UK 2024: Rishi Sunak exits Downing Street, successor Keir Starmer revives hope for free trade agreement with India
Rishi Sunak surprised many within his own Conservative Party by calling an earlier-than-expected election on July 4 — exactly a month on from a third term win for Prime Minister Narendra Modi's National Democratic Alliance.
This meant the FTA talks, having entered their 14th round of intense negotiations, slipped into a more uncertain phase until the new Labour Party-led government committed itself to «deepening our bilateral ties».
«We agreed to raise the ambition of our UK-India comprehensive strategic partnership… Crucially, this work will start with trade and investment, and I am pleased to say that we agreed to relaunch Free Trade Agreement negotiations early in the new year,» said newly-elected British Prime Minister Keir Starmer after his first meeting with Modi on the sidelines of the G20 Summit in Brazil last month.
It mapped out a clearly defined landscape for the future of the India-UK trade ties, which official UK government statistics clock at GBP 42 billion a year in the 12 months to June 2024.
Sunak may not have succeeded in getting the FTA over the line, but, as he admitted in his resignation speech at the doorstep of 10 Downing Street, British voters had given a «clear signal» in favour of change.
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