India and United Kingdom in the third week of June 2013 decided to develop the Bangalore-Mumbai Economic Corridor project
in close association with private companies from Britain. The decision
on taking the project, which had been outlined both by Prime Minister
Manmohan Singh and British Prime Minister David Cameron in February this
year, was taken at the meeting of Commerce and Industry Minister Anand
Sharma with UK’s Secretary of State for Business, Oliver Letwin during
his recent visit to London.
The corridor project was outlined in February 2013 during the visit
of British Prime Minister David Cameron to India. A Joint Study group
would work out the details of execution of this prestigious project.
Bangalore-Mumbai Economic Corridor project could be highly profitable
given the importance of Mumbai as financial centre, Pune as automobile
manufacturing centre and Bangalore as IT and Technology Hub.
Moreover, UK India Business council and the Invest India signed a
Memorandum of Understanding to increase investments in India as well as
to collaborate for providing UK business information on investment
opportunities. Invest India is a joint venture of the DIPP, State
governments and the Federation of Indian Chambers of Commerce and
Industry (FICCI).
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