An event held by law firm Shakespeare Martineau brought together a group of the foremost business leaders in the UK and India to discuss the shape of future relationship between the two countries.
The panel discussion held at the Shard in London and chaired by the Rt. Hon Lord Ajay Kakkar, sought to evaluate the challenges and opportunities for collaboration against the backdrop of Brexit.
The discussion covered important themes such as minimising risk exposure in cross-border transactions and essential information to know when conducting trade in each territory.
The panel discussion and Q&A session also delved into deeper issues including the best way to navigate upcoming regulatory, commercial and political challenges that Brexit may impose on the relationship between the UK and India.
The panel was formed of Abhijit Mukhopadhyay, President (Legal) and General Counsel of the Hinduja Group, Philip Bouverat, director at JCB, Matthew Crate of foreign exchange specialist Moneycorp and Dr Sanjeev Kanoria, trustee of the Kanoria Foundation.
Immigration specialist Tijen Ahmet, a legal director at Shakespeare Martineau, was representing the firm on the panel and was joined by Abhinay Muthoo, professor of economics at the University of Warwick and Suhas Srinivasiah, a senior partner at Indian law firm, Kochhar & Co.
The Rt Hon Professor, Lord Kakkar, said: “The India-UK relationship represents a great opportunity for business in both countries. At this excellent event those present enjoyed in a lively debate.
There are important challenges if the full potential of our long standing relationships are to be fully realised. Collaboration and discussion will be key in addressing these areas, for mutually-beneficial trade, skills and knowledge exchange, and investment.”
Ravi Goonesena, partner in Shakespeare Martineau’s London office, said: “In the midst of Brexit turmoil, India represents a great opportunity, not only for mutually-beneficial trade of goods and services, but also as a source of highly-skilled talent.”
Matthew Crate, head of strategic partnerships at Moneycorp, said: “The foreign exchange is the largest global traded market, USD 5.3 trillion is traded every single day. To put that into perspective, that’s more than what is traded annually on the stock market. For businesses looking to strengthen trade with India, the opportunity is huge and is there for the taking.”
Tijen Ahmet, business immigration specialist at Shakespeare Martineau, said: “The evolving relationship between the UK and India will not be without its challenges but by recognising what these might be and working with political, economic and commercial stakeholders to navigate them, the future looks bright for collaboration between the two nations.”
Shakespeare Martineau is a leading law firm that works with blue-chip companies, leading organisations, high street brands and individuals across the world. Its multi-disciplinary team deals with education, energy, banking and financial services, investment funds, healthcare, and advanced manufacturing for businesses of all sizes.
