UK will work hand in glove with India in new chapter of economic development: Clegg

Bangalore: UK Deputy Prime Minister Nick Clegg today said the British government is committed to workhand in glove with India as it embarks on its new journey of economic development.

Speaking at the inauguration of UK India Business Centre here, he said “We are inaugurating this centre at the time ofgreat great expectation and optimism… that is contagious wherever you go in India at the moment…”.

“….the recent (Lok Sabha) election and the formation of the new government, the extraordinary push, drive and aspiration for change from the many many young people in this country is unprecedented….”, he said.

“1.2 billion people, 70 per cent of whom are under the age of 35 demanding a better chance, demanding a more freeier, demanding a more expansive future - that is a recipe for velocity of change which I think is going to be extremely exciting to perform and be a part of”.

More from Economy

Inflation likely to be a big focus area for budget 2024, say sources Explained: Will the Bank of Japan break tradition and raise interest rates?

Stating that the link between India and UK are very very strong, Clegg said “we are very familiar with each other, ourhistory, language, cuisine, literature….; we also trade with each other on a very large scale”.

He said Britain is the largest investor by any measure in India than any G20 country. Conversely, India invests more inUnited Kingdom than in rest of the European Union put together.

“It is already a very strong partnership, it’s more than a partnership, its real relationship of many many years withgreat intimacy and friendship….” he added.

Pointing out the presence of British companies in India and the business partnership that both countries share, Cleggsaid “…….British government is absolutely committed to work in partnership, hand in glove with the Indian governmentas it embarks on its new journey, in a new chapter in its exciting economic development”.

PTI