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'Auto sector growth key to boosting Indo-UK trade'

British High Commissioner to India Sir Rob Young has said that the development of the automobile sector was a key to increasing the trade between India and the United Kingdom.

He was speaking at the Foresight Vehicle seminar organised during the Auto Expo 2002, organised by the Confederation of Indian Industry, the Automobile Component Manufacturers Association of India, and Society of Indian Automobile Manufacturers.

Indo-UK bilateral trade remained healthy despite the September 11 events and the general global economic slowdown with total trade between the two countries amounting to $8 billion. The trade between India and the UK had doubled since 1993 with 25 per cent increase in year 2000, said Sir Rob.

British companies have entered into more than 1,500 partnerships in India, while there are more than 250 Indian companies in the UK, he added.

Expressing hope that the upward trend in bilateral trade would continue, Sir Rob said that the commercial relationship mirrors the political relationship shared by the two countries in terms of democratic values and people-to-people links.

India had a strong potential and provided an exciting target for British companies, he said. The UK auto industry was worth £40 billion employing more than a million people with 17 of the top 20 global auto majors had set up their bases in Britain.

Also speaking on the occasion, Jagdish Khattar, managing director of Maruti Udyog Ltd, said that the auto industry in India had 35 major vehicle manufacturers. With environmental concerns gaining importance the auto industry had committed to higher standards of environment and safety with improved engine technology and use of catalytic converters.

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