Financial Daily from THE HINDU group of publications
Sunday, Feb 24, 2002
Financial Daily from THE HINDU group of publications Sunday, Feb 24, 2002 |
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Industry & Economy
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Foreign Trade Britain plans 3-fold hike in aid to India Our Bureau
KOLKATA, Feb. 23 BRITAIN has proposed a three-fold increase in its aid to India over the next couple of years. British aid, which currently stands at around £100 million, is likely to be increased to about £300 million by 2004. According to Mr Ben Bradshaw, British Foreign Office Minister, India will be able to attract this increased assistance on the basis of more effective national-level policies. A critical part of this programme will be earmarked for West Bengal, one of the few `partner' States identified by the UK authorities in India. British aid to West Bengal is now in the region of £15-20 million, which has largely been spent on sectors such as health and education. The UK-India bilateral trade stood at £4.9 billion in 2000, representing a 68 per cent growth since the formation of the Indo-British Partnership in 1993. UK is India's second-largest trading partner, accounting for 5.7 per cent of the country's total foreign trade in goods in 2000-01.
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