Narendra Modi’s India can be a valuable partner for Britain in tumultuous times
Last week, we witnessed two momentous elections, and two nations at a crossroads.
In the UK, the country engaged in a strategic game of votes in the European elections, and Theresa May met her inevitable fate as the latest victim of Brexit.
In India, Narendra Modi won the largest democratic election to ever take place, securing overwhelming levels of support.
While the UK is stuck spinning in indecisive circles, India was conclusive in its choice. Modi’s party secured the largest victory by any party in 30 years, retaining power in his second consecutive election.
This stability is what a country needs – and it is what Britain is currently lacking. But in these tumultuous times, we are fortunate that we can rely on our special relationship with India to remain consistent, and it is more imperative than ever that we continue to strengthen this winning partnership.
This relationship deserves more widespread appreciation – because the UK and London in particular are already reaping the rewards. Modi’s success will ensure that this is set to continue, as the Prime Minister remains dedicated to the policies that have turned India into such an important partner.
Under his leadership, India has surged in the World Bank’s Ease of Business ranking, rising an unprecedented 65 places since 2014 to become the top-ranked country in South Asia, coming in at 77.
This has transformed the country’s business landscape and illuminated the potential for prosperous trade and investment to grow between the UK and India. Last year alone saw bilateral trade grow 14 per cent between our two nations.
Further to this, there are now a record 842 Indian companies operating in the UK, with combined revenues of almost £48bn – up by £1.6bn from 2018.
Investment from India increased an incredible 321 per cent in 2018 over the previous year, and London sits at the epicentre of this prosperity, attracting more investment projects from India than any other major European city.
London’s skills and talent sector has also benefited hugely from this relationship.
According to the Office for National Statistics, falling European migration since the referendum has led to Britain turning to India to provide the much-needed talent, particularly in the technology sector, and Indian workers now receive more skilled work visas to the UK than the rest of the world combined.
Indian business leaders are truly dedicated to supporting their UK counterparts. During the upcoming UK-India Week 2019 in London in June, a significant number of Indian businesses will descend upon the India Inc. Leaders’ Summit.
Some of the largest names in business are making the journey solely to consolidate relationships and engage in industry-shaping dialogue.
Whatever the future that Brexit holds for us in the UK, this is a stable, thriving partnership that we can rely on. We would be complete fools not to recognise and capitalise upon the value of our links with India. At a time of such instability, Britain should be relieved that India, at least, knows where it is going.