The Chief Executive Officer of the UK India Business Council, Richard McCallum, expressed optimism about the economic relationship between the United Kingdom and India. He noted that businesses from the UK are closely looking at India for talent, supply chain integration, and market opportunities. McCallum highlighted the growing interest from UK businesses in sectors such as defence, advanced manufacturing, technology, digital services, and education. He emphasized areas of collaboration between the two countries, including robotics, artificial intelligence, green technology, and digital public infrastructure.
The UKIBC is actively supporting companies seeking to diversify their supply chains by moving manufacturing operations to India, particularly as an alternative to China. McCallum also highlighted the potential for collaboration in the defence sector, emphasizing the opportunity for co-creation and co-development of equipment in India.
Regarding the India-UK free trade agreement (FTA), McCallum mentioned that good progress has been made, with the majority of chapters closed. He emphasized the importance of taking the necessary time to ensure the agreement is done right. The UKIBC has been actively consulting with businesses and sharing their inputs with both governments during the negotiation process.
McCallum addressed the recent UK government announcement regarding student visas, stating that while the decision to disallow students from bringing dependents is disappointing, it is unlikely to have a significant impact on overall movement into the UK. He highlighted the continued availability of the post-study work visa and the desire of UK universities to attract more Indian students.
Overall, McCallum’s remarks reflect the positive outlook on the economic relationship between the UK and India, with a focus on various sectors of collaboration, progress in the FTA negotiations, and the importance of student mobility.
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