UK India Business Council Makes Strategic Recommendations ahead of UK Election to Strengthen UK – India Ties
By Trisha Nagpal
and Richard McCallum
New Delhi, June 20, 2024: Ahead of the UK General Election on 4 July, the UK India Business Council (UKIBC) released its manifesto for a stronger UK-India partnership, entitled Partnership for Growth. The report recognises India as an increasingly important geopolitical player and a major economy –soon to be [the world’s third largest – and sets out why the new UK Government must prioritise its partnership with India.
Joint R&D is unlocking prosperity and making globally significant breakthroughs in areas such as healthcare and climate change. The partnership is underpinned by a ‘living bridge’ – especially students who find opportunities to study in both countries.
And yet there is so much more to be achieved.
UKIBC believes that an incoming UK government must prioritise the relationship with India and aim for a future-facing partnership that brings benefit to both countries.
To achieve this, we encourage the incoming UK Government to:
➢ Build a long-term and equal, win-win, partnership with India
➢ Boost Trade and Investment, starting with a swiftly concluded FTA
➢ Catalyse more technology R&D partnerships
➢ Strengthen the defence and security partnership
➢ Build on the vital people-to-people links, facilitating two-way labour and student mobility
Richard McCallum, Group Chief Executive Officer, UK India Business Council, outlined future areas of mutual growth, “With elections being held in both countries within one month of each other, we have a great opportunity to refresh and expand the India-UK partnership. Our recommendations to the new UK government build on the existing Comprehensive Strategic Partnership.
The UK can play a significant role working with India on its journey to being a developed nation by 2047. This in turn will create growth, jobs and investment back in the UK.
The next UK government should encourage UK firms to see India as a source of talent, a hub for manufacturing, an R&D base, a place to innovate and scale – and a market. At the same time, we need to promote the City of London as the gateway to global growth for Indian businesses.
Our vision is a vibrant, equal economic partnership which creates jobs and prosperity in both countries and acts as a force for good globally.”
About the UKIBC
UKIBC is a policy advocacy and advisory 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.
Business 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
