India, UK To Negotiate Double Contribution Convention To Reduce The Cost Of Doing Business

United Kingdom:24/7/25:Prime Minister Narendra Modi and his UK counterpart Keir Starmer held one-to-one and delegation-level talks at Chequer today. The two leaders reviewed the entire gamut of issues in the bilateral relationship and discussed regional and global issues of mutual interest. Briefing media in London this evening, Foreign Secretary Vikram Misri said the highlight of the Prime Minister’s visit was the signing of the historic India-UK Comprehensive Economic and Trade Agreement. He said this landmark agreement will significantly increase trade and investment and economic cooperation between the two countries by lowering tariffs in key sectors, including labour intensive sectors.

The two sides have also agreed to negotiate a Double Contribution Convention which will enter into force along with the FTA. Foreign Secretary said this will facilitate professionals and service providers on both sides and reduce the Cost of Doing Business in both countries. The two leaders also engaged informally with leading CEOs of business enterprises of the two countries. All the business leaders expressed satisfaction after the Free Trade Agreement. Mr Misri said that in addition to the FTA, there were other deliverables, including adoption of India UK Vision 2035 Document which will steer the relationship for the next ten years, and Defence Industrial Roadmap.