British Chancellor of the Exchequer George Osborne is calling for better economic ties with India. He says Britain is open for business with Indian investors, business ventures and service providers.
Osborne rang the opening bell at the Bombay Stock Exchange on Wednesday. He's in India along with a delegation accompanying Prime Minister David Cameron. Osborne expressed his desire for British companies to participate in India's infrastructure development and bring technology to help India's rural areas.
He also invited Indian bankers to be listed in the UK and set up branches. There is an expectation that India will further open its insurance market.
George Osborne, UK Finance Minister said "We believe we can help India to finance infrastructure it needs over the coming ten years. Also, we believe we can help rural India to connect even better to the global economy. We also believe that Indian banks and Indian financial institutions have a huge amount to offer to the United Kingdom, and we particularly welcome the listing of Indian banks in London and the establishment of headquarters by Indian banks in London."