Karnataka delegation to visit UK for 3 days from Nov 24 to attract investments
Bengaluru (PTI): Karnataka Minister for Large and Medium Industries M B Patil on Thursday said that he will visit London with a high-level delegation from November 24 to 26 to attract investments from leading UK-based companies.
He held discussions with Seema Malhotra, the UK Minister for Commonwealth Affairs and Development, and Linda Cameron, the British High Commissioner to India, who met him here.
Patil noted that the Free Trade Agreement (FTA) signed between India and the United Kingdom earlier this year has created a favourable environment for investment.
During his London visit, the delegation will meet the heads of major companies such as Element-6, ARM, Linde, Martin-Baker, Fido AI, Oxford Space Systems, Green Jets, Nanopore Tech, Group Rhodes, The Senator Group, The Latos Group, Samco Holdings and others, he was quoted as saying by his office in a release.
Karnataka aims to strengthen economic ties by encouraging UK companies to invest in the State, the minister said, key focus sectors include higher education, technology exchange, high-tech manufacturing, aerospace, defence, electric vehicles, clean energy, and research-driven industries.
As part of this effort, the delegation will participate in a meeting organised by the UK-India Business Council on November 25, he added.
Officials from the UK informed the minister that The King's School, Canterbury--one of Britain's oldest educational institutions--will open its Bengaluru campus from the 2026 academic year. Similarly, RGS Guildford, which has partnered with the Mumbai-based Ryan Educational Group, will start its campus in Bengaluru from 2028. Both institutions will follow the 12-year British curriculum.
Patil said that it is heartening that the University of Liverpool has already opened its campus in Bengaluru, and expressed confidence that many more universities will set up their presence in Karnataka in the coming years.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Rupee falls 9 paise to all-time low of 90.58 against US dollar in early trade
Mumbai (PTI): Rupee depreciated 9 paise to an all-time low of 90.58 against US dollar in early trade on Monday, weighed down by uncertainty over an India-US trade deal and persistent foreign fund outflows.
Forex traders said rupee is trading with a negative bias as investors are in wait and watch mode and awaiting cues from the India-US trade deal front.
At the interbank foreign exchange market, the rupee opened at 90.53 against the US dollar, then fell further to an all-time intraday low of 90.58 against the greenback, registering a fall of 9 paise over its previous close.
On Friday, the rupee had slipped 17 paise to close at an all-time low of 90.49 against the American currency.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.05 per cent lower at 98.35.
Brent crude, the global oil benchmark, was trading higher by 0.52 per cent at USD 61.44 per barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index Sensex was trading 298.86 points lower at 84,968.80, while the Nifty was down 121.40 points at 25,925.55.
Foreign Institutional Investors sold equities worth Rs 1,114.22 crore on Friday, according to exchange data.
"FPIs continue to be in selling mode in equity and debt while RBI has been selling dollars to fund their long positions," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.
