Increase in Opportunities for Economic Development
UK Prime Minister Keir Starmer hosted a group of Indian investors and CEOs to leverage perspectives on investment and economic growth opportunities between the UK and India, an official statement said. The visit follows Starmar’s meeting with Prime Minister Narendra Modi at the G20, where he committed to advancing an ambitious UK-India comprehensive strategic partnership with opportunities for economic growth, security and collaboration on defence, technology, climate, health and education, the statement said.
The delegation, supported by the Confederation of Indian Industry (CII), held talks with UK Chancellor of the Exchequer Rachel Reeves and Foreign Secretary David Lammy to deepen bilateral partnership. Foreign Minister Jonathan Reynolds and Foreign Minister Douglas Alexander also met the delegation to discuss opportunities under the UK-India trade agreement.
UK and India are Negotiating a Trade Deal
Wit44544554I8h total trade is already worth £42 billion and supports more than 600,000 jobs in both economies. The UK and India are negotiating a trade deal that could further economic growth and deliver on Starmar’s transformation plan.
“India is an important partner for the UK and we have huge ambitions to unlock more opportunities together, building on the already strong relationship,” Starmer was quoted as saying in the statement. I am delighted to welcome some of India’s most senior business leaders to Downing Street, and underscore the UK’s ambitious focus on economic growth and innovation. “
UK offers Many Opportunities for Business
Business and Trade Secretary Jonathan Reynolds said, “As one of the most globally connected economies in the G20, the UK offers unmatched opportunities for Indian businesses to thrive. According to the statement, India is already responsible for the second largest number of FDI projects in the UK, and this government is committed to deepening our trade and investment relations with India even further. Promoting investment is a mission at the heart of this government. It was great to hear directly from Indian business leaders why many trusted us and chose to invest here.
Statement by Sunil Bharti Mittal KBE
Leader of the delegation, Sunil Bharti Mittal KBE, former President of CII and Founder and Chairman of Bharti Enterprises, said, “This trade delegation has come at a crucial moment, as India stands as the fastest growing large economy and is on track to become a USD 5 trillion economy by 2027. Over time, India-UK relations have evolved into a strong, multifaceted partnership based on historical ties, economic synergies and growing geopolitical alignment. “
India-UK Free Trade is Great Opportunity for Growth
“The India-UK Free Trade Agreement negotiations present significant opportunities for mutual development and cooperation. We hope that this delegation will pave the way for many successful business collaborations. We will seek guidance from Starmer on areas that can demonstrate opportunities for better collaboration. The delegation concluded the day at an evening reception hosted by the Indian High Commission in London.
[Agency]
