By Chathushka Perera
London, UK (CWBN)_ A trade worth GBP 100 billion is expected to be struck between India and the United Kingdom, next year, sending clear tidings of a more than likely no-deal Brexit with just days left in the negotiation process with former-EU partners.
British Foreign Secretary Dominic Raab concluded his three day visit to India in an effort garner the 10-year “road map” in full view of the controversial expansion of Chinese influence and interest, and the economic implication of a no-deal Brexit.
It has been announced that PM Boris Johnson has accepted the invitation to attend India’s Republic Day celebration in January, as the chief guest, in a likely bid to finalize the deal.
Founding partner of JPIN, one of Asia’s top five investment incubators, told the Express (UK) that “India and UK have been working to improve trade and it can really allow the UK to benefit from the immense growth India is about to experience in the coming decade.”
“Business, economy and consumer experience will definitely improve – Samsung’s recent decision to move its manufacturing to India is a testament on high quality and cost effectiveness in the country,” he added.
Singh also claimed that as of now the UK-India trade deal is worth about GBP 24 billion, and supports nearly 500,000 jobs in both countries, however, it may be developed exponentially. He added that a broader deal may exceed the GBP 200 billion landmark set by International Trade Secretary, Liz Truss, in her previous engagements.
With respect to China, the UK has been at loggerhead with the authoritarian state since its decision to ban Huawei 5G networks in the country due to security concerns, particularly given that the Huawei has been largely linked to the Chinese Communist Party, and again following China’s decision to takeover the semi-independent region of Hong Kong, and more importantly it follows the standoff between China and India in Ladakh, earlier this year.
