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 >
US VP Harris heads to Wisconsin to sell 'Bidenomics'
US VP Harris heads to Wisconsin to sell 'Bidenomics'
Mar 6, 2024
WASHINGTON (Reuters) - U.S. Vice President Kamala Harris travels to Wisconsin on Wednesday to trumpet White House economic policies as she and President Joe Biden struggle to convince voters to give them more credit for U.S. economic strength. Harris will make a stop in Madison, a college town filled with young voters critical to Biden and Harris's re-election efforts, to...
Analysis-Discontent over immigration and the economy fuel Trump's Super Tuesday romp
Analysis-Discontent over immigration and the economy fuel Trump's Super Tuesday romp
Mar 6, 2024
WASHINGTON (Reuters) - Donald Trump is sailing into battle against President Joe Biden powered by anger over the two policy issues that have driven his comeback campaign so far: immigration and the economy. Trump came close to sweeping the board in the 16 Super Tuesday Republican primary races, putting him on the verge of clinching the party's nomination and allowing...
COLUMN-U.S. manufacturers struggle to grow again without interest rate cuts: Kemp
COLUMN-U.S. manufacturers struggle to grow again without interest rate cuts: Kemp
Mar 5, 2024
LONDON, March 5 (Reuters) - U.S. manufacturers are struggling to regain momentum as the sector tries to pull out of the prolonged but shallow downturn, with any help from lower interest rates delayed due to continuing inflation in the service sector. The desultory state of factory and freight activity has limited diesel consumption, postponed the anticipated depletion of fuel inventories,...
Fed's Powell to set election year stage with testimony on rate cuts, inflation
Fed's Powell to set election year stage with testimony on rate cuts, inflation
Mar 5, 2024
WASHINGTON (Reuters) - With asset values from stocks to crypto to homes piling higher, inflation still considered too high, and worries of exuberance creeping into the conversation, Federal Reserve Chair Jerome Powell on Wednesday will update U.S. lawmakers on the economy and prospects for interest rate cuts in a politically charged election year. The landscape he'll lay out is in...
Copyright 2023-2025 - www.financetom.com All Rights Reserved