01-01-1970 12:00 AM | Source: Accord Fintech
UK-India trade has potential to double business by 2030: British Deputy High Commissioner
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In spite of the impact of Russia's war with Ukraine, British Deputy High Commissioner in charge of Kerala and Karnataka Chandru Iyer said the UK and India are heading towards an era of positive engagement in trade and business relations, with steps underway to promote mutual investments in both the nations. Iyer who is also UK's Deputy Trade Commissioner for South Asia said there was potential to double the business by 2030. Calling war a global phenomenon that affects all countries in more ways than one, he hailed entrepreneurs for being enterprising and resilient in the face of adversity.

Iyer said ‘If you look at the flow of business or the trade numbers between the UK and India for the period ending Q4 of last year, the number stood at 34 billion British pounds. For the same period ending the year before last, it was around 19 billion pounds. So it's been a big jump in trade and business’. He added ‘The interest in UK is so high that people want to come there and set up their business and use that as their global headquarters... This means that countries are doing more business together. The aspirations have the potential to double the trade and investment numbers by 2030’. Detailing plans to attract Indian investment in the UK, he said his team was working across India to identify companies with potential and was holding discussions, understanding their aspirations and connecting them with the right people in the UK.

Talking about Indian students who opted for the UK for higher studies and were finding it difficult to land a part-time job, he said employment was at an all-time low in the UK but opportunities were coming up. He said there was a huge demand for STEM professionals in the UK, and Indian students had a lot of opportunities in technical businesses and the banking sector as well. About the collaboration with the state government in the education sector, the British diplomat said he was keen to work with Kerala on student exchange and co-branded courses.