Trade between India and the UK is expected to double by 2030 from current levels: Grant Thornton-CII report

12 Aug 2022 , 10:45 AM

UK accounts for 5.4% of the total FDI into India, with a cumulative investment of USD 31.92 billion over 2000-22. As India and the UK collaborate for economic growth against a backdrop of global disruptions, Grant Thornton Bharat launches the second edition of Britain Meets India (BMI) Report 2022, in partnership with the Confederation of Indian Industry (CII), supported by the UKs Department of International Trade (DIT). Through primary research, the report identifies 618 UK companies in India and how they are growing and contributing to the economy and job creation. Speaking at the event, HE Alexander Ellis CMG British High Commissioner to the Republic of India said ?India has been one of the UKs most important partners in the journey of 75 years. The living bridge between our countries is set to transform into a stronger bond as we continue to fight the pandemic together and address the challenges to our security in both the physical and digital worlds. Our shared focus will be on strengthening the economic relationship between the two nations for a more secure and prosperous decade ahead.? ?The report has highlighted several new emerging sectors and I hope we will derive qualitative outcomes that nurture opportunities for companies in India and the UK. We continue to work closely with the governments and businesses on both sides and leverage the strengths of UK companies to deepen our trade relationship,? said Director General Chandrajit Banerjee, Confederation of Indian Industry.?Trade between India and the UK is expected to double by 2030 from current levels – based on dynamic connections between people of both countries, investment in technology, diversification of global supply chains and overall ease of doing business.? said Vishesh C. Chandiok, CEO, Grant Thornton Bharat. Powered by Capital Market – Live News