India becomes third largest investor in UK

Kolkata, Jul 14 (UNI) As India has emerged as the third largest foreign investor in the UK with a total investment of 1.02 billion Pound, a large number of British companies have now evinced keen interest for joint venture in India, including those in the East, British Deputy High Commissioner to Eastern India Simon Wilson here today said.

Speaking to newsmen after participating in an interactive sesson with members of the Bengal National Chamber of Commerce and Industry (BNCCI), Mr Wilson said with Indian exports to the UK also rising by a record 30 per cent, at least five major British companies including the Newby Teas, Marks and Spencer and the HSBC had made significant investment in India during the past few months in order to further expand their business.

Referring to the huge scope for British companies to flourish in India in different sectors, the country's Deputy High Commissioner said the areas included the financial sector, supply of mining equipment and machinery, power and other infrastructure development programme.

About the scope of the Eastern sector in this regard, Mr Winlson, a career diplomat for 30 years who had taken over the new assignment only a few months ago since the state was found to be very rich in mineral reserves, Information Technology and Computer Science several British companies in these sectors might come and invest here.

" Moreover, Kolkata has huge scope in service sector too, " he said.

Showering heaps of praise on Chief Minister Buddhadeb Bhattacherjee for bringing back West Bengal into the industrial map of the country, Mr Wilson said recognising its re-emergence as a favourable destination, a 25-member high power business delegation from Northern Ireland under the leadership of its Industry Minister will arrive here in September.

Later on two more high power British delegations will visit the city not only to explore business opportunities in Eastern India but also that of West Bengal in particular, he said.

Earlier, welcoming the guest, BNCCI president Nayantara PalChowdhury recalled the close socio-cultural and economic ties between the two countries and hoped more opportunities of joint ventures would come in Eastern India too.

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