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In response to the queries to the statement made by Mr Barry Gardiner, MP in the Parliament, regarding downgrading of the UK as a trading partner for India, the High Commission of India in London, would like to state the following:

There has not been any downgrading of our trade relations with UK. As a matter of fact, India-UK trade has crossed 10 billion mark till November 2011 against 9.8 billion in whole of 2010, despite the continuing global economic slowdown. FDI from UK into India registered a substantial increase in 2011, from a level of USD 755 million in 2010-11 to over USD 2.5 billion during April - October 2011. There have been several new investments and acquisition of businesses by Indian entities in the UK in 2011.

Last year 2011, has seen a very full range of trade and investment engagements between India and UK including Infrastructure financing conference, SME conference, India-Wales business meet in Cardiff and a number of ministerial visits and bilateral interactions from India to UK.

As regards to a number of other points made in the statement by Mr. Barry Gardiner, suffice it to say that the views and perspectives of the High Commission are rather different from those expressed by Mr. Gardiner.

London
26 Jan 2012

Jan 26, 2012
 
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