"Indian External Affairs Ministry says the two sides agreed to set up a connectivity and innovation centre and a joint AI centre. British Prime Minister Keir Starmer and his Indian counterpart Narendra Modi have hailed their countries' recent trade deal as transformative, saying the partnership has already begun to bear fruit. The United Kingdom and India signed a trade agreement in July aimed at reducing tariffs on goods from textiles to whisky, cars and spices and allowing more market access for businesses."
"Starmer met Modi on Thursday in Mumbai, where the British prime minister and more than 100 leaders from the UK's business, culture and university sectors were wrapping up a two-day trade mission to India. In the three months since we actually signed that (trade deal) we've seen a 6-billion-pound boost in trade and investment, that's on top of the increased numbers over the last year already, Starmer told business leaders from both countries at the India-UK CEO Forum in Mumbai."
India and the United Kingdom agreed to establish a connectivity and innovation centre and a joint AI centre. The July trade agreement reduces tariffs on goods from textiles to whisky, cars and spices and expands market access for businesses. The stated goal is to boost trade by 25.5 billion pounds by 2040. Bilateral leaders described the partnership as transformative, and trade and investment rose by about 6 billion pounds in the three months after signing. The shift occurs amid wider tariff changes, including US duties affecting Indian exports tied to Russian oil. Modi expressed confidence trade would double from the current $56 billion, and the UK delegation included more than 100 business, culture and university leaders.
Read at www.aljazeera.com
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