Honourable Prime Minister Narendra Modi ji and British Prime Minister Keir Starmer have hailed recent trade deal as transformative, saying the partnership has already begun to bear fruit. The United Kingdom and India signed a trade agreement in July aimed at reducing tariffs on goods from textiles to whisky, cars and spices and allowing more market access for businesses. The stated goal is to boost trade by a further 25.5 billion pounds ($34bn) by 2040.

On 9th October in Mumbai, where the British prime minister and more than 100 leaders from the UK's business, culture and university sectors were wrapping up a two-day trade mission to India. "In the three months since we actually signed that (trade deal), we have seen a 6-billion-pound boost in trade and investment, that's on top of the increased numbers over the last year already," Starmer told business leaders from both countries at the India-UK CEO Forum in Mumbai.

Modi told the forum on Thursday that he was confident the two countries would double their trade from the current $56bn before their target to do so. Starmer's visit "reflects the new energy and broad vision" in the partnership, Modi said after talks with the British prime minister. "India's dynamism and the UK's expertise together create a unique synergy," Modi said, speaking in Hindi. Starmer said the focus of his visit was doubling down on the potential of the trade deal, expected to take effect within a year.

"This is just the start," Starmer later told a fintech conference. "It's time to invest in the United Kingdom, invest in this relationship and invest in our shared future." A statement by the Indian Ministry of External Affairs said the two sides agreed to set up a connectivity and innovation centre and a joint centre for AI and unveiled a critical minerals industry guild to bolster supply chains and promote green technologies. Earlier, Starmer's office said 64 Indian companies would collectively invest 1.3bn pounds ($1.73bn) in the UK, without elaborating.