The Hindu Business Line : Brown hopeful that agreements worth £10 b will be signed soon

New Delhi, Jan. 21 The British Prime Minister, Mr Gordon Brown on Monday expressed the hope that deals worth £10 billion, currently being negotiated between India and the UK, would be signed in the coming months.

Addressing a joint press conference with Dr Manmohan Singh, the British Prime Minister pointed out that trade relations between India and the UK had grown a 100 per cent in the past 15 years while in the past five years there had been a 20 per cent increase almost every year. The visiting dignitary not only called on Indian companies to invest in the UK but also asked British companies to look at opportunities in India.

Areas of interest

Addressing the conference after having discussions with Mr Brown, the Indian Prime Minister said the two countries have identified science and technology, education and trade and investment as priority areas for building relations between them.

A joint statement issued at the conclusion Mr Brown’s two-day visit, points out that the UK is the third largest cumulative investor in India while India has emerged as one of the largest investors in the UK, including several major acquisitions, reflecting the maturing nature of the bilateral economic partnership. The joint statement adds that UK acknowledged the potential for greater collaboration especially in hi-tech , research, advanced manufacturing, infrastructure, energy, healthcare, agriculture products and processed food and other services.

Doha negotiations

In the statement, both countries strongly supported an early, fair and ambitious outcome of the Doha round of multilateral trade negotiations. “A successful conclusion of the Doha Agenda must focus on the development dimension. Existing differences among members have to be overcome for the benefit of all,” the joint statement adds.

India and the UK also agreed to take forward proposals for the establishment of a capacity building programme here for public-private partnership in infrastructure with the support of the UK.

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