UK to push for easing retail FDI norms

Less than two months after Britain’s Chancellor of the Exchequer and then Foreign Secretary led the country’s first delegation to India since the general election, the country’s Deputy Prime Minister is set to visit the country in late August, leading a delegation focused on the aerospace, retail and education sectors.

“Prime Minister Modi has been clear as he can be that he wants to sweep away some of the impediments to further growth and we are very keen to enter into a dialogue with him on how sectors – not just retail – but others too could be further liberalised,” said Clegg at a reception on Tuesday.

While Clegg is yet to announce the dates of his visit and the members of his delegation he said it would be the “first and largest business delegation of its kind” since the new government. “We want to build on trading relationships and reach out to the administration and seek out new opportunities.” Chancellor George Osborne and Foreign Secretary William Hague met Prime Minister Narendra Modi ahead of the Budget in Delhi. Britain has long stressed its eagerness to be partner in the planned Bangalore Mumbai Economic Corridor. During his visit, Osborne announced a £1-billion credit line for companies involved in infrastructure projects in India.

Immigration system

Clegg said that during his visit he hoped to also dispel misgivings about Britain’s changing immigration system.