UK’s Keir Starmer Meets PM Modi, Strives for India Trade Deal Unachieved by Rishi Sunak

British Prime Minister Keir Starmer announced plans to revive trade negotiations with India following his meeting with PM Narendra Modi during the G20 summit in Brazil. Starmer emphasized that enhancing trade with India is crucial for bolstering the UK’s economy, calling it a step toward delivering growth and opportunity at home. The bilateral discussions focused on strengthening ties and pursuing a new strategic partnership, including a Free Trade Agreement (FTA) and collaborations in security, education, technology, and climate change.

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Modi Highlights Comprehensive Strategic Partnership

PM Modi described his meeting with Starmer as “extremely productive,” reaffirming India’s priority on fostering its Comprehensive Strategic Partnership with the UK. Modi emphasized the potential for collaboration in areas like green energy, innovation, and technology. Both leaders expressed a shared commitment to resuming FTA negotiations swiftly, aiming for a balanced and mutually beneficial agreement.

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Stalled Negotiations Pose Challenges for Progress

The India-UK FTA talks, launched in January 2022, have faced significant delays, with discussions halting after 14 rounds over two years. Previous efforts to finalize the agreement under former UK PM Rishi Sunak fell short due to unresolved issues in goods, services, and investment. Starmer acknowledged the challenges ahead but reiterated his focus on economic growth and the importance of securing an agreement with one of the world’s fastest-growing economies.

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Growing Economic Ties Between India and the UK

The UK’s trade relationship with India totaled £42 billion in the year ending June 2024, with British exports accounting for 40% of this figure. The proposed FTA aims to provide British businesses with greater access to India’s expanding market while overcoming existing tariff barriers. The agreement covers a wide range of areas, including goods, services, investments, and intellectual property, promising to deepen economic ties and create opportunities for both nations.

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