India and the UK are “natural partners” and their growing ties stand as an important pillar of global stability and economic progress at a time the world is witnessing uncertainty, Prime Minister Narendra Modi said on Thursday. PM Modi made the remarks after his wide-ranging talks with British Prime Minister Keir Starmer.
In his media statement, PM Modi said the historic India-UK Comprehensive Economic and Trade Agreement inked in July will reduce import costs between the two countries, create new employment opportunities, boost trade, and benefit industries and consumers on both sides. “India and the UK are natural partners. Our relationship is built on the shared values of democracy, freedom, and the rule of law,” he said. “In today’s time of global uncertainty, our growing partnership stands as an important pillar of global stability and economic progress,” he added.
The two leaders also shared views on the Indo-Pacific, peace and stability in West Asia, and the ongoing conflict in Ukraine. Modi said India’s dynamism and the UK’s expertise have together created a “unique synergy”. “Our partnership is trustworthy, and driven by talent and technology. And today, as Prime Minister Starmer and I stand together on this stage, it is a clear reaffirmation of our shared commitment to work hand in hand towards building a brighter future for the people of both our nations,” he said.
Modi also touched upon the growing defence partnership between the two countries. “We are moving towards defence co-production and connecting the defence industries of both countries.” “Taking our defence collaboration a step further, we have signed an agreement for cooperation in military training, under which flying instructors from the Indian Air Force will serve as trainers with the UK’s Royal Air Force,” he said.
Modi said that the India-UK free trade pact will boost MSMEs and create jobs, and exuded confidence that the target of doubling bilateral trade will be achieved ahead of the target date of 2030. Addressing a CEO forum along with British Prime Minister Keir Starmer, Modi said the Comprehensive Economic and Trade Agreement (CETA) between India and the UK will provide stability at a time when the world is witnessing instability. “Today, India-UK bilateral trade stands at $56 billion. I am confident that the target of doubling it would be achieved ahead of the scheduled deadline of 2030,” Modi said.
Modi also said that nine UK universities will open campuses in India. In his address, Starmer asked industry leaders from India and UK to list out what the governments of both the countries could do to remove barriers stopping them from capitalising on opportunities. “We want to support you to maximize the potential in relation to this trade agreement,” Starmer said, adding that there has been a 6 billion pound boost in trade and investment in the three months since the CETA was signed in July. In his remarks, Starmer described the India-UK partnership as “special” that is focused on the future.India`s growth story is remarkable, he said.
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