Indo-British network to provide venture capital: Brown

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New Delhi, Jan 20 (UNI) British Premier Gordon Brown today announced the setting up of an Indo-British network for providing venture capital to youth for starting business.

Taking part in a panel discussion at the Indian Institute of Technology (IIT), Delhi, Mr Brown said the network would promote entrepreneurship and ingenuity in the two countries.

The proposal would be put in place through an arrangement between the Angel Network in India and the Angel Association in Britain.

Mr Brown, who arrived here on a two-day visit primarily to attend the fourth India-UK annual summit, would hold talks with Prime Minister Manmohan Singh and other leaders tomorrow.

The panel discussion at IIT was attended by Commerce and Industry Minister Kamal Nath and Science and Technology Minister Kapil Sibal.

Mr Sibal said India and Britain could build an ''empire of ideas'' which was the need of the 21st century. Mr Kamal Nath said India was the largest producer of entrepreneurship in the world and this had resulted in the never-before growth trajectory.

CII President Sunil Bharti Mittal urged Mr Brown to help India to establish a linkage between the industry and the academia to create something magical on the lines of such coordination in the UK.

Shortly after his arrival, the British Prime Minister visited the Nehru Youth Centre to attend an event on women's empowerment.

He was received at the airport by Minister of State for Commerce Ashwini Kumar.

His talks with Dr Singh tomorrow would cover several issues, including climate change, counter-terrorism, higher education, science and technology and trade. Cooperation for strengthening economic linkages is also on the agenda.

Early tomorrow, he will deliver keynote address at a Business Summit which will be a major speech on international framework.

He will also launch a programme on sports collaboration for encouraging sports in developing countries.

Later in the afternoon, he will lead his country's delegation at the Fourth Indo-UK Summit with Dr Singh.

Mr Brown will be awarded. x x x Pl picking up from para one of DI 26 EXTERNAL-BRITISH-PM TWO NEW DELHI.


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