India and UK Have Strong Will to Finalise FTA, Says London Deputy Mayor

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Last Updated: January 07, 2023, 13:27 IST

Agrawal said his hometown Indore has already made its global mark as the cleanest city in India. (Photo by @RajeshAgrawal)

Agrawal mentioned his hometown Indore has already made its international mark because the cleanest metropolis in India. (Photo by @RajeshAgrawal)

London Deputy Mayor (commerce) Rajesh Agrawal has mentioned the UK and India possess a robust will to give the ultimate form to the proposed Free Trade Agreement (FTA).

London Deputy Mayor (commerce) Rajesh Agrawal has mentioned the UK and India possess a robust will to give the ultimate form to the proposed Free Trade Agreement (FTA).

Speaking to PTI forward of the three-day Pravasi Bharatiya Divas (PBD) conference starting right here on Sunday, Agrawal additionally mentioned each international locations have many alternatives to enhance their partnerships in Information Technology, defence, skilled providers, and different sectors.

“Several rounds of talks have been held between the UK and India to improve the bilateral partnership for finalising the FTA. The willpower of each side could be very robust concerning the FTA,” Agrawal said.

He said there are many opportunities to enhance the partnership between the two countries in the sectors such as IT, defence, professional services, legal services, life sciences, and start-ups.

The economic relationship between the two countries can be gauged from the fact that Indian companies, including the Tata Group and individual IT firms, are providing around 80,000 jobs in London alone, he said.

Even during the fierce COVID-19 outbreak, Indian companies have increased their businesses across the world, which is an indicator of the country’s economic progress, Agrawal added.

Queried on the possibility of an economic slowdown in the world, Agrawal said, “India’s local market is very strong and the country’s economy is highly resilient. Although global events do have some impact on every country, I feel India is largely safe from it (from the threat of economic slowdown)”.

He mentioned India is without doubt one of the main international locations in IT and pharmaceutical manufacturing, and added industrial manufacturing actions are additionally selecting up tempo.

“The world is trying in the direction of India as it’s the quickest rising economic system and the worldwide progress engine”, he said.

Agrawal also said in talent-rich India, the government appears to have the will to encourage investment and entrepreneurship.

“India’s biggest strength is its democracy and friendliness of western countries towards India,” he mentioned.

Underlining the contribution of the Indian diaspora within the improvement of the nation, Agrawal mentioned the diaspora sends round $90 billion yearly to their nation.

“Prime Minister Narendra Modi’s assertion is completely right that NRIs are like a residing bridge between India and the world. Overseas Indians are the nation’s unofficial ambassadors to the world and they’re strengthening the model India,” he said.

Born and brought up in Indore, Agrawal is the first person of Indian origin to serve as the Deputy Mayor of London for a second consecutive term.

“There are about 6.5 lakh people of Indian origin living in London and they have made a huge contribution to the politics, economy, arts and culture there”, he mentioned.

Agrawal mentioned his hometown Indore has already made its international mark because the cleanest metropolis in India.

Indore, often called the business capital of Madhya Pradesh, has big funding potential in processing soybean, millets and dairy, he added.

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(This story has not been edited by News18 workers and is revealed from a syndicated information company feed)

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