NOTTINGHAM LOOKS TO DOUBLE INDIAN BUSINESS ACTIVITY IN 5 YEARS The Hindu BusinessLine: June 23, 2014 Aiming to double Indian business activity in Nottingham, the European city is looking at focussed business initiatives with Punjab, Haryana and Chandigarh and attracting more investment from Indian investors. Nottingham is among the eight core cities in the UK. We want to create an investment bridge with these Indian States and build business ties for mutual benefit. We want to focus on four key sectors – housing, transport, waste treatment and energy generation, David Bishop, Corporate Director, Development, Nottingham City Council, told BusinessLine . Nottingham has the same city development issues, he said, adding that it is also in talks to boost food processing in Haryana. A six-member delegation is currently here looking at trade tie-ups with these State Governments as well as private companies. We are also focussing on new economy sectors such as clean technology, creative digital and life sciences and we can help Punjab and Haryana in these areas, he said. Nottingham has a GDP of £12 billion of which Indian companies contribute about £1 billion. We are looking at doubling the Indian business activity in our city by the next five years. On why Indian companies should invest in the city, Bishop said, While the UK is considered the best country to do business among all European countries, commercial property is 50 per cent cheaper in Nottingham compared with London, apart from housing a strong Indian business community. From April 2015, UK has the best corporate tax regime among G20 countries at 20 per cent. Apart from business, the council is also in talks with the University of Punjab to boost student exchange programmes with universities in Nottingham.
Posted on: Mon, 23 Jun 2014 06:57:41 +0000
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