New Delhi: Union commerce and industry minister, Piyush Goyal will participate in the India Day Conclave on July 16 in London with an objective to show investment opportunities in India.
During his three-day visit to the UK, starting from Sunday, Goyal will meet Indian diaspora and interact with Indian business leaders, the ministry said in a statement Friday. The minister is also scheduled to address India-UK Joint Economic Trade Committee (JETCO) in London. He is also scheduled to meet British Secretary of State for International Trade, Liam Fox.
India Day conclave is co-hosted by the UK Government and the City of London. Over 300 delegates from the UK and India’s financial sectors, including senior bankers, chief financial officers, major international institutional investors, lawyers, insurance brokers and fund managers are expected to attend the conclave.
“One of the key objectives is to show opportunities to invest in India to the City of London’s most prominent institutional investors,” the statement issued by the ministry has read.
The commerce and industry minister will seek to raise the country’s profile among international investors of the Green Growth Equity Fund, which the UK and Indian governments have jointly set up with an approximate investment to the tune of of 120 million pound each.
India-UK Trade and Economic Relations are reviewed annually by the JETCO at the level of minister.
It is learnt that so far, 12 meetings have already taken place. Today, around 800 Indian companies operate in the UK employing 1,04,932 individuals. The sectors they are operating include spanning goods like automotive, pharmaceuticals and chemicals and services in sectors such as technology, engineering and finance.
As per figures, currently United Kingdom is the third-largest investor in India. UK, is at the same time, is among the country’s main trading partners. The volume of bilateral trade between the two nations currently stands at 13.6 billion euro.
Recently Britain’s prime ministerial candidate Jeremy Hunt has reached out to the Indian diaspora to boost his chances against Boris Johnson, reiterating his plans to strengthen the “incredibly important” bilateral ties and strike a post-Brexit Free Trade Agreement.