UK economic crisis: How a deal with India is giving Rishi Sunak government high hopes? – न्यूज़लीड India

UK economic crisis: How a deal with India is giving Rishi Sunak government high hopes?


Britain is facing a big crisis

According to economic experts, there are immense problems in front of the UK government, so they see the Free Trade Agreement (FTA) with India as an essential element for the necessary economic development with great potential. According to a report in the Indian Express, Dr Anna Valero, Senior Policy Fellow at the London School of Economics’ (LSE) Center for Economic Performance, has said that “the economic crisis in the UK is due to some new and some old factors.” He added that, “high inflation, high interest rates and fiscal policy being made very tough at a time when the United Kingdom was going through very poor productivity, this has actually led to tightening in the UK especially since the financial crisis.” This occurs against a background of poor productivity growth, which has created enormous pressure within the working class.”

problems of the british economy

British economy problems

According to Dr Anna Valero, the British economy is trapped between large and persistent inequalities and poor growth amid poor inequalities has stagnated the growth of the UK economy and made Britain a ‘stagnation nation'”. She added that, ” There is an urgent need for a new economic strategy if the UK is to be on a stronger, fairer and more sustainable growth path.” On the other hand, when asked how the India-UK FTA could affect the British economy He welcomed the trade deal and said that Rishi Sunak is very keen and committed to strike a trade deal with India. He said, “Such a deal could create growth opportunities for the UK , especially if the export service was cashed in by Britain on the side and exported to India. The export sector has been a sector of relative profit for Britain”.

Why is India important to Britain?

Why is India important to Britain?

The energy crisis caused by the Ukraine crisis has severely affected the British economy, leading to a crisis of livelihood for UK domestic consumers. Along with this, the Kovid crisis and Brexit only added to Britain’s problems, when Britain came out of the European Union in 2016 (called Brexit), so now Britain is looking for a market where it can export Can increase and for which it can open its doors. According to economic experts, after being caught in the economic crisis, it is difficult for ordinary British families to spend on the education and health sectors, which make up any prosperous economy. Experts say that it is necessary for the British government to move forward with a plan that will stabilize the country’s economy and Rishi Sunak is preparing to present the budget this next month, so he has a lot to say about the economy. There will be a chance to give stability.

Why is the deal with India important?

Why is the deal with India important?

Dr. Anna Valero said that, she considers India-UK Free Trade Agreement as positive, on which the talks have again intensified. India, as the world’s fifth largest economy, is located at the heart of the Indo-Pacific region which adds to the attractiveness of such a free-trade agreement. He said, “The FTA with India will lead to a rapid increase in UK exports, which will strengthen the UK’s trading position. Along with this, trade routes will be diversified, which will make the supply chain more flexible, so the political system of the country Things will be less vulnerable for India. He believes that there is a need to revive the country’s manufacturing sector and a trade deal with India will be very important for this.

India-UK, both need each other

India-UK, both need each other

Former British Prime Minister Boris Johnson, who was very keen on a trade deal with India and aimed to finalize the deal before Diwali. But, he had to resign from his post midway. But he still believes that India and Britain both need each other more than ever before. He said that the two countries need each other now more than ever because “we are living in dangerous and turbulent times.” Johnson called on the two countries to finalize a free trade agreement, saying he cannot wait until next Diwali for it.

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