New Delhi, Jun 15: To augment trade and investment ties between India and the United Kingdom, a high-powered business delegation of the CII will visit the European Union country next week. The CII CEO's Mission to the United Kingdom, a two-day visit starting June 19, will be led by its President K V Kamath, also Managing Director and CEO of the country's largest private sector bank ICICI Bank Ltd.
The delegation will explore opportunities for catalysing bilateral economic relationship between the two countries, besides sharing India growth story and discussing common concerns on economic security. The objective of the mission is to explore opportunities for innovation in manufacturing, education and healthcare services and address issues faced by both British and Indian investors in each other's markets.
''This year's Mission will present to the British Industry and Government Officials, the Indian Industry's perspective on the changing global economic scenario and opportunities for both the countries to address these growing concerns,'' CII Director General Chandrajit Banerjee said in a statement.
The UK and India are critical for each other. One of the ways that CII reflects this is by taking the annual CII CEOs Mission to the UK, led traditionally by the CII President, he said.
The opening up of the Indian economy has seen a shift in the bilateral economic ties between the two countries. India, which has always been a net importer from the UK, has become a net exporter to the European Union country since 2004-05 and its trade surplus with the UK has since then increased to 785 million euros.
After Mauritius and the US, the UK is the third largest investor in India during August 1991-December 2006.
The CII CEO's Mission 2007 had affirmed that India and the UK are Strategic Partners and this partnership is ensconced in the shared values of respect for democracy, freedom, human rights, pluralism and rule of law.
The 2008 annual CII CEO's Mission to the UK is aimed at taking this relationship forward.
Besides the CEOs delegation, CII is also organising the CII Conference on ''Achieving 10 per cent GDP Growth'' where Commerce Minister Kamal Nath, Cobra Beer Ltd Chairman Lord Karan Bilimoria, Minister of State for Borders and Immigration and Minister for the West Midlands Rt Hon Liam Byrne, and Business, Enterprise and Regulatory Reform Select Committee Chairman Peter Luff will be among the key speakers.