India, UK Sign Free Trade Agreement, Boosting Digital, Defense, and Academic Cooperation
India and the UK have signed a Free Trade Agreement, paving the way for collaboration in digital infrastructure development. Lord Karan Bilimoria, a prominent supporter of the agreement, sees immense potential in this partnership, particularly in defense and academia.
Lord Bilimoria believes India's reputation has evolved beyond being merely an 'outsourcing destination'. He foresees significant cooperation in defense and academic sectors. British educational institutions are already showing interest in establishing campuses in India.
The agreement will also focus on digital trade. India aims to share its digital stack with the UK, further strengthening their economic ties. This collaboration comes at a time when the US, making up only 13% of global trade, faces potential setbacks due to increasing tariffs, as warned by Lord Bilimoria.
The India-UK Free Trade Agreement opens doors to joint ventures in digital infrastructure, defense, and academia. With the US's share of global trade declining, this partnership presents a significant opportunity for both nations to grow and diversify their economies.
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