London, January 20: British Parliamentarian Lord Karan Bilimoria on January 19 referred to Prime Minister Narendra Modi as "one of the most powerful persons on the planet", while underscoring the importance of the UK's ties with the fastest-growing major economy in the world.

"To conclude, as a boy, Narendra Modi sold tea at his father's tea stall at a railway station in Gujarat. Today he is one of the most powerful people on this planet as Prime Minister of India," UK MP Lord Karan Bilimoria said during a Parliament debate. Rishi Sunak Defends PM Narendra Modi in UK Parliament; Snubs Pakistan-Origin MP Over BBC Documentary.

"Today India has the presidency of the G20. Today India has the vision to become, in the next 25 years, the second-largest economy in the world with a GDP of USD 32 billion. The Indian Express has left the station. It is now the fastest train in the world--the fastest-growing major economy in the world.

The UK must be its closest and most trusted friend and partner in the decades ahead," During the debate on 'The Importance of the Relationship Between the United Kingdom and India', Lord Bilimoria said India has now overtaken the UK and is the fifth largest economy in the world and is also the fastest-growing large economy in the world, with 1.4 billion people.

"With 75 years of democracy, it is a young country. It had a growth rate of 8.7 per cent in the last financial year, and it has contributed one in 10 unicorn companies, with over 100 unicorns. It is also the fourth largest producer of renewable energy and solar power," he added.

In every aspect, Lord Bilimoria noted, India is going from strength to strength, including during the pandemic when it produced billions of vaccines, with the Serum Institute of India partnering with Oxford University and AstraZeneca.

On the trade front, the UK lawmaker said the UK-India free trade agreement is well-advanced. "Although our trade at the moment is worth £29.6 billion, India is only the 12th largest trading partner of the UK. That is not enough; it should be so much higher," he added.

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