India, UK Leaders Reaffirm Commitment to Trade Deal, India’s Modi Says

NEW DELHI: Indian Prime Minister Narendra Modi said he had a call with British Prime Minister Rishi Sunak, in which the two leaders reaffirmed the commitment to work for an early conclusion of the free trade agreement.

“We reaffirmed our commitment to further strengthen the bilateral comprehensive strategic partnership and work for early conclusion of a mutually beneficial free trade agreement,” Modi said in a post on X on Tuesday.

The conversation between the two leaders comes two days after India signed a free trade pact with a group of European nations - Switzerland, Norway, Iceland and Liechtenstein - committing to reduce tariffs, while New Delhi receives $100 billion in investments over the next 15 years.

India, European EFTA bloc sign $100bn free trade deal

Britain and India have held stop-start talks over a Free Trade Agreement (FTA) for two years. Both countries are set to hold national elections in 2024. Modi will bid for a rare third term, with the election dates expected to be announced soon.

Britain’s trade minister Kemi Badenoch said last week she did not see the election in India as a deadline for securing a trade agreement, saying it would be “challenging” to secure a deal by then but possible.