Modi In London Today: Landmark India-UK Trade Deal, Key Meeting With King Charles Check PM's Full Itinerary Here

(MENAFN- Live Mint) Prime Minister Narendra Modi kicked off his two-day visit to the UK on Wednesday (local time) to expand bilateral ties in defence, trade, and technology. The formalisation of the landmark India-UK free trade deal is set to be a major outcome of his trip.

PM Modi will hold wide-ranging talks with his British counterpart, Keir Starmer, today. The talks are expected to focus on imparting new momentum in the strategic ties between the two countries.

Also Read | PM Modi receives a heartfelt reception from the Indian diaspora in the UK

Starmer is set to host Modi for the talks at Chequers, the official country residence of the British prime minister that is located 50 km northwest of London.

People familiar with the matter were quoted as saying to news agency PTI that Commerce Minister Piyush Goyal and his British counterpart Jonathan Reynolds will likely sign the FTA in the presence of the two prime ministers on Thursday.

Free Trade Deal in Focus

In May, India and the UK sealed the free trade agreement, which is expected to benefit 99 per cent of Indian exports from tariffs. The agreement will also make it easier for British firms to export whisky, cars, and other products to India, boosting the overall trade basket.

The trade deal, firmed up after three years of negotiations, is expected to ensure comprehensive market access for Indian goods across all sectors. According to officials, India will gain from tariff elimination on about 99 per cent of tariff lines (product categories) covering almost 100 per cent of the trade values.

In his departure statement, Modi said India and UK share a comprehensive strategic partnership that has witnessed significant progress in recent years.

"Our collaboration spans a wide range of sectors, including trade, investment, technology, innovation, defence, education, research, sustainability, health and people-to-people ties," he said.

Also Read | India, UK successfully conclude FTA, PM Modi announces

The India-UK bilateral trade crossed USD 55 billion in 2023-24. The UK is the sixth largest investor in India, with a cumulative investment of USD 36 billion.

Thanks, Indian Diaspora

India's investments in the UK are close to USD 20 billion, and some 1,000 Indian companies operating in Britain provide employment to almost 100,000 people.

Upon landing in London, PM Modi thanked the Indian diaspora in the United Kingdom for their warm welcome, describing their enthusiasm and dedication to India's development as "truly heartening."

"Touched by the warm welcome from the Indian community in the UK. Their affection and passion towards India's progress is truly heartening," the PM said on X.

PM Modi's foreign trip comes in the middle of Monsoon Session of Parliament that began on July 21.

The visit to the UK is at the invitation of Prime Minister Keir Starmer, the Ministry of External Affairs said earlier this week.

Also Read | PM Modi to speak on Op Sindoor in Parliament next week

Besides holding wide-ranging talks with British Prime Minister Keir Starmer , Modi will also meet King Charles III today.

From London, Modi will travel to the Maldives at the invitation of President Mohamed Muizzu in what is being seen as a breakthrough in the ties between the two countries following a spell of frostiness under Muizzu.

Full itinerary for 24 July

-2.30 PM to 5.30 PM (IST) Bilateral Meeting with PM Starmer.

-6.30 PM (IST)- Press Briefing by Foreign Secretary Vikram Misri.

-9 PM (IST): Meeting with Charles III, King of the UK.

Touched by the warm welcome from the Indian community in the UK. Their affection and passion towards India's progress is truly heartening.

(With agency inputs)

Key Takeaways

• The India-UK free trade agreement is expected to benefit 99% of Indian exports, enhancing economic collaboration.
• Modi's visit signals a renewed commitment to strengthening strategic ties between India and the UK after a period of tension.
• The Indian diaspora plays a crucial role in fostering bilateral relations, contributing significantly to both economies.

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