UK Prime Minister Keir Starmer on Tuesday held a telephonic conversation with his Indian counterpart, Narendra Modi, over the completion of the Free Trade Agreement (FTA), which the former said was a “historic occasion” between the two countries.
According to a nearly 50-second audio clip shared by Mr Starmer on X, the two Prime Ministers congratulated each other and agreed that the trade deal would strengthen their “strategic partnership”.
The multi-billion-pound trade deal locks in reductions on 90% of tariff lines and is expected to add 4.8 billion pounds annually to the British economy by 2040.
Here are the excerpts from the telephonic conversation between Mr Modi and Mr Starmer:
PM Modi: Hello, Excellency
PM Starmer: Congratulations Prime Minister. We’ve achieved something truly historic today. This is the biggest deal the UK has done since we left the EU. And I think I’m right in saying it’s the most ambitious that India has ever done.
PM Modi: The credit goes to your vision and to your decisive leadership. The deal will further strengthen the UK-India strategic partnership.
PM Starmer: This is a deal that will raise living standards, put more money in the pockets of British working people and deepen the unique ties between our two nations. Thank you very much for this call. Thank you for your leadership, Prime Minister. Today is a very important historic occasion between our two countries. Thank you. (Conversation ends)
The deal was finalised by Commerce and Industry Minister Piyush Goyal during his talks with UK Business and Trade Secretary Jonathan Reynolds in London on Friday.
The trade deal with India will raise living standards, put more money in the pockets of British working people, and deepen the unique ties between our two nations. pic.twitter.com/TAXsPPN9Pv
— Keir Starmer (@Keir_Starmer) May 6, 2025
In a statement earlier in the day, Mr Starmer said the UK has signed the deal with India, which, he claimed, is “one of the fastest growing economies in the world, which will grow the economy and deliver for British people and business”.
Mr Modi, in a post on X, said: “In a historic milestone, India and the UK have successfully concluded an ambitious and mutually beneficial Free Trade Agreement, along with a Double Contribution Convention. These landmark agreements will further deepen our Comprehensive Strategic Partnership, and catalyse trade, investment, growth, job creation, and innovation in both our economies.”
The trade deal, firmed up after three years of negotiations, will ensure comprehensive market access for Indian goods across all sectors and India will gain from tariff elimination on about 99% of tariff lines (product categories) covering almost 100 per cent of the trade values, according to an Indian statement, news agency PTI reported.
