This week I hosted an event as Chairman of City Hindus Network with invites to the India League (www.theindialeague.org) of which I am President. It felt appropriate to host it at the India Club on the Strand which had become the home of the India Club. The India League after Indian Independence, transformed itself to promote UK India relations and from the club you are a stone’s throw from the Indian High Commission.
A lot has happended this year. India took over the G20, UK has a British Indian PM. And now the Indian High Commission has announced e-Visas for UK visitors. This is important because when I was in India a whole UK delegation of businesses had to cancel their trip because their visas had not come through on time. I really am liking the new High Commissioner. He speaks to camera and get’s things done.
The two nations seem determined for a robust economic alliance. Whilst the UK media will play out its occasional imperial patronising condescending self-righteous tone towards India, the Indian side knows the media is not the political will.
The UK knows India’s alliance with Russia is due to cheap oil for a population which cannot afford higher prices, despite an economy bigger than the UK’s. The UK also knows the Indian side knows Russian military hardware is a joke and needs replacing. But more expensive Western supplied and Western made hardware is not the answer. Domestically made cheaper Western hardware is – as the EU is doing in Gujarat. The Indians will flex their muscles over make in India. They are more assertive (except against China – their will be a time and place for a reckoning, now is not it).
The UK has a fantastic alliance sending its satellites on Indian space rockets. But space is not military. In space even Russia and US work together. Military is different. This year the UK Carrier Strike Force visited India – fantastic. A ship from that also visited Pakistan. Well, ask the Indian’s in a closed room, off the record how that feels.
UK knows if you do not condemn Pakistan, the way Americans have, then India will not trust you. And Russia provides a guaranteed UN security council veto. Russia will not be removed entirely from the equation any time soon. Indians will tell you about 1965 and 1971. It’s their prerogative not to forget.
The French not turning up to support Tipu Sultan is long forgotten, though. Thanks to the French rolling out the red carpet time and again in recent years.
For UK businesses, India presents a significant opportunity. India has a population of 1.3bn, ten per cent of whom are English speaking. With the incredible potential for further financial growth, this is precisely the type of opportunity the UK needs to make the economy a success post-Brexit.
Currently, trade between the two countries has plenty of room to grow: India is only the UK's 6th biggest non-EU trading partner. Indeed, with India set to loosen its protectionist policies, including increasing foreign stakeholder allowance from 49pc to 74 per cent, this represents exciting news for the UK's biggest export: professional and financial services.
Additionally, India's transformation into a developed economy means banking, fintech, and education are all sectors that would greatly benefit from close international alignment.
Security, especially cyber, is the key area for closer ties. We can all think of trade and investment issues, but there are plenty of people working on those. Security issues the way the EU, France and US are getting a jump are key for the UK to keep it’s rightful place at the table. I hope our military leaders understand just how significant the issue of terrorism out of Pakistan is to India and manufacturing and intellectual property rights are too.
