financetom
Economy
financetom
/
Economy
/
UK PM Boris Johnson expected to visit India towards month end
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
UK PM Boris Johnson expected to visit India towards month end
Apr 5, 2022 12:45 AM

British Prime Minister Boris Johnson is planning a visit to India towards the end of this month with a focus on strengthening bilateral ties against the backdrop of the ongoing India-UK Free Trade Agreement negotiations, according to official sources.

The visit, which is expected around April 22, is long overdue after Johnson was forced to cancel planned visits to India twice last year due to the COVID-19 pandemic.

While Downing Street is yet to confirm any details, an in-person meeting was discussed during a phone call between Johnson and Prime Minister Narendra Modi last month.

The leaders welcomed India and the UK's strong and prosperous relationship, and agreed to continue to build on trade, security and business ties in the coming weeks and months. They looked forward to meeting in-person at the earliest opportunity, a Downing Street spokesperson said in a readout of the call on March 22.

Last week, Downing Street sources told PTI that Johnson was very keen to visit India for talks with his Indian counterpart Modi, though firm plans are yet to be fully drawn up.

The two leaders last met in-person on the sidelines of the COP26 Climate Summit in Glasgow in November last year, when their bilateral talks during the World Leaders' Summit focused on the India-UK climate partnership as well as a review of the 2030 Roadmap which they had signed during a virtual summit in May 2021.

The Roadmap, which aims to at least double bilateral trade between India and the UK by 2030, is part of Britain's so-called Indo-Pacific foreign policy tilt.

A trade deal with India's booming economy offers huge benefits for British businesses, workers and consumers, Johnson said at the formal launch of Free Trade Agreement (FTA) talks earlier this year.

The UK has world-class businesses and expertise we can rightly be proud of, from Scotch whisky distillers to financial services and cutting-edge renewable technology.

"We are seizing the opportunities offered in growing economies of the Indo-Pacific to cement our place on the global stage and deliver jobs and growth at home," he said in January.

The conflict in Ukraine and the UK's leading role in imposing stringent sanctions against Russian President Vladimir Putin's regime is also likely to feature strongly during talks between Johnson and Modi.

It will follow UK Foreign Secretary Liz Truss' visit to Delhi last week, when she held talks with External Affairs Minister S Jaishankar and also joined him at the first India-UK Strategic Futures Forum.

On Ukraine, India reiterated that the immediate cessation of violence and return to dialogue and diplomacy is the key to long term peace in the region, the Ministry of External Affairs (MEA) said with reference to the ministerial talks.

Both sides appreciated the substantial progress made in the India-UK FTA negotiations with two productive rounds already completed since their launch in January 2022, it noted.

The third round of India-UK FTA talks, scheduled to be hosted by India later this month, is likely to be timed around the prime ministerial visit.

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 >
Chile's Lithium Vision: Ambitious Plans Shine While US Market Tries To Overcome Fragmentation
Chile's Lithium Vision: Ambitious Plans Shine While US Market Tries To Overcome Fragmentation
Mar 29, 2024
The Chilean government has unveiled an ambitious plan to double its lithium output over the next decade. The motivation behind this push lies in the nation’s recognition of the potential risks posed by lithium shortages, which could lead to significant economic repercussions for the second-largest producer of this metal critical for clean energy transition. Production needs to increase so that...
US Dollar Rises Early Friday Ahead of Personal Income, PCE Prices, Advance Trade, Powell
US Dollar Rises Early Friday Ahead of Personal Income, PCE Prices, Advance Trade, Powell
Mar 29, 2024
07:35 AM EDT, 03/29/2024 (MT Newswires) -- The US dollar rose against its major trading partners early Friday, except for a decline versus the yen, ahead of the release of personal income, spending, and price data and advance trade and inventory data, all for February, at 8:30 am ET, with most US markets closed for Good Friday. Chicago PMI and...
Fed's balancing act could see June rate cut in play even with sticky inflation
Fed's balancing act could see June rate cut in play even with sticky inflation
Mar 29, 2024
WASHINGTON (Reuters) - Federal Reserve Chair Jerome Powell says the central bank is not growing more tolerant of higher inflation even though the latest policymaker projections raised the inflation outlook for the year without triggering a tougher monetary-policy response. But former Fed officials and other analysts see Powell nevertheless approaching a difficult moment trying to reconcile competing economic risks, a...
Inflation Ticks Higher In February: Is A May Interest Rate Cut In The Cards?
Inflation Ticks Higher In February: Is A May Interest Rate Cut In The Cards?
Mar 29, 2024
Personal consumption expenditures, the Federal Reserve’s preferred measure of inflation, rose as economists expected in February, leaving markets frustrated as to the likely timing of interest rate cuts. Key highlights from February’s Personal Consumption Expenditures inflation report: The headline personal consumption expenditures price index rose by an annual rate of 2.5%, up from January’s 2.4% and in line with expectations....
Copyright 2023-2026 - www.financetom.com All Rights Reserved