‘UK to woo India and China for investment’

February 21, 2010 05:20 pm | Updated 05:20 pm IST - London

UK Trade Minister Lord Davies has suggested that Britain should wean off its dependence on the American companies investing here and instead pursue more Indian and Chinese firms.

Ahead of a conference on Monday to drum up inward investment, which will be attended by 250 chief executives from all over the world, Lord Davies said the government has made a list of 100 biggest current and prospective investors and assigned each a ministerial “relationship manager” including Prime Minister Gordon Brown.

“We are still very much dependent on the US companies making big investments. The trend is changing. We would like to see more Indian and Chinese companies,” Lord Davies said.

UK Trade and Investment, the government’s business development arm, reported that America invested in 621 projects here last year; India scored second rank with 108 projects while China is at eighth spot with 59 projects.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.