India, UK pledge to cooperate in SMEs

India and the United Kingdom have decided to increase cooperation between small and medium enterprises (SMEs), entrepreneurs and venture capitalists.

In a joint declaration signed at the end of the summit meeting between British Prime Minister Gordon Brown and his Indian counterpart Manmohan Singh yesterday, the two countries agreed to encourage business partnerships to tap the opportunities offered by India's rapid infrastructure growth.

He said the trade between two countries was already growing. It had doubled in the last five years and recorded 20 per cent annual growth during the last few years, he added.

Meanwhile, Brown today announced the opening of a new Research Councils UK (RCUK) office in India.