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Keir Starmer confirms relaunch of India-UK trade deal negotiations
For Starmer, this marks his first direct engagement with Modi since taking office at 10 Downing Street.
File photo. / Reuters
Negotiations on the Free Trade Agreement (FTA) between India and the United Kingdom will resume early next year, Prime Minister Keir Starmer announced in Parliament following his participation in the G20 Summit in Brazil. The talks, which had stalled during their 14th round due to election cycles in both nations, aim to enhance the GBP 42-billion annual trade relationship between the two countries.
Starmer confirmed that his meeting with Indian Prime Minister Narendra Modi during the G20 Summit resulted in a "good discussion" and an agreement to restart FTA talks. Initially launched under a Conservative government, the negotiations will now proceed under the Labour-led administration.
Highlighting the economic significance of the FTA, Starmer said, “Boosting economic growth is crucial for improving living standards, and a new trade deal with India would support jobs and prosperity in the UK.”
Strengthening strategic partnerships
The UK Prime Minister underscored his intention to elevate the UK-India comprehensive strategic partnership, which encompasses sectors such as security, defence, technology, climate, health, and education. "We agreed to raise the ambition of our UK-India comprehensive strategic partnership," he stated, adding that trade and investment would serve as the cornerstone of this enhanced collaboration.
The UK India Business Council (UKIBC), which has been involved in discussions during the 13 rounds of negotiations, noted that significant progress has been made, with a majority of the agreement’s chapters already covered.
Renewed focus on trade strategy
The UK’s Department for Business and Trade (DBT) is preparing to unveil a new Trade Strategy aligned with the Industrial Strategy, aimed at steering future trade negotiations towards sustainable and inclusive growth. Business and Trade Secretary Jonathan Reynolds emphasised India’s critical role as a trading partner, noting its position as the world’s fifth-largest economy.
India’s Commerce and Industry Ministry confirmed that negotiations would pick up from where they left off, with both nations committed to bridging gaps quickly to finalise the agreement.
The resumption of talks reflects a shared commitment to build on previous progress and achieve mutual economic benefits. For Starmer, this marks his first direct engagement with Modi since taking office at 10 Downing Street. He reaffirmed that strengthening economic ties with India is part of a broader mission to deliver growth and opportunities across the UK.
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