UK India Business Council Congratulates Prime Minister Narendra Modi for Being Sworn in for his Third Consecutive Term

UK India Business Council Congratulates Prime Minister Narendra Modi for Being Sworn in for his Third Consecutive Term

New Delhi, June 10, 2024: The UK India Business Council congratulates Hon’ble Prime Minister Narendra Modi taking charge for his third consecutive term, after the NDA won the Lok Sabha Election 2024. We also extend our congratulations and best wishes to the newly elected Cabinet of Ministers.

UKIBC is looking forward to a deep and impactful engagement with PM Modi and the Cabinet to deepen the UK[1]India partnership, supporting economic growth, job creation and prosperity in both countries.

The UK and India partnership is strong and comprehensive, evidenced by growing trade and investment across sectors; collaboration on R&D, innovation and technology; and a thriving people-to-people “Living Bridge”.

Richard McCallum, Group Chief Executive Officer, UK India Business Council, congratulates Prime Minster and the new Cabinet of Ministers, “We look forward to Prime Minister Narendra Modi’s third tenure and working closely with his administration to support an equal and progressive economic partnership between the UK and India. We share strong bilateral relations on both sides, which has been key to the success of the partnership over the years. India’s economic performance is a bright spot for the world. Through sustained political will and cross-stakeholder collaboration, the huge scope and untapped potential of the bilateral relationship is well-placed to grow.

We have supported more than 800 UK and Indian businesses. I strongly believe India is not simply a market but a strategic partner – a message UKIBC champions with UK investors. We look forward to the next-generation of policy reforms and a successful conclusion of the UK-India Free Trade Agreement to unlock the full scale of opportunities for British investors.”

India and the UK are the world’s 5th and 6th biggest economies, vibrant and modern democracies, and share great economic synergies. The UK is a world leader in finance, engineering and advanced manufacturing technology. India is a world leader in digital public infrastructure and home to highly skilled young talent and is growing in manufacturing might under the Make in India initiative.

Both countries agreed a Comprehensive Strategic Partnership in 2021 and an associated 2030 Roadmap, with an aim to double bilateral trade this decade and revitalise our relationship through cooperation on shared priorities such as climate action, defence, healthcare, education and people to people connections.

The UKIBC, since its inception, has worked closely with the Indian and UK governments, serving as a conduit for business engagement and expertise that supports continued improvement in business climate and helps grow bilateral trade and investment. We believe the UK-India partnership can become even stronger. We look forward to the successful conclusion of FTA negotiations, delivering a win-win Agreement. We also look forward to further economic development and reform in India, including continued:

– enhancement of physical and digital infrastructure;

– focus on education and skills development; and

– policy reform, included the journey of trade integration with other countries via FTAs. We understand

and support the importance of regulatory rigour within a fair, investor-friendly environment that offers investor protection, certainty and policy stability.

These three factors, taken together, will make India an ever-more compelling investment destination for UK companies, and will lead to job creation, new technologies and IP, and increased exports. All strengthen the economy, and all accelerate India’s development.

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About the UKIBC

UKIBC is a policy advocacy and strategic consulting not-for-profit, with a mission to grow the UK-India trade and investment. To do that, we provide strategic and practical support to businesses and universities to explore, enter, and expand in both markets.

We want to help more UK businesses to uncover opportunities and succeed in India.

Businesses looking at the India opportunity need to develop a strategy based on factual market insights, and then implement that strategy. The UK India Business Council has the knowledge, networks, and people to help do this.

UK-India collaboration creates prosperity and jobs in both countries, and UK and Indian business have ideas, technology, services and products which improve lives. We work closely with the UK and Indian governments, the devolved administrations, England’s city regions, and State governments across India. We believe a strong UK-India economic partnership is a force for positive change globally.

For more information, please contact:

Nishtha Grover

Senior Manager – Communications, UK India Business Council

Mobile – +91 9818021223

Email- Nishtha.grover@ukibc.com