Now that the UK has secured a deal and left the EU, it should set its sights on the Indian subcontinent for a trade deal. Leading the charge with hard security, fintech, open internet initiatives, biotech and space technology, India is set to be a crucial partner going forward. Dominic Raab and Prime Minister Modi met in December, and Boris Johnson is also set to visit India this month to strengthen the relationship.
The UK-India trade and investment relationship is already worth around £24 billion and supports more than half a million jobs across the UK, providing great building blocks for a growing relationship going forward. And with India representing the third biggest hub of start-ups globally it could become even more crucial in the coming years.
Gaurav Singh, Founding Partner at JPIN VCATS, the biggest UK-India investment platform, comments on the importance of a solid relationship between the two countries:
“India is one of the world’s fastest growing economies, and presents huge potential as a key partner for trade and investment for the UK. India is a 21st century powerhouse and creating a strong UK-India trading relationship will help to fuel economic recovery in a post-Brexit, post-Covid UK.
“A trade deal will open the door to 1.3 billion potential customers for UK businesses, and provide opportunities for business improvement, consolidation, foreign expansion and diversification in a rapidly growing market.”
Gaurav is also available to discuss:
The importance of UK and India trade and future trade deals
The future of business investment with India
The growing startup hub that is the sub-continent
The impact of Brexit on the wider global ecosystem of SME investment