British PM Theresa May is laying foundations to “improve” the visa system if India offers help return overstayers in the UK.
The prospect of a new ‘one in, one out’ policy is being mooted as part of a bid to strengthen links with one of Britain’s oldest trading partners, while ejecting what could be thousands of people outstaying their visa terms in the UK.
“We have invited the Indian Government to become the first government in the world to nominate top business executives for the Great Club – our bespoke visa and immigration service,” said Mrs May.
“We have also agreed to establish a strategic dialogue on home affairs issues covering visas, returns, and organised crime. As part of this, the UK will consider further improvements to our visa offer if at the same time we can step up the speed and volume of returns of Indians with no right to remain in the UK.
“And the UK will continue to welcome the brightest and best Indian students, with the latest figures showing that nine out of ten applications are granted.”
Indian Prime Minister Narendra Modi has stated that education will “define” the future relationship with the UK. The rhetoric is expected increase pressure on Mrs May to grant more student visas as part of a bid to improve trade links with the country.
However, Mrs May has signalled that she will not give in to the calls amid concerns about the number foreign nationals settling in the UK.
It followed an announcement of four new £600million Masala bonds to be launched to investors in London as part of plans to help Mr Modi finance infrastructure investment in India.
The bonds, first announced by George Osborne as part of Mr Modi’s visit to London last year, will be used to boost infrastructure investment in India.
More than £900million of the bonds have already been launched in the UK and have fuelled investment in Indian railways. The financial product, denominated in rupees, has proved popular with investors in the City.
“This is another vote of confidence in our world-leading financial services and further proof that Britain is open for business,” said Mrs May.
“This government will continue to work closely with both India and our financial services sector to ensure our growing rupee bond market continues to help finance India’s ambitious infrastructure investment plans.”