A few days ago, India witnessed the largest overseas business delegation from Britain in its history. Headed by the PM David Cameron, a three-day-visit from the British policy-makers comprised meetings set to develop stronger economic cohesion between the two countries. Cameron felt “proud” of this venture and in a speech he delivered at Hindustan Unilever factory, pointed out: “India’s rise is going to be one of the great phenomena of this century…Britain wants to be your partner of choice.”
What Cameron has been talking about is not so different from previous Western delegations to India that have sought to attach their flailing economies to a more dynamic one. Even though India’s economy has plummeted slightly, it is still enjoying an average six percent of growth per year.
Along the same vein of enhancing ties between the two countries, David Cameron has an ambitious goal: to double annual bilateral trade from the 2010 figure of $17.8bn (£11.5bn) to £23bn in 2015, to coincide with the next UK general election.
The delegation is also seeking to encourage the government of India to liberate airline, banking, insurance and retail industries for all foreign investors. The education industry is a source of focus with heads of six British universities joining the delegation – the idea being, to attract foreign students. During the trip, Cameron was in Mumbai and then New Delhi, the latter of where he spoke with the PM and President of India, Manmohan Singh and Pranab Mukherjee respectively.