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Orissa to take part in UK show

The DFID, working in partnership with Orissa in several sectors, is likely to give 28 million Pounds to the state.

india Updated: Jul 05, 2006 16:56 IST

For the first time, a team from Orissa will participate in road show being held in the UK in October, British Deputy High Commissioner in Kolkata Simon Wilson said.

The event aims at promoting investment opportunities in the state, he added.

The visit would also help facilitate discussion on future joint ventures, partnerships, collaborations and technology transfer possibilities, said Wilson, who was on his first visit to the state.

The Orissa team would be hosted by the UK Trade and Investment (UKTI), the British government's organisation for promoting international trade.

This would be followed by a UKTI-organised British business mission, which would visit the state in March 2007, he said.

UKTI was keen to promote UK-Orissa business partnership, he said, adding that a UKTI team from London and Kolkata had visited the state last week.

Wilson said that the Department for International Development (DFID) of UK, which has been working in partnership with the Orissa government in several sectors like power, education, health and rural livelihood, was expected to provide the state a grant of 28 million Sterling Pounds durng 2006-07.

DFID had provided the state a grant of 32 million Sterling Pounds in the last financial year.

He opined that India had become very important in the global economic arena and that the two-way trade of goods and services between India and the UK had doubled since 1993.

Over 2447 new Indo-British joint ventures had been approved by the Centre since August 1991, he said, adding that UK was India's fourth largest trading partner with the two-way trade of goods worth more than five billion Sterling Pounds.

Increasingly, most major British companies considered it critical to have partnerships in India.

These partnerships were vital in developing the competitiveness of British business, he said.

UK was keen to see more cooperation in biotech, health care, pharmaceuticals, automotive, engineering and other fields, he added.