| UK keen to invest in Indian SMEs - Business Standard |
| 24-04-2008 |
| UK-based financial institutions and banks are keen on investing in Indian small and medium scale enterprises (SMEs). A large number of establishments are also keen to invest in public-private partnerships and private finance initiative projects. David Lewis, the Lord Mayor of London, said this in Pune last week. Lewis said that sectors like infrastructure, pharmaceuticals, health and automobile were the top priorities for the UK's financial firms. "The SME sector remains the most attractive segment for the UK investors. The private sector, in general, will grow at a rapid speed in India. We also want companies from this particular segment to enter UK and set up offices," Lewis said. The initiatives taken by the UK-India Business Council have also produced excellent results for the sector over the last three months. Council CEO Sharon Bamford told reporters that since January 1 this year, 26 new business proposals had neared completion in the UK through the council. "We are helping small Indian companies set up offices in UK and their investment needs are met through the UK-based investors," Bamford said. "Currently, the trade from the UK to India is worth Rs 70,000 crore and it can increase further. However, issues like restrictions on foreign banks and law firms in India as well as the red-carpet attitude has put breaks on business processes. We will raise all these concerns with the ministries in Delhi," he said. |