India-Britain Roundtable discuss ways to enhance trade

Monday, 28 October 2002, 08:00 Hrs
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The progress made in the fields of trade and investment and science and technology were noted at the fifth India-Britain Roundtable which concluded Sunday at Neemrana in Rajasthan. The roundtable also identified new areas of cooperation between India and Britain, Swraj Paul, co-chair of session, told a press conference here Monday.

NEW DELHI: "It was quite clear that both India and Britain have a great deal to offer in new areas such as biotechnology and efforts will be made to ensure even closer contacts," Paul, who lead the British team at the discussions, said.

Planning Commission Deputy Chairman K.C. lead the Indian team at the roundtable.

It brought together opinion makers from India and Britain to explore ways to enhance trade ties between the two countries.

Paul said Indian companies were investing in large numbers in Britain, but more need to be done to attract more British companies to invest in India.

The roundtable also urged the Indian government to give "serious consideration" to recommendations of the steering committee on foreign direct investment that were presented to Prime Minister Atal Bihari Vajpayee in September.

"While policies are every encouraging, the implementation on them really frustrates the potential investors," Paul said, adding India will have to compete with other Asian countries like China to attract foreign investments.

The India-Britain Roundtable was established in April 2000 during then British foreign secretary Robin Cook's visit to India. The last roundtable was held in London in April.

Source: IANS

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