British PM’s visit will open up fresh avenues
The three-day visit of British Prime Minister Theresa May to India will help cement bilateral ties further. It will provide an opportunity for the Narendra Modi Government to make a new beginning with the Conservative Government of UK in the post-Brexit scenario. May’s tour is expected to provide a fresh dimension, mainly to strategic partnership, trade and investment, focus on small and medium-sized business and the post-Brexit scenario, apart from other matters. The visit has significance, as it is May’s first bilateral trip outside the European continent since she came to office. Both Prime Minister Modi and May will review all aspects of the India-UK strategic partnership agreement. India’s sustained contribution to the multilateral institutions had had a larger role in upgrading our ties with the UK to that of a strategic partnership in 2004. Further, during the visit of then Prime Minister David Cameron to India in 2010, the very foundation for an ‘Enhanced Partnership’ was laid down. Indeed, this partnership received a boost when Prime Minister Modi visited the UK and subsequently released a vision statement for the same. With the possibility of Britain moving out of the European Union’s single-market soon, its new leadership is looking forward to inking free trade agreements with countries like India, China, Singapore, Canada, Mexico and South Korea. It is important for a country like Britain to assuage the business community that the impact of the historic Brexit will not be the way it has been projected. In this new environment, May faces daunting challenges to balance the aspirations of both the Brexiteers and the remainers. More difficult for her will be to handle the widely divided camps within her Conservative Party while moving ahead for the final Brexit legislation. In this backdrop, emerging economies like India can play a significant role in contributing to the sustenance of the global business hub status of london. As May will be accompanied by a team of business leaders belonging to the small and medium-sized business community of the UK, her visit will be mutually helpful to India's ever-growing domestic counterpart to explore new business opportunities also. She will inaugurate the India-UK Tech Summit, which is considered as South Asia's largest technology conference. This will help tech giants of both the nations to explore technology-intensive business opportunities. Besides, the entrepreneurs and innovators of the UK and India will meet at another significant event convened by the Joint Economic and Trade Committee to discuss taking bilateral ties to the next stage.
Britain and India — both robust democracies, have the strength and will to re-shape the narratives and contours of global politics in the days to come. Both countries must forge ahead and see to it that the post-Brexit fear do not play spoilsport for Indian companies in trade and investment opportunities in Britain. Despite rising fears of Brexit, India must not lose out to its competitors like China, while making decisions to renew its ties with Britain. India's huge cultural diaspora and centuries-old relationship with Britain must be kept in mind by both New Delhi and london.