Board set up to boost India-UK trade

The UK India Business Council has set up an Advisory Board to facilitate cooperation in trade and investment among businessmen from India and Britain. The London-based Board would be formally launched by the UK's Prime Minister Gordon Brown, during his visit to India next week.

"The Board would advise, undertake research and scout for potential business partners for Indian as well as British entrepreneurs keen to invest in either country," UK India Business Council Chairman and Cobra Beer CEO Karan Bilimoria told PTI.

The over 40-member board would comprise industrialists, including Virgin Group's Richard Branson, Lord Swraj Paul as well as heads of companies like HSBC and Rolls Royce.

UKIBC, which has an office in Mumbai, is also planning to expand base in India and set up three more branches in Delhi and Chennai over the next one year to help British companies invest in India.

UKIBC CEO Sharon Bamford said there were plans to set up a similar Board in India as well.

UKIBC is a government-funded organisation aimed at promoting trade between the two countries.

Bilimoria is leading a 60-member strong business delegation to India that would meet ministers and senior government officials to highlight problems faced by British firms in India. UK companies are keen to invest in the Indian insurance sector. Similarly, there are restrictions on British lawyers to practice in India, Bilimoria said. "Such barriers need to be removed to increase bilateral trade and cooperation," he added.