homeindia NewsUK to aim for a strong strategic p'ship with India if Labour Party gets elected: Ex Cabinet Minister Mandelson
UK to aim for a strong strategic p'ship with India if Labour Party gets elected: Ex-Cabinet Minister Mandelson
Mandelson said the Labour Party, if it comes to power, will look to increase investments and business collaborations in India with the free trade agreement (FTA) as the foundation. Speaking to CNBC TV18, he also said India has transformed into a strong geopolitical player in the equation between the US and China.
Former UK Cabinet Minister and senior Labour Party leader Lord Peter Mandelson on Friday, February 23, highlighted that India has transformed into a strong geopolitical player and is stepping up in the global arena. In the relationship between United States and China, India plays an important role geopolitically, he said.
Speaking to CNBC-TV18 on the sidelines of Raisina Dialogue 2024, Mandelson talked about India’s role in the Middle East. “If you think of the Middle East, which is a chronic situation at the moment, India is playing a role talking to the Iranians, being played in by the United States and others.”
India appears confident with professionally conducted foreign policy against the backlog of a very large and strong economy, suggested Mandelson.
The Labour Party is seemingly the favourite in the UK, with general elections set to be held later this year. Highlighting the roadmap for UK’s relationship with India, Mandelson said India is one of the countries with whom UK looks to form a strong strategic partnership, if Labour comes to power.
Mandelson added that UK, under the leadership of the Labour Party, will look to increase investments and business and industrial collaborations in India with the free trade agreement (FTA) as the foundation.
Mandelson also emphasised that visits by British bureaucrats and leaders are paving the way for closer ties with India, which will be a priority if the Labour Party forms the government in the second half of 2024. However, when asked about de-risking from China, he said the UK would not turn its back to other countries.
Speaking about strategic partnerships with other countries, he said, “What you'll see a Labour government doing is identifying key strategic partners —countries with whom we have values and shared international outlook in common, who are drivers of business and who want to create business partnerships.”
Labour Party’s plan
The Labour Party will look to bring financial and political stability, if it is chosen to form a government. Mandelson stressed that the business environment in Britain needs to switch to pro-investment to attract private investment in the country. He added that investment in infrastructure and skills needs to resume on a substantial scale to pull Britain out of chaos.
“The British economy will only lift itself out of the quagmire it's in with serious amounts of private investment. And we know that we're going to be competing on the international stage for private capital, private investment, which we want to bring to our country,” Mandelson added.
(Edited by : Shoma Bhattacharjee)
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Supreme Court says it may consider interim bail for Arvind Kejriwal due to ongoing Lok Sabha polls
May 3, 2024 4:57 PM
10% discount on fare on Mumbai Metro lines 2 and 7A on May 20
May 3, 2024 2:40 PM