The UK India Business Council (UKIBC) and Telangana government’s Industries and Commerce department have renewed a memorandum of understanding (MoU) that seeks to bolster business ties, accelerate improvements in the ease of doing business and expand collaboration in higher education.
The MoU was signed at a virtual round table by Industries Secretary Jayesh Ranjan and UKIBC managing director Kevin McCole.
On the occasion, Deputy High Commissioner in British Deputy High Commission, Hyderabad, Andrew Fleming said the MoU’s renewal was timely as it came in the backdrop of an announcement about resumption of inbound direct British Airways services from London in a week.
Expressing confidence that the MoU would enhance trade and investment between Telangana and United Kingdom, he said international cooperation was the only cure for COVID-19. “In responding to the challenges of the current pandemic my government is committed to building back lives and businesses better. This vision is shared by our friends in Telangana...” he said.
A statement on the MoU signing said the collaborative partnership between the United Kingdom India Business Council and the Telangana government was well-established and already led to two United Kingdom business delegations to the State and a further delegation of leading UK universities.
‘Dynamic leadership’
Mr.McCole said the memorandum of understanding would extend and deepen the existing strong partnership.
“The State has dynamic and impactful political and bureaucratic leadership, which is one of the reasons why the UKIBC is so keen to engage and why so many UK businesses want to enter and expand their investment in the State,” he said. Mr. Ranjan said “we are pleased to renew this agreement with UK India Business Council. The existing MoU over the past year has seen multiple UK delegations, resulting in business and higher education partnerships. UK and India share great synergies in trade and investment which have only grown in recent years.”
Telangana’s multiple investment-promotion schemes, along with its business-friendly regulatory environment and resolution of pandemic-related business activities, acted as a major attraction for the UK based entrepreneurs and corporates, he said.
