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India - U.K Relation UPSC NOTE

 

India Hosting G-20 and UK's Approach to Trade:

  • India's hosting of the G-20 signifies its global prominence and commitment to international cooperation.

  • The United Kingdom values trade for growth and prosperity and advocates for free and fair trade globally.

  • The UK is pursuing trade deals with thriving economies like India and focuses on collaboration for global trade improvements.

Potential of the UK-India Trade Relationship:

  • The growing Indian middle class, predicted to reach 250 million by 2050, offers substantial opportunities for UK businesses.

  • The UK and India already have a strong trading relationship, with a trade worth £36 billion in 2022.

  • India remains the UK's second-largest source of investment projects, with 118 new projects creating jobs.

Bilateral Investment and Trade:

  • The UK is India's sixth-largest investor, with $34 billion foreign direct investment between 2000 and 2023.

  • Around 618 UK companies in India generate approximately $50 billion turnover and employ nearly 466,640 people.

Progress Towards a Free Trade Agreement (FTA):

  • Discussions are ongoing for an ambitious Free Trade Agreement (FTA) to enhance bilateral trade relations.

  • Complex talks involve areas like goods, services, and investment, aiming for a mutually beneficial agreement.

Strengthening UK-India Partnership:

  • Beyond trade, the UK and India share a robust partnership in culture, sports, education, and tourism.

  • The concept of a 'living bridge' between the nations is highlighted, evidenced by the shared affinity for Bollywood.

  • A significant Indian diaspora of over 1.6 million contributes to various aspects of life in the UK.

'Alive with Opportunity' Marketing Campaign:

  • The UK launches a £1.5 million marketing campaign called 'Alive with Opportunity' to highlight the strong UK-India bond.

  • The campaign aims to showcase cultural, trade, business, and sporting connections between the two countries.

  • The objective is to stimulate interest in UK goods and services, promote trade growth, and attract Indian investment.


Future Focus and Celebrating Opportunities:

  • The campaign will emphasize the thriving relationship between the UK and India through various media platforms.

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Learnerz IAS | Concept oriented UPSC Classes in Malayalam: India - U.K Relation UPSC NOTE
India - U.K Relation UPSC NOTE
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