On January 09, Shri Rajnath Singh held a bilateral meeting with Mr Grant Shapps. Emphasis was on enhancing defence industrial cooperation between the two countries.
Raksha Mantri Rajnath Singh holds UK-India Defence CEO Roundtable in London
Raksha Mantri Rajnath Singh and his British counterpart Grant Shapps today interacted with the industry leaders and CEOs at the UK-India Defence CEO Roundtable in London. Mr Singh said, India envisions an enriching partnership with the UK to cooperate, co-create and co-innovate. He said, by synergizing the strengths, both countries can do great things together. The Raksha Mantri welcomed the investment and technology collaboration from the UK, and stated that India is ready with skilled human resource base, a robust pro-FDI and pro-business ecosystem, and a huge domestic market.
Mr Singh asserted that under the visionary leadership of Prime Minister Narendra Modi, India is surging ahead on the path of becoming a developed economy by 2047. He added that the ambition is backed by a clear headed roadmap to chart the course and is backed by the collective will-power of 1.4 billion Indians to stay the course.
UK Defence Minister agreed with the statement of Mr Singh regarding the symbiotic relationship between India and UK. Mr Grant Shapps further stated that the ties transcend the normal buyer-seller relationship and is fundamentally a strategic partnership.
The roundtable was attended by a large number of CEOs from UK defence industry, UK Ministry of Defence officials, Chairperson of UK India Business Council and CII India representatives. Some of the major companies represented were BAE Systems, GE Vernova, James Fisher Defence, Leonardo S.P.A., Martin Baker Aircraft Company Ltd, SAAB UK, Thales UK, Ultra-Maritime Rolls-Royce, ADS Group, and MBDA UK.
The meeting was also attended by UK Minister of State for Defence Procurement James Cartildge. The Roundtable included thematic discussions on strengthening the India-UK defence industrial relationship.
The industry leaders from UK outlined their current and future plans for India. Aero-engines, electric propulsion, missiles, power-packs, and maritime systems were identified as some of the focus areas of joint work. The Raksha Mantri noted the positivity and enthusiasm of UK CEOs and business leaders on working in India and with the Indian companies.
Mr Singh is scheduled to meet UK Prime Minister Rishi Sunak and UK Foreign Secretary (Secretary of State for Foreign, Commonwealth and Development Affairs) David Cameron later today.
Economic and Commercial Relations
•Total trade in goods and services (exports plus imports) between the UK and India was USD 32.7 billion during the period from April 2021 to March 2022.
•Total exports from India to UK amounted USD 21.5 billion while imports from UK to India amounted USD 10.2 billion.
•India has a trade surplus relationship with the UK.
•The UK is the 7th largest export destination for India.
•India is also the 2nd largest source of FDI for the UK.
Indian Diaspora in the UK
•Indians make up around 2.86% of the United Kingdom’s population.
•As per the UK Census 2021, Total Indian Population in the United Kingdom is around 19 Lakh or 1.9 million.
•The UK is the largest source of European remittances to India.
India UK Defence Exercise
•Ajeya Warrior
•Konkan
•Indradhanush
