labels: economy - general, trade
Gordon Brown commences India visit with trade wish listnews
18 January 2007

India has asked Britain to allow Indian banks easier access to licences to operate in the UK as Britain''s chancellor of the exchequer Gordon Brown commenced a three-day visit in pursuit of stronger Indo-British ties.

Brown, who is widely expected to take over from prime minister Tony Blair in July, to push for greater access for UK businesses in the Indian market and Britain to be the most preferred location for Indian companies setting up businesses abroad.

British companies are keen for an increase in the cap on FDI in the insurance sector to at least 49 per cent from 26 per cent at present — a move being opposed tooth-and-nail by the Left parties that support the ruling UPA.

Brown said the Indian government had assured him that all companies would be treated equally when takeover bids are being considered, referring to Vodafone Plc''s interest Hutchison Essar.

The two sides also promised to strengthen co-operation on security issues and tackle financing of terrorist activities.


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Gordon Brown commences India visit with trade wish list