The UK India Business Council drafted a memo for increasing understanding with Indian Telangana government under which it will force for more investment approaches from the UK into the State, especially in the regions of progressive manufacturing, including defense and aerospace, food and beverages, pharma, healthcare, and higher education.
The agreement, for which Council Secretary COO Kevin McCole and the State’s Industries and IT Secretary Jayesh Ranjan swapped documents at a function here, will also work towards association in the start-up ecosystem space.
UKIBC told in a statement that under the MoU, both sides will share information, boosting reformation directing to improvement easily of doing business, promote investor communications and confirm State officials are familiar with the requirements of UK business.
The council said, “ In short, this is a shared commitment towards improving the long term relationship that will deliver investment, growth, and jobs in Telangana”.
Presently, UK companies appoint almost 10,000 people across Telangana. Both Mr. Ranjan and Mr. McCole attempted to heighten the potential for attracting more investments and as a proposition, create more job opportunities.
Since 2000, the UK has pondered the top G-20 investor in India, making the investment of 25 pound billion and creating 1,00,00 jobs opportunity. Mr. McCole added the objective of the meeting and MoU is to develop the number of UK companies coming to Telangana and contexing their operations.
Mr. Ranjan told several numbers of UK companies in Telangana is proportionally less. The MoU would assist facilitate more UK investments, especially in the context of research in the UK in the last year which reported 18% of companies pondering to make an investment for the first time in India were attempting at the Southern region.
UKIBC decides to host the first of what will become a yearly ministerial and business delegation from Telangana to the UK to emerge awareness about strategic opportunities for the UK companies of the State, released in a statement.