Britain and India have the potential to forge a new economic partnership and further develop trade and investment links in the financial services sector as well as the wider economy, a top UK Ministry official said.
"It is a good opportunity for both the countries to enhance relationship by helping each other. This is also an opportunity where the Indian investor can invest in Britain,and British investors can also invest in India. I think it's a
mutual partnership," United Kingdom's Chancellor of the Exchequer George Osborne told reporters during the launch of Vodafone's new solar-powered mobile handset here Tuesday.
Osborne said that it is a good chance for Indian IT contractors to get involved and provide services to the British government.
"TCS (Tata Consultancy Services) has a back office in the UK and we would like to see more companies coming. We want smaller and mid-size companies to provide services to the British Government," he said.
Commenting on stress tests in view of the European financial crisis, he said they have helped build confidence in the banking system. "It was necessary and it was picked up in a transparent way. However, it is not the only measure we need to look up. It is in Europe's interests and indeed whole of G20's interests, including India," he said.
In Mumbai, he will call on Reserve Bank of India Governor D Subbarao at an event co-hosted by the British Deputy High Commission, UK Trade and Investment and the Indian Bankers'
Association. It will be attended by senior representatives of the banking, financial services and business communities in the city.