Financial News

  • 18 February 2013, 11:09

India Visit: David Cameron Leads Trade Mission

David Cameron has arrived in India where he is heading the largest ever trade delegation to travel overseas with a British Prime Minister.

Mr Cameron is anxious to drum up the prospects for business deals, but knows that there is a risk that his trip will be clouded by corruption allegations surrounding the sale of luxury AgustaWestland helicopters to India.

The Indian media and political arena has been dominated for days by a corruption probe, which has led to arrests in Italy where AgustaWestland's parent company Finmeccanica is under investigation.

The Prime Minister knows there is a risk that the deal - which has already been part-completed - could end up cancelled, but is anxious to ensure his schedule is not derailed by the helicopter affair.

On arrival, Mr Cameron travelled to Mumbai for a day of business-focused meetings ahead of talks with the Indian Prime Minister and President in Delhi.

Mr Cameron has frequently stressed the value he places on working to improve the UK's trade relationships overseas.

Among the party of more than 100 joining Mr Cameron are representatives of major companies like Rolls-Royce, BAE Systems and BP, small businesses, universities, football's Premier League, the London Underground and nine parliamentarians.

On this trip he is likely to suggest that the relationship with India had been neglected under the previous Labour government, but that it is a priority for the current government.

Before the visit he told the Hindustan Times: "Frankly, Britain did neglect this relationship during the first decade of this century.

"But under my Government we're determined to turn that around.

"Trade grew at over 20% in 2010 and 2011. We're reaching out beyond the biggest cities, with the biggest diplomatic footprint of any country in India."

Ministers have set themselves a target of doubling bilateral trade over the course of the parliament.

But the speed of growth in India is such that Mr Cameron knows opportunities to trade are continuing to expand above expectations; and UK ministers and companies alike need to be ready to take advantage.

He has also indicated that he is planning to relax visa requirements to attract Indian business visitors to the UK.

Asked by the Hindustan Times about business concerns about the difficulty of obtaining UK visas, Mr Cameron said: "I think there's more we can do here and that's an area where I hope we can put an even more attractive offer on the table during this trip."

what do you think?

10 comments

Ben Ralph

6:07am on 18/2/2013

"..looking to relax visa requirements.." note that for when a Kashmiri sepratist comes over and blows themselves up.

Score: 6

Lorgar Aurelian

6:38am on 18/2/2013

The same India we give untold millions to that they don't want? Thing is any business deals struck will likely be paid for by money given by us to them in the first place.

Score: 6
4 replies

ali baba

9:39am on 18/2/2013

What planet you on You have taken far more from India then given. Fact.

Score: 7

pjbeckett

9:43am on 18/2/2013

Such as ? What have we taken from India that was not paid for ?

Score: 4

ali baba

11:18am on 18/2/2013

diamonds and gold cheap labour i could write a book on it actually

Score: 4

pjbeckett

1:46pm on 18/2/2013

Who`s ? does the Indian government know about this ?

Score: 3

field_pete

6:50am on 18/2/2013

So, on top of the needless aid we've given India, the jobs we've given to India by moving our call centres there, the large number of students and immigrants we already have coming in from India we are going to open the door even more to encourage more students from India and welcome them to stay on to work here after finishing their degree, loosen the visa system, as if it could get any worse, encourage Indian businesses to invest and set up in the UK, who will bring in their own Indian workforce. Oooooh can't wait, that'll help us Brits.

Score: 3

Robert Turnbull

8:07am on 18/2/2013

I wonder how much of our money he is going to give away?

Score: 3

Name witheld

8:49am on 18/2/2013

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Name witheld

9:04am on 18/2/2013

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Score: 3

d and d Phillips

9:20am on 18/2/2013

Will he plead the case for g*y Marriage?

Score: 3

pjbeckett

9:41am on 18/2/2013

Mr Cameron is seeking to further tap India`s rich source of labour by accepting people instead of money for our exports. We could also build factories in India to produce our exports thereby saving the costs of transporting them there.

Score: 1

gengisken1227

10:02am on 18/2/2013

A few of the many "benefits" which Cameron says increases our influence by borrowing money to give foreign aid to India are - India buys Chinese submarines India buys French fighter jets Maybe less foreign aid and less influence might help.

Score: 2

Facebook User

10:21am on 18/2/2013

A trade mission to Leeds?......aye?

Score: 2
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