Lord Dominic Johnson, the United Kingdom’s Minister of Investment, has expressed his optimism about India’s economic growth potential. Speaking at the inauguration of the new British Trade Office in Pune, Lord Johnson said that India is on the verge of the most extraordinary decade of any country in history in economic terms. He believes that there is a huge opportunity for financial services in the UK to act as a capital funnel into India, as the country will need a lot of liquidity to achieve its growth potential.
According to Lord Johnson, London and other financial services across the UK can act as a significant funnel for international capital to be funnelled from the rest of the world into India. This would provide the country with the capital it needs to achieve its economic goals. Lord Johnson’s visit to India will help build momentum for the ongoing trade agreement negotiations between the two countries. India remains a priority market for the UK, and the minister’s visit will help strengthen ties between the two countries.
Lord Johnson met with business leaders in Maharashtra’s second-largest city, including potential and existing UK investors, such as Serum Institute of India, Bharat Forge, and Zensar. He spoke about the need for investment in the UK, emphasizing that the country is determined to be the undisputed number one investment destination in Europe. Lord Johnson’s visit highlights the UK’s commitment to strengthening its relationship with India, which is the second-largest investor in the UK in terms of the number of projects.
The British Trade Office has been in Pune for several years, liaising with the city’s multiple business and innovation hubs. It has delivered a high return on trade and investment wins in the manufacturing, future mobility, and technology spaces. The BTO remains the point agency for all UK-India business interests, providing a bridge for people, ideas, institutions, arts, and culture.
In conclusion, Lord Johnson’s visit to India highlights the UK’s commitment to strengthening its ties with India. With India’s enormous potential for economic growth, the UK’s financial services sector can play a key role in providing the capital that the country needs to achieve its goals. The ongoing trade agreement negotiations between the two countries will help build momentum for increased trade and investment between the UK and India.