In a historic development for international trade, the United Kingdom and India have formally signed one of the most significant and economically transformative free trade agreements since Britain’s departure from the European Union. Hailed as a landmark in diplomacy and economic cooperation, this agreement is being widely recognized as not only the most comprehensive deal India has ever signed but also the biggest the UK has entered into post-Brexit.
UK Prime Minister, in a recent address marking the signing of the deal, emphasized its far-reaching implications. "Look, and we both know this is the biggest and most economically significant trade deal that the UK has made since leaving the EU," the Prime Minister stated. "And I think I can say that it's one of the most comprehensive deals that India has ever done."
He extended his gratitude to Prime Minister Narendra Modi for his leadership and pragmatic approach, acknowledging the collaborative spirit that made this agreement possible. He also commended the tireless efforts of both nations’ negotiators and officials who worked diligently to finalize the deal.
The trade agreement is set to deliver substantial economic benefits to both countries. For the United Kingdom, this FTA is projected to add approximately £4.8 billion to the economy every year. Additionally, it is expected to contribute around £2.2 billion to wages across the UK. What makes this deal particularly impactful is its inclusive economic reach—hundreds of millions of pounds are expected to be injected into regions and nations throughout the UK, creating jobs, boosting investment, and strengthening local industries.
From a consumer standpoint, the deal is also poised to have immediate and tangible effects. British consumers will benefit from lower prices on a wide range of Indian goods, including clothing, footwear, and food products. This price drop comes as a result of reduced tariffs and streamlined trade flows between the two countries.
"This deal is good for consumers because it will bring down prices on Indian goods in the United Kingdom like clothes and shoes and food. And it will deliver benefits for the long term," the Prime Minister affirmed.
The Free Trade Agreement also signals a broader strategic alignment between the two democracies, reinforcing their commitment to mutual growth, innovation, and global cooperation. With the deal now officially signed, both nations are looking ahead to its implementation, which will mark a new era of enhanced bilateral relations.
