SMEs to remain in focus for India, UK cooperation
Updated: Jul 09, 2014 11:56:05am
New Delhi, Jul 9 (KNN) India and Britain have agreed to strengthen cooperation in the area of small and medium enterprises underscoring the premise that such an option can help lift economy recovery in the two countries.
"Both countries emphasised the importance of investment, including in infrastructure and small and medium enterprises, to strengthen the global recovery and lift economic growth, and welcomed the G20’s work developing country-specific and collective actions on investment, including to promote long-term private sector investment, and to enhance the catalytic role of Multilateral Development Banks," said a joint statement issued yesterday by the UK Chancellor of the Exchequer and the Finance Minister of India after the seventh round of the UK-India Economic and Financial Dialogue (EFD).
The UK and India remain strong supporters of an ambitious EU-India Broad based Trade and Investment Agreement (BTIA) that stands to bring significant benefits to businesses and consumers on both sides. The UK looks forward to negotiations between India and EU on BTIA.
Further, the UK and India share a common commitment to take the necessary steps to support growth and jobs, ensure financial stability and restore fiscal sustainability. The two sides have agreed to work closely together and are committed to multilateral co-operation through the G20 and International Financial Institutions.
With regard to infrastructure financing, both countries agreed to pursue joint work on the common aim of exploring ways to encourage increased institutional investment in infrastructure. The ambitious package of measures to support investment in Indian infrastructure will include a one billion pounds line of credit from UK Export Finance (UKEF) to support Indian infrastructure projects, such as Bengaluru-Mumbai Economic Corridor (BMEC).
In addition, UK and India signed an Accord to formalise the cooperation between the UK and India on infrastructure and Public-Private Partnerships. (KNN/ES)
"Both countries emphasised the importance of investment, including in infrastructure and small and medium enterprises, to strengthen the global recovery and lift economic growth, and welcomed the G20’s work developing country-specific and collective actions on investment, including to promote long-term private sector investment, and to enhance the catalytic role of Multilateral Development Banks," said a joint statement issued yesterday by the UK Chancellor of the Exchequer and the Finance Minister of India after the seventh round of the UK-India Economic and Financial Dialogue (EFD).
The UK and India remain strong supporters of an ambitious EU-India Broad based Trade and Investment Agreement (BTIA) that stands to bring significant benefits to businesses and consumers on both sides. The UK looks forward to negotiations between India and EU on BTIA.
Further, the UK and India share a common commitment to take the necessary steps to support growth and jobs, ensure financial stability and restore fiscal sustainability. The two sides have agreed to work closely together and are committed to multilateral co-operation through the G20 and International Financial Institutions.
With regard to infrastructure financing, both countries agreed to pursue joint work on the common aim of exploring ways to encourage increased institutional investment in infrastructure. The ambitious package of measures to support investment in Indian infrastructure will include a one billion pounds line of credit from UK Export Finance (UKEF) to support Indian infrastructure projects, such as Bengaluru-Mumbai Economic Corridor (BMEC).
In addition, UK and India signed an Accord to formalise the cooperation between the UK and India on infrastructure and Public-Private Partnerships. (KNN/ES)
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