Indian investments created 4K jobs in UK in '09:British Prince

Prince Michael of Kent on Friday said here that Indian investments helped create 4,000 jobs in the UK last year and both nations need to cooperate more to facilitate business growth.

Prince Michael of Kent on Friday said here that Indian investments helped create 4,000 jobs in the UK last year and both nations need to cooperate more to facilitate business growth.

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"The UK’s bilateral trade with India is worth over 12 billion pounds and has seen a double-digit growth in the last year...Last year alone, almost 4,000 new jobs were created in the UK through Indian investment," Prince Michael of Kent today said at the Global Economic Summit here.

Prince Michael, who is on a three-day visit to Mumbai to attend the summit, said limited long-term finance, a shallow bond market and constraints on external commercial borrowing are roadblocks for business expansion in India.

Both countries need to work more closely to set up small businesses by facilitating investments through appropriate financing vehicles and venture capital route, besides reducing red-tape, Prince Michael said.

"We must work together to encourage more small business set-ups in India and the UK through appropriate financing vehicles and venture capital and reduced red tape, boosting two-way trade and investment," he said.