EY Organization Services, at the Wonderful British Festival, in Chennai launched by UK Organization Secretary, Vince Cable, during his visit to India
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BIS Press Office @Bispressoffice 11 Dec
@vincecable: EY at Wonderful British Fest Chennai specialist & enterprise services ten% UK exports @UKinIndia @bisgovuk pic.twitter.com/iiIFySPGLX
Organization Secretary Vince Cable, for the duration of his current 4 day trade visit to India (9-12 December 2013) he took a delegation of 25 British firms to India’s increasing regional cities.
The visit began in New Delhi where Dr Cable co-chaired the annual UK-India trade and financial committee with the Indian Union Minister for Commerce and Sector, Anand Sharma. Plans to develop company possibilities and strengthen current partnerships over the coming year to progress sophisticated engineering, education and skills and innovation by means of enterprise were the concentrate of the talks.
Dr Cable and the enterprise delegation went on to check out Coimbatore (Tuesday ten December 2013), Chennai (Wednesday 11 December 2013) and Bangalore (Thursday 12 December 2013) – every single quickly increasing regional cities with considerable development potential for UK firms. It was the minister’s first pay a visit to to Coimbatore, which is a single of the rapidly developing smaller cities in India.
Business Secretary Vince Cable stated:
"Economic recovery remains a central priority for the UK and our industrial approach is a essential element in giving businesses the self-confidence to invest. Trade has lagged in current years but I am delighted that UK exports to India have grown by some 20% this year.
UK firms are the biggest European investors in India and there is much more Indian investment in the UK than the rest of the EU combined, led by Tata.
We have often had a special partnership in between our countries and I am keen to push organization collaboration significantly further as we function towards doubling trade with India by 2015."
During the pay a visit to Dr Cable signed a new £180 million repayment guarantee deal underwritten by UK Export Finance (UKEF) and coordinated by HSBC which will help Indian organization Reliance Industries Limited to place up to 30 service and gear contracts with UK businesses for their Jamnagar and Dahej oil refineries.
The visit follows the announcement in the Autumn Statement that UKTI’s presence in India will be enhanced by investing £6 million in the next monetary year. This will boost the level of help for UK firms in India, and strengthen the proposition for Indian firms to invest in the UK.
In Chennai Dr Cable inaugurated the Great British Festival which showcases UK organizations in India and he took component in an interactive session with young entrepreneurs at the PSG STEP entrepreneurial park.
Mr Cable also visited G Kuppuswamy Naidu Memorial Hospital to discover well being partnerships and promote SME hyperlinks by participating in a video-conference in between UK and Indian SMEs during his pay a visit to to Tata Consultancy Solutions.
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