UK trade team to visit India next week

In an effort to give further boost to the burgeoning trade and investment between the two countries, a high-level British delegation, led by Trade Minister Ian Pearson, will visit India next week.

The delegation will be here for four days from January 16 before proceeding to Sri Lanka. It is the British government's third trade and investment visit to India in a year and will be the first visit to Sri Lanka since the new Mahinda Rajapakse government assumed office in November.

Pearson will be accompanied by a 25-member delegation, including Indo-British Partnership Network Chairman Karan Bilimoria. Besides, the delegation includes senior representatives from companies such as Standard Chartered bank, Glaxosmithkline, Virgin Atlantic and the London Stock Exchange.

"The relationship between Britain and India is a strong and special one. The potential to significantly increase trade, business and investment, both ways, between our great nations is enormous," Bilimoria said.

While British investors are keen to invest in India, the UK has become one of the main beneficiaries of the increased desire by Indian businesses to expand abroad.

Indian companies were behind 36 inward investment projects in the UK in 2004-05, compared with 28 in 2003-04 and 19 in 2002-03.

The record puts India in 8th position in terms of countries announcing investment deals in the UK. That puts India behind the US and Germany but in level with China and ahead of Italy and the Netherlands.