Blair for stronger bilateral relations, stresses on IT

India's success story in the field of IT and sciences found another admirer in Tony Blair, UK's Prime Minister, when he praised the country's leadership position in the field of IT and Biotechnology. Blair was giving his inaugural speech at the CII Partnership Summit in Bangalore. He stressed on the need for stronger bilateral trade between the two countries and promised measures for the same on behalf of his country.

"India should be proud of its global leadership position in cutting edge technologies such as IT and Biotechnology along with its rich cultural values and business fundamentals. As some simple rules, I have found that an open economy for free movement of goods and services in trade, financial discipline, encouraging business climate for entrepreneurs and quality education can help a country achieve enduring success in gaining economical stature. Along with this a good governance and democracy's work functioning would help people reach out for their rights and duty of contributing for the betterment of their country. This should also help nations find a place in the globe and that is an important rule of success," said Blair.

UK is India's second largest trading partner with a 6.4 percent of the market's bilateral trade in goods and services in 2000 well over sterling pounds four billion from the 1993 figures of sterling pounds 1.3 billion. In the recent times UK has been looked upon for most of the IT companies as their corporate headquarters to address the European market. Stepping up marketing efforts in that region has paid rich dividends for software companies like TCS, Infosys, Wipro, Satyam winning a number of orders and increasing their exports share to that region.

Currently there are about 7,000 Indians studying in the UK and this is expected to go up to 12,000 by 2005. Indians made up 63 percent of the total number of foreign nationals granted permission to enter the UK on basis of IT qualification in the year 2000.