1. What is the significance of India hosting the G-20?
India's hosting of the G-20 underscores its role on the global stage for fostering international cooperation and addressing critical global issues.
2. How does the UK view trade with India?
The UK values trade as a driver of growth and prosperity, advocating for free and fair trade globally. The UK seeks to strengthen its trade relationships, including with India, by forging trade deals and collaborating on various trade-related aspects.
3. What are the current trading relations between the UK and India?
In 2022, the UK and India had a thriving trading relationship with a value of £36 billion. India remained the UK's second-largest source of investment projects, creating over 8,000 jobs. The UK has also significantly invested in India, with £34 billion in foreign direct investment between April 2000 and March 2023.
4. How are UK businesses involved in India?
UK businesses have a significant presence in India, with around 618 companies operating, employing approximately 466,640 people and generating a combined turnover of about $50 billion as of 2021.
5. What is the focus of the Free Trade Agreement (FTA) discussions between the UK and India?
The UK aims to secure an ambitious Free Trade Agreement with India to enhance bilateral trade further. The discussions cover a range of areas, including goods, services, and investment, with the goal of creating a mutually beneficial deal.
6. What recent developments highlight the UK-India partnership?
The Tata Group's decision to establish its first gigafactory outside India in the UK is a significant development that strengthens the economic ties between the two countries.
7. How does the UK-India partnership extend beyond trade?
The partnership encompasses culture, sports, education, and tourism. The UK's vibrant Indian diaspora of over 1.6 million contributes to various sectors, including education and the workforce.
8. What is the purpose of the 'Alive with Opportunity' marketing campaign?
The UK is launching a £1.5 million marketing campaign, 'Alive with Opportunity,' to showcase the strong bond between the UK and India. The campaign aims to highlight the exchange of people, ideas, and culture and promote trade, business growth, and Indian inward investment in the UK.
9. How does the campaign align with trade goals?
As part of the UK's aspiration to double trade with India by 2030, the campaign seeks to stimulate interest in UK goods and services, facilitate business growth through trade, and attract new Indian investment to the UK.
10. What can we expect from the campaign in the coming year?
The campaign will spotlight the UK-India relationship through billboards, celebrating business, trade, cultural, and sporting links, emphasizing the promising opportunities for collaboration between the two nations.