India-UK Trade Pact To Boost MSMEs, Create Jobs, Says PM Modi
Addressing a CEO forum alongside British Prime Minister Keir Starmer, PM Modi said the Comprehensive Economic and Trade Agreement (CETA) between India and the UK will provide stability at a time when the world is witnessing instability.
By Orlin Milinov
New Delhi:
Prime Minister Narendra Modi on Thursday said that the recently signed India-UK Free Trade Agreement will give a major boost to micro, small, and medium enterprises (MSMEs), while also generating new employment opportunities across both nations.
Speaking at a joint CEO forum with British Prime Minister Keir Starmer, PM Modi expressed confidence that the Comprehensive Economic and Trade Agreement (CETA) will bring long-term economic stability and strengthen bilateral cooperation amid global uncertainty.
“Today, India-UK bilateral trade stands at USD 56 billion. I am confident that the target of doubling it will be achieved well before the scheduled deadline of 2030,” PM Modi said.
He also announced that nine leading UK universities will soon open campuses in India, marking a new chapter in educational collaboration between the two nations.
Trade Deal To Strengthen Economic Partnership
Prime Minister Keir Starmer, who joined the forum with a delegation of 125 top British business leaders, entrepreneurs, and educators, called on industry stakeholders from both countries to identify and address key barriers to trade expansion.
“We want to support you to maximize the potential in relation to this trade agreement,” Starmer said, highlighting that bilateral trade and investment have already grown by £6 billion within just three months of the agreement being signed in July.
The British leader arrived in Mumbai on Wednesday for a two-day visit aimed at deepening economic and strategic ties with India.
A Landmark Agreement For Growth And Stability
The landmark CETA agreement, finalized during PM Modi’s visit to London in July, aims to reduce tariffs, increase market access, and facilitate smoother trade flows between the two nations.
The deal is expected to help both economies achieve their shared goal of doubling bilateral trade by 2030, while also encouraging investments in key sectors including technology, manufacturing, renewable energy, and higher education.
PM Modi emphasized that the partnership between India and the UK represents “a beacon of stability in an increasingly unstable world,” adding that both nations stand committed to creating sustainable growth and innovation-driven opportunities for their citizens.
