UK India Business Council welcomes election result

May 18th, 2009 - 8:14 pm ICT by IANS  

Manmohan Singh London, May 18 (IANS) The UK India Business Council Monday welcomed the outcome of the Indian elections, saying it bodes well for the Indian economy.
“The markets have given their verdict - a 17 percent increase in stock prices today,” the group said in a statement.

It said the prospect of Manmohan Singh continuing as Prime Minister “has given confidence that India will continue its reform agenda, which we believe will lead to further deepening of the UK-India trade and investment relationship.

“The UKIBC has tremendous faith in India’s future as a large, developed and innovative economy. We will continue to work with Indian and British partners to support the development of our bilateral trade and investment relationship,” it added.

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