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Background: India-UK Economic and Commercial Relations

On the side-lines of G20 Summit held in Australia in November 2014, Shri Narendra Modi, Hon’ble Prime Minister of India held his first bilateral meeting with Rt Hon David Cameron, Prime Minister of the UK. During their meeting, the UK Prime Minister said that the “relations with India are at the top of the priorities of the UK’s foreign policy.”

Prior to that, at the last India-UK summit held in New Delhi on February 19, 2013, the Prime Ministers of India and the UK reviewed the progress made since the previous Summit in July 2010 on building a stronger, wider and deeper relationship across the range of India-UK interests, based on shared culture, values and strategic interests. They agreed that, while substantial progress had been made on the ambitious targets set in 2010, there was considerable potential for expanding the relationship further, in particular in the area of trade and investment, and they agreed on the importance of an approach which supported business. The UKPM visited India for a second time on November 13-14, 2013. This was the third visit of UKPM in three years since 2010. The PM was accompanied by a small business delegation to further increase the opportunities on offer to help British businesses succeed abroad.