London, July 01: India has become the preferred global hub for software development and business process outsourcing and UK has benefited substantially from tie-ups with Indian IT enterprises, Mike O'brien, British minister for foreign and commonwealth office has said. "UK companies realises the benefits of outsourcing from India, which has become the preferred global hub for software development and business process outsourcing," O'brien said in his key note address at a one-day joint symposium on "international business perspectives of India: 2003 and beyond."

O'brien said tie-ups between the UK and Indian IT enterprises lend the former substantial benefits "not only in terms of lower costs, but also in the quality and speed of marketing, as well as helping to build new businesses."

Commonwealth business council, London Stock Exchange and the confederation of Indian industry organised the symposium attended by leading industrialists from India and the UK yesterday.

Prominent speakers at the symposium included Rahul Bajaj, co-chair, CBC, and chairman, Bajaj Autos, Anand Mahindra, president, CII, N K Singh, member, planning commission, N A Narayana Murthy, chairman, Infosys, Udayan Bose, chairman, Lazard India and Richard Heald, joint CEO, ABN Amro Rothschild.
Bureau Report