Ratan Tata on UK
22 March 2006
Ratan Tata, chairman, Tata Group, will be a part of an elite 12-member body of global corporate leaders who will advise the UK Treasury on ways to improve the UK''s economic competitiveness.
The formation of this body, called the International Business Advisory Council, was announced by Gordon Brown, chancellor of the exchequer (the equivalent of the finance minister of the UK).
Among the other global business leaders on this are Microsoft founder and chief Bill Gates and Sir Ka-Shing Li, Hutchison Whampoa, James Wolfensohn, former president of the World Bank. Brown said the idea behind constituting this council was to ensure that the UK remained among the key global locations for high value, value-added activity.
The Treasury has resorted to the move to acquire guidance on facing up to the economic challenge to it posed by China and India. Brown says the panel would advise the country''s policy-makers on how Britain should face the challenges posed by globalisation and exploit its strengths in skills, innovation and infrastructure.
council, will have an initial tenure of three years and
its work will run initially until 2009. It will every
year at 11 Downing Street, the chancellor''s home.