The Telegraph
Thursday , May 8 , 2014
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Trade with UK to rise

Scott Furssedonn Wood in Calcutta on Wednesday. Picture by Kishor Roy Chowdhury

Calcutta, May 7: Trade between India and the UK is slated to double to $38 billion by 2015.

British deputy high commissioner Scott Furssedonn Wood today said both the countries could look at sectors such as infrastructure, health, urban architecture and power to enhance co-operation.

“In the economic sphere we are well on track to meet the target that the two Prime Ministers set in 2010 of doubling trade by 2015. I think we can and we should do better,” Wood said.

“The UK is the third largest investor in India and India is the fifth largest investor in the UK. This relationship is strong and deep,” he added. Wood was speaking at a session organised by the Bengal National Chamber of Commerce and Industry here today.

Key items of export to the UK are cotton, readymade garments and textiles, transport equipment, spices, ores and minerals and drugs, while import items include ores, metal scraps, pearls and semi-precious stones.

“India needs infrastructure, roads, metros. The UK specialises in infrastructure development. India needs power from both traditional and renewable sources. The UK is strong in urban planning and architecture. There is a clear strong fit between what India wants and the UK offers,” Wood said.

Incidentally, a memorandum of understanding has been signed between the UK government and the Calcutta Municipal Corporation to work together in ensuring the future growth of the city and its urban environment.