UK PM Keir Starmer Secures £1.3 Billion in Deals During Historic India Trade Mission

British Prime Minister Keir Starmer has reported to the House of Commons regarding his recent two-day visit to Mumbai, where he led the UK's largest trade delegation to India, securing deals valued at approximately 1.3 billion pounds.

Speaking to Parliament upon its return from recess, Starmer emphasized that both nations are connected by future opportunities following the "historic" trade agreement reached in July, which aims to create new prospects for businesses and stimulate job growth.

The Comprehensive Economic and Trade Agreement (CETA) between India and the UK, signed during Prime Minister Narendra Modi's visit to the UK two months ago, is anticipated to substantially enhance the bilateral trade relationship from its current level of 44 billion pounds annually.

"India is a growing force on the world stage, on track to have the third largest economy by 2028," Starmer stated in his address.

He further elaborated: "In addition to the bond we already shared, the living bridge of family and history, we are also united by the future and the incredible opportunities that we see before us. That's why we signed a historic trade deal in July, opening up new opportunities for British businesses in India, and why I led the largest British trade delegation to India ever last week."

While briefing British MPs on his discussions with PM Modi during his first official visit to India as UK prime minister, Starmer highlighted plans for more British universities to establish campuses in India, positioning the UK as a leading international education provider in the country.

"We're strengthening the UK-India Technology Security Initiative to enhance opportunities for our tech sector. We also announced new deals and investments across advanced manufacturing, defence, automobile production, and Bollywood filmmaking in the United Kingdom," he noted.

"These investments into the UK, valued at 1.3 billion pounds, will generate 10,600 jobs. This represents meaningful change that people will witness in their communities throughout the country," Starmer added.

A joint statement released following the meeting between PM Modi and Starmer in Mumbai indicated that both leaders anticipate the UK parliamentary ratification of the India-UK CETA "as early as possible" and welcomed the revitalization of the Joint Economic and Trade Committee (JETCO), which will support the governance and implementation of the CETA while advancing the broader trade and investment partnership.

Starmer, who headed a delegation of 127 business leaders, entrepreneurs, and university vice-chancellors to Mumbai on October 8 and 9, has committed to expanding opportunities for British businesses in India through the "ambitious" Free Trade Agreement designed to reduce tariffs and make trade "quicker, cheaper and easier".