Cameron for more capital flows & less trade barriers

He also said that besides material trade, there was a lot of wealth in human capital

UK Prime Minister David Cameron, who made his third visit here in as many years, met Prime Minister Manmohan Singh on Thursday, during which the main focus was on trade ties, with the British leader maintaining there has been “extraordinary progress” on trade and investment since his first trip here.

Cameron arrived here on Wednesday night, on his way to Colombo to attend the Commonwealth Heads of Government Meeting.

The two leaders also shared views on Sri Lanka. The UK Prime Minister said he respected Singh’s decision not to attend the meet.

Cameron said the proposed free-trade agreement  between the nations needs to progress. “The JLR (Tata Motors' acquisition of the British iconic brand) is the biggest success story where an Indian investment has been so encouraging. More capital flows will lead to greater trade flows between the two countries. What is important is that trade barriers should be reduced and that will help.”

He said economic openness by both countries should help in generating wealth. “It is not a zero-sum game. India's gain is not Britain's loss. There is a need to reduce tariffs.”

Cameron later visited West Bengal, where he met Chief Minister Mamata Banerjee and assured her of British investment in the state. A source said industrialists from the UK would visit the state. The UK PM also invited the chief minister to the UK.  

During an interaction at IIM-Calcutta, Cameron said the United Nations should include India in the Security Council as a permanent member.