Ahead of the G20 Leaders Summit scheduled in New Delhi next month, the UK Trade Secretary has inaugurated the ‘Alive with Opportunity’ Campaign in India. The aim of this campaign, backed by a budget of £1.5 million, is to fortify trade and cultural ties between the two countries, with a focus on achieving the ambitious goal of doubling trade by 2030. Kemi Badenoch, the UK Trade Secretary, is currently in India for the G20 meeting and intends to hold talks with the Indian side to review the progress of Free Trade Agreement (FTA) negotiations.
The ‘Alive with Opportunity’ Campaign seeks to extend beyond the realms of strong business and trade connections that exist between the UK and India. It aims to spotlight shared cultural interests that encompass a wide array of domains such as sports (football and cricket), cuisine, film, and more. This initiative comes as a significant announcement during Kemi Badenoch’s visit to India for the G20 Trade talks, which is also marked by crucial meetings with prominent figures including Tata Chair Natarajan Chandrasekaran and Commerce Minister Piyush Goyal.
In a notable shift, higher education, agri-tech, and e-sports have been identified as key sectors to be highlighted during a series of modern and targeted UK trade missions to India over the upcoming year. This strategic move underscores the multidimensional approach of the campaign. She is set to launch this campaign during her three-day visit to India, starting with her attendance at the G20 Trade Ministers Meeting in Jaipur, followed by a parallel business-focused Business 20 summit in New Delhi.
“India is the UK’s second biggest source of investment projects and I’m confident this new campaign will help boost interest in and demand for UK goods and services even further,” said Ms Badenoch.
The ‘Alive with Opportunity’ Campaign aligns with the UK’s objective to double trade with India by 2030. Its primary goal is to spark interest and generate demand for UK goods and services while also attracting new Indian inward investments. Recent data from the Department for Business and Trade (DBT) underscores the significance of India as the UK’s second-largest source of investment projects, contributing to the creation of thousands of new jobs.
Notably, both countries enjoy a significant presence of businesses in each other’s territories, further strengthening the economic bond. Over 900 Indian businesses operate in the UK, while more than 600 UK businesses are making strides in India, collectively generating employment for over half a million people.
The British High Commission in New Delhi issued an official statement explaining that the ‘Alive with Opportunity’ campaign will celebrate various aspects of the UK-India relationship, including business, trade, culture, and sports. The campaign will leverage significant events such as India’s hosting of the Cricket World Cup and the England-India test series starting in January. The campaign’s promotional efforts will be widespread, spanning billboards, airports, and social media platforms. Additionally, targeted trade missions, promotional events, and marketing activations will contribute to the campaign’s resonance in both countries.
Central to the campaign is the concept of a ‘living bridge,’ a term coined by Prime Minister Narendra Modi to epitomize the ongoing exchange of people, ideas, and culture between the UK and India. This dynamic and evolving connection is at the heart of the campaign’s narrative.
British High Commissioner to India Alex Ellis commented on the thriving bilateral trading relationship, which is already substantial and poised for further growth. He emphasized that both countries are committed to strengthening their economic ties across various sectors, fostering prosperity and employment opportunities.
During her time at the G20, Secretary Badenoch will advocate for greater digital trade deployment, which has the potential to streamline international trade for businesses of all sizes. While in New Delhi, she will engage with major Indian businesses representing diverse sectors like BP, HSBC, Vodafone, Rolls Royce, and the Confederation of Indian Industry.
Crucially, Secretary Badenoch’s visit aligns with the ongoing FTA negotiations between the UK and India. These discussions, aimed at creating a comprehensive and ambitious trade deal, are currently in their twelfth round. These negotiations encompass intricate matters related to goods, services, and investment. Both sides are keen on achieving a fair and reciprocal deal that benefits their respective economies and citizens.
While there’s optimism about the conclusion of negotiations before the year’s end, officials emphasize that nothing is agreed upon until everything is agreed upon. The impending FTA is expected to inject new energy into bilateral trade. India, already the UK’s 12th largest trading partner, witnessed an increase in bilateral trade, amounting to $20.36 billion in the fiscal year 2022-23.
In conclusion, the ‘Alive with Opportunity’ Campaign signifies the UK’s commitment to enhancing its relationship with India in various dimensions, from business to culture. By showcasing shared interests and promoting economic cooperation, this campaign sets the stage for a deeper, more prosperous partnership between the two nations.