London mayor Sadiq Khan has welcomed the UK-India trade deal, calling it a boost for the capital’s economy.

Khan said in a statement: “I’m delighted that the Government has signed this historic trade deal with India, delivering a £310m boost for London’s economy and creating opportunities for business in the capital and across the UK.”

He added: “On the back of the recent economic deals agreed between the Government and the US and EU there has never been a better time to invest in the capital. London is the leading destination for businesses looking to thrive and grow and I’ll continue to work with Ministers to create a fairer and more prosperous city for all Londoners.”

Prime Minister Keir Starmer and Indian Prime Minister Narendra Modi signed the deal during talks at Chequers on Thursday.

Starmer described it as a “landmark moment” and said the agreement would strengthen the “unique bonds of history, of family and of culture” between the two countries.

The UK government estimates the deal could eventually add £4.8 billion a year to the British economy.