PM Narendar Modi On India-UK Trade Deal: Prime Minister Narendra Modi and Keir Starmer signed the Free Trade Agreement (FTA) deal today, July 24, 2025, at Chequers, the official country residence of the British prime minister, with the goal of enhancing the economies of both nations.
Through the reduction or elimination of tariffs imposed on trade, the deal is expected to double the bilateral trade from 60 billion euros to 120 billion euros by 2030, boosting the economic growth of both the countries.
The FTA seeks to open up the Indian markets for textiles, footwear, gems, seafood, and engineering goods to the UK, promoting mutual growth. Prime Minister Narendra Modi also stated, "The cost of doing business will go down, and confidence of business will go up".
During their meeting today to sign the FTA, PM Narendra Modi talked about the openings of new six British campuses in India and the Southampton University's recent inauguration of a campus in Gurugram, India.
He said, "Friends, Even in the Education sector also, both countries together are writing a new chapter. UK's six universities are opening campuses in India. Just last week, in India's Gurugram city, the Southampton university was inaugurated".
The Southampton university opened the campus in Gurugram on July 16, 2025, and became the first foreign university to open a foreign campus in India.
India and the UK share a strong partnership, with the elevation of their relationship to Comprehensive Strategic Partnership in 2021, it focused on key sectors such as trade, defence, energy, education, and people-to-people ties.
As reported by UK government, their exports to India amounted to 17.1 billion euros in 2024, while India's exports to UK were 25.5 billion euros. The total trade of goods and services (exports plus imports) amounted to 42.6 billion euros, making India the UK's 11th largest trading partner to the end of fourth quarter of 2024.
