India, May 6 -- Prime Minister Narendra Modi announced on Tuesday that India and the United Kingdom had finalised an "ambitious and mutually beneficial" free trade agreement which will bolster business and investment between the two countries.

In a post on X, Modi said, "Delighted to speak with my friend PM @Keir_Starmer. In a historic milestone, India and the UK have successfully concluded an ambitious and mutually beneficial Free Trade Agreement, along with a Double Contribution Convention."

Trade between India and the United Kingdom totalled 42.6 billion pounds in 2024, making it Britain's 11th largest trading partner.

The deal is expected to increase bilateral trade by £25.5 billion, UK GDP by £4.8 billion and wages by &#...