United Kingdom Prime Minister Keir Starmer has arrived in India with a sprawling delegation of leading British CEOs, entrepreneurs and university vice-chancellors on a visit his government says is intended to “turbocharge” trade between the countries.
The two-day trade mission to India, which began in Mumbai on Wednesday, is intended to promote trade and business opportunities between India and the UK – the world’s fifth and sixth largest economies, respectively – as both countries seek to realign their trading relationships in the wake of stiff tariffs imposed by United States President Donald Trump’s administration.
In August, the US slapped 50 percent tariffs on goods from India in response to New Delhi’s trade with Russia, specifically its vast consumption of Russian oil, while the UK, which secured a trade deal with Washington in May, has also been hit with tariffs, albeit at a much lower rate.
Announcing the visit, Starmer said the mission was intended to build on a recent landmark trade deal.
“We signed a major trade deal with India in July – the best secured by any country – but the story doesn’t stop there,” he said in a statement.
“It’s not just a piece of paper, it’s a launchpad for growth. With India set to be the third biggest economy in the world by 2028, and trade with them about to become quicker and cheaper, the opportunities waiting to be seized are unparalleled.”
Indian Prime Minister Narendra Modi, who is due to meet Starmer on Thursday before the leaders address a fintech conference in Mumbai, welcomed his UK counterpart in a statement, adding that he hoped to bolster their “shared vision of a stronger, mutually prosperous future”.
Trade between the countries is worth $54.8bn and supports more than 600,000 jobs across both countries, the AFP news agency reported.
Opportunities ‘already opening up’
Under the new deal, India will slash tariffs on British goods such as whisky, cosmetics and medical devices while the UK will cut duties on clothing, footwear and food products, including frozen prawns, from India.
The UK government said in a statement that under current projections, the new trade deal would increase the UK’s gross domestic product by 4.8 billion pounds ($6.4bn) each year and increase UK exports to India nearly 60 percent.
Starmer told the delegation that opportunities were “already opening up”, trade was rising sharply as a result of the deal and its members should build on the momentum.
After a visit to the Yash Raj Film studio on Wednesday, Starmer announced that three Bollywood films would be made in the UK from next year.
“Bollywood is back in Britain, and it’s bringing jobs, investment and opportunity, all while showcasing the UK as a world-class destination for global filmmaking,” he said.
From left, Yash Raj Films CEO Akshaye Widhani, UK Prime Minister Keir Starmer and Indian actor Rani Mukerji during a visit to the Yash Raj Films studio in Mumbai [Stefan Rousseau/Pool/AFP]
Starmer also visited a new English Premier League community programme where he met aspiring young Indian footballers and coaches, highlighting the British football league’s popularity among Indian fans.
The UK trade delegation includes British Airways CEO Sean Doyle, BP CEO Murray Auchincloss and Wouter van Wersch, executive vice president international for Airbus, along with vice chancellors from 14 British universities.
