CII to hold interactive session with diplomat on Indo-UK trade

Last Updated: Mon, Nov 19, 2012 10:40 hrs

The Confederation of Indian Industry (CII) Visakhapatnam is organizing an interactive session with Mr. Richard Hyde, Britain's Deputy High Commissioner for Andhra Pradesh.

The objective of this session would be to discuss matters relating to Indo-British Trade and Investment and Economic Relations and also explore new opportunities for industries in Visakhapatnam for collaboration with UK.

Visakhapatnam, with its talent pool and a major port and steel plant, offers huge opportunities for British companies to invest and the domestic companies can also have a fruitful partnership with their UK counterparts, according to Hyde.

He said here that among tier-two cities, Visakhapatnam was the most attractive destination, as "already big companies such as HSBC have set up centres here. However, there is little awareness among the British companies about the advantages of Visakhapatnam. They were concentrating only on Hyderabad, and from now on "we will try to promote Vizag as a city with great future."

He said he had held discussions with the local industrialists, academicians of Andhra University, Geetam University and the IT professionals. "We have identified sectors such as pharmaceuticals, fisheries, granites and mining, education, IT and oil and gas, where the Indian and UK companies can collaborate.

The British Government does not have the intention of investing in any of these sectors. It will only play the role of a facilitator. We will bring trade and industry delegations from the UK to Vizag to apprise them of the opportunities here," he said. (ANI)

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