India, UK vow to strengthen global recovery, lift economic growth

India and United Kingdom on Tuesday acknowledged the importance of investment and vowed to strengthen the global recovery and lift economic growth

In the joint statement issued after the Seventh round of the UK-India Economic and Financial Dialogue (EFD), Union Finance Minister Arun Jaitley and U.K. Chancellor of Exchequer George Osborne emphasised the importance of investment, including in infrastructure and small and medium enterprises, to strengthen the global recovery and lift economic growth.

They welcomed the G20's work developing country-specific and collective actions on investment, including to promote long-term private sector investment, and to enhance the catalytic role of Multilateral Development Banks.

Both countries remain strong supporters of an ambitious EU-India Broad based Trade and Investment Agreement (BTIA) that stands to bring significant benefits to businesses and consumers on both sides. The UK looks forward to negotiations between India and EU on BTIA.