India Inc India Inc: Monday, 14 May 2018 08:34

UK celebrates $21.4bn in India


British companies including BP and Vodafone invested $21.4 billion in India over the past decade, beating French and German companies put together, the UK government highlighted.

Dominic Asquith, UK’s high commissioner to India, said the investments include multi-billion dollar deals inked by oil and gas company BP with Reliance Industries and telecom operator Vodafone’s investments in India.

He said: “There is a need for government-to-government engagement on agreeing to frameworks for new areas of collaboration as there are commonalities between UK’s industrial strategy and the Modi government’s priority areas.”

Asquith said the UK and India were working together in the areas of cybersecurity, financial technology and data management and security as the exchange of goods, services and people between the two countries intensified.

The UK was introducing a new category of visas to facilitate the entry of ‘exceptional talent’ from India.

The high commissioner said multiple partnerships were in the works between the two countries in areas of high-end technology such as the use of artificial intelligence-based applications to facilitate the setting up of over 5,000 medical diagnostic centres across India and enabling over 100,000 clinics to be connected through technology.

India Investment Journal’ has in-depth coverage on related topics.

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