London Deputy Mayor (Trade) Rajesh Agrawal said the UK and India had a strong will to finalize the proposed Free Trade Agreement (FTA).
Agrawal told PTI ahead of the three-day Pravasi Bharatiya Divas (PBD) Congress that begins in Indore on Sunday and said the two countries have many opportunities to strengthen partnerships in information technology, defense, professional services and other areas. said there is
“Several talks have been held between the UK and India to strengthen the bilateral partnership to finalize the FTA. Both sides have very strong wills on the FTA,” Agrawal said. rice field.
He said there are many opportunities to strengthen partnerships between the two countries in areas such as IT, defense, professional services, legal services, life sciences and start-ups.
Economic ties between the two countries can be inferred from the fact that Indian companies, including the Tata Group and individual IT firms, provide about 80,000 jobs in London alone, he said.
Agrawal added that even while COVID-19 was raging, Indian companies were expanding their operations around the world, an indicator of the country’s economic development.
Asked about a possible slowdown in the global economy, Agrawal said, “India’s local market is very strong and the country’s economy is very resilient. Global events affect all countries to some extent. However, India generally feels safe (from the threat of an economic slowdown).”
He said India is one of the leading countries for IT and pharmaceutical manufacturing, and industrial production activities are also picking up pace.
“The world is watching India because it is the fastest growing economy and a growth engine for the world,” he said.
Agrawal also said that in talented India, the government seems willing to encourage investment and entrepreneurship.
“India’s greatest strength is its democracy and the friendliness of the West towards India,” he said.
Emphasizing the contribution of the Indian diaspora in the country’s development, Agrawal said the diaspora sends about $90 billion to the country each year.
“Prime Minister Narendra Modi is absolutely right that the NRI is like a living bridge between India and the world. Indians abroad are India’s unofficial ambassadors to the world and “We’re strengthening the brand,” he said.
Born and raised in Indore, Agrawal is the first Indian to serve two consecutive terms as Deputy Mayor of London.
“There are about 6.5 million people of Indian descent living in London, who have made significant contributions to London’s politics, economy, arts and culture,” he said.
Agrawal said his hometown of Indore already has a global reputation as India’s cleanest city.
Known as the commercial center of Madhya Pradesh, Indore has huge investment potential in soybean, millet and dairy processing, he added.
