Indian PM Modi and United Kingdom PM Starmer Ink Trade Trade

Prime Minister Keir Starmer praised the “unique bonds” of Great Britain with India while he and his Indian counterpart Narendra Modi formally signed a recently announced commercial agreement of India during Thursday's conversations.

Starmer praised the agreement as a “historical moment” for both countries, since he received the leader of India in his heritage of Ceckers Country, northwest of London.

“This is not the scope or limit of our collaboration with India,” added British Prime Minister, whose one -year government is fighting to light a weakened economy for years of stagnant growth and high inflation.

“We have unique links in history, family and culture and we want to strengthen our relationship even more, so that it is even more ambitious, modern and long -term focused,” he said.

Starmer and Modi announced in May that they had reached a free trade agreement that the British government says that it will eventually add 4.8 billion pounds (6.5 billion dollars) a year to the United Kingdom economy.

The United Kingdom and India expect the agreement to drive trade between the two countries in 25.5 billion pounds, as well as reinforcing the British economy and wages. Modi, standing next to Starmer during an appearance in the media, described the agreement as a “plan for our shared prosperity.”

Great Britain and India are the sixth and fifth largest global economies respectively, with a commercial relationship for a value of around 41 billion pounds and the investment that supports more than 600,000 jobs in both countries.

The agreement reduces the rates of imports of goods from the United Kingdom to India, including cosmetics, whiskey and medical devices. In return, the United Kingdom will reduce tariffs on clothing, footwear and food products.

Starmer and Modi have met twice recently, at the G7 summit in Canada last month and at the G20 meeting in Brazil last year. Modi also had to see King Carlos III during his brief stay in Great Britain, his fourth visit since he became the leader of India in 2014.