Chancellor George Osborne has hailed Narendra Modi’s new administration in India for working to attract investment into the country, telling an audience in Mumbai that “good days are coming”.
In a speech in which he announced a number of new trade deals between the UK and India, the chancellor praised the close ties between the two nations, ahead of an announcement today would will see UK export finance used to support greater infrastructure growth in the country.
“India is embarking on an exciting journey of reform under your new government,” Osborne said yesterday, adding: “I believe there to be no more reliable companion on that journey than the United Kingdom.”
The chancellor is on a trade visit to India with foreign secretary William Hague and MP Priti Patel. It follows a deal which will see India buy military equipment from the UK. Osborne met the nation’s highly regarded Central Bank governor Raghuram Rajan yesterday and is meeting his Treasury counterpart Arun Jaitley and controversial new Prime Minister today.
Concerns over Modi’s record on human rights have been raised in recent weeks, and the UK Prime Minister’s spokesman said yesterday that no subject would be off the table when asked if the chancellor would be raising human rights issues when the two meet.