Lord Dholakia
Main Page: Lord Dholakia (Liberal Democrat - Life peer)
Lord Popat
My Lords, the department, through UKTI, is pursuing actively the sale of more defence equipment abroad but, when it comes to buying equipment for UK security, it is up to the Ministry of Defence to make those decisions. There must have been a business case to secure defence equipment from abroad.
Lord Dholakia (LD)
My Lords, we are delighted with the recent visit of George Osborne, the Chancellor of the Exchequer, and the former Foreign Secretary, William Hague, to India. There are further visits planned by Nick Clegg and Vince Cable. How are we monitoring the situation relating to British exports to that country? What has been the impact of those discussions so far?
Lord Popat
My Lords, we look at emerging markets very carefully, particularly the BRIC markets and especially India and China. In fact, both the Chancellor and the then Foreign Secretary were in India meeting the new Prime Minister, Narendra Modi, to see what we can do to export more to India. Our trade with India is to the tune of about £17 billion now in a two-way bilateral relationship. This is the area we want to increase year after year. Our target for 2015 is £25 billion.