Prime Minister Narendra Modi praised the signing of the landmark India-UK Free Trade Agreement on Thursday, calling it a major milestone in strengthening bilateral ties

During a joint press statement with UK Prime Minister Keir Starmer, Prime Minister Modi emphasised the expanded market access and economic opportunities the agreement brings for both countries, while also thanking the UK for the warm hospitality extended during his official visit

Earlier today, the much-awaited landmark India-UK FTA was signed in the presence of PM Modi and Keir Starmer, providing greater access to goods and services between the two countries. PM Modi is currently on a two-day official visit to the UK

"On one hand, Indian textiles, footwear, gems and jewellery, seafood, and engineering goods will now have better access to the UK market. Indian agricultural products and processed food industries will also find new opportunities in the UK. This agreement will prove beneficial to the youth, farmers, fishermen, and the MSME sector in India," PM Modi said

On the other hand, people and industries in India will be able to access products made in the UK--such as medical devices and aerospace components--at more affordable prices," he further noted

The trade deal aims to eliminate or reduce tariffs on imports and exports between India and the UK, making products from both countries more competitive in each other's markets. Both nations have set a target to boost bilateral trade to USD 120 billion by 2030

The FTA is expected to boost key sectors such as textiles, leather, footwear, sports goods and toys, marine products, gems and jewellery, engineering goods, auto parts and engines, and organic chemicals