Indo-UK trade likely to double to 23 billion pound by 2015

GUWAHATI: Trade between the UK and India is growing at a rate of 23 per cent annually and is expected to double to 23 billion pound (over Rs 2.36 lakh crore) by 2015, a top UK government official said today.

"India and the UK are emerging as very strong economic partners. Trade between Britain and India has grown robustly since 2010 at an average of 23 per cent per annum," British Deputy High Commissioner to Eastern India Scott Furssedonn- Wood said at a seminar here.

The UK government is determined to closely work with its Indian counterpart and build a strong relationship between the two countries, he said. "Our aim remains to double bilateral trade to 23 billion pound by 2015. Investment is also growing."

The UK is the third largest investor in India, while it is fifth largest in case of India's position in the UK, he added.

"British oil major BP is the largest single investor in India and Vodafone is one of the very largest," Wood said.

He said the Tata group is the largest manufacturing employer in the UK with about 45,000 people on its rolls. "The group has invested generously in the ingenuity of its R&D centre in Coventry," he added.