Government of Tamil Nadu and UK India Business Council sign MoU to strengthen the state’s industrial development

By UK India Business Council (UKIBC)

Chennai, February 16, 2021: The UK India Business Council (UKIBC) signed a Memorandum of Understanding (MoU) with Guidance Tamil Nadu, the premier agency focused on accelerating industrial development in the state of Tamil Nadu.

This collaborative partnership between the UKIBC and Government of Tamil Nadu will help to boost business and industrial development in the state. It will also aim to proactively enhance the business environment and strengthen collaboration with British businesses in Tamil Nadu.

The MoU was signed by Dr Neeraj Mittal, Managing Director and CEO, Guidance Tamil Nadu and Mr Jayant Krishna, Group CEO, UKIBC in the presence of Hon’ble Chief Minister of Tamil Nadu, Thiru Edappadi K Palaniswami, Ministers and senior bureaucrats in Chennai.

Speaking on the occasion, Jayant Krishna, Group CEO, UKIBC, said, “Tamil Nadu’s industry-friendly policies, geographical advantage and focused effort of the state Government has helped UK companies tackle the pandemic.  This has happened due to the steps taken by the govt to reboot the economy and support economic activities in the state. The MoU signed today is another example of collaboration between the UK and India to strengthen our partnership. This will further deepen UK’s ties with India’s second highest GDP ranking  state by fostering strong business trade and investment relationships”.

Tamil Nadu is one of the leading industrialised states in India and has been successful in providing the needed economic and social infrastructure to the UK companies. This is well reflected by the prominent presence of UK trade and investments into Tamil Nadu.

The signing of the MoU came after multiple interactions between Guidance, UKIBC and British businesses including a closed-door roundtable earlier in January 2021. These interactions have helped British businesses understand the evolving policies and business eco-system in the State including the initiatives to tackle the ongoing global crisis of COVID-19.

Mr Oliver Ballhatchet, Deputy High Commissioner, British Deputy High Commission – Chennai mentioned, “I’m delighted that the Tamil Nadu Guidance Bureau and the UK India Business Council are signing this MOU. The British Deputy High Commission team look forward helping to deliver even more business between the UK and Tamil Nadu”.

UKIBC will also support interactions between UK businesses and the State Government to provide direct feedback from business on the ease of doing business, market access and other relevant issues which can further bolster business confidence and enhance the operating environment for doing business. These interactions will take the form of dialogues, annual ministerial meetings and various delegation visits.

UKIBC will also work towards future investment opportunities, strengthening its relationship with state government, supporting its members in addressing their key asks and smoothing investor interactions in different markets.

 

Notes to Editors:

About the UKIBC

The UK India Business Council (UKIBC) is the premier membership-led organisation supporting the promotion of trade, business and investment between the two countries. UKIBC plays an influential role in creating and sustaining an environment in which trade and investment flourishes. Through its insights, networks, policy advocacy, services and facilities, the UK India Business Council supports UK businesses to achieve success. Find out more by visiting www.ukibc.com and following @UKIBC on Twitter.


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