Trade between India and UK is growing, says minister.
The United Kingdom is increasingly looking at enhancing business relations with India and companies here.
Vince Cable, UK’s secretary of state for business, innovation and skills, says economic recovery remains a central priority for the UK, “and our industrial strategy is a key element in giving businesses the confidence to invest.”
On a visit to India and Bangalore, the minister says trade has lagged in recent years, “but I am delighted that exports from UK to India have grown this year. UK firms are the largest European investors in India, and there is more Indian investment in the UK, than the rest of the EU combined,” says Cable, adding that the delegation accompanying him, consisting of businesses, is keen to push business collaboration further between the two countries.
Delegations from the UK are becoming more and more common in the city, with ministers and businessmen actively interacting with their counterparts here to promote trade and investment.
Loy Lobo, director, strategy and innovation, BT healthcare, who is part of the UK delegation, says a lot of collaboration can be undertaken on areas like access to health.
“Lot of Indian doctors are trained in the UK. Between UK and India, various models of healthcare can be created. There is opportunity for UK companies to come here and for Indian firms to establish presence there,” says Lobo.
UK is also collaborating on the 1,000km long Bangalore-Mumbai industrial corridor. UK experts say they can provide expertise in infrastructure, architecture, construction, maintenance and energy.
Sometime ago, when interacting with Bangalore businesses, Ian Felton, British Deputy High Commissioner, had said they are looking at expanding business presence in Northern Karnataka.
Currently, there is a fair bit of British presence in Mysore, Mangalore, Shimoga, and Bangalore.
“Places like Hubli, Dharwad seem interesting. While sectors like aerospace, manufacturing are where Britain and Bangalore can collaborate,” Felton had said.
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