Prime Minister Narendra Modi at the India-UK CEO Forum announced plans to double bilateral trade to USD 112 billion before 2030.
Prime Minister Narendra Modi expressed strong confidence in the growth trajectory of India-UK trade, stating that bilateral trade between the two nations—currently valued at USD 56 billion—is set to double before 2030. Addressing the India-UK CEO Forum in Mumbai alongside UK Prime Minister Keir Starmer, PM Modi outlined a bold vision for deepening economic, educational, and technological ties.
India-UK Free Trade Agreement (FTA) to Boost MSMEs and Job Creation
Highlighting the potential of the upcoming India-UK Free Trade Agreement (FTA), PM Modi said the pact will play a pivotal role in empowering MSMEs, boosting employment for youth, and fostering long-term economic cooperation. “The India-UK FTA will not only enhance market access but also create significant employment opportunities,” Modi noted.
Nine UK Universities to Open Campuses in India
In a major educational development, nine leading UK universities are set to establish campuses in India. PM Modi said this will strengthen people-to-people ties and fuel India’s innovation-driven economy by fostering collaboration between academia and industry. “In the future, the partnership between academia and industry will become the biggest driving force of our innovation economy,” he stated.
Four Dimensions of CETA: PM Modi’s Vision for a Broader Economic Agreement
PM Modi introduced a new framework for the Comprehensive Economic and Trade Agreement (CETA), presenting four expanded pillars:
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C – Commerce and Economy
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E – Education and People-to-People Relations
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T – Technology and Innovation
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A – Aspiration
This redefined CETA aims to guide India-UK relations into a new era of comprehensive strategic cooperation.
India Offers Policy Stability and Huge Market Demand
PM Modi emphasized India’s attractiveness as a global investment destination, citing “policy stability, predictable regulations, and large-scale demand” as key strengths. He invited UK businesses to invest in sectors like infrastructure, pharmaceuticals, energy, finance, defence, and digital innovation.
Critical Minerals, Defence, and Emerging Tech Collaboration on the Agenda
The Prime Minister called for structured collaboration in critical minerals, rare earths, and active pharmaceutical ingredients (APIs), suggesting these will define the future of India-UK strategic relations. He also outlined plans for co-design and co-production in defence, as well as joint innovation in AI, quantum tech, biotech, semiconductors, cyber, space, and telecom.
India Leads Global Fintech: PM Modi
Underlining India’s fintech revolution, Modi stated that nearly 50% of the world’s real-time digital transactions now take place in India. He proposed a fusion of the UK’s financial services expertise with India’s Digital Public Infrastructure (DPI) to benefit the global digital economy. “The combination of India’s scale and talent with the UK’s R&D and expertise has the potential to deliver transformative results,” he said.
India-UK Vision 2035 Announced
To chart the roadmap for future cooperation, both leaders unveiled India-UK Vision 2035—a strategic blueprint aimed at expanding bilateral ties across economic, educational, technological, and cultural fronts.
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