Lord Mayor of London Champions Free Trade During Indian Visit
February 14, London (PTI) – The Lord Mayor of London is set to embark on a significant week-long journey to India starting this Saturday, aiming to promote the benefits of free trade and enhanced capital exchange.
Alderman Alastair King, now serving as the 696th Lord Mayor and representing London’s financial sector globally, will be addressing various stakeholders in Mumbai with a focus on his initiative dubbed “Growth Unleashed.”
Engagements with Key Financial Entities
The Lord Mayor has lined up meetings with representatives from UK governmental trade bodies as well as major Indian financial institutions like HDFC, State Bank of India (SBI), Reserve Bank of India (RBI), and Securities and Exchange Board of India (SEBI).
“The essence behind the theme ‘Growth Unleashed’ is to inspire British enterprises to explore exceptional growth markets such as India—knocking on doors and expanding their ventures,” Alderman King explained ahead of his visit.
Timing for Renewed Trade Talks
This visit coincides with an anticipated trip by UK Business and Trade Secretary Jonathan Reynolds later this month aimed at revitalizing discussions regarding the stalled UK-India Free Trade Agreement (FTA), which faced delays due to last year’s electoral processes in both nations.
Alderman King expressed optimism about current developments. “The timing seems ideal. Following some stagnation in advancing the Free Trade Agreement, I am excited that Minister Reynolds is also heading to India soon,” he remarked. “We can utilize this opportunity to outline how sectors such as finance, professional services, legal consultancy, and maritime commerce stand poised for growth once we move forward with the FTA.”
The Growing Significance of Indo-UK Relations
The significance of london-chamber-of-commerce/” title=”Exploring Opportunities to Revitalize Trade Relations: GCCI Meets with London Chamber of Commerce”>bilateral trade between India and the United Kingdom cannot be understated; it’s valued at approximately £41 billion annually. Against a backdrop laden with international tariffs and trade disputes—particularly involving the US—the need for strengthening this relationship becomes even more critical.
Encouraging Capital Flows Between Regions
“Any initiatives taken that facilitate smoother capital flows between our countries could unlock remarkable opportunities,” he continued.
The City Corporation aims to entice more Indian businesses toward investments in the UK market by leveraging its leading global financial capabilities.
“Many Indians regard London as their second home; I perceive an ongoing expansion in our relationship,” shared Alderman King who previously established business operations focused on infrastructure within Mumbai’s burgeoning economy: “Our venture specialized primarily around container logistics—a narrative reflecting India’s integration into global commerce over decades ahead.”
A Focused Agenda on Financial Growth Strategies
Diving back into conversations within Mumbai’s finance sector provides an opportunity for deliberating strategies critical for favorable economic conditions amidst evolving landscapes concerning investment safeguards while promoting business mobility ” noted Alderman King.
“With around 678,000 professionals operating out within London’s Square Mile—our position remains firm among International Financial Centers due largely because we offer exceptional talent pools.” As such attracting proficient individuals remains paramount mid-whirlwind competition emphasizing India’s bright prospects too,” concluded King.
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