EDITORIAL: THE U.K-INDIA RELATIONSHIP IS ALIVE WITH OPPORTUNITY
CURRENT AFFAIRS FOR 24TH AUGUST, 2023
EDITORIAL: THE U.K-INDIA RELATIONSHIP IS ALIVE WITH OPPORTUNITY
The U.K. is launching 'Alive with Opportunity', a £1.5 million marketing campaign designed to showcase the tremendous bond between the two countries and build on the continuous exchange of people, ideas and culture.
As part of the UK's ambitions to double trade with India by 2030, the campaign aims to stimulate interest and demand for U.K. goods and services, and attract new Indian inward investment.
India and the U.K have a thriving trade relationship, which was worth £36 billion in 2022.
India retained its position as U.K.'s second largest source of investment projects in the last financial year, and U.K was India's sixth largest investor.
There are 618 U.K companies in India with a combined turnover of around $50 billion employing about 466,640 people directly as of 2021.
Last month, U.K. was chosen as the home of Tata Group's first gigafactory outside India, in a move set to create thousands of jobs and bring a huge boost to U.K.'s automotive sector.
But the U.K. and India share a strong partnership that goes beyond trade and investment into culture, sport, education and tourism too; as prime PM Modi said there is very much a 'living bridge' between the two nations.