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Notwithstanding the impact of Russia's war with Ukraine, the UK and India are heading towards an era of positive engagement in trade and business relations, with steps underway to promote mutual investments in both the nations, British Deputy High Commissioner in charge of Kerala and Karnataka Chandru Iyer said. Iyer who is also UK's Deputy Trade Commissioner for South Asia spoke in detail to PTI on Friday about the trade and investments between the UK and India and said there was potential to double the business by 2030. He was in the state to take part in various official engagements, including a meeting with Kerala Chief Minister Pinarayi Vijayan, and also in connection with the port of call made by the British Royal Navy's frigate ship, HMS Lancaster, at Kochi. Calling war a global phenomenon that affects all countries in more ways than one, the British Deputy High Commissioner hailed entrepreneurs for being enterprising and resilient in the face of adversity. "If you look at t
It has been anything but a smooth ride for the Rishi Sunak led UK government, with the latest official data released this week reflecting a shrinking economy and a looming two-year-long recession. The British Indian former finance minister, who took charge at 10 Downing Street last month with the promise to fix the fiscal errors of predecessor Liz Truss' disastrous mini-budget, has pledged to get a grip on the soaring inflation as a priority and warned of tough tax and spending decisions ahead. Economic experts agree on the massive scale of the challenge, even as they hold out the prospect of a free trade agreement (FTA) with India as a potential generator of much-needed economic growth. The economic crisis in the UK is caused by some new and some longstanding factors, explains Dr Anna Valero, Senior Policy Fellow at the London School of Economics (LSE) Centre for Economic Performance. High inflation, high interest rates and tightening fiscal policy occurs against the backdrop of .
Despite economic and political turmoil, the UK has completed most of the sections of the much-awaited free trade agreement with India.Trade Department Minister Greg Hands on Wednesday said that - Britain has completed the majority of sections of a free trade agreement with India but will only sign off on the deal once happy that it is fair and reciprocal."We have already closed the majority of chapters and look forward to the next round of talks shortly. We are working towards the best deal for both sides and won't sign until we have a deal that is fair, reciprocal and ultimately in the best interests of the British people and the UK economy," Hands told parliament.He further questioned Labour Party whether they will ever support any UK trade deal as the party earlier had blocked such deals in past."Good to be back at the dispatch box today answering a Labour Urgent Question on a trade deal with India. Now a question to Labour: when will they ever support any UK trade deal? They ...
Chairperson of UK-India Business Council Richard Heald met Uttar Pradesh Chief Minister Yogi Adityanath on Thursday, during which the two discussed avenues for British investment in the state. During the meeting at the chief minister's official residence, Adityanath highlighted that the state provided ample opportunities for British companies to invest in any sector, including defence, electronics, information technology, and dairy. He said the government was planning to organise "Uttar Pradesh Global Investors' Summit" next year, and investment-oriented policies were being prepared for various sectors. "Uttar Pradesh is fast emerging as an attractive investment destination for the world," he said. Heald assured the United Kingdom's participation in the investors' summit as a country partner, according to an official release. The UKIBC chairperson invited Adityanath to London and requested him to meet representatives of various British companies, the release said. Heald said a be
British Prime Minister Boris Johnson on Tuesday said that the UK and India are natural partners who are working together on many fantastic projects from partnership on 5G and telecom to startups. Addressing the Global Technology Summit via video link, Johnson said that over the coming decade, India and the UK will continue to deepen their bonds on technology and other areas as they have set out in the 2030 India-UK roadmap. With our shared culture of innovation and our entrepreneurial spirit, the UK and India are natural partners. We're working together on many fantastic projects, from the UK-India partnership on 5G and telecom to the UK startups who are working with India giants, the prime minister said. Working side-by-side, we will not only make breakthroughs that will transform people's lives, but we'll help shape a new technology based on the principles of freedom, openness and peace, Johnson added.
Foreign Secretary Harsh Vardhan Shringla has met his British counterpart Lord Tariq Ahmad and held a comprehensive review of the UK-India cooperation in multilateral fora and on global issues and the implementation of Roadmap 2030, a 10-year plan that was unveiled in May for bilateral partnership on the road to a free trade agreement (FTA). Shringla arrived in London on Friday on a two-day visit. He held meetings with his counterpart Ahmad, Minister of South Asia in the Foreign Office, and Philip Barton, the Permanent Under-Secretary of the Foreign, Commonwealth and Development Office (FCDO) on Friday. "Cordial meetings at FCDO of HE Foreign Secretary @HarshShringla with HE Minister of State Lord Tariq Ahmad & HE Permanent Under-Secretary @PhilipRBarton: a comprehensive review of India-UK agenda, co-op in multilateral fora & on global issues, implementation of RoadMap2030," the Indian High Commission in the UK tweeted. The Roadmap 2030 was adopted at a virtual summit between ..