UK Secretary of State for International Development Priti Patel, who was on a three-day visit to India, said that India has become a more attractive investment destination as the Goods and Services Tax (GST) bill will make doing business much easier now.
She said, "That is an important piece of reform, because it speaks to the agenda of ease of doing business in India, which for British companies and for Foreign Direct Investment is incredibly important, because India has made great progress not only for GST, but also on the ease of doing business. You know (it) makes India more attractive when it comes to investment opportunities and also for business to business relationship."
Later, pitching about the UK's role in aiding the development of smart cities in India, she said, "The British government has already given its indication of smart city development in Pune, Indore and Amravati as well. I met the minister for urban development and we discussed the assistance of my department and my government on technical support around the whole process of smart cities." She said Indian businessmen are very positive about exploring new opportunities as Britain now has a new government department for international trade.
She also met Prime Minister Narendra Modi. "We spoke very much about the strength of the strategic UK-India relationship, where we are working in collaboration on skills in particular urban development and smart cities," she said. "During my visit, I spent a lot of time with the business community here in India and I could tell you, they are pretty positive and encouraged by what would follow because my prime minister, of course, has established now a new government department on international trade, which for India would mean new trading opportunity, more commerce opportunities and more business opportunities, which would be really important and good for India, good for the economy in India and in the long term good for jobs and development opportunities."
At the end of her visit, Priti said both the countries are deepening their strategic partnership in areas like financial services, investment, and skills-sharing to benefit both economies. After meeting a range of Indian government ministers, including finance, urban development and external affairs, Patel stressed that Britain is open for business and remains outward-looking and engaged internationally.
"The UK and India have a strategic partnership built on a shared history, immensely strong people-to-people ties and democratic values. The government wants to deepen these bonds further, to grow our economies and boost trade and investment in both our countries. I discussed with Prime Minister Modi, who set out his ambitious vision for our relationship when he visited the UK last year," Priti said.
She added, "As India develops into a major and growing economy, it is absolutely right that UK support, including that provided by my department, has moved away from traditional financial aid, which ended last year, to technical assistance and sharing skills and expertise. Britain is an outward-looking and global nation and her department will continue to support UK's trading partners of the future, working closely with the Foreign and Commonwealth Office and the new Department for International Trade, and creating opportunities for British businesses too."
