Economy

UK businesses urged to look at emerging Indian cities

S Bridget Leena Chennai | Updated on November 20, 2017 Published on March 18, 2011

Lord Stephen Green (right), Minister for Trade and Investment, UK, and Mr Mike Nithavrianakis, Deputy High Commissioner, the British Deputy High Commission, Chennai, at a press conference, in Chennai on Friday. – Bijoy Ghosh   -  Business Line



The UK and India have shared interest in getting the Doha round completed as it would not only help both the economies but also improve the world GDP by $160 billion, said, Lord Green, UK Minister for Trade and Investment.

Interacting with media persons, Mr Green said that negotiations on Free Trade Agreement between India and European Union were still going on, as sensitive areas need to be ironed out.

FTA does not mean ‘zero sum game' but results in the benefit the countries involved, he said. The sensitive issue for India is opening up its service sector for multinational companies while in this case of EU it is agriculture and textile the major ones among others.

Mr Green, said, “So far Britain has taken India's growth for granted but now the UK must take every opportunity to boost trade and investment between both countries.” Talking about bilateral trade which is about £11.5 billion in 2009 (about Rs 80,000 crore), Mr Green said it should double in the next five years.

He highlighted the need to embrace the vast opportunities to build on the vibrant, two-way relationship between the two countries.

Delhi, Mumbai, Chennai, Bengalaru are already established base for business in India and beyond but many of India's emerging cities have often been overlooked in favour of more familiar cities. The Minister said that UK companies should delve beyond the traditional business hubs and seek out new opportunities in these rapidly expanding cities.

These cities are Coimbatore, Mangalore, Vadodara, Visakhapatnam, Thiruvananthapuram, Kakinada, Kochi, Madurai, Jaipur among other cities.

A lot of research work is taking place between the UK universities and Indian hospitals and medical equipment manufacturers in areas of diabetes, eye care and diagnostics, said Mr Mike Nithavrianakis, British Deputy High Commissioner based in Chennai.

Mr Nithavrianakis said that UK is urging youngsters pursuing medical education and training in his country to explore opportunities in India.

Published on March 18, 2011
null
This article is closed for comments.
Please Email the Editor