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Visiting British Prime Minister David Cameron has clearly ruled out the return of the Kohinoor diamond to India, saying if such demands were agreed to, it would lead to empty rooms in the British museums.
“I know there is a great argument about the original provenance of the Kohinoor diamond. I’m afraid this will disappoint viewers, but it’s going to have to stay put,” Cameron said.
The issue about the fabled diamond, which was mined in the deccan and is now part of the British crown jewels, had been raised by British MP of Indian origin Keith Vaz just before Cameron began his two-day visit to India.
Vaz had said in a statement, “I believe that this is the perfect opportunity for the Prime Minister to discuss the issue of the Kohinoor. It would be very fitting for the Kohinoor to return to the country in which it was mined.”
Cameron, however, pointed out that the return of the diamond would set a precedent, which could lead to the emptying of museums in Britain. “What tends to happen with these questions is that if you say yes to one, you suddenly find the British museum to be emptied,” he asserted.
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...Calls For Opening Financial And Retail Sectors Further
Eyeing Indian markets to accelerate economic growth back home, British Prime Minister David Cameron today pitched for further opening up of financial services and retail sectors by India, saying the move will benefit both the countries.
“Just as we in Britain are very open economy welcoming investment, you too are here in India as well. In banking, insurance and retail, there are further opportunities for openness that will benefit both the countries,” Cameron said at a panel discussion on Indo-UK trade here.
He said these kinds of decisions are sometimes difficult to take as they require taking on “vested” interests.
“We are keen to discuss these issues with our Indian friends and colleagues... We have strong financial, insurance and banking services,” he said.
A Bill to hike FDI in insurance from the current level of 26 per cent to 49 per cent is pending in Parliament. Another legislation to increase voting rights of foreign entities in private sector banks is also pending.
In retail sector, India allows 51 per cent FDI in single brand retail sector, but multi-brand retailing is a closed sector for foreign investment.
Cameron said his country is re-building some of its manufacturing industries, for which investment from India would be welcome.
The British Prime Minister sought India’s help to expand economies in Europe, where some of the countries are facing the sovereign debt crisis.
“... We have to go with friends, including India ... how to bring what we think will be the biggest stimulus to our economies which is expanded trade, completion of Doha Round, looking at investment in each other countries,” he said.
Britain is witnessing sluggish recovery after being hit by global financial meltdown in 2008-09. Faced with spiralling fiscal deficit, the UK government has resorted to massive austerity measures. Its economy grew by just 1.1 per cent in the second quarter of 2010 after clocking 0.3 per cent expansion in the previous three months.
Seeking cooperation in the Indian education, Cameron said, “I think we have some of the best universities of the world and I have brought 14 Vice-Chancellors with me. We have one of the strongest science bases in the world and we brought institutions like Welcome Trust with us.”
Explaining further, he said Britain has got expertise in civil nuclear power. “We are opening conversation with you on that front... We have very strong defence industry and I am delighted to see BAE-HAL agreement. I think we bring lots of expertise we can share with you,” he said.
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