LONDON, September 27 /PRNewswire/ --

- UK India Business Council Officially Launched by Digby, Lord Jones of
Birmingham, UK Trade and Investment Minister

The UK takes a major step towards cementing closer business, investment
and trade ties with India on a bilateral level with the official launch of
the UK India Business Council (UKIBC), at the UK Trade and Investment Awards
today in Mumbai, India.

(Photo: http://www.newscom.com/cgi-bin/prnh/20070927/275176 )

Being officially launched by Digby, Lord Jones of Birmingham, currently
the UK's Trade and Investment Minister, the UKIBC is the lead organisation
supporting the British Government in the promotion of bilateral trade between
the two countries. In 2006, UK India bilateral trade increased significantly
to GBP8.74bn from GBP7.9bn in 2005.

UKIBC will seek to play an influential role in creating and sustaining an
environment in which free-trade and investment flourishes. A key objective in
this regard will be the highlighting, and dismantling, of bureaucratic and
regulatory barriers to entry.

The UKIBC is supported by an annual budget from HM Government of GBP1m,
with the organisation due to raise additional funding through its own
activities.

Digby, Lord Jones of Birmingham, Trade and Investment Minister, said:

"The Government has rightly given the UKIBC the proper recognition and
funding to really drive forward bilateral trade between the UK and India. It
is a fantastic vehicle for giving British business practical assistance and
also access to key Indian policy makers to help deepen their understanding of
the massive opportunities."

"I congratulate all those such as Lord Karan Bilimoria, who have put so
much effort into building this organisation up. It really does have the most
brilliant heritage and I have every confidence that it will make a real
difference in developing our businesses relationship with India."

UKIBC Chief Executive Sharon Bamford, who will work closely with the UK
and Indian governments, alongside UK Trade and Investment and the Indian High
Commission in London, commented:

"UKIBC will bring focus to the UK's engagement with India and greatly
enhance bilateral trade and investment between our two great nations. Through
the facilitation of partnerships, and with the support of an extensive
network of influential corporate and individual members, UKIBC will provide
the resource, knowledge and infrastructure vital for UK companies to make the
most of the business opportunities in India, and for Indian companies to
invest in the UK."

As part of its mandate, UKIBC has also hosted a number of events in
London including a luncheon for senior members of British PLC with Mr P
Chidambaram, Finance Minister, Kamal Nath, Minister of Commerce & Industry, a
lunch reception for Ms Ambika Soni, Union Minister for Tourism and Culture,
Government of India with representatives of the tourism and cultural
industries in the UK. On Friday 28 September will be holding a luncheon
discussion with Dr. D. Subba Rao, Finance Secretary, and a senior delegation
from The Ministry of Finance, Government of India.

Notes to Editors

Below are the prime objectives of the UK India Business Council

- To be recognised as the first "point of reference" for any UK
company looking to trade with or invest in India, and vice versa.

- To create a networking forum open to British companies or
individuals interested in trading with, or investing in, India.

- To facilitate introductions between UK and Indian companies,
fostering two-way trade.

- To provide incisive and "thought-leading" research on macro
political, economic and social issues, engendering a greater
understanding of bilateral trade and investment opportunities.

- To provide practical support and information for UK companies
seeking opportunities in the Indian market.

- To directly assist the governments of the UK and India in
building and developing bilateral trade and investment opportunities,
primarily through its active participation in the Joint Economic Trading
Committee (JETCO) and through promoting the interests of British and
Indian inward investment industries.

- To participate in high level inter-governmental ministerial
meetings or delegations to India.

Fast Facts: India UK Trade and Business

- UK India bilateral trade in 2006 was GBP8.74bn up from GBP7.9bn
in 2005

- UK Exports of Goods to India were GBP2.69bn and service exports
to India were GBP1.42bn

- UK Imports of Goods from India were GBP3.34bn and service
exports to India were GBP1.49bn

- Chief UK exports to India are Non-metallic minerals (diamonds),
gold, power generating and telecoms equipment, and industrial machinery

- UK Imports from India include Textiles, gems and jewellery,
footwear, metal manufacturers, organic chemicals, vegetables and fruit

- UK has the third largest share of cumulative Inward investment
into India at $3.6 billion after Mauritius (OCB investments) and USA

The UKIBC is supported by UK Trade and Investment (UKTI).

For more information on UK India Business Council, please visit
http://www.ukibc.com

For more information please contact:

    To speak with UK India Business Council Chief Executive Sharon
    Bamford at the UK Trade and Investment Awards on Thursday 27 
    September please contact:

    Harshad Bhagwat
    mobile phone: +91-9821271514

    For other enquiries please contact:

    Belinda Morris:
    College Hill
    +44-(0)-207-457-2020,
    belinda.morris@collegehill.com

    Helen Carnall:
    College Hill
    +44-(0)-207-457-2020,
    helen.carnall@collegehill.com