Figure watch

UK8217;s investments
Indo-British trade is roughly in balance. According to figures provided by the British High Commission, exports to Britain in 1998 were greater than UK exports to India. And despite a slowdown in bilateral trade in 1998-99, the UK is currently India8217;s second largest trading partner, ahead of both Germany and Japan. It has a relative share of 5.7 per cent in India8217;s total foreign trade.

In terms of FDIt, Britain is the largest cumulative investor in India at nearly Acirc;pound; 3 billion and has the third largest share of new investment approvals since 1991 and is well ahead of Germany, Japan and France. The Indo-British Partnership was formed in 1993. According to the British High Commission, since the formation of the IBP, bilateral trade has grown by 22 per cent and over 1,000 new Indo-British JVs have been approved.