Economy

‘UK to woo India and China for investment’

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.

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Printable version | Feb 26, 2020 12:44:55 AM | https://www.thehindu.com/business/Economy/lsquoUK-to-woo-India-and-China-for-investmentrsquo/article16815990.ece

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