British Prime Minister Theresa May and her Indian counterpart Narendra Modi at the India-UK Tech Summit in New Delhi on 7 Nove 2016 [Image: MEA, India]
British Prime Minister Theresa May has reached India for a three-day visit alongwith International Trade Secretary Liam Fox and Trade Minister Greg Hands.
On Sunday, May said her visit to India, UK’s “most important friend” will reaffirm the importance of the bilateral strategic partnership.
She will hold talks with her Indian counterpart Narendra Modi on a wide array of topics, including the possibility of a trade deal that can only be eked out after Britain formally quits the European Union.
On Monday morning, May and Modi attended the India-UK Tech Summit and met the India-UK CEOs Forum in New Delhi.
“We are two countries with strong ties, a mature relationship and an opportunity to make that even deeper. That is why, today I will be travelling to India for my first bilateral visit outside Europe and first trade mission as Prime Minister, accompanied by a range of top British businesses, including some of our brightest small and medium enterprises,” May wrote in the Sunday Telegraph.
Manufacturing joint projects in rail and technology are expected to be announced during the British Prime Minister’s trip.
“We expect Make in India to be an important aspect of the India-UK bilateral relationship,” Indian Prime Minister Modi has said.
The BBC reported on Monday that Theresa May has rejected calls to relax Indian visa rules saying the UK already has a “good system” for applications.
The British Prime Minister, however, said the her government plans to set up a fast-track visa service for “high net-worth” Indians and their families and promised quicker border checks for all business travellers from India.
The number of study visas issued to Indian nationals fell from 68238 in the year to June 2010 to 11864 in 2015.
Earlier this week, May’s government announced a further tightening of immigration rules, including the raising of salary thresholds for those on an intra-company transfer visa.
Despite tensions over visa restrictions, investment ties between the two countries remain robust.
“Over 800 Indian businesses are already invested in Britain, making India the second-largest creator of jobs here and the third largest inward investor,” May said.
Iconin British brands such as Typhoo and Tetley (tea labels) Jaguar Land Rover, the carmaker, and fashion retailer East are all owned by Indian groups.
While 9-year long talks over an India-EU trade deal have not yet seen any breakthrough, the Brexit vote could allow Britain to eke out its own independent trade agreement with one of the world’s fastest growing economies.
TBP and Agencies