Recently, it was officially announced that the Britain minister for the Indo-Pacific is now going to visit India in October 2023. The minister is going to visit India to push Britain to tilt the region as per the persons who are aware of the matter. Anne Marie-Trevelyan who is currently serving as the minister who is responsible for the region and now it is expected to focus on the economic engagement with India at the time of the visit. There are two sides in the process of negotiating the free trade agreement and it is also looking to take some more joint projects with India neighborhood. Read to know everything.
In 2024, the precious list of countries for India-UK collaboration is going to be put together. As we all know the relationship between the UK and India is very strong. But in the next ten years, they are seeking a transformation in the corporation that is across their range which has been shared in the interests. Currently, India is the largest democracy in the entire world as per the reports. The action toward the Indo-Pacific has arrived after the trade between India and the United Kingdom doubled from 2007 to 2019. Scroll down to know more.
As per the data, the total bilateral trade in goods and services stood at 36.3 billion pounds in quarter four at the end of quarter one 2023. From that time the investments have also grown up. As of 2021, the stock of foreign direct investment from the United Kingdom in India was a total of 19.1 billion pounds which accounts for 1.1% of the UK’s outward foreign direct investment stock. The priorities of the UK and India are to include the re-energized trade and investment and also enhancing the defense that has cooperated which also brings the more secure Indian Ocean region. Keep reading till the end.
According to the officials, the two sides are currently in the process of negotiating the bilateral FTA and also looking in so that it can take on some more joint projects with the neighborhood of India. Anne Marie-Trevelyan is now all set to visit India and she is going to focus on the economic engagements with India at this time. More information regarding this topic will going to be shared very soon till then keep following techballad.