'Britain keen to diversify trade with India'

'Britain keen to diversify trade with India' IANS

Friday, September 12, 2003

CHANDIGRAH: Britain is keen to diversify trade ties with India as it is set to be an important economic power in the 21st century, said a British diplomat.

Speaking at an interactive meet organised here by the PHD Chamber of Commerce and Industry (PHDCCI) Thursday, Stephen Lillie, economic and commercial counsellor in the British high commission, said: "A lot of things are in place in terms of infrastructure to make (India) an important economic power in the 21st century.

"In the past 10 years, bilateral trade has almost doubled to 5 billion pounds. In goods, it has increased by over 16.5 percent in the first half of this year." Lillie said Britain was now one of the largest cumulative investors in India.

"Similarly, India is an increasingly important investor in Britain. There are over 450 Indian companies in Britain, around 340 of which are in the knowledge-based sector. India is now the eighth largest investor in Britain in terms of number of projects," he said.

"Linked to this has been the steady growth in movement of Indian professionals to Britain, especially in high skill areas such as IT, medicine and education."

The northern part of India, with a strong and diversified agriculture and industrial base, had an important place in the Indian economy. Many of Britain's trade priorities were shared with this region, the biggest being in the automotive sector, agri-business, environment, recreation and leisure, healthcare and education.

Satish Bagrodia, the chamber's international affairs committee chairman, said Britain ranked as India's second largest investment and trading partner.

Some potential areas for joint ventures were IT, telecommunications, chemicals, plastics, financial services, agro and food processing, infrastructure, environment, oil and gas, and auto ancillaries, he noted.

Bagrodia said: "In 2002-2003, Britain invested $224 million in India.

"There is a need to promote strategic alliances between small and medium enterprises of both countries. Britain should take advantage of India's strategic location to tap markets in the Middle East, Africa, Southeast Asia and Asia Pacific.

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I see trade, I see viceroys, I see colonialism, I see missionaries ....

Reply to
harmony

I see the unneeded railroads and the steam powered trains shreiking the colonial shrieks.

Reply to
harmony

I see british armymen on train standing guard. I see trains unloading wealth looted from hindus into ships. I see ships sailing away with loot. I mow see hindus asking british army to stop it, but getting shot at in turn. I now see hindus deprived of their wealth. Now they are starving. I see brit newspapers laughing at hindus calling them malnourished, laughing at hindu gods for leaving them destitute and poor.

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harmony

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