The large presence of Indian diaspora in Britain and growing economic engagement strengthen the comprehensive strategic ties between India and Britain, said a joint statement issued by the two sides on Jan 21. The bilateral economic linkages are strengthening through increased trade and investment flows, said the statement issued after delegation-level talks between Prime Minister Manmohan Singh and his British counterpart Gordon Brown. The UK is the third largest cumulative investor in India. India has emerged as one of the largest investors in the UK, including several major acquisitions, reflecting the maturing nature of the bilateral economic partnership.
Brown, who was on a two-day visit in New Delhi with a large business delegation since Jan 20, said around $10 billion worth of projects were in the pipeline between Indian and British companies and hoped they would conclude soon. The two sides acknowledged the potential for greater collaboration in areas like IT, life sciences, nano-technology, advanced manufacturing, infrastructure, energy, healthcare, agriculture and higher education.
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