India credit line from Obsorne

CHANCELLOR George Osborne announced yesterday that a £1bn credit line would be opened for invest­ment in Indian infra­structure, during his trip to the country.

The line with be available “where there is some British content”, said to Osborne, adding that he wanted to build a better economic and financial relationship with the massive developing economy.

The pledge comes ahead of new Indian Prime Minister Narendra Modi’s first budget tomorrow.