Prime Minister Modi, while holding a key meeting with the UK Prime Minister Keir Starmer in Mumbai, said that combining the UK’s expertise in financial services with India’s Digital Public Infrastructure (DPI) can create immense benefits for all humanity. Highlighting that about 50 per cent of the world`s real-time digital transactions take place in India, PM Modi emphasised the UK`s involvement in the digital sector.
As reported by news agency ANI, addressing the India-UK CEO Forum, PM Modi said that the Comprehensive Economic and Trade Agreement (CETA) between the two countries is a roadmap for shared progress, shared prosperity, and shared people-to-people connections.
While PM Modi further highlighted UK-India trade pacts and several UK universities to be introduced in India, the event was also addressed by UK Prime Minister Keir Starmer.
Prime Minister Modi further said that the India-UK CETA will also empower MSMEs. “Amid the current global instability, this year has been remarkable. It has strengthened the stability of Bharat-UK relations. During my visit to the UK this July, we signed the Comprehensive Economic and Trade Agreement (CETA). I sincerely appreciate and congratulate my friend, Prime Minister Starmer, for his commitment and vision for this historic achievement,” Modi added.
PM Modi, while highlighting the roadmap for shared progress between India and the UK, further said that, “This is not merely a trade agreement; it is a roadmap for shared progress, shared prosperity, and shared people-to-people connections between two of the world`s major economies. Along with market access, this agreement will also empower MSMEs in both countries and open new avenues of employment for millions of young people,” as cited by news agency ANI.
To help CETA achieve its full potential, PM Modi also went ahead to present four new dimensions of this partnership.
He further stated that, “These dimensions will perhaps give it a much broader base: C stands for Commerce and Economy; E stands for Education and People-to-People Ties; T stands for Technology & Innovation, and A stands for Aspirations. Today, our bilateral trade stands at around 56 billion dollars. We have set a goal to double it by 2030, and I am confident that we can achieve this target ahead of time,” as cited by news agency ANI.
PM Modi, while attending the global fintech event on October 10 in Mumbai, also emphasised the need to convert possibilities into concrete collaborations with speed and determination.
“Today, countless new possibilities for cooperation are emerging between us in fields like telecom, AI, biotech, quantum technology, semiconductors, cyber, and space. In the defence sector, too, we are moving towards co-design and co-production. Now is the time to turn all these possibilities into concrete collaborations with speed and determination. We must move forward in a structured and coordinated way in strategic sectors such as critical minerals, rare earths, and APIs. This will give our partnership a futuristic direction,” as reported by ANI.
(With inputs from ANI)