What Will Be the Focus on Trade and Investment During PM Modi’s UK Visit?

Synopsis
Key Takeaways
- Emphasis on Trade and Investment: Focus on enhancing economic ties between India and the UK.
- India-UK Free Trade Agreement: Main negotiations concluded, with legal processes pending.
- Comprehensive Strategic Partnership: Review of various sectors, including technology and defense.
- Bilateral Engagement: Important discussions expected to strengthen ties.
- Future Cooperation: Potential for new areas of collaboration to be explored.
London, July 23 (NationPress) Vikram Doraiswami, the Indian High Commissioner to the United Kingdom, has stated that Prime Minister Narendra Modi’s forthcoming trip to the UK is set to prioritize trade, investment, and the enhancement of economic relations between the two nations. Speaking with IANS in anticipation of the visit, Doraiswami emphasized that both countries are gearing up to advance the India-UK Free Trade Agreement (FTA) and fortify their strategic collaboration.
“Our entire team is engaged in preparations in London for the visit,” Doraiswami remarked, highlighting the significance of this bilateral engagement.
“We will engage in extensive discussions related to trade and investment, particularly focusing on the execution of the trade agreement once it is finalized and how both nations can further enhance their economic partnerships. Indian businesses operating in the UK are generally pleased; they have received favorable market access,” he added.
Regarding the India-UK Free Trade Agreement (FTA), Doraiswami mentioned that while the core negotiations have been wrapped up, certain formalities are still pending.
“The principal negotiations have been finalized, as confirmed by the Prime Minister's counterparts on May 6. Nonetheless, some documentation remains to be completed. This process, referred to as 'legal scrubbing', ensures that the agreement is legally robust and all necessary documentation is prepared for finalization,” he clarified.
Prime Minister Modi's visit to the UK is scheduled for July 23-24, following an invitation from British Prime Minister Keir Starmer, marking his fourth official visit to the nation.
As per the Ministry of External Affairs, the visit aims to conduct a thorough review of the India-UK Comprehensive Strategic Partnership (CSP), encompassing discussions on trade and economy, technology and innovation, defense and security, climate, health, education, and people-to-people connections.
The leaders will also discuss regional and global issues of mutual interest. This visit is anticipated to revitalize bilateral relations and set the stage for new avenues of cooperation, including the long-awaited FTA.