first-ever UK-India Investment Summit will be held in
London, during prime minister Manmohan Singh''s visit to
Britain. The visit is expected to boost flagging business
ties between the two countries, reports CNBC-TV18.
all the friendly activity between India and Britain, only
1 per cent of British trade is with India, and only 0.5
per cent of British FDI goes to India. Manmohan Singh
will lead a move to change that.
entire attention today is riveted on India. So this is
the opportunity for India to leverage. This is the image
of India, which has never been so good as an investment
destination as it is today. And that is why it is the
government''s job and the Prime Minister''s intention to
leverage that image of India," said Ashwini Kumar,
minister of state, commerce and industry.
businessmen believe that the time has finally come for
better business ties. Lord Karan Billimoria, co-chairman
of the Indo-British Roundtable said, "There''s a huge
amount of interest, increasing almost literally day by
day in India. The India story is now gathering enormous
momentum. And British businesses are now waking up, in
every field and in every sector."
first ever investment summit is being held with the expectation
that a businessman looks at a glass 99 per cent empty,
and sees opportunity. Opportunities have been hyped for
a while, but now there is reason for hope.
meeting in London will be their fifth in two-and-a-half
years, and possibly Tony Blair''s third and last India-UK
Summit. Comfort levels are high allowing Manmohan Singh
to candidly discuss the involvement of Pakistan''s ISI
and Pakistan based terror groups in the 7 / 11 Mumbai
leaders will also chat about common security initiatives,
such as rules for dealing with global funders of terrorism
and security arrangements for mega events like the Olympics,
which Britain will host in 2012 and Delhi''s Commonwealth
Games in 2010.
will bring them up to date with what we have experienced,
what we think and what we expect," said Foreign Secretary,
Shiv Shankar Menon.
Singh, who will receive an honorary degree from Cambridge
university during this trip, and will be in Helsinki on
bilateral will be followed by the 7th India-EU Summit.
years ago, India and EU became strategic partners. Last
year, they adopted an ambitious Joint Action Plan, which
provided the meat to the bone of the strategic partnership.
This year, in Helsinki, it''s time for action.
have recommended a broad based bilateral trade and investment
agreement between India and EU. It''s now for the political
leaders to take a decision on the contents of the report,"
added Shiv Shankar Menon.
Helsinki, the Prime Minister will also personally seek
support for the Indo-US nuclear deal from Finland, Norway,
Sweden, and other members of the Nuclear Suppliers Group.
The Nordic nations, unlike the UK, France and Germany,
have so far, not backed the deal openly, but are keeping
a close eye on the happenings in the US Congress and the
IAEA. A consensus in the NSG is vital for opening up nuclear
trade with India.
Prime Minister, accompanied by Commerce Minister Kamal
Nath, will spend much of his time with European and Indian
leaders of business and commerce. EU is India''s largest
trading partner, the UK, India''s fourth largest trading
partner. This focus on
enhancing trade and economic linkages with Europe is indicative
of the relatively smooth political relationship between
India and Europe.