LUDHIANA: The Confederation of Indian Industry (CII) organized an interaction with Sir Dominic Asquith KCMG, British high commissioner to India, on Thursday at Ludhiana. Addressing the meeting, Sir Dominic Asquith KCMG, said UK would promote trade and investment both ways between UK and India, and that in spite of the recent election result, India remains a top priority. Post-Brexit, UK is more global and accessible and the major areas of cooperation which it would lend to India are in the areas of technology, providing expertise, and raising capital, as London is the financial capital of the world. Recently, extending its co-operation with the Government of Punjab, they had signed an MoU on skill development, and UK-based firm Aecom is assisting Ludhiana become a Smart City.
Rakesh Bharti Mittal, president-designate, CII, & vice-chairman, Bharti Enterprises, said UK is India’s third largest investor, with an FDI stock of $23 billion (8% of total FDI stock) invested in India between April 2000 and March 2016. India, with its strong economic fundamentals and a large domestic market, high proportion of skilled working-age population, and high growth rate should be of particular interest for the UK, as it strives for stronger role at the global stage post-Brexit. CII is also deeply engaged in providing critical policy input into official dialogues, such as India-UK Joint Economic and Trade Committee (Jetco) and other platforms.
Speaking on the occasion, Sachit Jain, deputy chairman, CII Northern Region and VC & MD, Vardhaman Special Steels, said India & UK have more potential for greater collaborations, especially in hi-tech (ICT, life sciences, nano-technology etc), research, advanced manufacturing, infrastructure, energy, healthcare, agricultural products and processed foods, higher education, agri-business, automotive, and other service sectors, and that British companies and agencies could help local authorities develop and maintain civic and administrative infrastructure, which would be a win-win situation for both UK companies. UK and Punjab share a special relationship. Many of our Punjabi brethren are settled in the UK, and contribute immensely to social and economic development of British society.
Other prominent businessmen who attended the programme included Gaurav Munjal, Neeraj Satija, Manjinder Singh Sachdeva, and Sarvjit Singh Samra.