India a priority market for trade

SURAT, Nov 18: British Deputy High Commissioner Michael Bates said the British government had identified India as a priority market for trad...

SURAT, Nov 18: British Deputy High Commissioner Michael Bates said the British government had identified India as a priority market for trade promotion.

Addressing members of the Southern Gujarat Chamber of Commerce and Industry SGCCI here on Wednesday, Bates said the Export Forum, set up by the British government to identify markets and promote trade, had put India on the priority list. 8220;India is one of the 12 priority markets identified by the Export Forum as an investment partner,8221; he said.

Despite a downturn in trade relations, Britain still remains the third largest trade partner, he said, adding since 1995 British investment in India had increased 15 fold. He said as many as 850 Indo-British joint venture had been set up in India in the duration, while Indian investment in UK had been 8220;very limited8221;.

Stating that his main interest was to help British companies in India, he said UK was a good country to invest. 8220;UK is a vibrant trading partner, with a strong science and technology base, a competitive and deregulated market providing the best infrastructure, which makes it an investment-friendly country,8221; he said. 8220;All those willing to invest in UK, let me tell them that the British government treats foreign companies as their own. It is very easy to set up companies in UK8221;, Bates told the gathering.

Earlier in the day, Bates who was accompanied by a group of senior officials of the British High Commission, Mumbai visited Hazira and held talks with officials of 30-odd companies. 8220;I have developed a database of what Indian companies are doing, what they are looking forward to and the opportunities available,8221; he said.

Welcoming Bates, SGCCI president Rajendra Chokhawala, said despite global recession, China and India were doing well in the developing countries. In India, Gujarat is the most preferred state for investment, specially Suratin South Gujarat because of industrial peace, proximity to Mumbai, higher purchasing power of the people and zero unemployment rate, he said.

Chokhawala also listed out a number of areas, including the proposedMumbai-Ahmedabad Express Highway, river drive and fun parks along the river Tapi, airport 100 per cent foreign equity possible, the Magdalla port, ship-building, food processing, chemical, and jari industry and gas appliances, where British companies could invest.