India is strengthening its economic and diplomatic ties with the United Kingdom, with fresh initiatives aimed at expanding their £41 billion trading agreement. External Affairs Minister S. Jaishankar is in the UK to advance negotiations on trade, investment, and strategic relations. His visit is anticipated to speed up ongoing negotiations and create new prospects for collaboration.
As part of this increasing connection, India will establish two new consulates in Belfast and Manchester. This action is intended to boost regional economic involvement, increase investment relations, and provide extra assistance to the Indian diaspora in these regions. The British High Commission highlighted that Indian FDI in the UK increased by 28% by the end of 2023, keeping India as the second-largest investor in FDI projects for the fifth year in a row.
Jaishankar and UK Foreign Secretary David Lammy met at Chevening House to discuss ways to deepen the UK-India Comprehensive Strategic Partnership. They concentrated on trade, climate change, and global security concerns, such as the Russia-Ukraine crisis and Middle East developments.
The UK also applauded India’s move to raise the FDI threshold in the insurance sector from 74% to 100%, allowing British companies to expand in India.
