London [UK], October 8 (ANI): UK PM Keir Starmer's trade mission to India is set to boost ties with one of the country's most important economic partners, as a delegation of 125 of the UK's most prominent CEOs, leading entrepreneurs, university Vice Chancellors and cultural institutions are accompanying the UK PM on this historic visit, an official statement noted.

As per the statement, following the signature of the landmark UK-India trade deal in July, which will lower tariffs on British goods being imported into India, the door is now open for British businesses to turbocharge their trade with India, one of the fastest growing economies in the world.

As per the statement, major household names such as Rolls Royce, British Telecom, Diageo, London Stock Exchange and British Airways will join the UK PM's delegation as he promises to secure opportunities for them to grow and expand into the Indian market - delivering growth and supporting jobs at home.

Notably, growing SMEs and entrepreneurs from every region of the UK will also travel with the Prime Minister, recognising that the trade deal will break down barriers and support businesses of all shapes and sizes to trade more easily with India.

'The trade deal has been acknowledged as the best agreement ever secured by any country with India. Under current projections, the deal is expected to raise bilateral trade by Pound 25.5 billion per year, with UK exports to India projected to grow by nearly 60%. It significantly improves market access for businesses in both countries, leading to cheaper products and services for consumers', the statement said.

British Prime Minister Keir Starmer said, 'We signed a major trade deal with India in July - the best secured by any country - but the story doesn't stop there...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.'

The statement further noted that with the deal, India's average tariff on UK products will drop from 15% to 3% - which means British companies selling products to India, from soft drinks and cosmetics to cars and medical devices, will find it easier to sell to the Indian market.

'The deal particularly benefits SMEs, as improved customs and digital commitments will make trade quicker, cheaper, and easier. In addition, bespoke support for SMEs, such as dedicated contact points, will help them enter the Indian market', the statement added.

On the education front, '14 university Vice Chancellors will also join the delegation in recognition of the explosion in demand for higher education in India - with 70 million places needed by 2035, which has created a huge opportunity for UK universities seeking new funding streams', the statement said.

It highlighted that some of the UK's biggest cultural institutions such as the British Film Institute and the National Theatre will also join the trip - opening new doors for creative exports, co-productions, museum and heritage partnerships, talent exchange, and joint initiatives across film, fashion, sport, and digital culture.

In a post on X, the British PM said, 'I 'm flying the flag for British business in Mumbai, because growth in India for British businesses means more jobs for people at home.'

https://x.com/Keir_Starmer/status/1975834586606411813

Meanwhile, British Airways has confirmed it will introduce a third daily flight between Delhi and London Heathrow in 2026, subject to regulatory and capacity approval, and will look for further growth opportunities in the country as trade between the UK and India increases.

Sean Doyle, Chairman and Chief Executive of British Airways, said, 'I am delighted to take part in this important trade mission. Our ties with India were established over 100 years ago and today we have around 2,500 British Airways colleagues based there. We've been steadily increasing capacity between India and the UK over the years and we're now operating 56 direct services from five Indian cities each week.'

'The Free Trade Agreement with India will boost economic momentum between our two countries and British Airways really sits at the centre of that activity, acting as an enabler for increased trade. We will develop our own network alongside increased economic activity so the FTA for our business is very good news', he added.

The statement also noted that Manchester Airport will also launch a new direct route to Delhi operated by IndiGo, adding to its existing Mumbai service and making it the only UK airport outside London with connections to both cities. The expansion is expected to generate over Pound 50 million in annual exports, Pound 25 million in tourism income, and 450 new jobs, while boosting productivity and research collaboration.

The visit of the UK PM comes after Prime Minister Modi's trip to the UK in July, where the trade deal was signed and nearly Pound 6 billion in new investment and export wins were confirmed, the statement noted. (ANI)