'Indo-UK business ties prospering'

Indo-UK business ties are becoming a two-way affair, with Indian companies contributing to growth in British industry, British High Commissioner to India Sir Michael Arthur said today.

"The Indo-British business tie has now become a two-way flow as Indian companies are now contributing to the growth of business in the UK," Arthur said.

While there was significant reinvestment by British companies like the Vesuvius Group in India, "UK has also become one of the top investment choices for Indian businessmen," the high commissioner said.

Stating that the UK was the third largest investor in India, he said "our share of investment approvals since 1990-91 comprising nearly 2,500 joint ventures is about 10 per cent, well ahead of countries like Germany, Japan and France."

In the UK, he said, "last year, we welcomed 36 new Indian projects. Some of these were companies based in West Bengal."

The high commissioner also pointed out the contribution of DFID in helping the state spruce up its social infrastructure, like the recent healthcare development initiative inaugurated by Chief Minister Buddhadeb Bhattacharjee which was supported by DFID with grant aid.