UK Secretaries of State herald new era of UK-India trade relations
By UK India Business Council (UKIBC)
The new Secretaries of State for International Development and Business and Energy, have heralded the deepening of the 'strategic partnership' between the UK and India, in light of the UK’s decision to leave the European Union.
Image credit: UK High Commission, New Delhi
At the end of a three day visit to India last week, the International Development Secretary and UK Indian Diaspora Champion, Priti Patel, claimed that the UK and India are “deepening their strategic partnership in areas such as financial services, investment and skills-sharing.”
With India’s economic growth reaching 7.9 per cent in the last quarter, and the country’s workforce standing at around 500 million strong, the UK government has identified the need to focus on “areas of shared interest” between the two countries.
During her three-day visit, Ms Patel held talks with Prime Minister Modi, where they discussed a package of UK technical assistance and support for India to boost economic growth, jobs and trade, which will also benefit Britain.
The International Development Secretary also met a range of Indian Government ministers, including for finance, urban development and external affairs – underlining to each that the UK, despite voting to leave the European Union, remains an outward-looking and internationally engaged nation.
“Britain is an outward-looking and global nation and Department for International Development (DfID) will continue to support the UK’s trading partners of the future, working closely with the Foreign and Commonwealth Office and the new Department for International Trade, and creating opportunities for British businesses too,” said Ms Patel.
Ms Patel becomes the third ministerial visit to India in the last month, following the Foreign Office Minister, Alok Sharma, and the Secretary of State for Business, Energy and Industrial Strategy, Greg Clark, who visited in July and early August respectively.
On his visit, Mr Clark said: “The UK has a long-standing trade relationship with India and we want this to grow and prosper. That is why I wanted to meet with government ministers and key business leaders in the country to make clear that the UK is open for business and will continue to thrive on the world stage.”
Mr Sharma struck a similar tone on his visit last month, saying: “Britain is open for business. We want the strongest possible relationship with India and I want to continue our vital strategic partnership on this visit and in my new role.”
The new Secretary of State for International Trade, Liam Fox, is also due to visit India next week, and with the post-Brexit settlement beginning to emerge, he will be keen to hear the views of Indian businesses and government officials.
It is clear from these visits that following the result of the EU referendum, the UK Government is committed to developing and deepening the UK-India strategic partnership. This will provide some comfort to businesses in the UK and India, who will welcome any reassurance after the UK’s vote to leave the EU on June 23rd.
If you would like to know the UK India Business Council’s position on Brexit, and its implications for UK-India economic relations – you can read our statement here.
