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September 12, 2000
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Money > Business Headlines > Report September 12, 2000 |
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Call to enhance Indo-UK tradeThe Lord Mayor of London Clive Martin on Tuesday called for enhancing business relations between India and Britain, calling on Indian businessmen to make more investments in London, the international financial centre. "London has a reputation as a clean market, and it has a commitment of openness in welcoming foreign firms,'' the London Lord Mayor said while delivering the keynote address at a seminar 'Bombay and London: Financial centres in partnership', organised by the Indo-British Partnership and the British Deputy High Commissioner in Bombay. Describing Bombay, the commercial capital of India, as an important financial centre, he said there were several opportunities in London for Indian businesses. ''Britain today is very much at the cutting edge of managing change, be it financial, commercial or industrial,'' he said. Martin said, ''London makes a significant contribution to international business. All big international banks have a considerable presence in London and many run their world-wide operations from the city. ''Indian companies are also required to play a role in it and the markets are open. There is a genuine level playing field for foreign firms, with no overt or cover Advantages given to domestic institutions,'' he assured. The Lord Mayor also met Maharashtra Chief Minister Vilasrao Deshmukh, city Mayor Hareshwar Patil, municipal commissioner V Ranganathan, Reserve Bank deputy governor S P Talwar, Securities and Exchange Board of India chairman D R Mehta, among others. Several matters of mutual interest were discussed at the meetings, sources said. Caroline Goodman, senior manager for Global Business Development at the London Stock Exchange, said more than 20 Indian companies are listed with the LSE. ''One can attract international capital, have liquidity as well as visibility if registered with the LSE, which is the largest in Europe and the biggest in the world for global foreign equity business,'' she said. |
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