Uk Keen On Boosting Trade With India

Britain is keen on strengthening business with India in the fields of food processing, agro industry and power. This was highlighted by British High Commissioner David Gore-Booth at a seminar on `Indo-British Business Collaboration here yesterday.

A business delegation from the British High Commission, industrialists from the northern region and senior officers of the Punjab and Haryana government also participated in the seminar which was jointly organised by the Confederation of Indian Industry (CII) and the British High Commission.

Gore-Booth said Britain has fixed a target of increasing bilateral trade between the two countries to 5 billion pounds by 2000. He added, We are also expecting that the British investment in India will increase to 5 billion pounds by 2,000.

 

Gore-Booth said that trade between the two countries has shown an uptrend during the past few years, particularly after India started the process of economic reforms and liberalisation.

He said, By November 1997, Britains exports to India increased by 45 per cent over 1992 and Indias exports to Britain almost doubled. On the success of the Indo-British Partnership programme he said, During this period, there have been 700 joint ventures between Indian and British companies in India and 60 in Britain.

Gore-Booth said, The Indo-British partnership has proved a great success. Many other countries have sought to copy the programme. The programme of seminars and top-level business interactions have remained many business leaders of the strong links between India and Britain and have also awakened them to the new opportunities that exist for further strengthening the links.

Speaking about improving trade and business opportunities in Punjab, Gore-Booth said, Special links exist between Punjab and Britain. In the coming months, Britains interest in Punjab will grow. During the year, several British companies will tour Punjab and Haryana.

According to Gore-Booth, the British Council will set up its library in Chandigarh by the 1998-end. He also highlighted the role of the British Council in strengthening cultural links between India and Britain. Speaking on the occasion, Dominic Scott, head of the information and education promotion of the British Council focused on projects of the council in Punjab and Chandigarh during the past couple of months. The British Council is collaborating with the Punjab Health Systems Corporation to improve healthcare in the state and is also associating with the Punjab government in setting up a new technical university at Jalandhar.

Rakesh Mittal of the CII said Punjab should become the destination for investment by the British companies, particularly in the area of infrastructure development, especially the power sector.