deal opens up significant market access for Indian goods including textiles, footwear, gems and jewellery, seafood, and engineering products in the UK," Modi stated. He also emphasized the potential for new opportunities for India’s processed food industry, while underlining the benefits the agreement will bring to India’s youth, farmers, fishermen, and MSMEs (Micro, Small and Medium Enterprises).
UK Prime Minister Keir Starmer described the FTA as the most economically significant trade deal the UK has signed since leaving the European Union. He thanked Prime Minister Modi for his leadership and pragmatic approach in finalizing the deal.
“This agreement will bring enormous benefits to both our countries,” Starmer said. “It will boost wages, raise living standards, and significantly improve our trade relationship. It’s good for business, cutting tariffs and making trade faster, cheaper, and easier.”
He further noted that the FTA would benefit a wide range of sectors across the UK, including cutting-edge manufacturing, whisky distilleries in Scotland, and the financial and service sectors in London, Manchester, and Leeds. He added that British consumers would also gain, as the deal would help lower the prices of Indian goods in the UK market.
According to estimates shared by the UK government, the agreement is expected to add £4.8 billion to the UK economy each year and increase annual wages by around £2.2 billion.
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