Indo-UK trade to boom: Scindia

There is tremendous potential for increasing the Indo-British trade from the current $12 billion to $25 billion in the next couple of years, according to leading Indian parliamentarians and businessmen.

Citing the example of growth in the trade between India and China during the last three years, a delegation of Indo-British Parliamentary Forum and the Federation of Indian Chambers of Commerce and Industry, currently on a visit to London said, "In the next two years, all out efforts must be made to increase the trade from current $12 billion to $25 billion per annum."

Jyotiraditya Scindia, MP, co-chairman of the IBPF and Onkar S Kanwar, president of FICCI, said three years ago Indian trade with China was $1 billion per annum and now it has shot up to $1billion per month.

Describing the four-day visit as "intense and fruitful" so far, Scindia said they had discussions among others with British Secretary of State for Trade and Industry Patricia Hewitt and exchanged views at the International Institute of Strategic Studies, besides visiting defence establishments.

India has signed a 795 million pounds agreement for purchase of 66 Advance Jet Trainers (Hawks) with British arms manufacturer BAe Systems.

The delegation including Suresh Prabhu, Ajay Maken, Akhilesh Yadav, Anand Sharma, Lalit Suri (all members of parliament), Ramesh Chandran, executive director, IBPF, Amit Mitra, secretary general FICCI, besides Scindia and Kanwar, will visit Northern Ireland and Cambridge University.