The Mayor of London, Sadiq Khan, has announced on Tuesday, a six day visit to India and Pakistan later this year. His itinerary includes Mumbai, Delhi and Amritsar in India, before heading to Lahore, Islamabad and Karachi in Pakistan. The primary goal is to promote the capital in both countries and strengthen trade and cultural ties in line with the ‘London is Open’ post EU Referendum. The Mayor pointed out that London had not witnessed any lack of investment from either India or Pakistan since the Brexit vote last year.
Khan is expected to meet senior politicians, business leaders and city chiefs in both countries during his short visit. He is the first major British politician in recent times to be visiting both countries. Having ancestral roots both in India as well as Pakistan, his personal affinity for the subcontinent has strengthened his mission to reclaim London as the number-one destination for education, business and investment for both India and Pakistan.
Accompanying The Mayor will be his Deputy Mayor for Business, Rajesh Agrawal, who will be leading discussions on business and investment. A delegation of business leaders taking part in the Mayor’s International Business Programme will meet Sadiq Khan in Mumbai ahead of the business delegation’s further visit to Hyderabad and Bangalore. Since the election of the Mayor, more than 340 companies have enrolled under the above programme. These companies have secured close to £ 120 billion worth of investment, and their presence in this visit seems promising for the country’s financial-tech sector.
UK has been the second largest destination for Indian investment between 2005 and 2016, and London is the base for 44 per cent of the fastest growing Indian companies. The Indian investment in the UK is more than their investment in the rest of the Europe combined, and Indian companies employ close to 110,000 people in this country. In February, a published research by the CBI revealed that the UK is still the single largest G20 investor in India. As part of the India-UK Year of Culture, the year of bilateral cultural exchange, the Mayor will also meet prominent figures from Bollywood as well as representatives from the tech, education and sports sectors.
The trade between the UK and Pakistan is valued at £2 billion, and in 2015, five Pakistani companies were listed on the London Stock Exchange with a total market value of £10.5 billion. Owing to the improving Pakistani economy, its rapidly growing middle class, and a national population of 207 Million, over 100+ British businesses involved in business in Pakistan are optimising the tremendous opportunities it is offering. London is the third largest investor in Pakistan and the major London businesses operating there are Ernst & Young, Shell, Reckitt Benckiser, Bestway, AON, Ashmore, GlaxoSmithKline, Unilever and Standard Chartered. The UK is the fourth largest source of foreign investment in Pakistan, following the UAE, US and China. The Mayor will also meet leading figures from Pakistani cultural, sporting and financial sectors.
This visit will also witness discussions on the issue of immigration, specifically visa for students, post-study work visa, and the entrepreneurial visa. The Mayor assured that he is lobbying for an increased inflow of international students to the UK, expressing a grave concern on London’s falling position as India’s and Pakistan’s preferred destination for education abroad. The issue of student visas has been raised by the Asian media frequently and the two primary reasons for the reducing number of international students have been the revocation of Post-Study Work visas as well as the inclusion of students in the immigration cap. Today, London ranks third in international student market and is in competition with major cities around the around to attract international students and highly skilled workers. The delegation will also include looking for opportunities to support and foster the SMEs in London, as close to half the employed population of London works for SMEs, making them a fundamental brick to London’s financial setup.
The Mayor of London, Sadiq Khan, said: “As someone whose grandparents were born in India, and whose parents moved to London from Pakistan, I feel a deep affinity for the subcontinent.
"But what excites me most about this trip is that I know it can deliver real benefits for Londoners. Benefits in terms of business and trade, jobs and investment, and in terms of cultural and technological exchange.
“This is a really important mission as there are so many areas in which London can work with its counterparts across India and Pakistan. Not only in business but in tackling some of the biggest challenges we all face – such as air pollution and climate change.
“I am passionate about showing that my city will always be open to engaging with partners from around the world, and I look forward to strengthening the bonds between London and our friends in India and Pakistan later this year.”
On being asked about the issue of tensions between India and Pakistan, he responded, “In London we are a beacon of tolerance, respect and diversity, which I will try my best to demonstrate.” Further details of the itinerary will be announced closer to the date of his visit.
