British Prime Minister Keir Starmer updated the House of Commons on Tuesday regarding his recent two-day visit to Mumbai, India, accompanied by the UK's largest-ever trade delegation to the country. The visit resulted in deals worth approximately £1.3 billion.
Addressing Parliament, which reconvened this week after recess, Starmer emphasized the shared future uniting both nations, referencing the "historic" trade deal finalized in July. This agreement is designed to unlock new opportunities for businesses and stimulate job creation. Starmer is seeking parliamentary ratification of the India-UK Comprehensive Economic and Trade Agreement (CETA) "as early as possible". The Joint Economic and Trade Committee (JETCO) will be reset to govern and implement the agreement.
Starmer highlighted that more British universities are planning to establish campuses in India, positioning the UK as a leading international education provider in the country. The UK-India Technology Security Initiative is also being strengthened to enhance prospects for the technology sector. New deals and investments were unveiled, spanning advanced manufacturing, defense, car production, and even Bollywood filmmaking within the UK.
According to Starmer, these investments in the UK amount to £1.3 billion and will generate 10,600 jobs. He stated that this would bring tangible change to communities across the country.
The India-UK Comprehensive Economic and Trade Agreement (CETA), signed during Prime Minister Narendra Modi's visit to the UK two months prior, is projected to significantly boost the bilateral trade partnership beyond its current value of £44 billion per year. Projections estimate an increase in trade of more than £25 billion by 2040.
Starmer noted India's growing prominence on the world stage, predicting it will become the third-largest economy by 2028. He acknowledged the existing bond between the two countries, fostered by family ties and shared history, but emphasized the incredible opportunities that lie ahead.
The Prime Minister's visit also served to promote business opportunities between the UK and India. Over 100 business leaders joined Starmer on the trip, expressing their eagerness to expand their operations in India and elevate their profile with the Prime Minister.
