London [UK], July 24 (ANI): Prime Minister Narendra Modi on Thursday met British Prime Minister Keir Starmer in London, ahead of the formal signing of a landmark UK-India free trade agreement expected to significantly boost economic ties between the two countries.

The bilateral meeting took place at the historic Hawtry Room, where the two leaders held a one-on-one discussion to finalise the contours of what is being described as India's most comprehensive trade pact and the UK's most significant post-Brexit deal.

Hours before meeting PM Modi, UK Prime Minister Keir Starmer called the India trade deal a 'Plan for Change in action'.

In a post on X, Starmer wrote, 'A landmark deal with India means jobs, investment and growth here in the UK. It creates thousands of British jobs, unlocks new opportunities for businesses and puts money in the pockets of working people.

https://x.com/Keir_Starmer/status/1948276522323710240

According to a statement released earlier by the British High Commission, the UK-India trade agreement is expected to boost bilateral trade by Pound 25.5 billion annually. The deal is also expected to unlock thousands of jobs, lower tariffs, and increase market access for businesses in both countries.

During PM Modi's visit, both leaders are also expected to unveil the UK-India Vision 2035, a renewed Comprehensive Strategic Partnership that outlines a broader roadmap for collaboration in areas such as defence, technology, climate, education, and national security.

'This landmark trade deal with India is a major win for Britain. It will create thousands of British jobs across the UK, unlock new opportunities for businesses, and drive growth in every corner of the country,' Prime Minister Keir Starmer was quoted as saying in the statement.

He added that the deal was part of his 'Plan for Change' to put more money into the pockets of British citizens and help families with the cost of living.

India is already the UK's 12th largest trading partner, with bilateral trade standing at over Pound 36 billion. The proposed agreement aims to reduce average tariffs on British products such as cars, medical devices, cosmetics, and soft drinks from 15 per cent to 3 per cent--benefiting Indian consumers.

At the same time, it will ease market entry for Indian exporters, further increasing the UK's current imports of Pound 11 billion worth of Indian goods.

UK Business and Trade Secretary Jonathan Reynolds described India as 'an emerging economic superpower of the 21st century,' adding that the trade pact marks a new phase in bilateral relations.

The deal also builds on the UK-India Technology Security Initiative signed last year. Both sides have reaffirmed their commitment to harness frontier technologies and deepen cooperation on national security and border protection. (ANI)