UK: Lord Rami Ranger lauds PM Modi's leadership, welcomes FTA with India

London, July 23 (IANS) British Indian businessman Lord Rami Ranger on Wednesday lauded Prime Minister Narendra Modi's leadership while terming the possible signing of a Free Trade Agreement (FTA) as "a major development" and a "win-win situation" for both India and the United Kingdom.

Speaking exclusively with the IANS just ahead of PM Modi's arrival in the country on a two-day visit, Ranger, an Indian-origin member (Peer) of the upper house of the UK, spoke highly of the development that has taken place in India over the past decade. He emphasised that the UK's economy will also witness a jump after collaborating with India.

"It will be a very significant day as the Prime Minister will sign a Free Trade Agreement with the country that ruled over India for 200 years. We were once their colony, and today we stand as equals. This is a major development and it is the result of Prime Minister Modi's leadership. We are witnessing development in India in the past 10 years, like the 'Make in India' initiative. There will be transfer of technology along with the Free Trade Agreement. The FTA is made in heaven and a win-win situation benefitting many nations. The British economy will also jump after plugging in with the Indian economy. Whole world will benefit from it," said the 78-year-old Ranger.

He mentioned that the Free Trade Agreement will bring stability to the markets of both countries and help traders on both sides.

Earlier in the day, PM Modi departed on a two-day visit to the United Kingdom at the invitation of his British counterpart Keir Starmer. It will be PM Modi's fourth trip to the UK since assuming office. During the visit, PM Modi will meet Starmer and also call upon King Charles III.

In May, PM Modi and Starmer announced the successful conclusion of a mutually beneficial India-UK FTA, which is expected to double the trade between the two countries to $120 billion by 2030. Under the agreement, 99 per cent of Indian exports to the UK will get the benefit of zero duty, an official statement detailed.

"We all are very excited and extremely happy that Prime Minister Modi is coming to London. I only wish he had more time for everyone, for all Indians, because they are eagerly waiting to celebrate with him... What he is doing for our nation, we are really proud of him," said London based businessman, Ramesh Arora.

Over the years, the historical ties between India and the UK have transformed into a robust, multi-faceted, mutually beneficial relationship. The relationship was elevated to Comprehensive Strategic Partnership in 2021. There has been enormous growth across all sectors including trade and economy, defence and security, climate, green energy, health, education, people-to-people ties.

On PM Modi's UK visit, Jayu Shah of Friends of India Society International (FISI), UK said, "We will warmly welcome PM Modi in the UK. The trade agreement negotiations have been going on for 20 years. Now, PM Modi has managed to make the deal and the two nations will sign it. India is 'Vishwaguru', the superpower and all nations need it. India is the largest investor in the UK, businesswise".

PM Modi, in his departure statement, highlighted that the Comprehensive Strategic Partnership has witnessed significant progress in recent years witnessing growth in a wide range of sectors, including trade, investment, technology, innovation, defence, education, research, sustainability, health and people-to-people ties.

"During my meeting with Prime Minister Keir Starmer, we will have the opportunity to further enhance our economic partnership, aimed at fostering prosperity, growth and jobs creation in both countries. I also look forward to calling on His Majesty King Charles III during the visit," he added.

--IANS

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