UK favoured destination for investment

Aurangabad, July 18:

“The United Kingdom (UK) government has eased the taxation, licensing and legal procedure and hence the Indian businessmen are preferring London as the favoured destination for investment”, opined Deputy Director, Trade & UK Exports, South Asia, Ajita Hathlia.

She was speaking during a seminar on ‘Trade, Investment and Financing Opportunities from the UK’ organised by the British Deputy High Commission (BDHC), Mumbai and Confederation of Indian Industries (CII) here on Monday. The BDHC delegation included Hathlia, Avnish Malhotra, Rahul Tabhane and Abhishek Jha.

Hathlia further said, the British Deputy High Commission at Mumbai is encouraging, and assisting the Indian investors to expand their business in the UK. The preferred destinations are London, Manchester, and several other cities in the UK. A seminar has been organised in Aurangabad to inform the industrialists about the trade and investment opportunities and the procedures, she said.

Future Mobility Specialist & Head British Trade Office Pune, Avnish Malhotra briefed the audience on the Future Mobility opportunities and scope for the automobile industry in the UK. “Considering Aurangabad as one of the automotive hubs of Maharashtra there are ample opportunities for the SME/MSMEs for the expansion and tie-ups with the UK companies. The UK automobile market had excelled despite the Corona crisis, he said.

Jha said that the health care and life sciences industries had ample opportunities. The Serum Industries had collaborated with the UK government for the Covid vaccine manufacturing and research and development. Similarly, several scholarships are provided to students and professionals.

Country Head - India, UK Export Finance, Rahul Tabhane discussed UK's Export Finance Offer for Indian SME/MSME Companies.

Vice chairman, CII Marathwada Zone and Sr. Vice President Siemens Ltd, Samit Sachdeva made a welcome speech while Amol Mohite proposed a vote of thanks. CII members and industrialists were present.