Tuesday, June 6, 2023

India and UK officials to discuss bilateral cooperation, economic development

International relations between the United Kingdom are referred to as India–United Kingdom relations, Indian–British relations or Indo–British relations. India has two Consulates General – one in Birmingham and one in Edinburgh – and a fixed fee one in London. In addition to the High Commission in New Delhi, five Deputy High Commissioners are located in Mumbai, Gujarat, Chennai, Bangalore, Hyderabad and Kolkata.
There are over 1.5 million Indians living in the United Kingdom. In 2010, David, a former British Prime Minister, also sees the relationship between India and the UK as a “new special relationship”.

Rishi Sunak was elected Britain’s head of state on October 25, 2022, creating history as the first person of Indian heritage and the inaugural British Asian to hold that office.

In collaboration with the UK India Chamber of Commerce and Industry, the High Commission of India in the UK launched the Access India initiative in September 2017. This innovative program was created to help more UK SMEs export to India.

Small and medium-sized companies have no base in India, even though many large UK companies have them. India believes that the Access to India program will encourage British SMEs to sell in India as well as produce in India furthering the goals of the Make in Indian project.

Arun Jaitley - Wikipedia

Arun Jaitley, Finance Minister of India, and Philip Hammond, Chancellor of the Exchequer of the United Kingdom, met after the 9th UK-India Financial and Economic Dialogue and according to Jaitley decided to have a reciprocal free dialogue. Jaitley said that the settlement would not begin until after Brexit.

Economic discussion between India and Britain

The Economic Policy Group (EPG) is convening its change-makers, policymakers, and corporate leaders for a high-level conversation on key topics, dubbed “India Week 2023”, as the UK and India continue to work towards free trade are negotiating a bilateral agreement.

These trends will be honored during EPG India Week, which will take place in Leicestershire, Oxford and London from May 7-12, 2023.

A free-trade agreement between India and the UK fosters growth and prosperity, by improving import and export flows, investment flows (both internal and external), productivity through more effective resource allocation, and increased openness to global competition.

Oxford University |  History, College, and Notable Alumni |  Britannica

In association with WBR, the India Week 2023 conference kicks off with an exclusive CEOs Golf Weekend on 7-8 May before heading to Oxford University for an only awards ceremony and education leaders conference on 9 May.

This will be followed by the Main Ideas for India event in London on 11 and 12 May at Parliament House as well as a special banquet between the UK and India. This seminar will be organized in association with Tank Bridge India.

Look to the future as well as the strong relationship between our two countries, according to Lord Tariq Ahmed, the Secretary of State there at the FCDO.

Angela Rainer - Wikipedia

Labor Party deputy leader Angela Rayner said it was an honor to speak at the convention, adding that “members of the Indian diaspora are also at the core of our communities.”

“India’s economic growth rate is one of the largest among large economies today, while China struggles with stalled infrastructure projects, bad debt of local government, zero-covid policy and aging population,” said Prateek Dattani, general manager of EPG.

India has a low inflation rate as compared to the US, UK and other large economies. India stands to benefit as the West diversifies its supply networks and geopolitical dependencies away from China.

This week’s glimpse of true globalization of India. With over 600 guests throughout the week, with over 100 participants from India,” he continued.

Meanwhile, Rishi’s appointment as a minority to the post of British Prime Minister cemented the unique link between the two countries. The Financial Times and The Economist recently predicted that this would be “India’s coming decade of outperformance” and “This is India’s moment”, respectively.

Also, Sunak’s selection as the party leader of UK will help in resolving the issues of the proposed trade deal between India and UK.

2 major parties in the UK, 7 political parties in India, including Dr. Ashwath Narayan (Minister of Higher Education, IT, BT, Skill Development and Livelihoods, Karnataka) and Tejashwi Yadav in the most recent iteration of the event (Dep.) ran away. Chief Minister, Bihar).

UK and India announce a new era in economic bilateral ties

The Prime Ministers of the UK and India have pledged to improve ties between the countries over the coming ten years, bring our countries’ economies together and boost cooperation in areas that are important to both.

In today’s virtual meeting the two leaders touched upon a “2030 Roadmap” which will recall ties between the UK and India in the areas of health, environment, commerce, education, science and technology and defence. The roadmap includes pledges to:

• Strengthen the UK-India health relationship, to improve global health security and pandemic resistance. Strengthening global supply networks is essential to guaranteeing medical supplies and other medical supplies reach those who need them most.

• Expand UK-India co-operation on combating climate change by collaborating to achieve an aspirational outcome at COP26. This would include accelerating clean energy, transportation and biodiversity, and assisting them in their efforts to adapt to the effects of climate change.

• Establish an enhanced commerce partnership of intent to strengthen the economic relationship between the UK and India and take forward an agreement on free trade to double trade between the two countries over the next 10 years.

• Increasing collaboration between Indian and British institutions in areas including climate science, new technology and health. Bringing businesses together to help bring leading-edge solutions to the communities that need them most. People’s Lives in Africa, Asia, the Indian Ocean, the UK and India have established a global innovation partnership.

• Co-invest in environmental and health technologies from India. In addition, it emphasizes the continuation of the UK-India Research and Education Initiative (UKIERI) to build on the important work it is doing to link the higher research and education sectors and the people who work in them.

• Working together, confront all threats to our common security. The UK’s Carrier Strike Force will spend days later this year taking this work forward with our Navy and Air Force conducting joint training exercises to allow future co-operation over the Western Indian Ocean.

• Improve our relationship with immigration to encourage Britons and Indians to live and work in each other’s countries.

British and Indian international ministries will evaluate progress towards the objectives of the 2030 Roadmap on an annual basis, and ministers from the two countries will meet frequently to advance their common goals.

The review has been fully reviewed in the Integrated Review of UK Security, Defence, Development and Foreign Policy, which was released in March this year. It emphasizes how important the Indo-Pacific region is to the security and prosperity of the UK.

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