'Huge potential for India-UK cooperation in services sector'
London: India and the UK can work together on manufacturing and developing global supply chains for the future and the services sector has a "huge" potential for several areas of collaboration, Union Minister Suresh Prabhu said here today.
Addressing an industry round-table co-organised by the Confederation of Indian Industry, Confederation of British Industry, UK India Business Council and the High Commission of India, the Commerce and Industry minister welcomed greater UK investments while sharing the latest economic developments and reforms underway in India.
"The services sector presents huge potential with several areas of collaboration for India and the UK. The two countries could also work together on manufacturing, developing global supply chains for the future," he said.
"Given the transformational nature of new and dynamic technologies, we must keep in view that disruptive change can also be constructive," he added. Prabhu asked investors to persistently work on their concerns to ensure an enabling environment.
He said there were "significant" innovation opportunities that the two countries can leverage. "Artificial Intelligence, genomics, microbiomics, advanced materials and clean energy are transforming the future and how we look at business for addressing global, socio-economic challenges in India," he said.
"With UK's prowess in the R&D ecosystem, there are significant innovation opportunities that the two countries can leverage," he said. India's UK High Commissioner Y K Sinha and several officials from the UK Government and British High Commission joined the discussion.