UK announces Establishment of Hub in India supporting Women-led Businesses

By: WE Staff | Tuesday, 29 October 2024

The UK has announced a package of measures boosting intra-Commonwealth trade and investment, including the establishment of a hub in India to support female-led businesses. The initiative implemented is a part of a broader Commonwealth drive to increase shared prosperity among its 56 member countries, many of which are the world's fastest-growing economies.

The UK plans to fund a network to boost investment in small, climate-vulnerable Commonwealth countries, including India, focusing on technology, fashion, food and beverages, and jewelry. The initiative also aims to increase military and economic presence in the Indo-Pacific to support regional stability. Prime Minister Keir Starmer and Foreign Secretary David Lammy unveiled these measures during the Commonwealth Heads of Government Meeting (CHOGM), in Samoa.

The package of measures aimed at empowering young people, supporting democratic governance, human rights, the rule of law, and protecting vulnerable countries from climate change impacts. The measures include additional funding for trade advisors, tax advisor training, renewable energy opportunities, and promoting food security and economic growth in the Caribbean. The UK also supports the Commonwealth's work to support democratic governance and the rule of law, including election monitoring missions. Additionally, Commonwealth leaders agreed to hold inclusive conversations about reparations for the slave trade, stating that the time had come for such discussions.