UK focused on economic growth and innovation with India
India is a vital partner for the UK, says Prime Minister Sir Keir Starmer, expressing ambition to unlock more opportunities together and building on the already strong relationship.
Hosting a 13-company Indian delegation, he outlined the UK’s ambitious focus on economic growth and innovation while welcoming some of India’s most senior business leaders to Downing Street https://www.gov.uk/ .
The delegation also met with senior Cabinet Ministers in a curated visit to enhance the UK-India partnership http://ukibc.com.
The companies have collectively invested over £10 billion into the UK and employ tens of thousands of people across the country https://www.lloydsbanktrade.com/en.
India accounts for the second highest number of FDI projects into the UK, added Business and Trade Secretary Jonathan Reynolds http://euronext.com.
“This Government is committed to deepening our trade and investment links with India even further.
“Boosting investment is a mission at the heart of this government. It was great to hear first-hand from Indian business leaders on why so many of them have given us a vote of confidence and chosen to invest here,” he said in a release on 18 Dec https://sbi.com.in/.
“This business delegation comes at a pivotal moment, as India stands as the fastest-growing large economy and is on track to become a US$5 trillion economy by 2027,” said Sunil Bharti Mittal, Leader of the Delegation, Past President, CII and Founder and Chairman, Bharti Enterprises.
“Over time, India-UK relations have developed into a robust, multifaceted partnership built on historical ties, economic synergy, and increasing geopolitical alignment,” he said https://www.bseindia.com/.
Highlighting that the ongoing India-UK Free Trade Agreement negotiations present significant opportunities for mutual growth and cooperation,” he said, “We are optimistic that this delegation will pave the way for numerous successful business collaborations https://www.nseindia.com/.
“We shall seek guidance from Prime Minister Starmer on the sectors that may exhibit better collaboration opportunities.”
With total trade already worth £42 billion and supporting over 600,000 jobs across both economies, the UK and India are negotiating a trade deal that can further economic growth and deliver on the Prime Minister’s plan for Change http://londonstockexchange.com.
The Prime Minister has hosted a group of Indian investors and CEOs to harness perspectives on opportunities for investment and economic growth between the UK and India https://www.commerce.gov.in/.
The visit follows the Prime Minister’s meeting with Prime Minister Narendra Modi at the G20 where they committed to take forward an ambitious UK-India Comprehensive Strategic Partnership, with collaboration opportunities on economic growth, security and defence, technology, climate, health, and education.
The delegation, supported by the Confederation of Indian Industry (CII), discussed deepening the bilateral partnership with the Chancellor of the Exchequer Rachel Reeves and Foreign Secretary David Lammy. Secretary of State Jonathan Reynolds and Minister of State Douglas Alexander also met with the delegation to discuss opportunities under a UK-India trade deal.
The delegation was from Bharti Enterprises, Bharat Semi Systems, Biocon Group, Blue Star Limited, Essar Group, Hero Enterprise, Jet Synthesis, Piramal Group, Reliance Industries, Tata Steel, TVS Motor Company, TVS Supply Chain Solutions, and UPL Limited.
On 18 November 2024, Prime Minister Starmer met with Prime Minister Modi, where he announced that UK-India trade talks will relaunch in the new year.
Foreign Secretary David Lammy met External Affairs Minister Dr S. Jaishankar and Prime Minister Modi in July 2024 in New Delhi. His visit saw the launch of the UK-India Technology Security Initiative (TSI).
According to Grant Thornton, there are 971 Indian companies in the UK employing 118,430 people and 667 UK companies in India, employing 523,460 people http://ukibc.com.
In 2023-24, India was the UK’s second largest source of investment in terms of number of new projects for the fifth consecutive year; total 108 projects creating 7,533 new jobs. Fiinews.com
