Pune: The United Kingdom (UK) can play a huge role in India’s economic growth story, as it can act as a funnel for international capital flowing from rest of the world into the South Asian economy, an official said.
“I think this country (India) is on the verge of the most extraordinary decade in the history, in economic terms. But you are going to need a lot of capital, a lot of liquidity. The one place that can provide that is the UK…,” Lord Dominic Johnson, CBE, Minister of State in the Department for Business and Trade in the UK said on Friday. He was speaking on the sidelines of the inauguration of the new British Trade Office in the city.
Johnson added that India too can also play a significant part in its economic progress by investing in advanced manufacturing and information technology services sector of the UK.
On the status of the free trade agreement negotiations, Johnson said that while more trade between the two countries is better, negotiations for such deals usually requires time. “I am excited to see the optimism of the Indian companies to invest in the UK,” he added. The minister’s visit will help build momentum for the ongoing trade agreement negotiations between the two countries, which saw round nine of negotiations kick off earlier this week, a statement from the British Trade Office stated.
“The companies that I have been talking to are designing new forms of artificial intelligence (AI) which are going to change lives. They are making vaccines and have been playing a key role saving lives through out the pandemic,” the British minister of state said.
During his visit, the minister met the business community, including potential and existing UK investors. Representatives of companies like the Serum Institute of India, Bharat Forge, and Zensar Technologies among others held meetings with Johnson.
The UK-India investment partnership has so far led to 28-billion-pound sterling being invested in each other’s economies, the statement from the British trade Office stated.


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