India will overtake the UK to become the third largest economy in the world by the end of this decade. So both countries need to work together. British High Commissioner Alex Ellis said the two economies are roughly the same size. But, India is growing rapidly and will overtake the UK.
In an India-UK event, he said that the UK has overtaken the European Union. So this is an opportunity that we can do well with India because we have the political will. Prime Minister Narendra Modi and Liz Truss spoke a week ago and it turned out very well. A Free Trade Agreement (FTA) is also expected between the two countries by Diwali this year. This will increase employment in the next 25 years as the economy grows.
Business expected to double
Trade between the two countries is expected to double by 2030. According to the report, greater economic connectivity between India and the UK helps in the diversification of the global supply chain and doing business. 618 UK companies in India provide 4.66 lakh jobs. Their turnover is Rs 3,634.9 billion.
ADB cuts growth rate
The Asian Development Bank (ADB) has reduced India's growth rate to 7 percent for 2022-23. Earlier it was estimated to be 7.2 percent. The bank said that due to inflation and rising interest rates, the growth rate of the economy will be affected.
S&P said, even though the US and the euro area are heading towards recession, it will not affect the Indian economy.
NPAs will reach the lowest level in 10 years
Crisil said bad bad loans (NPAs) of banks may fall by 0.90% to 5% in the current financial year. By March 2024, this could come down to 4%, which would be a decade low. For the week ended August 26, banks' credit increased by 15.5%, while deposits grew by 9.5%. Due to an increase in the demand for borrowings and currency notes in circulation, there will be a liquidity crunch in the banking system in the second half as well. For the first time since May 2019, there was a shortfall of Rs 218 billion in liquidity on Tuesday. More money will come out of banks during the festive season. Banks had Rs 8 lakh crore in April.
BJP sting on MCD elections: Claim- AAP leaders demanded Rs 80 lakh from the party's women workers for ticket
Before the MCD elections, BJP showed a sting operation on Monday. Claimed that AAP leaders are demanding Rs 80 lakh for giving tickets in elections. BJP spokesperson Sambit Patra claimed that AAP
Marathi Row: 'If a poor person speaks Hindi, he is beaten up, no one cares about Javed Akhtar and Aamir Khan...', Nitesh Rane on Marathi controversy
The case of assault on a food stall owner in Mumbai for not speaking Marathi has heated the politics across the state. In such a situation, now Nitesh Rane, a minister in the Fadnavis government, has
Soren said - a 1000 crore scam is not possible: such action of summons is going on as if I am about to leave the country; Inquiry started in the ED office
ED's interrogation of Chief Minister Hemant Soren is going on in the illegal mining case. A list of 100 questions has been prepared for questioning the Chief Minister. For this, a team of officers
90-Hour Workweek: 'Misunderstood', L&T HR chief defends SN Subramanian's 90-hour work statement
Larsen & Toubro (L&T) HR chief Sonika Muralidharan has defended Chairman SN Subramanian's statement that he advised employees to work 90 hours a week. After this statement, a big debate broke
Delhi Liquor Case: CM Kejriwal appeared virtually in the court, said - could not come in person due to trust motion
Chief Minister Arvind Kejriwal appeared in Delhi's Rouse Avenue Court today after not appearing on ED summons in the excise policy case. The Chief Minister appeared in the court through video
Sikkim Flood: Relief Commissioner of Sikkim visited the disaster-affected areas of Mangan district, took stock of the damage
Secretary of Revenue and Disaster Management Department and Relief Commissioner MT Sherpa on Thursday visited the disaster affected areas of Dongu and Chungthang sub-divisions of Mangan district. He
Nita Ambani: Nita Ambani did a wonderful dance on the bhajan she used to listen to in her childhood in her son's pre-wedding ceremony.
There was a lot of excitement at the pre-wedding functions of Anant Ambani, the youngest son of the country's biggest businessman Mukesh Ambani and Nita Ambani. Gradually pictures and videos from the
This new actor enters the Battle of Galwan, will he become an Indian Army officer like Salman Khan?
Earlier this month, superstar Salman Khan announced his upcoming much-talked-about film, Battle of Galwan. As an actor, this is a big thing for Salman, and his career is linked to this movie. For a
LokSabha Polls: In some places, the candidates returned the tickets and in some places, they took back the papers; How did Congress get into trouble before the elections?
Lok Sabha elections are currently going on in the country. Voting has taken place in two phases. In the seats where voting is yet to be held, all the parties are putting their efforts
Will PM Justin Trudeau lose his position? Pro-Khalistan party NDP withdraws support from Canadian government
Khalistan advocate PM Justin Trudeau has suffered a major setback. Khalistan supporter NDP leader Jagmeet Singh has increased Trudeau's tension. The NDP has withdrawn its support from the Trudeau
