FDI sensitive, but to India's benefit: UK Inc

The influential Confederation of British Industry today said announcements on FDI in India were "good news" and would ultimately benefit Indian citizens even though the decisions were politically sensitive.

Updated: Sep 14, 2012, 23:59 PM IST

London: The influential Confederation of British Industry today said announcements on FDI in India were "good news" and would ultimately benefit Indian citizens even though the decisions were politically sensitive.

Rhian Chilcott, Confederation of British Industry (CBI), International Director said: "Foreign direct investment can help bring new capital, skills, jobs and technology into India, so this announcement is good news".

"While we understand the political sensitivities around these decisions, we believe that they will ultimately benefit the citizens of India," she said.

"It will be important to see the detail behind this and follow the implementation closely, as this will be critical to success," Chilcott added.

A key organisation in Britain's trade and industry, CBI represents more than 240,000 companies, including many?in the FTSE 100 and FTSE 350, mid-caps, SMEs, micro businesses, private and family owned businesses, start ups, and trade associations.

PTI