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Referring to the immediate foreign policy concerns, the minister said that the UK was very much concerned with a spread of terror by ISIS in Iraq and also expressed deep sympathy for 46 Indian nurses who were just released. He announced that UK will take up the Iraq issue and Russian action in Ukrane during his meeting with his Indian counterpart.
Pointing on the scope for joint work on foreign policy front, Hague said, "We want to work with India to ensure growing global systemic instability does not become worse." Further, he reiterated UK's support for permanent seat for India in United Nations Security Council. As India grows it will have to carry more responsibility in the global affairs, he said.
George Osborne, Chancellor of the Exchequer, said there is huge turnaround in sentiments about economic prospects of India in last seven weeks. Now the challenge is to turn the sentiments into conncrete plan to push the growth by newly elected Modi government. "Good days are coming for British India relations. The thrust will be on bilateral trade and jobs."
Osborne said he would meet Prime Minister Narendra Modi and finance minister Arun Jaitley to take forward bilateral ties. He said the UK government will suppport efforts to develop rupee to become international curency and also announced the rupee denominated export credit finance to give boost to bilatral trade.
Osborne today met the RBI Governor Raghuram Rajan at central bank headquarters.
Further, Osborne said that the Indian auto major M&M will invest 20 million pounds in UK to produce electric cars, which will be rolled out next year.
Good days are coming
UK's chancellor of Exchequer George Osborne said good days are coming for the India-Britain relationship -- the investment in each other’s economies, bilateral trade and the financial partnership.
Prime Minister Modi is seeking more investment in India’s economy - and I want British companies to provide it, and the British government to support it.
In the last couple of days MBDA, UK-based firm has bagged £250 million contract to supply short range Air-to-Air missile to Indian Air Force. It is expected to create 240 jobs back-home in United Kingdom.
UK will set out ambitious plans to encourage more British investment and expertise in Indian infrastructure. It will be backed by innovative use of export finance to support Indian infrastructure projects like the Bangalore Mumbai Economic Corridor.
On assistance to make rupee stronger
Britain has been a key partner of China in the internationalisation of the renminbi. Now, UK wants to see how it can help you develop the rupee into the great international currency.
Tomorrow I will set out details of the new guarantees we will offer for rupee denominated export finance as a step on that exciting journey.
