Thu, Dec 8, 2016 | updated 05:30 PM IST

UK International Trade Secretary visits India to strengthen bilateral trade, investment relations

Updated: Nov 08, 2016 15:54 IST

New Delhi [India], Nov 8 (ANI): British Secretary of State for International Trade Rt. Hon. Liam Fox is visiting India from November 6th to 10th to take forward the India-UK collaboration across trade, business, skills and entrepreneurship.

He is participating at the India-UK TECH Summit, November seven to nine alongside British Prime Minister Theresa May, who is leading a business delegation of forty British companies on her first overseas visit to India.

There are also five other organized business delegations in the smart cities, agri-tech, advanced engineering, healthcare and life sciences sectors, which together take the total number to around 100 of the best and most advanced British companies.

"I am delighted to be back in India for the second time within three months. My visit shows the huge value I place upon the UK's close relationship with India. Our mutual investments build a trusting commercial relationship that benefits millions of our citizens," said Dr. Liam Fox, UK Secretary of State for International Trade.

"As Britain turns to face the world, our cherished relationship with India will become more important than ever before."

In New Delhi Dr. Fox co-chaired the 11th edition of the UK- India Joint Economic and Trade Committee (JETCO), along with Nirmala Sitharaman, India Minister for Commerce and Industry on November 7th.

The Ministers affirmed the on-going commitment to strengthen and deepen the bilateral trade, investment and economic engagement between the two nations.

The Ministers and senior industry leaders also participated in the plenary session wherein the Co-chairs of the existing two Joint Working Groups (namely Smart Cities, and Technology Advance Manufacturing & Engineering) presented an update on the progress made under respective JWG since the last JETCO.

Dr. Fox also participated in the CEO Forum- a business-to-business forum aimed at enhancing the UK-India commercial relationship. He made the opening address at the medi-cities roundtable at TECH Summit. He also joined the British Prime Minister at an Indian Investors Roundtable.

On Tuesday 8th November, he spoke alongside Indian Finance Minister, Arun Jaitley at the inaugural session of on the second day of TECH Summit. He will deliver opening remarks at the Opening of Session on 'The Connected City: Tech Solutions for India's smart cities, to demonstrate the UK's leadership in smart cities.

He will close a 'Hackathon' at the TECH Summit, which will be held to promote technology as a solution to issues of financial inclusion in India. He will also launch FinScope Consumer India (PSIG) 2015, a report showing growing financial inclusion survey in four Indian States.

Dr. Fox will also visit Pune, where he will inaugurate "Future Manufacturing and Innovation Workshop" with the objective to promote UK co-operation opportunities in the advanced engineering sector.

He will also meet with industry, business and important stakeholders based out of Pune. On Thursday 10th November he will participate in a session titled 'India and Europe after Brexit', to understand the implications of UK's exit from the EU on India.

India is the third largest investor in the UK; and the UK invests more in India than any other G20 economy. (ANI)