Top British Ministers Woo India With Modi in Charge

Monday, 07 Jul 2014 09:26 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

Britain's finance minister announced a $428 million deal with India's military on Monday after arriving in the country to seek stronger trade and investment ties with new Prime Minister Narendra Modi's government.

George Osborne and Foreign Secretary William Hague landed in Mumbai for the two-day visit to drum up business for Britain, the latest foreign government delegation rushing to court Modi following his victory in May.

Osborne announced the completion of a £250 million ($428 million) deal for multinational group MBDA headquartered in London to supply weapons to the Indian Air Force, creating "hundreds of jobs" in Britain.

"India is embarking on an exciting journey of reform under your new government," Osborne told business leaders in India's financial hub.

"I believe there to be no more reliable companion in that journey than the United Kingdom."

The ministers' visit, which takes them to New Delhi later on Monday, is expected to focus on forging deeper diplomatic and economic ties including in defense and infrastructure.

Reform-minded Modi has raised hopes for foreign investors with his pledges to open up India's stumbling economy, spur investment and kickstart major infrastructure projects stalled under the previous government.

Osborne said he could "feel the buzz in the air" following Modi's landslide victory at elections that ended 10 years of left-leaning Congress party rule.

"The excitement here is matched by new confidence among international investors abroad in the future of the Indian economy," he said.

 

 

European governments and the United States boycotted Modi for a decade over deadly religious riots in 2002 while he was running his home state of Gujarat.

But they are now redoubling their efforts to make up for lost time, with Russia's deputy prime minister, the French foreign minister and US Senator John McCain also visiting in recent weeks.

The British pair are expected to hold talks with Indian Foreign Minister Sushma Swaraj and Finance and Defense Minister Arun Jaitley among others on Tuesday before meeting Modi.

Britain is holding out hope that a stalled deal worth at least $12 billion for France to supply fighter jets to India could fall through, opening the door for the Eurofighter jet which is partly made in Britain.

In Mumbai, Osborne announced that Indian pharmaceutical company Cipla will invest £100 million ($171 million) in drugs research in Britain, while auto maker Mahindra and Mahindra will invest £20 million ($34 million) in electric car development.

"Indian businesses are huge investors in the UK. I want more of that investment," Osborne said.

He expressed Britain's commitment to developing Indian infrastructure projects such as the proposed Bangalore-Mumbai economic corridor, as well as helping to develop new Indian bond markets and financial services.

Hague, who announced an increase in scholarships and grants for Indians wanting to study in Britain, said the new government's mandate had "transformative potential" for India.

He called for a closer bilateral relationship in foreign policy amid "signs the world is becoming systemically less predictable and less stable".

Britain believes it is time for India's political, economic and cultural clout to be "more strongly felt" in world affairs, Hague added.

© AFP 2014

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

World Powers Hoping Scots Vote 'No' to Independence

Wednesday, 17 Sep 2014 09:20 AM

The world is holding its breath but mostly hoping Scotland will vote No to independence from Britain in Thursday's ref . . .

Al-Qaida Group Hijacked Pakistan Naval Ship, Targeted US Vessels

Wednesday, 17 Sep 2014 06:53 AM

Al Qaida's South Asia wing has claimed responsibility for hijacking a Pakistani naval ship and trying to use it to fire  . . .

Iraqi Diplomat: Pope At Risk of Assassination by ISIS

Wednesday, 17 Sep 2014 09:00 AM

A top Iraqi diplomat has warned that the Pope, who is planning to visit Albania on Sunday, is at risk of being assassina . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved