India and the UK on Tuesday discussed ways to enhance bilateral trade, with the Prime Minister >Manmohan Singh inviting more British investment in infrastructure and energy.

“We have asked our officials to explore British participation in India’s National Manufacturing and Investment Zones and in a possible industrial corridor in the Mumbai-Bangalore sector,” Singh said after talks with British Prime Minister >David Cameron here.

Singh said that he also sought Cameron’s support in ensuring early conclusion of “a fair, balanced and forward looking broad-based India-EU Trade and Investment Agreement”, which will open new opportunities for trade and investment between the two countries.

The prospects of enhanced co-operation in the development of the defence industrial base of India through greater emphasis on technology transfer, co-development and co-production was also discussed, he added.

Addressing the media, Cameron said India and the UK were on track to double bilateral trade to £23 billion by 2015.

“We are looking for the opportunity to go further and open more British trade offices here. We want to create a pan India network. We are excited by the potential on the corridor between Mumbai and Bangalore as a special partnership to deliver infrastructure and growth,” he said.

He said India and UK want to make rapid progress on the India-EU FTA. “I think there is a window of opportunity on all sides,” he added.

The two Prime Ministers also discussed how to reduce the barriers to investment in both countries apart from rewriting the rules for sharing technology.

“We are going to have new programme of collaboration on cyber security,” the British Prime Minister said.

> ashwini.phadnis@thehindu.co.in

Related Topics