UK to be India's gateway to Europe

UK and India are engaged in one of the most profitablebilateral trade and investment partnerships in the world.

The UK government on Tuesday called for stronger business ties with Indian companies, saying Britain could be India's gateway to Europe.

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UK and India are engaged in one of the most profitable and significant bilateral trade and investment partnerships in the world, British Trade Minister Ian Pearson said while addressing a seminar on 'Financing Growth in Emerging Economies in a Globalised World' in Chennai on Tuesday.

"UK could be the natural strategic partner for Indian companies to access European markets," he asserted.

Pearson is leading a 20-member business delegation to Tamil Nadu to explore the possibilities for further business cooperation between the state and Britan.

The team is scheduled to hold round table discussions with senior state government officials.

Predicting that the year 2006 will be a good year for India, especially Tamil Nadu, in joint partnership ventures, Pearson said, "Bilateral trade for the first three quarters of 2005 increased by more than 27 per cent compared to the same period in 2004."

The British Trade Minister also lauded Tami Nadu authorities' efforts to rebuild the areas devastated by Tsunami.

The Minister, who was instrumental in launching the Indo-British Partnership Network (IBPN) in December last to increase bilateral trade, said it was aimed to be an accessible gateway to reach out to businesses of all sizes and particularly encourage and facilitate small and medium enterprises to do business with India.