UK offers scope for Indian firms: British minister

Our Bureau

Pune, Oct 30: Around 60 per cent of Indian investments in Europe goes to the UK. Nearly a 100 Indian infotech, communications and technology companies have set up business in the UK with India emerging as the top 10 investors in that country. Mr Douglas Alexander, British minister of State for e-commerce and competitiveness said Indian IT professionals accounted for 60 per cent of the 18,000 work permits given in the UK.

Mr Alexander said the September 11 attack and the subsequent events would in no way affect the business ties between the two countries. It is business as usual between India and the UK and there were great opportunities for Indian IT companies, he indicated. "The UK is a preferred gateway into Europe for Indian companies and we want more of you to come over," he said.

Since the formation of the Indo-British Partnership in 1993, a total 1500 Indo-British JVs have been approved. UK-India bilateral trade of goods and services was growing at 68 per cent and was to the tune of œ4.9 billion in year 2000.

Mr Alexander announced that a British Business Group was being created in Pune. This is the third in the network with Groups in Delhi and Mumbai.