A former banker as a consultant to attract Indian business to london

London, July 31 (UNI) The City of London has reportedly chosen a former merchant banker and special adviser to John Major's Downing Street policy unit as a senior consultant to a new office in Mumbai aimed at attracting Indian business to London.

According to a report in The Times, Alan Rosling, a director of Tata, the Indian industrial conglomerate, will chair an advisory board that will assist the new venture, which follows three offices set up in China by the City authority.

The new Mumbai office is to open by the end of the year, and a local manager has been appointed. Its job will be to persuade Indian enterprises to use UK firms and the City of London for their financial needs.

Michael Snyder, chairman of policy and resources for the City authority, said that the office was designed to promote London as a world-class financial centre offering capital- raising, insurance, asset management, infrastructure finance and consultancy to the growing Indian economy, as well as the various London exchanges.

A number of Indian companies have floated in London in recent months, but there is still concern over the threat from rival American markets.

The Multi Commodity Exchange of India, which is based in Mumbai, and Euronext.liffe, the London financial futures market, will today announce that they have signed a licensing agreement enabling the exchange to use London's futures prices while making a local market in coffee and sugar futures contracts. The two have also signed a memorandum of understanding to look at other areas of potential co-operation.

UNI XC SY HS1335