Category: United Kingdom
Indo-United Kingdom Economic Relation
India was a British colony for over 200 years till it achieved independence from the United Kingdom on August 15, 1947. India and UK’s trade relations have undergone a massive change from the colonial period. Once perceived as a less developed country, India had transformed itself into the fastest growing economies of the world currently. It is not hidden that India is world’s fourth largest economy in purchasing power parity terms and UK is the 4th in GDP dollar terms.
TRADE
Banks in The United Kingdom
While the United Kingdom has a very well-developed banking system with finance and related businesses making up a major part of the economy, there are relatively few banks in the UK. This is because the banking system in Britian has been highly-consolidated since the early 1900s.
Many other large economies and nations have a wide range of smaller, independent regional banks, but the UK has few.
United Kingdom – Fast Facts
The United Kingdom comes under high-income OECD economies as to the classification made by the World Bank on the basis of income and region for the year 2006.
The United Kingdom is one among the top ten largest economies over the world and second largest in Europe. The economy of the country is more stable in terms of its growth rate. Services sector plays an important role followed by the industries.
