Lord Mayor of London Champions Free Trade During Visit to India
LONDON, Feb 14 (PTI) — Alderman Alastair King, the 696th Lord Mayor of London, is embarking on a mission to promote free trade and enhanced capital exchanges during his week-long trip to India starting Saturday.
Fostering Economic Growth: “Growth Unleashed”
As the global representative for London’s financial epicenter, Alderman King will concentrate his discussions in Mumbai around the theme of “Growth Unleashed” that defines his tenure as mayor. This initiative is aimed at motivating British companies to explore expansion opportunities in high-growth markets like India.
Strategic Meetings with Key Players
Alderman King’s agenda includes key meetings with UK government trade officials and prominent Indian financial institutions such as HDFC Bank, State Bank of India (SBI), Reserve Bank of India (RBI), and Securities and Exchange Board of India (SEBI).
The Road Ahead: Relaunching Free Trade Agreement
This india-a-game-changer-for-global-business/” title=”London's Lord Mayor Champions Freer Capital Flows in India: A Game-Changer for Global Business!”>visit precedes a forthcoming journey by UK Business and Trade Secretary Jonathan Reynolds later this month aimed at reinitiating negotiations for the stalled India-UK Free Trade Agreement. This agreement has faced delays due to electoral cycles in both nations last year. “The timing couldn’t be more opportune,” stated King regarding these developments.
Highlighting Opportunities Amidst Global Challenges
The Lord Mayor emphasizes the significance of strengthening the trading ties between India and the UK, valued at approximately £41 billion annually. Amid ongoing trade tensions globally—including tariff threats from the US—this partnership becomes increasingly vital.
“We must showcase our dedication toward expanding trade relations,” he remarked. He also pointed out exceptional areas for collaboration such as infrastructure investment along with services ranging from finance to legal frameworks. “With conducive conditions that bolster capital movement between our nations, we see fantastic potential,” he added.
Paving Paths for Indian Investment in Britain
The City of London Corporation aims to encourage greater investment from Indian firms into British markets by leveraging London’s renowned financial expertise. King notes that many Indians already view London as a second home—a sentiment he believes will continue to flourish over time.
A Long-Term Vision with Historical Insights
An experienced businessman himself who previously operated within Mumbai’s infrastructure sector shares insights on major investments like those in container shipping—highlighting prospects over a quarter-century underlining India’s growing integration into global commerce.
Strengthening Financial Services Collaboration
Dedicating part of his itinerary to engaging with financial service providers in Mumbai offers an excellent platform for discussing how both economies can capitalize on this crucial sector while focusing on simplifying trade via mechanisms protecting investment and promoting business mobility.
“There are 678,000 professionals employed within London’s Square Mile,” noted King when discussing workforce advantages. “Our status as a leading international financial center rests upon this vast pool of skilled talent; we need your brightest minds contributing here too – especially from India.”
