Outlook: Trade and investment ties between India and the United Kingdom will get a new fillip as the two countries have identified two new areas of cooperation- small and medium enterprises (SME) and creative industries including films and the media.
The UK-India Joint Economic and Trade Committee (JETCO), which held its meeting in London last night, agreed to start a dialogue on venture capital for SME and to set up a working group on creative industries. It also agreed to hold the first UK-India Investment Summit here possibly in June. The Indian delegation at the meeting was led by Commerce Minister Kamal Nath while Alan Johnson, Secretary of State for Trade and Industry headed the British side. “Two new areas of cooperation have been identified – small and medium enterprises (SMEs) and creative industries, including films and the media,” an official release said.
Both sides have also agreed to set up a bilateral working group to enhance links in creative industries.
JETCO was set up in pursuant to the India-UK Joint Declaration by the prime ministers of India and the UK on September 20, 2004, fulfilling a long-felt need for a structured platform for policy engagement as well as practical action.
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