financetom
Economy
financetom
/
Economy
/
British PM Boris Johnson signals visa flexibility with India to win trade deal
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
British PM Boris Johnson signals visa flexibility with India to win trade deal
Apr 21, 2022 12:42 AM

British Prime Minister Boris Johnson indicated he was ready to offer more visas to India in return for this year clinching a free-trade deal that could boost annual bilateral trade by billions of pounds.

Speaking on the plane on his way to the world's second-most populous country, Johnson signalled he was ready to be more accommodating on an issue that could have stalled the talks.

"I have always been in favour of talented people coming to this country," Johnson told reporters. "We are short to the tune of hundreds of thousands of people in our economy and we need to have a progressive approach and we will."

Britain has made getting a trade deal with India one of its post-Brexit priorities as ministers, free from the European Union's common trade policy, look to gear policy towards faster-growing economies around the Indo-Pacific region.

Also Read | London Eye: Boris Johnson turns up looking over his shoulder

India wants greater opportunities for Indians to live and work in Britain. Any trade deal will likely be contingent on relaxing rules and lowering of fees for Indian students and professionals going to the country. India and former colonial power Britain already share strong trade ties, and more than a million people of Indian origin live in Britain after decades of migration.

Britain wants to tap into the wealth of India's middle classes and their appetite for premium British products such as Scotch whisky. They also hope that India can become a customer of its green technology and that service trade can also be strengthened. Britain has said the trade deal could almost double British exports to India, and by 2035 boost total trade by 28 billion pounds ($38 billion) per year. Total trade in 2019 was worth 23 billion pounds, according to British statistics.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
India looking into 'freak' incidents like damage to Sikkim's Chungthang dam: RK Singh
India looking into 'freak' incidents like damage to Sikkim's Chungthang dam: RK Singh
Oct 18, 2023
Stressing on the need to have quick ramp up and ramp down energy sources for grid balancing, the minister described hydroelectric power's role as essential in the path to energy transition as wind energy is intermittent and the sun doesn't shine 24×7.
In fight to curb climate change, a grim report shows world is struggling to get on track
In fight to curb climate change, a grim report shows world is struggling to get on track
Nov 14, 2023
The State of Climate Action report released on Tuesday by the World Resources Institute, Climate Action Tracker, the Bezos Earth Fund and others looks at what's needed in several sectors of the global economy power, transportation, buildings, industry, finance and forestry to fit in a world that limits warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit) over pre-industrial times, the goal the world adopted at Paris in 2015. The globe has already warmed about 1.2 degrees Celsius (2.2 degrees Fahrenheit) since the mid-19th century.
Zoomed Out | Critical Minerals — why India's current strategy to become self-reliant is so vital
Zoomed Out | Critical Minerals — why India's current strategy to become self-reliant is so vital
Nov 29, 2023
Internationally, there are genuine security concerns related to the criticality in building more diverse and dependable value chains for critical minerals, about their environmental and social sustainability, and technological challenges. While, India has taken the right steps for creating an ecosystem for accelerated exploration and production of critical and new age minerals, observes FICCI Mining Committee Co-Chair Pankaj Satija.
JPMorgan has a new way to gauge its green progress
JPMorgan has a new way to gauge its green progress
Nov 15, 2023
As the largest energy banker, JPMorgan is a frequent target of criticism over Wall Street’s role in the climate crisis. At the same time, the bank is a leading US arranger of green bonds, making it vulnerable to Republicans seeking to protect the fossil fuel industry.
Copyright 2023-2026 - www.financetom.com All Rights Reserved