{"id":49242,"date":"2019-07-10T19:00:24","date_gmt":"2019-07-10T13:30:24","guid":{"rendered":"https:\/\/blogadmin.forumias.com\/?p=49242"},"modified":"2019-07-10T17:56:56","modified_gmt":"2019-07-10T12:26:56","slug":"7-pm-bowled-over-by-a-sea-of-blue-10th-july-2019","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/7-pm-bowled-over-by-a-sea-of-blue-10th-july-2019\/","title":{"rendered":"7 PM | Bowled over by a sea of blue | 10th July, 2019"},"content":{"rendered":"\n<p><strong><a href=\"https:\/\/drive.google.com\/open?id=1uUXUDu1RbNLFYdMcul6eHkqwdpWMlG4F\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Read&nbsp;In-depth analysis of all the Editorials here (opens in a new tab)\">Read&nbsp;In-depth analysis of all the Editorials here<\/a><\/strong><\/p>\n\n\n\n<p><strong>Context:<\/strong> India \u2013 UK relationship and its future prospects.<\/p>\n\n\n\n<p><strong>More\nin news:<\/strong>\n<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>London Tech week (10th \u2013 14th June 2019) is a series of events celebrating India-UK\nrelationship.<\/li><li>Next week, there is\nannual meeting of Joint Economic and Trade Committee (JETCO).<\/li><\/ul>\n\n\n\n<p><strong>Relationship between India and UK in recent times:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Economy Engagement: <\/strong>To support the\nStartup India initiative, UK will be investing \u00a3160 million across 75 start-up\nenterprises, apart from an additional \u00a320million for a Start-Up India Venture\nCapital Fund. State Bank of India (SBI) launched India\u2019s first bond index\nseries for overseas investors at the London Stock Exchange (LSE) in September\n2017<\/li><li><strong>Trade:\n<\/strong>Despite\nthe continuing global economic slowdown, the India-UK trade has been growing.\nAccording to the data published by the Department of Commerce, New Delhi,\ntwo-way merchandise trade during 2011-12 stood at US$16.19bn, surpassing the\nUSD12.537 billion in 2010-11, registering a growth of about 29%.<\/li><li><strong>Investment:\n<\/strong><strong>UK is the single\nlargest investor among the G20 countries in India.<\/strong><strong> <\/strong>UK is\nthe 4th largest inward investor in India, after Mauritius, Singapore and Japan\nwith a cumulative equity investment of US $26.09 billion (April 2000-June\n2018), accounting for around 7% of all foreign direct investment into India.\nIndia continued to be the third largest investor in the UK and emerged as the\nsecond largest international job creator with Indian companies having created\nover 110,000 jobs in the UK. <\/li><li><strong>Indian\nCommunity:<\/strong>\nOf Britain\u2019s population of 62.3 million, the population of Indian origin is\nestimated to be around 1.8 &#8211; 2 million, equating to almost 1.8 percent of the\npopulation and contributing 6% of the country\u2019s GDP.<\/li><li><strong>Multilateral\ncooperation:<\/strong> India and UK cooperate at the EU, G-20 and UN. UK\nsupports India\u2019s inclusion in UNSC as a permanent member. <\/li><li><strong>Culture:<\/strong> Cultural\nlinkages between India and UK are deep and extensive, arising out of shared\nhistory between the two countries. There has been a gradual mainstreaming of\nIndian culture and absorption of Indian cuisine, cinema, languages, religion,\nphilosophy, performing arts, etc. Now, Yoga is giving more impetus to the\nrelationship.<\/li><li><strong>Defence:<\/strong> India\u2019s\nmultifaceted bilateral relationship with the UK intensified with its\nupgradation to a Strategic Partnership in 2004. the two countries agreed to\nelevate their Defence relationship by establishing capability partnerships in\nstrategic areas. The institutionalised dialogue to discuss defence cooperation\nviz. Defence Consultative Group Meeting, is held annually. At all the three\nservices level, joint exercises and wide-ranging exchanges between the three\nservices are conducted regularly.<\/li><\/ul>\n\n\n\n<p><strong>Areas\nof Concern:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>One\nof the most significant issues in the UK-India FTA negotiations is labour\nmobility. India has been asking for an ease in visa rules but the UK has been\nhardening its stance on the issue. The recent exclusion of India by the UK Home\nOffice from a new list of low-risk countries with relaxed student visa rules is\na case in point.<\/li><li>In\npost-BREXIT scenario, there would be many adverse\nimpacts on the Indian economy in general and Indian businesses in the UK in\nparticular. The UK serves as an entry point for many Indian companies to the\nEuropean market. A disorderly British exit would shut the direct access of\nthese companies to the EU market. That may force some of the companies to\nrelocate or shut down their businesses.