India growing force on world stage: UK PM Starmer updates Parliament on Mumbai visit

London: British Prime Minister Keir Starmer on Tuesday briefed the House of Commons on the two-day Mumbai visit of the country’s largest trade delegation to India and signed deals worth around 1.3 billion pounds.

Addressing Parliament after recess this week, Starmer said both countries were united on the future after a “historic” trade deal was signed in July to open new opportunities for businesses and boost job creation.

The India-UK Comprehensive Economic and Trade Agreement (CETA), signed during Prime Minister Narendra Modi’s visit to the UK two months ago, is expected to significantly increase the bilateral trade partnership from the current £44 billion annually.
“India is a growing power on the world stage and is on track to become the third largest economy by 2028,” Starmer said.

“So, in addition to the bond we already share, the living bridge of family and history, we are also united by the future and the incredible opportunities we see ahead of us. That’s why, in July, we signed a historic trade agreement that opens new opportunities for British businesses in India. That’s why last week, I led the largest ever British trade mission to India,” he said.

Starmer, who briefed British MPs on his meetings with Modi during his first official visit to India as British prime minister, underlined that more British universities are preparing to open campuses in India, making Britain a leading international education provider in the country. “We are deepening the UK-India Technology Security Initiative to increase opportunities for our brilliant technology sector. We have also announced new deals and investments here in the UK, including in advanced manufacturing, defence, car manufacturing and Bollywood film production. “These investments in the UK are worth £1.3bn and will create 10,600 jobs. “This is a real change that people will see in their communities, all over the country,” he said.

A joint statement issued after the Modi-Starmer Mumbai dialogue last week said both leaders look forward to the ratification of the India-UK CETA in the UK parliament “as early as possible” and also welcome the re-establishment of the Joint Economic and Trade Committee (JETCO), which will support the management and use of CETA and take forward the wider trade and investment partnership.

Starmer, who led a delegation of 127 business chiefs, entrepreneurs and university vice-chancellors to Mumbai on October 8 and 9, promised to open more doors for British businesses in India with an “ambitious” Free Trade Agreement aimed at reducing tariffs and making trade “faster, cheaper and easier”.