Industry & Economy
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Foreign Trade
JETCO to help boost trade with UK: Minister
Our Bureau
New Delhi
,
Sept 8
THE India-United Kingdom Joint Economic and Trade Committee (JETCO) would be a key instrument in further strengthening trade and economic cooperation between the two countries, the Union Commerce & Industry Minister, Mr Kamal Nath, has said.
During an interactive meeting with the British Secretary of State for trade & Industry, Mr Alan Johnson, followed by a meeting with the UK business delegation here early in the day, Mr Nath said that JETCO must deliver results and function as an effective body in furthering Indo-UK partnership, besides serving as an institutional body to review the status of bilateral trade.
Mr Nath also flagged India's interest for early convening of the India-UK investment summit, particularly in the context of the large investment opportunities emerging in India in the infrastructure sector.
It was also indicated that the India-UK Investment Summit could be held during the forthcoming visit of the UK Chancellor of Exchequer to India in the next couple of months.
Referring to outsourcing, Mr Johnson said: "Some parts of the British press want us to stop off shoring - to take heavy-handed interventionist measures. I think that's wrong.
"Responding to globalisation by putting up barriers is shortsighted, ineffective and ultimately damaging - especially for consumers. Outsourcing can and should bring benefits for UK and India alike."
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