Gopichand Hinduja, the chairman of the Hinduja Group and Britain’s wealthiest man, recently expressed his disapproval of the United Kingdom’s departure from the European Union (EU). Despite his reservations about Brexit, Hinduja displayed confidence in Prime Minister Rishi Sunak’s capabilities to rejuvenate the country’s struggling economy.
Hinduja emphasized the significance of the UK’s efforts to forge new trade partnerships, which he believed would play a pivotal role in bolstering the nation’s economy and reaffirming its appeal as an attractive destination for investments.
While Hinduja acknowledged that Brexit was not a favourable step for the UK, he saw potential in the country’s pursuit of trade agreements with 11 other nations, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. He believed that these deals could have a positive impact on the UK’s economic prospects.
One of the key trade agreements Hinduja underscored was the forthcoming free trade agreement (FTA) with India. He highlighted India’s projected economic growth, set to become the world’s third-largest economy by 2027, and emphasized the potential benefits of a strong partnership between the UK and India.
Despite challenges faced during the FTA negotiations, Hinduja remained optimistic about the long-term gains for the UK. He acknowledged that bureaucracy posed a significant obstacle but stressed that the potential benefits of the partnership would span across various sectors, including technology, infrastructure, health, education, and defense.
Hinduja’s positive growth projection for India’s economy until 2027 was based on his instincts and experiences, reflecting the rising economic prominence of India globally. His optimistic outlook on the potential collaboration between the UK and India demonstrated his confidence in the two nations’ future economic ties.