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'Britain committed to enhanced partnership with India'
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Venkata Vemuri | 30 Jun, 2010
British Business Secretary Vince Cable on Tuesday has assured Commerce Minister, Anand Sharma, that his country was committed to an "enhanced partnership" with India.
Sharma, who earlier in the day called on Prime Minister David Cameron, discussed bilateral issues with Cable as well as Universities Minister David Willetts.
The bilateral talks covered trade, investment, education, science and research.
Cable said: "The coalition government is committed to an enhanced partnership with India. I am delighted to welcome Sharma and to open a very positive dialogue on a range of important issues with the Indian government."
Calling for freeing up of trade for improved ties between the two countries, he said: "Bilateral trade is worth over 11 billion pounds a year, and India is already the second biggest foreign investor to the UK by number of projects. We must build on that. Freeing up trade is vital. We will push for a successful outcome to the Doha trade talks and bringing the EU-India free trade talks to a swift and positive conclusion."
Cable also greeted a delegation of top Indian business leaders from the Confederation of Indian Industry (CII) who are accompanying the Indian minister on his visit.
The delegates include Hari S. Bhartia, president of CII and managing director of Jubilant Organosys Ltd, B. Muthuraman, vice chairman of Tata Steel and CII vice President, and Vikram Mehta, chairman of Shell India.
The Britain-India trade stood at 11.5 billion pounds in 2009. Britain is the top European investor in India and India is the top Asian investor in Britain by a number of projects. There are more than 700 Indian companies with investments in Britain; about two-thirds are in the ICT and software sector. The stock of Foreign Direct Investment from India at the end of 2008 was 3.5 billion pounds.
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Import |
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US Dollar
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89.35 |
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