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CBI launches first ever international delegation to India
The CBI is today (Monday) announcing its first-ever business delegation to India on 6th – 8th February 2023.
The three-day trip will be led by the CBI’s Chief Campaigns Director, Syma Cullasy-Aldridge and feature some of the biggest names from British and Indian industries including HSBC, Tide, Pernod Ricard, and ICICI Bank.
This visit comes in the backdrop of the UK negotiating the seventh round of the free trade agreement (FTA) with India. The potential FTA could boost trade with India by £28 billion a year by 2035 and increase wages across the UK by £3 billion. The programme will bring UK business together with key senior stakeholders from the British High Commission in Delhi and the Government of India, to discuss growth opportunities in the Indian market for UK businesses and how an FTA can help unlock them.
The delegation will focus on key growth sectors where UK and Indian business can develop profitable partnerships such as innovation and sustainability. The visit aims to share knowledge on how to scale up unicorns to addressing ways to increase trade in green goods and services between the two countries and contribute to net zero ambitions. Development of sustainable infrastructure, access to sustainable finance and navigating any trade barriers related to the sector in the country, will be top of the agenda.
Syma Cullasy-Aldridge, CBI Chief Campaigns Director, said: “With a free trade deal between the UK and India soon to be signed – and agreements such as the UK-India Young Professionals Mobility scheme already in place - now is the time for businesses to explore how to grasp the huge opportunities that India affords.
“The CBI’s first ever delegation to India will put the promise of an FTA into practice – helping businesses develop links with key stakeholders and supporting UK firms to go for growth around the world.”
Greg Hands, Minister for Trade Policy at the Department for International Trade, said: “The UK-India relationship is going from strength to strength, so it is fantastic that the CBI is sending its first ever business delegation to India.
“India is on track to become the third largest economy with a quarter of a billion middle class consumers by 2050 - so the free trade deal we're negotiating with them could unlock huge benefits for UK firms.”
Gurjodhpal Singh, CEO, Tide India, said: “Tide has had significant support from the Indian government’s ‘ease of doing business’ drive, and from a wide array of government stakeholders in India and the UK. We’re also now embedded in the country’s fintech ecosystem and its financial services industry.
“We are excited to be part of the first CBI delegation from the UK to India, and applaud their efforts to support the Government of India’s commitment towards creating an even easier and business-friendly environment in the country.”
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