LONDON: There is hope that the proposed India-UK free trade agreement is not far off the horizon as it will provide immense opportunity to leverage within the bilateral partnership, said the new President of the Business Council, who has played a key role in shaping the ongoing talks. Has played.
UK-based tech professional Priya Guha, Venture Partner at Merion Ventures who invests in women-led innovation, takes over from Baroness Ush Parashar as Chair of the Federation o Indian Chambers of Commerce and Industry (FICCI) UK Council . The ceremony took place at the Indian High Commission in London on Monday evening.
The India-UK Free Trade Agreement (FTA) negotiations, which began in January 2022, aim to significantly increase bilateral trade – currently valued at approximately GBP 38.1 billion per annum.
The talks are now in their fourteenth round of talks and are likely to gain momentum after the Indian general elections.Guha, a British Indian investor, expressed hope that the Bilatera partnership will continue to flourish as she looks to build on the foundation laid by Parashar, who was the first person to take up the role at FICCI UK four years ago.
“I think about it in terms of the role of research and innovation in the creative industries, trade partnerships and the opportunities that will be taken advantage of when we are able to implement the FTA, which we all hope will not take away “Kshitij,” Guha said.
“The reality is that these things only happen because we have been able to work in partnership with so many people as we enter this new phase of the India-UK Industry Advisory Group.
“One role of business is to make a tangible contribution to the economic development of both sides and clearly, that is our contribution to the India-UK relationship.But really, the role of business is much greater – opening our eyes to other things, creating cultural connections, strengthening relationships, deepening a very strong bond and taking it to a new stage of its potential,'' he said. .
The event at India House in London was organized to honor Parashar for his consistent work over the years in promoting India-UK trade and cultural ties, including the FTA Memorandum on Non-Tariff Barriers included in the policy framework.
In his farewell speech Parashar said, "We managed to set up a very dynamic and energetic council and setting it up was a masterstroke." He linked the origins of FICCI to Mahatma Gandhi's vision of the ethics of "business with purpose".
He said, “As we look towards an FTA, a lot has to be done to make it effective.The devil is always in the details and to make things work, FICCI will play a very important role whenever an FTA happens."
Indian High Commissioner to Britain, Vikram Doraiswami, paid tribute to the House of Lords member as America's first Indian-origin Judicial Commissioner and someone who has been "part of the basic fabric" of Britain.
“If we have been successful in moving things forward in the bilateral relationship over the last several months, much of the credit, which was never asked for and never given, I think goes to Baroness Parashar. " Doraiswami said.
“Whenever the Free Trade Agreement is signed, FICCI will continue to help take advantage of all the possibilities that are open as there is a huge opportunity for a visionary India-UK relationship that is based on at least three key pillars of research and Innovation, education and capacity building, and business opportunities,” he said.
UK-based tech professional Priya Guha, Venture Partner at Merion Ventures who invests in women-led innovation, takes over from Baroness Ush Parashar as Chair of the Federation o Indian Chambers of Commerce and Industry (FICCI) UK Council . The ceremony took place at the Indian High Commission in London on Monday evening.
The India-UK Free Trade Agreement (FTA) negotiations, which began in January 2022, aim to significantly increase bilateral trade – currently valued at approximately GBP 38.1 billion per annum.
The talks are now in their fourteenth round of talks and are likely to gain momentum after the Indian general elections.Guha, a British Indian investor, expressed hope that the Bilatera partnership will continue to flourish as she looks to build on the foundation laid by Parashar, who was the first person to take up the role at FICCI UK four years ago.
“I think about it in terms of the role of research and innovation in the creative industries, trade partnerships and the opportunities that will be taken advantage of when we are able to implement the FTA, which we all hope will not take away “Kshitij,” Guha said.
“The reality is that these things only happen because we have been able to work in partnership with so many people as we enter this new phase of the India-UK Industry Advisory Group.
“One role of business is to make a tangible contribution to the economic development of both sides and clearly, that is our contribution to the India-UK relationship.But really, the role of business is much greater – opening our eyes to other things, creating cultural connections, strengthening relationships, deepening a very strong bond and taking it to a new stage of its potential,'' he said. .
The event at India House in London was organized to honor Parashar for his consistent work over the years in promoting India-UK trade and cultural ties, including the FTA Memorandum on Non-Tariff Barriers included in the policy framework.
In his farewell speech Parashar said, "We managed to set up a very dynamic and energetic council and setting it up was a masterstroke." He linked the origins of FICCI to Mahatma Gandhi's vision of the ethics of "business with purpose".
He said, “As we look towards an FTA, a lot has to be done to make it effective.The devil is always in the details and to make things work, FICCI will play a very important role whenever an FTA happens."
Indian High Commissioner to Britain, Vikram Doraiswami, paid tribute to the House of Lords member as America's first Indian-origin Judicial Commissioner and someone who has been "part of the basic fabric" of Britain.
“If we have been successful in moving things forward in the bilateral relationship over the last several months, much of the credit, which was never asked for and never given, I think goes to Baroness Parashar. " Doraiswami said.
“Whenever the Free Trade Agreement is signed, FICCI will continue to help take advantage of all the possibilities that are open as there is a huge opportunity for a visionary India-UK relationship that is based on at least three key pillars of research and Innovation, education and capacity building, and business opportunities,” he said.
