NewsGate Press Network

Prime Minister Narendra Modi on Thursday the 27th of October 2022, spoke to new British premier Rishi Sunak with the two leaders agreeing on the importance of early conclusion of a comprehensive and balanced free trade agreement between the two countries.

It was their first conversation since Indian-origin Sunak took charge as British prime minister on Tuesday.

Sunak also tweeted his thanks to Modi and said he is excited about what the two “great democracies” can achieve as they deepen their security, defence and economic partnership in the months and years ahead.

It may be recalled that in January earlier this year India and Britain had begun talks for an agreement on FTA.

Its deadline was set for Diwali day. However, the deadline missed its due date as reports emerged that consensus eluded on key issues.

This Free Trade Agreement has potential to the double bilateral trade between India and UK up to the tune of $100 billion by 2030.

As the Chancellor of the Exchequer (finance minister of England) in Boris Johnson’s cabinet, Rishi Sunak had spoken for support for the FTA, which he said presented great opportunities for the technology and insurance sectors for both nations.