ID :
135125
Thu, 07/29/2010 - 06:14
Auther :
Shortlink :
https://oananews.org//node/135125
The shortlink copeid
Call to further strengthen trade relationship between UK,India
Bangalore, Jul 28 (PTI) British Prime Minister David
Cameron Wednesday called for promoting investment to further
strengthen the trade relations between the India and Britain.
"India represents an enormous opportunity for British
companies. Already our trade relationship is worth 11.5
billion pounds a year. But I want us to go further," he told a
gathering at Infosys campus while underlining the purpose
behind his visit to the country.
India's plans to invest over USD 500 billion in
infrastructure, the 15 per cent annual growth in the retail
market and its growing mobile phone market spells a huge
business potential for British firms, he said.
"Indian companies employ 90,000 people in the UK. Many
more jobs in Britain exist thanks to activities of British
companies in India. Now I want to see thousands more jobs
created in Britain and of course in India through trade in the
months and years ahead. That is the core purpose of my visit."
"I want to take the relationship between India and
Britain to the next level. I want to make it stronger, wider
and deeper," he said.
Referring to Foreign Direct Investment, he said "we
should encourage more investment by Indian companies in
Britain ... and vice versa."
He called for reducing barriers to foreign investment in
banking, insurance, defence manufacturing and legal services
and to reap the benefits. "More investment in each others’
economies will be a vital boost to both countries", he said.
Some other steps he suggested to boost trade were
streamlining customs red tape to save time and money.
"EU-India trade is worth 50 billion pounds a year
already – but the possibility is there for dramatic expansion.
So let’s seize it. I am determined that we conclude an EU and
India Free Trade Agreement before the end of the year",
Cameron said.
"And it’s time to hammer out a global deal on trade too.
Agree on Doha, and do you know how much we would add to the
world economy? USD 170 billion. So what's holding us back?
"I would like us to complete the Doha Development Round
as it is – and that’s why, rightly, I'm pushing for it", he
said.
"Let's be clear – right now, negotiations are not moving.
So those of us who want passionately to see progress must now
make the case for trade at the tops of our voices", he said.
PTI
Cameron Wednesday called for promoting investment to further
strengthen the trade relations between the India and Britain.
"India represents an enormous opportunity for British
companies. Already our trade relationship is worth 11.5
billion pounds a year. But I want us to go further," he told a
gathering at Infosys campus while underlining the purpose
behind his visit to the country.
India's plans to invest over USD 500 billion in
infrastructure, the 15 per cent annual growth in the retail
market and its growing mobile phone market spells a huge
business potential for British firms, he said.
"Indian companies employ 90,000 people in the UK. Many
more jobs in Britain exist thanks to activities of British
companies in India. Now I want to see thousands more jobs
created in Britain and of course in India through trade in the
months and years ahead. That is the core purpose of my visit."
"I want to take the relationship between India and
Britain to the next level. I want to make it stronger, wider
and deeper," he said.
Referring to Foreign Direct Investment, he said "we
should encourage more investment by Indian companies in
Britain ... and vice versa."
He called for reducing barriers to foreign investment in
banking, insurance, defence manufacturing and legal services
and to reap the benefits. "More investment in each others’
economies will be a vital boost to both countries", he said.
Some other steps he suggested to boost trade were
streamlining customs red tape to save time and money.
"EU-India trade is worth 50 billion pounds a year
already – but the possibility is there for dramatic expansion.
So let’s seize it. I am determined that we conclude an EU and
India Free Trade Agreement before the end of the year",
Cameron said.
"And it’s time to hammer out a global deal on trade too.
Agree on Doha, and do you know how much we would add to the
world economy? USD 170 billion. So what's holding us back?
"I would like us to complete the Doha Development Round
as it is – and that’s why, rightly, I'm pushing for it", he
said.
"Let's be clear – right now, negotiations are not moving.
So those of us who want passionately to see progress must now
make the case for trade at the tops of our voices", he said.
PTI
