New Delhi, Mar 14 (ANI): Union Commerce Minister Anand Sharma today expressed satisfaction over the negotiations with the European Union (EU) for a Broad based Trade and Investment agreement (BTIA) with 12 rounds having been completed till January.
In a bilateral meeting with Lord Green, UK Minister of State for Trade and Investment here, Sharma emphasized that India is one of the most promising destinations for foreign direct investment and hoped that free movement of professionals and service providers will help in deepening the economic relationship.
He also expressed optimism over the growing trade and investment between the two countries, as reflected in the April-September 2010 figures where exports to UK registered a growth of 10.88 per cent over the corresponding period of the previous year.
Sharma highlighted that the JETCO (Joint Economic and Trade Committee) has been working successfully with government and business working together to enhance bilateral trade and investment.
Both the Ministers lauded efforts of India-UK CEOs Forum. The CEOs forum will make recommendations to the two governments on how to increase the levels of trade and investment in each other's economies.
UK is the fourth largest investor in India with FDI from UK totaling 6.23 billion dollar and in this year (April to October) it has been 0.66 billion dollar.
Trade between the two countries in 2009-10 was 11 billion dollar with exports from India to UK were valued at 6.2 billion dollar and imports from UK to India at 4.4 billion dollar. (ANI)
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