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UK PM visit: Theresa May pitches for Indo-UK free trade, greater investment

The Prime Minister of United Kingdom Theresa May on Monday pitched for free trade and greater investment from India in UK.


UK PM visit: Theresa May pitches for Indo-UK free trade, greater investment

Zee Media Bureau

New Delhi: The Prime Minister of United Kingdom Theresa May on Monday pitched for free trade and greater investment from India in UK.

“"We want Britain to be the most committed and passionate advocate of free trade in the world," May told an India-UK Tech Summit in New Delhi.

Theresa May is on her first bilateral visit outside Europe after become the Prime Minister of UK.

Prime Minister Narendra Modi while inaugurating the Tech summit welcomed Theresa May and valued the partnership India has shared with UK in the field of science and technology and said together the two countries can leverage from each other's scientific strength.

“I am confident together we can leverage our scientific strengths to create new opportunities”, said PM Modi.

PM Modi also called for greater trade partnership with the United Kingdom. “The quantum of bilateral trade has remained the same over 5 years. India is the third largest investor in UK. UK is the largest G20 investor in India, said Modi.

PM Modi also underscored the importance of 'make in India in India-UK cooperation, and added that UK can benefit from India's liberal FDI policy in areas like defence, manufacturing and aerospace.

Prime minister May added that Britain is working on economic and social reforms and would like to become a global standard bearer of free trade. Indian investment is helping the UK diversifying her economy, more investment and fewer barriers to trade between Britain and India would boost prosperity, PM May added.

British Prime Minister Theresa May said on Monday it was vital to identify ways to deepen the trade relationship with India before the United Kingdom leaves the European Union.

In a speech to a tech summit in New Delhi before talks with Indian Prime Minister Narendra Modi, May said Britain would offer expedited clearance at the UK borders under a Registered Traveler Scheme to business travelers from India.

With agencies input

From Zee News

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