FICCI welcomes the announcement of £1 billion invest boost by UK and India

LONDON, 04 May 2021: Welcoming the announcement by Britain and India of a private sector led investment of £1 billion, Baroness Prashar, Chairperson, FICCI UK Council said, “It is heartening to see the announcement of more than £533 million by Indian private sector that will create over 6,000 jobs and investments in sectors like healthcare, technology will help build better economic links between the two countries.”

She further said, “Announcement of deals worth £200 million to support low carbon growth demonstrates the commitment to sustainable economic growth. FICCI’s report ‘ASCENT: The New Horizon of Trade Relations’ highlighted that with a robust economic foundation based on job creation and shared prosperity, trade and investment between the UK and India has the potential to increase to £50 billion.”

Commenting on the announcement, Mr Uday Shankar, President, FICCI said, “We are pleased to see that the British Government also hopes that the Enhanced Trade Partnership will by 2030 double bilateral trade from its current level of around 23 billion pounds per year. We are happy to see the ‘Roadmap 2030’ being adopted to elevate bilateral ties to a ‘Comprehensive Strategic Partnership. The announcement about the discussions on the full Free Trade Agreement starting as early as Autumn this year is also very encouraging for businesses from both the countries.”