&nbsp;<\/li><\/ul>\n\n\n\n<p><strong>Future\nProspects of strengthening India-UK relation:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Trade deal:<\/strong> India sees the British exit as an opportunity to\nexpand its trade and economic relations with the UK. A report by the\nCommonwealth noted that \u201cgiven the slow pace of negotiations over a trade deal\nwith the EU, Brexit provides a fresh opportunity to India to strengthen its\neconomic relationship with the UK through an India\u2013UK trade and investment\nagreement.\u201d<\/li><li><strong>Business\nopportunities: <\/strong>Scaling up of startups in India was also identified\nas a potential area of collaboration. India\u2019s incredible jump of 30 ranks in\nthe Ease of Doing Business parameter has been lauded by the UK which itself\nranks amongst the top 7 countries globally on the ease of doing business\nparameters. Therefore, identification of the right kinds of regulations that\ncan be adopted from the UK for improving the business environment in India, will\nbe an important area of collaboration between the two countries. UK companies have shown a\nkeen interest in investing in Indian automotive clusters and in augmenting its\ndesign capabilities.<\/li><li><strong>Green\nGrowth Equity Fund (GGEF):<\/strong>&nbsp;The\nUK and India launched the fund that will leverage City finance to invest in\nIndia\u2019s growth. An initial investment of \u00a3240m from both governments will\ncatalyse additional City finance for green projects in India and UK companies\nwill be able to bid for infrastructure projects financed by the Fund. The Fund\nwill invest in renewable energy, clean transportation, water and waste\nmanagement in India as part of India\u2019s flagship National Investment and\nInfrastructure Fund (NIIF). UK and India contributions are investments that\nwill generate returns for each country.<\/li><li><strong>International\nSolar Alliance:<\/strong>&nbsp;The\nUK signed the Framework Agreement of the International Solar Alliance and\nbecame the 62nd signatory member country. The UK also expressed its commitment\nto the continued advocacy of ISAs aims and objectives.<\/li><li><strong>Research\nand Development:<\/strong>&nbsp;The\nUK and India will continue their world-leading research relationship,\ngenerating new knowledge and innovations that feed the world\u2019s hungry (high\nyield crops), protect our environment (clean energy), save lives (advanced\nhealthcare) and drive economic inclusion (digital services)<\/li><\/ul>\n\n\n\n<p><strong>Way\nForward:<\/strong><\/p>\n\n\n\n<p>The UK\u2013India\nBusiness Council have said in 2016 that, \u2018Brexit will make the&nbsp;UK\u2019s\nrelationship with India even more important\u2019. With global challenges affecting\nIndia very uniquely, it is opportunity for India to partner with UK, focusing\non tackling universal issues like climate\nchange, renewable energy, cyber threats and antimicrobial resistance. With the\nUK\u2019s bid to host the next UN Climate Conference COP26, our legal commitment to\nnet-zero emissions by 2050, and our membership of the International Solar\nAlliance, the UK and India are particularly well placed to join forces on\npromoting sustainable energy, and building resilient, smart cities.<\/p>\n\n\n\n<p>Source: <a href=\"https:\/\/indianexpress.com\/article\/opinion\/columns\/icc-cricket-world-cup-2019-england-uk-india-ties-wales-sea-of-blue-fans-stadium-5822933\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">https:\/\/indianexpress.com\/article\/opinion\/columns\/icc-cricket-world-cup-2019-england-uk-india-ties-wales-sea-of-blue-fans-stadium-5822933\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Read&nbsp;In-depth analysis of all the Editorials here Context: India \u2013 UK relationship and its future prospects. More in news: London Tech week (10th \u2013 14th June 2019) is a series of events celebrating India-UK relationship. Next week, there is annual meeting of Joint Economic and Trade Committee (JETCO). Relationship between India and UK in recent&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/7-pm-bowled-over-by-a-sea-of-blue-10th-july-2019\/\">Continue reading <span class=\"screen-reader-text\">7 PM | Bowled over by a sea of blue | 10th July, 2019<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":3567,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[130],"tags":[],"class_list":["post-49242","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-7-pm","entry"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2017\/07\/brief-image.jpg?fit=1000%2C500&ssl=1","views":{"total":0,"cached_at":"","cached_date":1704905304},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/49242","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=49242"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/49242\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media\/3567"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=49242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=49242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=49242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}