The early conclusion of the Comprehensive Free Trade Agreement Deal between India and the UK was discussed when Prime Minister Narendra Modi and the new British Prime Minister Rishi Sunak had a telephone conversation late Thursday evening (Oct 27, 2022).
Both leaders talked about the need to have a balanced free-trade deal between the two countries.
Following the telephone conversation with the new British Prime Minister Sunak, PM Modi tweeted: Congratulated him on assuming charge as UK PM. We will work together to further strengthen our Comprehensive Strategic Partnership. We also agreed on the importance of early conclusion of a comprehensive and balanced FTA.”
And the British PM responded to the tweet: “Thank You” and PM Modi was tagged.
The new British PM is the first Indian-origin leader of that country and in 200 years he is also the youngest leader to hold the top post in his country.
According to the full text of the conversation shared by the British High Commission in New Delhi, PM Modi during the conversation conveyed his best wishes on behalf of 1.6 billion Indians
The new British leader praised PM Modi’s leadership on tackling climate change and both leaders talked about bolstering defence, security and economic partnership.
Focus on early conclusion of the FTA
While agreeing to work together as two great democracies to strengthen the developing economies of the world, both leaders noted the progress in negotiations to finalise a comprehensive Free Trade Agreement between the two countries.
First meeting next month
Both the leaders are expected to meet in Bali on the sidelines of the G20 summit next month.
As reported earlier Britain’s Foreign Secretary James Cleverly is already in India and today he was in Mumbai to attend the ongoing UN Security Council’s Counter Terrorism Committee’s meeting. He will be in New Delhi tomorrow.
India-UK Trade Agreement
During his visit the two sides are expected to talk about strengthening bilateral relations between the two countries. This is his first visit as a reappointed foreign secretary by PM Sunak – this is a sign that the new Tory leader wants to give priority to building relationships with India.
The two sides have already completed the majority of the sections of the agreement being negotiated. The talks between Britain’s Foreign Secretary James Cleverly and foreign minister Dr S Jaishankar will also be focused on the UK-India 2030 Roadmap, the shared vision of the two countries which aims to re-energise not only trade and investments, but technological collaboration as well improve citizen lives in the coming years.
The sides are expecting the agreement will help reduce import and export barriers and will also boost bilateral trade by 2030 to more than US$ 100 billion.
In New Delhi on Saturday, the British Foreign Secretary will speak at a special meeting of the UN Security Council CTC meeting at Taj Palace. He will call on all countries to come together to fight live streaming of attacks, online terrorism, as well as global terror recruitment campaigns.
UK-India 2030 Roadmap
The Roadmap was launched earlier this year following which the trade talks commenced between the two countries, there has been expansion in security and defence partnerships as well as joint exercises. Also the two are collaborating to further strengthen cyber security collaboration.
In 2021, Financial Express Online had reported the arrival of HMS Queen Elizabeth. This is the Royal Navy’s largest and most powerful warship led by a fleet of its vessels and along with the Indian Navy had displayed unity between the two countries.