London: After assuring global investors on how welcoming India was as the preferred investment destination, Prime Minister Narendra Modi yesterday said that it was for industry captains to push bilateral ties with Britain as the political will of the two nations was well established.
“India and the United Kingdom are economically made for each other. This relationship has to be driven by private sector CEOs now,” Modi said on the second-day of his engagements here during his address to the UK-India CEO Forum.
“People of UK and India are easily compatible. This is in itself is a big advantage.”
British Prime Minister David Cameron, who also addressed the forum, articulated a similar position at the meeting, attended by around 30 chief executives from the two sides. “We both have the political will to take our economic relationship forward,” he said.
The Indian prime minister said he was particularly keen that the global investment community participates in India’s infrastructure projects. “We want to develop our railway stations in the public-private partnership mode,” Modi said, adding: “Defence manufacturing is also the backbone of our ‘Make in India’ initiative.”
Modi also said India was looking at the global stage now. “We are confidently, consistently and ceaselessly working to integrate our economy with the world,” he told the meeting, held at Lancaster House, close to Buckingham Palace.
The Indian prime minister also referred to initiatives such as “Make in India” and said a special emphasis was on sprucing up infrastructure, further opening up of the economy to foreign capital, building 50 million new houses by 2022 and generating 175 GW of renewable energy.
“British companies in India will be a win-win partnership for both countries.”
A statement issued after the meetings between the two prime ministers said they looked forward to the first meeting of the reconstituted India-UK CEOs Forum, and had tasked it with advising them on the trade and investment opportunities as also challenges faced by the two sides.
Bharti Airtel Enterprises Chairman Sunil Bharti Mittal, Tata Group Chairman Cyrus Mistry, Lulu Group Chairman Yusuff Ali MA, Tata Consultancy Services CEO and Managing Director N Chandrasekaran and Bharat Forge Chairman Baba Kalyani were the prominents members on the Indian side.
The UK side was represented by Standard Chartered Bank Chairman Sir John Peace, Vodafone CEO Vitorioa Colao, BP Chief Executive Bob Dudley, HSBC Chairman Douglas Flint, and Rolls Royce CEO Warren East among others.
Agencies
