G-20 means huge opportunities for big business at home
- In addition to the FTA, there will be new agreements for business between India and Britain in fifteen days. Details of the new contract will be announced shortly.
- India also cannot afford to lose the opportunity to increase business at its doorstep. Investors from all over the world are trusting India
- India has Free Trade Agreements with 54 countries. Britain and India do trade worth 50 billion dollars on both sides.
- It is now being proved that Modi means business. A free trade agreement between the UK and India could be a business boost for India
Many problems of the world may be discussed on the platform of G-20 but one fact should not be forgotten that G-20 means business for India. When the thrones of 20 countries are eager to listen and understand India, direct or indirect business is bound to increase. For example, the stalled FTA agreement between India and Britain is going to be implemented again, which will bring business worth ten thousand crores. It is now being proved that Modi means business. A free trade agreement between the UK and India could be a business boost for India.
After the talks between Prime Minister Modi and British Prime Minister Rishi Sunak on the table of G-20, the stuck visa issue was resolved and the quota of 3000 per year was also decided. Once the FTA agreement is signed, billions of trade opportunities will be created.
Apart from this, other business agreements were also discussed between India and Britain. There are also reports that there will be a new business agreement between India and Britain within fifteen days. The details of the business agreement beyond the FTA will be announced shortly but it seems likely that India will be able to get Britain's help in retrieving the stashed away in Britain.
When former British Prime Minister Boris came to India, FTA was signed with India but it was not finalized. Then came the Lease Truss Prime Minister. He belonged to the anti-India lobby, so he turned the tide on the idea of FT. Lease Truss could barely stay in power for a month and a half. Then came Rishi Sunak of Indian origin. He was very impressed with the authorities of India, especially Prime Minister Modi. He met Modi when he came to participate in the G-20 and then the chance for FTA arose.
Various agencies have been tasked with branding India under the theme of G20. The Union Tourism Minister has said that the G-20 chairmanship will bring new investments in India's hospitality business. Investment in ancient healing methods of India etc. will also increase. India's health tourism industry will also get a boost. At the inauguration of the three-day 10th International Tourism Mart, G. Kishan Reddy said that the G-20 meetings will be held in the states including the northeastern states. Because of this, every delegate coming from abroad will get a chance to show the culture and uniqueness of India.
Giving an example, he said that the idea of eco-tourism in Mizoram will be seen by the representatives of every country. People from abroad will also be able to see the comprehensive development works done in North East. When foreign representatives come, business to business meeting and special meeting with G20 representatives who are interested in business will also be held.
Commerce Minister Piyush Goyal has said that India's economic sector is becoming viable due to bright opportunities for business beginning in late 2022. India is moving towards becoming a five trillion dollar economy by 2025 and in 2047, India will become a 30 trillion dollar economy and join the ranks of developed nations. At the technology summit held in Bengaluru, he said that India is benefiting from the opportunity given to e-commerce and startups. He has termed Open Network for Digital Commerce as a game changer. Because it will involve about six crore small shopkeepers of the country.
India also cannot afford to lose the opportunity to grow business at its doorstep. Investors from all over the world are trusting India. India has created a distinct identity in the world in the field of information technology.
After assuming the chairmanship of G-20, India will now strengthen its relations with 20 countries and show the world's oldest civilization to the guest countries. How independent India has struggled during and after the British rule to show its progress and to show its huge industries and reputed companies to the world.
India's health tourism is also attracting many people. Indian industries wanted to trade with Britain but government regulations stood in the way. Now after FTA both sides will be able to trade easily.
Every corner of every business in the industry has become active because of the potential FTA. Everyone wants to do business with Britain. Free trade agreements have created opportunities for everyone to do business in Britain. Less restrictions and open market can also be taken advantage of. There has been an increase in business inquiries at the British High Commissioner's office.
India is on free trade agreement with 54 countries. Britain and India trade 50 billion dollars on both sides. Both sides are likely to see a three-fold increase in business when both sign an agreement on the FTA.
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