British Prime Minister Keir Starmer and Indian counterpart Narendra Modi are advancing commercial ties, highlighted by a commitment from 64 Indian companies to invest 1.3 billion pounds ($1.75 billion) into the UK. This significant investment, announced during a UK trade mission to India, reinforces a recently sealed trade deal projected to increase bilateral trade by an additional 25.5 billion pounds by 2040, with a focus on advanced manufacturing, digital trade, clean energy, and services.
MUMBAI, Oct 9 (Reuters) - British Prime Minister Keir Starmer and his Indian counterpart Narendra Modi will celebrate their countries' deepening commercial ties on Thursday with an announcement of further Indian investment into the UK and a meeting between the two. Starmer's office said he would use the second and final day of a trip to India to discuss a recently-sealed trade deal as well as a technology security initiative launched in July last year. The Reuters Daily Briefing newsletter provides all the news you need to start your day. Sign up here. Advertisement · Scroll to continue It also said that 64 Indian companies would collectively invest 1.3 billion pounds ($1.75 billion) in Britain, announced during a visit of the UK's largest ever trade mission to India, with more than 100 companies and organisations travelling with the prime minister. "The UK-India trade deal is already unlocking growth, and today's announcements mark the beginning of a new era of collaboration between our two nations," Starmer said. The deal between the world's fifth and sixth largest economies, agreed after U.S. President Donald Trump unleashed tariff turmoil, aims to increase bilateral trade by a further 25.5 billion pounds by 2040. Advertisement · Scroll to continue In a readout of a meeting of the countries' trade ministers on Wednesday, India's commerce ministry said they agreed to work more closely in sectors including advanced manufacturing, digital trade, clean energy and services. But the countries do not agree on everything. After Modi wished Russian President Vladimir Putin happy birthday on Tuesday, Starmer joked to reporters that he would not be doing the same, given Britain's strong backing for Ukraine and condemnation of Russia over its invasion. Britain says it respects India's strategic independence and Scottish Secretary Douglas Alexander, a former trade minister who joined the UK delegation, told reporters the issue had not prevented Starmer from leveraging a close relationship with Modi to grow the UK economy. ($1 = 0.7444 pounds) Reporting by Alistair Smout in Mumbai and Manoj Kumar in New Delhi; Editing by Emelia Sithole-Matarise Our Standards: The Thomson Reuters Trust Principles. British Prime Minister Keir Starmer's visit to India has cemented deepening commercial ties, highlighted by a significant commitment of 1.3 billion pounds ($1.75 billion) in investment from 64 Indian companies into the UK. This announcement, made during a large UK trade mission, underscores an optimistic outlook for bilateral economic relations. The recently sealed trade deal between the world's fifth and sixth largest economies targets an additional 25.5 billion pounds in trade by 2040. This enhanced collaboration focuses strategically on high-growth sectors including advanced manufacturing, digital trade, clean energy, and services. These areas represent key future economic drivers for both nations, aiming to unlock growth and foster a new era of cooperation. The investment flow and trade targets suggest a concerted effort to diversify and strengthen supply chains and technological partnerships. Despite lingering geopolitical differences, particularly regarding Russia, the trade agenda remains a priority, demonstrating a pragmatic approach to international relations. The UK delegation acknowledged India’s strategic independence, emphasizing that these issues have not hindered efforts to grow the UK economy through this close relationship. This suggests resilience in economic diplomacy even amidst complex global political landscapes.
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