UK seeks strong links with India in IT

PUNE: India’s largest trading partner after the US, the UK accounted for

5.7 per cent of India’s total foreign trade in goods in 2000-01. And more than

1500 new Indo-British joint ventures have been approved since 1993. UK now seeks

increased cooperation between the two nations by inviting more companies to come

over to Britain and begin operations.

This was the mood that emanated from Douglas Alexander, British minister of

state for e-commerce and competitiveness whose first stop was Pune. The British

minister earlier visited Mahindra British Telecom Ltd. and the Pune University

to understand its strengths in IT.

"India’s strengths in the ICT sectors are well known around the world.

But given my ministerial responsibilities, it is important that I see for myself

what the strengths are. UK is the preferred gateway to Europe for Indian

companies working in the IT sector. We want more of you to come over," said

Alexander. According to the minister, more than 60 per cent of Indian

investments in Europe were in the UK. Of these 50 per cent were in the software

sector. Stating that the UK was the largest e-commerce market in Europe, he said

that Indian companies would get plenty of opportunities to promote business.

More than 200 companies had invested in the UK. Of these 100 were in the IC

sector, he said. Similarly, there were 100 odd UK companies who are currently in

the process of investing in India.

Britain is also relaxing norms to attract Indian companies. Alexander

explained that significant steps had been taken in order to simplify procedures.

All that companies needed to do was present a sound business plan and the permit

would be given in two weeks. The work permit regime had also been made more

flexible. Individuals were now allowed to switch firms on the same work permit

in the UK. The validity of work permits had also been extended. At least 18,000

work permits had been issued to Indians. Of these, 11,500 permits were given to

IT professionals.

Alexander also added that India ranked among the top 10 foreign countries to

invest in the UK. "Last year, we received the maximum number of enquiries

from India," he said.

Earlier, Alexander announced the creation of the British Business Group. The

aim, he said, was to be a partner of first choice for Indian trade and commerce.