New Delhi: In their very first meeting, the Indian and United Kingdom prime ministers have agreed to restart suspended free trade agreement discussions next year.
This was announced after Narendra Modi and Keir Starmer met on the sidelines of the first day of the G20 summit in Brazil. Starmer has been in power since early July when he led the Labour party to a landslide victory in the parliamentary elections.
India and the UK have conducted 14 rounds of FTA (free trade agreement) negotiations over the past two years. However, the discussions were put on hold in May as both countries entered election mode.
A UK foreign office readout of the Modi-Starmer talks said that both leaders had agreed to take forward “an ambitious UK-India Comprehensive Strategic Partnership to take the relationship to new heights”. “As part of this they agreed to relaunch UK-India trade talks early next year,” it said.
The Indian press release also talked about resuming the FTA, but did not give a specific time. “Both leaders underlined the importance of resuming the Free Trade Agreement negotiations at an early date and expressed confidence in the ability of the negotiating teams, to address the remaining issues to mutual satisfaction, leading to a balanced, mutually beneficial and forward looking Free Trade Agreement,” it said.
According to UK government figures, UK-India trade was valued at approximately £42 billion in the 12 months leading up to June 2024, with UK exports to India accounting for £16.6 billion.
The Indian prime minister also announced that India will open two new consulates in Belfast and Manchester. He raised the issue of Indian fugitive economic offenders residing in the UK, whose extradition has been delayed as their cases progress through the legal system.
This year, which has seen a significant number of general elections, the G20 summit welcomed several first-time attendees.
Similar to his first meeting with UK Labour leader Keir Starmer, Modi also met Indonesian President Prabowo Subianto for the first time, just a month after Subianto assumed office after winning elections in early 2024.
According to the Indonesian press note, the two “discussed various strategic cooperation opportunities in the fields of health, education and trade, as well as strengthening bilateral relations between the two countries”.
“Indonesia and India have a long and very good relationship. We really value this relationship and are committed to improving it in various fields,” said President Prabowo.
They also discussed close collaboration within the G20 and called for “called for giving primacy to the concerns of the Global South,” said the MEA press release.
Besides, the Indian PM also held talks with leaders of France, Italy, Norway and Portugal. He will also hold talks with the Australian prime minister and the Presidents of Chile, Argentina and host Brazil on Tuesday.
