Nirav Modi And Vijay Mallya To Be Extradited Soon? PM Modi’s Strong Message From UK—'Our 'Agencies Will...'

India and the United Kingdom signed the long-awaited Comprehensive Economic and Trade Agreement (CETA) on Thursday, in London, during Prime Minister Narendra Modi's visit.

The agreement is being seen as a historic breakthrough in bilateral relations, offering wide-ranging economic benefits to both countries and paving the way for deeper cooperation in trade, mobility, and security.

A Historic Day in Our Relations—PM Narendra Modi

Prime Minister Narendra Modi, addressing the gathering after the signing, called it a milestone moment for both nations. “Today marks a historic day in our relations. I am delighted that after the hard work of several years, today our two nations have signed the Comprehensive Economic and Trade Agreement,” he said.

Modi highlighted that the deal is not only about trade but about shaping a shared economic future. “This Agreement is not just an economic agreement but also the plan for a shared prosperity,” he added.

He emphasised that the agreement will open better market access for Indian sectors like textiles, footwear, gems and jewellery, seafood, and engineering goods. Indian agricultural products and processed foods are also expected to benefit.

“This agreement will especially benefit Indian youth, farmers, fishermen, and the MSME sector,” Modi said. He added that UK-made products such as medical devices will become more affordable for Indian consumers.

Extradition and Terrorism

In a significant development, Modi addressed the issue of terrorism and the misuse of democratic freedoms. Referring to the recent Pahalgam terror attack in Kashmir, he thanked Starmer for his government’s support.

“We express gratitude to PM Starmer and his government for strongly condemning the Pahalgam terror attack. We are of one opinion that there is no place for dual parameters in the fight against terrorism.”

Modi stressed that extremist ideologies must not be allowed to exploit democratic systems. “We also agree that elements with extremist ideology can't be allowed to misuse democratic freedom. Those who misuse democratic freedoms to undermine democracy itself must be held to account.”

He also raised the matter of fugitive economic offenders, such as Nirav Modi, who is wanted in India for a Rs 6,498 crore bank fraud case and has been fighting extradition in UK courts. “Regarding the extradition of economic offenders, our agencies will work with coordination and cooperation.”

Also Read: PM Modi Signs Historic India-UK Free Trade Deal

Biggest Deal Since Brexit—PM Keir Starmer

UK Prime Minister Keir Starmer underlined the importance of the deal for Britain’s post-Brexit economy. “It is a deal that will bring huge benefits to both of our countries, boosting wages, raising living standards and putting more money in the pockets of working people,” he said.

Starmer praised Modi’s leadership and commitment, noting the significance of the agreement. “We both know that this is the biggest, most economically significant trade deal that the UK has made since leaving the EU. I think I can say that this is one of the most comprehensive deals that India has ever done,” he said.

“So, thank you, PM, for your leadership and for your pragmatism. I would like to thank everybody who has worked so hard to get this deal over the line.”

Modi on the Indian Diaspora in the UK

Modi also took the opportunity to acknowledge the contributions of the Indian community in the UK. “People of Indian origin who live in the UK act as a living bridge in our relations. They did not just bring curry from India but also creativity, commitment, and character.”

“Their contribution is not restricted to just the economy of the UK but is also reflected in the culture, sports, and public service of the UK.”

Economic Impact: What the Trade Deal Means

The FTA aims to drastically reduce tariffs and open up markets on both sides. India’s average tariff on UK goods will fall from 15% to just 3%. British products such as cars, soft drinks, medical devices, and cosmetics will find easier entry into the Indian market.

The UK highlighted a big win for its whisky industry, with import tariffs slashed from 150% to 75% immediately and further down to 40% over the next decade.

Modi said the agreement is aligned with India's long-term development vision: “This forward-looking agreement is aligned with India's vision of Viksit Bharat 2047 and complements the growth aspirations of both countries.”

A New Chapter in India-UK Partnership

The two leaders also reflected on the broader significance of their partnership. Modi noted the importance of India and the UK working together, especially in the areas of youth, skills, and technology. “When the UK and India’s skilled youth, their brains, and their skills come together, it provides a huge guarantee for development around the world.”

“This will increase employment and strengthen skilled mobility, and I think Vision 2035 will gain a new speed and new energy with the comprehensive strategic partnership.”

With this agreement, both countries aim to boost trade to USD 120 billion by 2030. The FTA is seen not only as a deal for business but as a comprehensive platform for collaboration across sectors—from education to innovation and from jobs to justice.