Recent deals worth£9-billion signed between India and the UK have led industry experts to believe that this surge in foreign investment would act as an impetus to the development in India. Atul Punj, Chairman, Punj Lloyd Group, believes that for India, it is important to maintain healthy international relations, especially in times when the Indian economy is growing substantially.
A spokesperson for Punj Lloyd said, “India is one of the biggest markets in the world. It is necessary for the country prove its mettle on a global scale by signing important deals with developed nations. With the UK being the largest European investor in India and India being the second largest investor in the former, it has become imperative for the two countries to reach a better accord, especially when Indian economy is on a growth trajectory.”
In three days, 27 deals amounting to £9-billion were sealed between the two countries. Deals were signed for various sectors including energy, finance, IT, education, logistics and health sector. But more than the deals, what this visit has achieved for India is the revival of cordial relations with the UK. Ever since David Cameron came into power six years ago, he had been trying to maintain maintaining healthy relations with India. This visit from Indian PM has established that the feeling is mutual.
The much criticized visit of the Indian PM,Narendra Modi to the UK proved of greater value, especially in the wake of the recent developments between the UK and China where deals amounting to £40-billion were signed during Chinese President Xi-Jingpin’s visit to the UK.