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Posted on Nov 28, 10:15AM | UNI
The Federation of Andhra pradesh Chambers of Commerce and Industry (FAPCCI) and London Chamber of Commerce and Industry (LCCI) today signed Memorandum of Understanding (MoU) to foster friendship and pursue trade and investment opportunities.
The MoU was signed by FAPCCI President Mr Devendra Surana and LCCI Chairman Subhash V Thakrar in their respective economic regions by developing a friendly and cooperative relationship. Speaking on the occasion, Mr Thakrar stated that their main mission is to promote London as the destination of choice for investors and international trade.
He mentioned that India is the world's second fastest growing economy, experiencing rapid urbanization and a growing consumer class.
The Indian government has a target to invest 1 trillion dollar in infrastructure projects over the next five years, he said this all presents huge economic opportunities for London, both in attracting investment into the city and exporting goods, services and skills.
For the last three years, India has already been among the top four global investors into London and the country's leading multi-nationals are already major employers in the UK, the Chairman added.