EDITORIALS & ARTICLES

India- UK Relations

  • The United Kingdom has long held the belief in trade as a force for growth and prosperity.
  • The UK is looking forward to forging trade deals with booming economies such as India.
  • The UK aiming to Collaborate on issues such as global value chain resilience and digitalisation of trade documents because it is key to harnessing the true value of global trade.
  • India’s middle class will increase to a quarter of a billion middle-class consumers by 2050, any improvements on the India-U.K. trading relationship could be a huge boost for U.K. businesses.

India-U.K. Trade Relations

  • The U.K. and India share a thriving trading relationship, which was worth £36 billion in 2022.
  • India-U.K. trade and investment relationship goes both ways.
  • India retained its position as the U.K.’s second largest source of investment projects in 2022 (U.K.’s Department for Business and Trade).
    • U.K. was chosen as the home of Tata Group’s first gigafactory outside India, in a move set to create thousands of jobs and bring a huge boost to the U.K.’s automotive sector.
  • India’s sixth largest investor, between 2000 and 2023, the U.K. has invested $34 billion in India in foreign direct investment.
  • India- United Kingdom Free Trade Agreement (FTA) talks are yet to address issues on areas including goods, services, and investment.

Relationship beyond trade:

  • The U.K. and India’s strong partnership extends into culturesporteducation and tourism.
  • Indian diaspora of over 1.6 million people makes a significant contribution across all walks of life in the U.K., from education through to the workforce, with Indian students making up one of the U.K.’s largest groups of international students.
  • Indian diaspora with over 1.6 million people, contributes significantly to education and workforce.
    • Indian students form the U.K.’s largest group of international students.

Alive with Opportunity campaign

  • U.K. is launching ‘Alive with Opportunity’ which is a £1.5 million marketing campaign designed to showcase the bond between U.K. and India.
  •  The campaign builds on the continuous exchange of peopleideas and culture.
  • As part of the U.K.’s ambitions to double trade with India by 2030, the campaign aims to:
    • Stimulate interest and demand for U.K. goods and services
  • Increase the U.K.’s ability to grow their business through trade with India
  • Attract new Indian inward investment.

People to people exchange between India-U.K.

  • India and U.K. signed Migration and Mobility Partnership (MMP) agreement with the intention to address easy movement of working professional between the two countries.
  • PM of India and U.K. announced young professional scheme.
    • Under the scheme, 3000 visa will be provided every year to graduates between the age of 18-30.
    • They will get 2-year visa to live and work in each other’s country.






POSTED ON 27-08-2023 BY ADMIN
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