PM Modi and UK PM Keir Starmer Unveil Landmark Free Trade Agreement and Vision 2035 at Chequers
Published on: July 24, 2025
By: [BTNI]
Location: London
In a landmark moment for India-UK relations, Prime Minister Narendra Modi and his British counterpart, Keir Starmer, jointly addressed the press at Chequers, the official country residence of the UK Prime Minister, to announce the signing of a historic Free Trade Agreement (FTA). This deal, described as a blueprint for shared prosperity, is set to boost bilateral trade by approximately USD 34 billion annually, fostering economic growth, job creation, and deeper cooperation between the two nations.
The FTA, finalized after three years of rigorous negotiations, marks a significant milestone as India’s most comprehensive trade pact and the UK’s most economically impactful deal since Brexit. Speaking at the press meet, PM Modi emphasized that the agreement is not merely an economic accord but a strategic partnership aimed at fostering prosperity for both countries.
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He highlighted that Indian textiles, footwear, gems, jewelry, seafood, and agricultural products will gain enhanced market access in the UK, with 99% of Indian exports benefiting from tariff elimination. This is expected to significantly uplift small artisans and Micro, Small, and Medium Enterprises (MSMEs) in India, providing them a competitive edge in the UK’s USD 23 billion market.UK Prime Minister Keir Starmer echoed Modi’s sentiments, calling the FTA a “major win” for both economies.
He noted that the deal will reduce tariffs on British goods like whisky, cars, medical devices, and cosmetics from an average of 15% to 3%, making products more affordable for Indian consumers. Notably, whisky tariffs will be slashed from 150% to 75%, with further reductions planned over the next decade. Starmer underscored that the agreement will create thousands of jobs and drive GBP 6 billion in investments, strengthening economic ties and benefiting working families in both nations.
Beyond trade, the leaders unveiled the UK-India Vision 2035, a renewed Comprehensive Strategic Partnership outlining collaboration in defense, technology, climate, education, and national security. Modi described the partnership as a “new chapter” in the shared history of India and the UK, emphasizing the cultural and historical bonds that form a “living bridge” between the two countries.
Starmer highlighted the deal’s role in his “Plan for Change,” aimed at boosting growth and addressing the cost-of-living challenges for British citizens.The press meet also touched on global challenges, with Modi expressing condolences for the victims of a recent Air India flight crash, including 52 British nationals, underscoring the deep ties between the two nations.
The leaders reaffirmed their commitment to tackling issues like illegal migration, organized crime, and climate change, while Modi invited Starmer for a reciprocal visit to India to further strengthen ties.
This historic agreement and the Vision 2035 roadmap signal a transformative era for India-UK relations, promising mutual prosperity and a robust partnership for the next decade.
