The G7: another positive step for the Indian-British relationship
Today, Cornwall welcomes the G7 for an international conference of leading wealthy democratic nations, with India, South Africa, South Korea and Australia invited as guests, to discuss global challenges facing the world, Top of the agenda will be a rising China, an assertive Russia and the ever-growing threat of global warming.
The Indian Prime Minister Narendi Modi is likely to attend the session virtually. This is indicative of the incredible economic growth, as well as growing tensions, in the Indo-Pacific, as well as India’s incredible economic growth and growing influence in the West.
The Anglo-Indian relationship is a significant priority for Johnson and the British Government since leaving the EU, and since the headway towards a full free trade agreement was made in the previous meetings between the two leaders. It is not just Indian consumers and producers on the minds of the British Government and businesses, but also Indian investors, as the UK is the donation for over 50% of all Indian foreign direct investment flow according to research from Ernest and Young.
Research from JPIN VCATS shows that this goes both ways, as India and the emerging markets are at the forefront of the minds of British investors:
13,799,000 people in the UK want to invest in emerging markets
Of these, 29% want to invest in fintech
Over two-thirds (35%) want to invest in the biotech and pharmaceuticals sectors
19% (2,680,000) want to invest in the startup sector
Nayan Gala, co-founder of JPIN VCATS, comments on the G7 and what it means for India and Britain:
“Although India’s state visits have just been virtual, the G7 will be another meeting between Johnson and Modi. It signals India’s growing presence on the world stage, as well as their position at the heart of one of the most profitable and important regions in the world right now – the Indo-Pacific.
Britain and India’s relationship is a close and important one, and as they become more economically intertwined and make further progress towards a full free trade agreement, this will only become more apparent.”