Lord Mayor of London Champions Free Trade During Visit to India
London, February 14 (PTI) – The Lord Mayor of London is embarking on a mission to promote free trade and enhance bilateral capital flows as he begins an extensive week-long visit to India this Saturday.
Alderman Alastair King, the 696th Lord Mayor and representative of the City of London’s financial sector, will focus his discussions in Mumbai around his designated theme: “Unleashing Growth.”
Background on the Visit
This visit comes as UK Business and Trade Secretary Jonathan Reynolds prepares for his own trip to India later this month, aiming to revitalize discussions regarding the stalled UK-India Free Trade Agreement (FTA). Last year’s general elections in both countries had temporarily hampered these negotiations.
Strategic Meetings and Objectives
During his time in Mumbai, Alderman King plans to engage with British governmental trade representatives alongside prominent Indian banking entities such as HDFC Bank, State Bank of India (SBI), Reserve Bank of India (RBI), and Securities and Exchange Board of India (SEBI).
“The ’Unleashing Growth’ theme is aimed at encouraging British enterprises to explore burgeoning markets like India,” stated Alderman King prior to his departure. “This initiative encourages them not just to enter these markets but actively engage with them.”
The Significance of Indo-UK Trade Relations
The importance of the trading partnership between the UK and India cannot be overstated; it accounts for approximately GBP 41 billion annually. This collaboration assumes heightened significance amid global trade tensions emanating from ongoing tariff disputes with other nations.
“In these challenging times, it’s crucial that we affirm our commitment towards expanding trade with each other. There are exceptional opportunities available for collaboration between our two nations—particularly concerning infrastructure investments along with financial and legal services,” remarked King.
Future Opportunities in Financial Services
Alderman King’s activities also aim at attracting increased investment from Indian firms into London’s distinguished financial landscape. Reflecting on personal experiences, he mentioned that many Indians view London as a secondary home—a testament to a continuously strengthening relationship forged over years.
“Having previously operated businesses focused on container shipping back when I worked in Mumbai makes me optimistic about India’s future within global logistics. As India’s integration into international commerce deepens over the next quarter-century, it presents an incredible narrative moving forward,” he added.
The Growth Potential Ahead
The sessions planned by Alderman King during this visit intend not only to spotlight the potency within financial services but also offer platforms aimed at negotiating smoother pathways related specifically around investment assurances and business mobility—a cornerstone for mutual growth across both economies.
“With over 678,000 professionals employed within London’s Square Mile – rankled as one globally leading international finance centers – it’s vital we keep attracting skilled minds worldwide,” expressed King. “Among those whom we seek are talented individuals from India.”
(PTI AK NSA NSA)This report has been generated automatically via PTI news service; ThePrint remains removed from its contents responsibility.
