SOURCE: Express News Service
UK-based companies are keen to invest in the defence sector in India and are exploring opportunities for trade, said Oliver Ballhatchet, British Deputy High Commissioner to Chennai on Thursday. And Tamil Nadu, which has a defence industrial corridor, remains on the priority list of British companies, he added.
“India’s move towards self-reliance in defence matches the UK’s ambition as a global trading nation. We have high hopes that the UK and India can co-develop intellectual property in strategic capabilities to the benefit of both nations,” said Ballhatchet.
He added that UK and India share strong and historic military ties. “In recent times, three high-profile defence personnel from UK visited India. The UK wants to create future technologies in and with India,” he said, claiming that there are already exciting proposals in the near horizon.
Ballhatchet also stressed that Tamil Nadu holds significance for them since many British companies are already operating in the state and working closely with TN-based companies in automotive, electric vehicle, advanced engineering, fintech sectors.
UK wanted to strengthen these ties further, he said, adding that UK-based companies are keen to invest in the renewable energy sector, especially in the offshore wind energy segment. He also claimed that the newly introduced points based immigration system, which levels the playing field globally, will be to India advantage.