At a recent virtual roundtable in Mumbai, United Kingdom-India Business Council (UKBIC) managing director Kevin McCole signed a memorandum of understanding (MoU) with Maharashtra Industrial Development Corporation (MIDC) chief executive officer P Anbalagan to help the state proactively improve its business environment and strengthen its collaboration with British businesses.
Speaking on the occasion, Kevin McCole, UKIBC, said: “This, I think, is vitally important because, as our economies and societies recover from the COVID-19 pandemic, the need for expanded trade, investment, and collaboration between the UK and India only increases.”At a recent virtual roundtable in Mumbai, United Kingdom-India Business Council managing director Kevin McCole signed a memorandum of understanding with Maharashtra Industrial Development Corporation chief executive officer P Anbalagan to help the state proactively improve its business environment and strengthen its collaboration with British businesses.#
“Maharashtra state looks forward to further strengthen its business relations with the UK, by diversifying and expanding the activities and with a thrust on manufacture of engineering components, capital goods and industry 4.0,” B Venugopal Reddy, principal secretary, industries in the Maharashtra government, said.
Discussion at the roundtable focused on the economic and social contribution UK businesses make to Maharashtra, their future investment plans, the state’s plans to re-grow the economy, and on the importance of international trade, according to a UKBIC press release.
The UKIBC’s annual Doing Business in India report found that Maharashtra is the top destination for improved business environment in India and the most common state that UK companies are looking to expand in. Thirty per cent of British companies running operations in India, including industry giants like Perkins Engines and Diageo, are based in Maharashtra.
UKIBC will support interactions between UK businesses and the state government to provide direct feedback from business on the ease of doing business and market access. These interactions will take the form of dialogues, annual ministerial meetings and various delegation visits.
ALCHEMPro News Desk (DS)
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