INDIAN investment in the UK is at an all-time high. In the first half of 2007, Tata-Corus ($9 b) and UB-Whyte and Mackay (£ 600 m) deals alone pushed India onto the big league of investors in the UK. This time UK government is keen on investors from Punjab and is ready to offer varied incentives and packages to the entrepreneurs. For the same purpose, UK Trade & Investment team that will be accompanied by representatives from four Regional Development Agencies - Think London, One North East, British Midlands and Invest Northern Ireland — will be visiting the state and meeting the industry representatives.
Jane Owen, director, UK Trade & Investment, India, says: “The UK is a vibrant, diversified economy that offers opportunities for companies to prosper and realise their international potential. The government is keen to further boost its business relations with Punjab’s business community The entrepreneurial characteristic of the Punjabi community is well known - in the UK we recognize it and celebrate it. Therefore, it is only natural for the country to enhance its business relations with the next generation of entrepreneurs in Punjab, across all sectors.”
With UK having a beneficial tax regime, it’s felt that by 2016, the country will be home to the world’s largest concentration of $ 1 million households, i.e. 1 in 4. UK is India’s second largest trade partner, accounting for 5% of India’s total foreign trade in goods and the bilateral trade between India and the country is set to grow further.
“If you have an exciting business idea, or are keen to expand your business overseas, UK Trade & Investment experts will assist you through the journey. Our network of experts will help you reduce cost, time and risk involved in selecting the right partner or location in the UK,” adds Mr Jane Owen.
The seminars, scheduled for 29 August in Chandigarh, and 30 August in Ludhiana, are being supported by the Confederation of Indian Industry (CII) and PHD Chamber of Commerce & Industry (PHDCCI). In 2006-2007 British economy grew faster than all the other G7 economies - stronger than America and Japan. Over 65% of Fortune 500 companies are represented in the UK.
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