Prime Minister Modi departs for the UK. The India-UK Free Trade Agreement is expected to be signed during this visit. The agreement is expected to boost bilateral trade to $120 billion by 2030.
PM Modi Visit: Prime Minister Narendra Modi will depart for the UK today. This visit is considered a significant step for India-UK relations. During this visit, the long-discussed Free Trade Agreement (FTA) between the two countries is likely to be signed. This agreement aims to increase bilateral trade to US$120 billion by 2030.
Preparations to Finalize India-UK FTA
According to Indian High Commissioner Vikram Doraiswami, this agreement is now in its final legal stage. The terms agreed upon during the discussions between the two countries on May 6 are being finalized. It is believed that the agreement will be formally signed during the meeting between Prime Minister Modi and UK Prime Minister Keir Starmer.
What is the Objective of this Agreement?
The purpose of this Free Trade Agreement is not only to reduce tariffs but also includes several important points related to trade rules, customs arrangements, identification of original products, government procurement, and the service sector. This agreement will provide a clear direction and stability to the trade relations between India and the UK.
Traders Will Get a Better Framework
When this agreement is approved by the parliaments of both countries, traders will get a clear and predictable framework. This will make the rules more transparent and make it easier to do business. This will benefit the industries of both countries, and an increase in bilateral trade can be seen.
PM Modi's UK Visit Schedule
Prime Minister Modi is likely to arrive in London on Wednesday evening, local time. After this, he will meet with British Prime Minister Starmer on Thursday. During this meeting, representatives from both countries can sign the final agreement.
A Moment of Pride for the Indian Community in the UK
The Indian High Commissioner stated that although the Prime Minister's visit is only for 24 hours, its importance is very high. This shows how much priority India gives to this strategic partnership.
Prime Minister Modi's visit is taking place at a time when the parliamentary session is also underway. Yet, this visit has been prioritized, indicating that India is committed to strengthening relations with traditional partners.
Meeting with King Charles Also Scheduled
During PM Modi's visit, a meeting with King Charles III of the UK is also scheduled. During his 2018 visit, he jointly launched the Ayurvedic Center of Excellence with the then Prince of Wales. This time too, the two leaders are expected to discuss topics such as health, environment, and lifestyle.
A high-level business delegation will also accompany the Prime Minister during this visit. This delegation will discuss potential partnerships and investment opportunities with the UK's business community.
Visit to Maldives Also Included
After the UK, Prime Minister Modi will travel to the Maldives. There, he will participate as a 'Guest of Honour' in the ceremony held on July 26 to mark the 60th anniversary of independence.
This visit by the Prime Minister could bring a new turn in India-UK relations. This visit is expected to give a new direction to the strategic partnership between the two countries. Cooperation in the fields of trade, investment, health, environment, and culture is likely to be strengthened.
