London's Deputy Mayor for Business Rajesh Agarwal on Monday, spoke about the immense opportunities for collaboration between the UK and India as progress continues on the much-awaited Indo-UK free trade agreement (FTA).

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Speaking to CNBC-TV18, Agarwal highlighted fintech and renewable energy as two key areas of interest for London companies seeking to expand into India, citing India's leadership in tackling the climate challenge as well as its rapidly-growing tech ecosystem.

Agarwal pointed out that climate technology is an evident area in which India is making significant advancements and taking the lead on several projects to address the climate problem, just as London and the UK are doing.

"India is doing a huge amount on climate technology and is leading the charge on some of the initiatives around tackling the climate challenge as is London and the UK."

However, according to Agarwal, the true deal is in the technology. He noted that the third-largest tech ecosystem in the world is located in London, where it is very quickly expanding. However, India is also a significant centre for technology, with a lot of activity happening around start ups, scale ups companies.

"But tech is the real price. There's very fast growing tech ecosystem in London, and is the third largest tech ecosystem in the world. And India is a huge Center for Technology, a lot of activity happening around start ups, scale ups companies."

Watch video for full interview.

First Published:Mar 20, 2023 11:26 PM IST