Starmer hosts Indian businessmen to boost investments

PTI London: Prime Minister Keir Starmer hosted a delegation of 13 Indian companies at 10 Downing Street in London on what the British government described as a “curated visit” to enhance the bilateral partnership and boost investment flows. The visit on Wednesday follows Starmer's meeting with Prime Minister Narendra Modi on the sidelines of the G20 Summit last month, when the leaders committed to take forward an “ambitious” UK-India Comprehensive Strategic Partnership with collaboration opportunities on economic growth, security and defence, technology, climate, health, and education.

According to a readout from the British High Commission in New Delhi, the Indian investors and CEOs also met senior Cabinet ministers to discuss job creation and growth opportunities under a proposed India-UK trade deal after Starmer had confirmed the relaunch of Free Trade Agreement (FTA) negotiations early in the new year. “India is a vital partner for the UK and we have huge ambition to unlock more opportunities together, building on our already strong relationship,” said Starmer, with reference to the business meeting. “I'm delighted to welcome some of India's most senior business leaders to Downing Street and to outline the UK's ambitious focus on economic growth and innovation,” he said. The delegation, supported by the Confederation of Indian Industry (CII), discussed deepening ties with Chancellor of the Exchequer Rachel Reeves and Foreign Secretary David Lammy. Meanwhile, Business and Trade Secretary Jonathan Reynolds and minister for trade policy Douglas Alexander discussed bilateral trade, worth GBP 42 billion a year and supporting over 600,000 jobs across both economies as per UK government statistics.

“As one of the most globally connected economies in the G20, the UK provides unmatched opportunities for Indian businesses to thrive. India already accounts for the second highest number of FDI projects into the UK, and this government is committed to deepening our trade and investment links with India even further,” said Reynolds. “Boosting investment is a mission at the heart of this government. It was great to hear first-hand from Indian business leaders on why so many of them have given us a vote of confidence and chosen to invest here,” he said.