There is no secret that Britain is doing it tough. It is a logical step for Britain to strengthen economic ties with India. Britain has a huge budget deficit and has embarked on tough austerity measures. British GDP growth is expected at 1.2 percent for the year. India by comparison is facing 8.5 percent growth.
Prime Minister David Cameron is looking for Britain to strengthen economic ties with India. India was a former British colony and the major common ground is cricket in modern times. The United States is the largest investor in India, mainly in IT, software and business services. Cameron intends to change all that as he leads a trade delegation to India that dwarfs any since India’s independence.
India has been a standout recovering from the financial crisis and leading the way in innovation in many industries. Millionaires in India along with millionaires in China and Brazil are out pacing Europe. These are the pillars of the BRIC group of nations. Russia is the fourth. Britain is looking to increase trade ties and stimulate economic growth in new areas as the Euro debt crisis bites. Britain has called for action on the stalled free trade agreement between India and the European Union. The BP oil spill in Gulf of Mexico has not helped American ties so the obvious move is the emerging nations. This is what we have seen as Britain moves to strength economic ties with India.
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