Business News | CII Leads High-level Business Delegation to UK to Strengthen Economic Ties
Get latest articles and stories on Business at LatestLY. The Confederation of Indian Industry (CII) is leading a senior industry delegation to the United Kingdom (UK) on December 18, 2024, to engage with key stakeholders and strengthen bilateral economic ties, the CII said in a release.
New Delhi [India], December 17 (ANI): The Confederation of Indian Industry (CII) is leading a senior industry delegation to the United Kingdom (UK) on December 18, 2024, to engage with key stakeholders and strengthen bilateral economic ties, the CII said in a release.
The delegation is being led by Sunil Bharti Mittal, Past President, CII and Founder and Chairman, Bharti Enterprises, alongside other prominent senior business leaders from India.
The visit underscores the longstanding economic relationship between India and the UK, which continues to thrive with total bilateral trade reaching £39 billion in 2023, marking a 4.8 per cent increase from the previous year.
During the visit, the CII delegation will meet with The Rt Hon Sir Keir Starmer KCB KC MP, Hon'ble Prime Minister of the United Kingdom. Important high-level engagements are also scheduled with Sir Clive Alderton, Private Secretary to HRH King Charles III; The Rt Hon Jonathan Reynolds MP, Secretary of State for Business and Trade; The Rt Hon Douglas Alexander MP, Minister of State for Trade Policy; The Rt Hon Rachel Reeves MP, UK Chancellor of the Exchequer; The Rt Hon David Lammy MP, Secretary of State for Foreign, Commonwealth and Development Affairs; The Rt Hon Ed Miliband MP, Secretary of State, Department for Energy Security and Net Zero; Mr Matt Collins, Deputy National Security Adviser, besides others.
Discussions will focus on reviving negotiations for the India-UK Free Trade Agreement (FTA), resolving taxation and ease of doing business issues, and exploring collaboration in key sectors like energy and climate, pharmaceuticals, technology, AI, security, skilling, and academia linkages.
Highlighting the importance of the visit, Chandrajit Banerjee, Director General, CII, said, "India-UK ties are set to strengthen further, fostering mutual business growth and unlocking new opportunities for innovation and investments. For over 42 years, CII through its London office has been the voice of Indian businesses in the UK, spearheading the UK India Business Forum alongside India-headquartered companies.
We have established key MoUs with UK regions, academic institutions, and industry bodies while maintaining close collaboration with diplomatic networks on both sides. We are thrilled to lead this business delegation to the UK, an annual initiative to enhance collaboration between Indian and UK companies.
Going forward our focus will be on skill development, technology and renewable energy sectors, among others. We look forward to the guidance of The Rt Hon Sir Keir Starmer KCB KC MP, Hon'ble Prime Minister of the UK to make the collaborations stronger in the near future."
Sunil Bharti Mittal, KBE, Leader of the Delegation and Past President, CII, added, "This business delegation comes at a pivotal moment, as India stands as the fastest-growing major economy and is on track to become a USD 5 trillion economy by 2027."
Mittal said that the India-UK free trade agreement negotiations, initiated under the ambitious "Roadmap 2030" by the Prime Ministers of both nations, present significant opportunities for mutual growth and collaboration.
Over time, India-UK relations have developed into a robust, multifaceted partnership built on historical ties, economic synergy, and increasing geopolitical alignment, he said.
"We are optimistic that this delegation will pave the way for numerous successful business collaborations," he added.
We shall seek guidance from The Keir Starmer KCB KC MP, Prime Minister of UK on the sectors that may exhibit better collaboration opportunities."
The delegation seeks to advance discussions that will pave the way for greater bilateral investments, enhanced trade partnerships and strengthened ties in areas of shared interest. CII's continued efforts in fostering economic collaboration are aimed at realizing the full potential of the India-UK relationship and driving sustainable growth for both economies.(ANI)
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