Press Information Bureau

Government of India

Ministry of Finance

09-February-2012 21:00 IST

The Union Finance Minister Shri Pranab Mukherjee had a telephonic conversation with Mr. Andrew Mitchell, Secretary of State for International Development of UK today. Both the leaders discussed the recent media reports in UK regarding the India-UK Development Cooperation Partnership. India and UK had mutually agreed in July, 2011 to continue the Bilateral Development Cooperation Programme in India till 2014-15. The same was also mentioned in the Joint Press Statement released after the visit of the Indian Finance Minister Shri Mukherjee to UK in July, 2011 and reiterated in the Joint Press Statement issued during the visit of Secretary of State, Mr. Andrew Mitchell to India on December 16, 2011.

The Finance Minister Shri Mukherjee stated that India and UK share historical ties and have warm and friendly relations. The relationship between the two countries has been strengthened further by the Indo-UK Bilateral Development Cooperation Programme which is mutually beneficial to the two countries. The two Ministers expressed satisfaction with the progress of developmental cooperation activities and also appreciated the recently introduced component of Private Sector Development initiatives through Government Sponsored Institutions.

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DSM/SS

Bilateral development cooperation reaffirmed; partners endorse private sector development through government-sponsored institutions. The ministers reaffirmed continuation and shared management of the Bilateral Development Cooperation Programme, confirmed periodic review and coordination through joint statements and institutional mechanisms, and noted satisfaction with operational progress. They highlighted the Programme's recently introduced Private Sector Development component delivered through government-sponsored institutions and described the partnership as mutually beneficial.