The UK India Business Council welcomes Finance Minister Nirmala Sitharaman’s presentation of India’s Interim Budget 2024-25
By Trisha Nagpal
The UK India Business Council welcomes Finance Minister Nirmala Sitharaman’s presentation of India’s Interim Budget 2024-25 and its focus on guiding for the coming months.
India has shown transformational change over the last decade – as the Minister’s speech highlighted – whether it is poverty alleviation, gender equity, leveraging digital technology for inclusivity, building world-class infrastructure, and in many other areas.
India’s spin on women’s participation in the STEM Industry is a success at a global level. The UPI and digital infrastructure case study will benefit hundreds of millions across other countries as well. The continued emphasis on a people-centric, trust-based governance model will continue to be an exemplar time of economic growth.
The Minister spoke about multiple priority sectors. We’re particularly excited about the possibilities of partnerships between the UK and India.
UK companies are already playing a leading role for instance, in GIFT City, on financial services. There’s substantial collaboration on electric vehicles, where there is a strong cross-border R&D for design, manufacturing and battery capabilities.
Technological innovations have been the cornerstone of India’s transformation in recent years and the landmark UK-India R&D agreement provides an exciting platform to collaborate across business, academia, research and government. British Industry understands and supports Atmanirbhar Bharat. It also appreciates India’s need for greater self-reliance, supply chain stability, and access to critical technology. And British Industry is eager to invest even more in India.
We collectively recognise that the future lies in partnership; co-creation, co-development, and making in India, for the world. UK industry wants to continue be a reliable partner to India and Indian industry now and into the future.
RICHARD MCCALLUM on the release of the India Interim Budget 2024-25
