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Gujarat, UK India Business Council sign MoU to strengthen state's industrial growth

Prashasti Awasthi Mumbai | Updated on July 29, 2020 Published on July 29, 2020

The United Kingdom India Business Council signed a Memorandum of Understanding (MoU) with Industrial Extension Bureau (iNDEXTb), Industries and Mines Department, Government of Gujarat.

The MoU is the initiation of a collaborative partnership between the UKIBC and Government of Gujarat will help to boost business and industrial development in the state, as per the UKIBC official release.

It will also aim to enhance the business environment proactively and strengthen collaboration with British businesses in Gujarat, the official release noted.

The MoU was signed at a virtual roundtable by Neelam Rani, Managing Director, Industrial Extension Bureau (iNDEXTb), Government of Gujarat, and Kevin McCole, Managing Director, UKIBC.

Speaking on the occasion, Kevin McCole, Managing Director, UKIBC said in the official release: “I am delighted to be signing this MoU today, deepening the UKIBC partnership with Gujarat, which began in 2013 when we were first Partner Organisation at Vibrant Gujarat and look forward to having a similar alliance for Vibrant Gujarat 2021. We are therefore building on a position of strength.

He added: “There is no doubt that Gujarat is one the most attractive investment destinations in India, most recently evidenced by HSBC announcing their expansion into GIFT - the Gujarat International Fin-Tech City.

He believes that collaborations like the one being formalised today are crucial at this time while the world is responding and recovering from the COVID-19 pandemic.

With collaboration between countries and between businesses and governments vital to ensure economic and social resilience, there is vast potential for the UK and Gujarat partnership,” he further added.

UKIBC mentioned that it was pleasing to hear from the State Government of Gujarat on how they are evolving their policies and building a stronger business eco-system system to support existing businesses as well as initiatives to attract investment into the state.

Neelam Rani, Managing Director, iNDEXTb, Government of Gujarat said, “Gujarat is greatly contributing towards a prosperous and resilient India through stronger economic capacities. The collaboration between Gujarat and UK can further strengthen the endeavour towards building an ‘Atmanirbhar Bharat’.”

UKIBC mentioned that it would also support interactions between UK businesses and the State Government to provide direct feedback from a business on the ease of doing business, market access, and other relevant issues. It believes that this can further bolster business confidence and enhance the operating environment for doing business.

These interactions will take the form of dialogues, annual ministerial meetings, and various delegation visits, UKIBC noted.

UKIBC stated that the Council would work towards future investment opportunities, strengthening its relationship with state governments, supporting its members in addressing their key tasks, and smoothing investor interactions in different markets in India.

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Published on July 29, 2020
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