UK asked to ease visas for businessmen, professionals

India & Britain express concern over global economic scenario

 Minister for Commerce & Industry Anand Sharma raised the issue during his meeting with British Secretary of State for Business Vincent Cable. “A relaxed visa regime will help in boosting trade and investment between the two countries,” he told reporters after conclusion of Indo-UK bilateral talks on trade and investment.

Cable, in his response, was understood to have told Sharma UK was committed to free movement of professionals in connection with trade and investment, sources said. During the talks, the British side urged India to open up its growing segments including financial services sector like insurance and banking and multi-brand retailing.

CEOs Forum

Both sides decided to constitute six working groups to further accelerate Indo-UK bilateral ties in a wide range of economic activities. Both sides also decided to set up a Forum of Chief Executive Officers (CEOs) comprising heads of leading Indian and British firms. The Forum would work for promoting bilateral trade and investment between the two countries.

Earlier, Cable announced several MoUs between Indian and British firms envisaging multi-million pound investments in sectors like infrastructure and information technology and defence. One related to London-based Benoy Architecture firm taking up three high-profile construction projects in Bangalore and Mumbai.

It will develop retail complex on the Bangalore airport expressway, besides residential complex in Bangalore, while it will develop a commercial site in Mumbai. UK-based IT company PicoChip will provide wireless base-band technology for development of 4G base stations in India.

The firm will work with its Indian partner Rancore Technologies Limited. U K-based defence equipment maker Griffon Hoverwork bagged a 34 million pound contract to sell hovercraft to Indian coastguard.

“The global economic outlook remains uncertain and we will continue to work together in the G20 and other international financial institutions on our shared economic challenges,” said a joint statement issued later after a meeting between Finance Minister Pranab Mukherjee and UK Chancellor of Exchequer George Osborne. The two countries also resolved to work through the G20 framework for strong sustainable and balanced growth. G20 is a club of developing and developed nations.