India, UK likely to sign trade deal on July 24
What's the story
India and the UK are likely to sign a Free Trade Agreement (FTA) on July 24, during Prime Minister Narendra Modi's visit to the UK. The deal is currently being legally scrubbed and will need approval from India's Union Cabinet and the British Parliament before coming into effect. The agreement shall be finalized during PM Modi's official visit from July 23-24, at the invitation of UK PM Keir Starmer.
Partnership review
Review of all aspects of India-UK relationship
The Ministry of External Affairs (MEA) has said Modi and Starmer will review all aspects of the India-UK relationship, including progress under the Comprehensive Strategic Partnership (CSP). The CSP was launched in May 2021 and both nations had laid out a decade-long roadmap for cooperation across trade, investment, defense, security, science, technology and innovation.
Economic discussions
A look at the investments
During the visit, Modi and Starmer will discuss the CSP. According to UK government data, India was UK's second-largest source of investments by number of projects in 2023-24, with over 950 Indian-owned companies operating in the country.
Diplomatic engagement
Modi to visit Maldives after UK trip
After the UK trip, Modi will visit the Maldives from July 25-26. He will attend Maldives's 60th Independence Day celebrations as the 'Guest of Honour.' The MEA said, "The visit will provide an opportunity for both sides to deepen and strengthen the close bilateral relationship."