"We have got a group of 22 British defence companies, with collective revenues of about $60 billion, really focused on doing business with and in India," UK-India Business Council Chief Executive Richard McCallum told Reuters.
Among those with a presence in India's aerospace and defence sector, BAE Systems has an Indian unit, while MBDA has a venture with Larsen & Toubro, and Rolls-RoyceMcCallum did not say which firms will make new investments or which Indian companies they might be in talks with.India and Britain are also negotiating a free trade deal that could boost annual bilateral trade by billions of dollars.
But challenges on enforcement of contract and past decisions on retrospective taxes that led to years of legal disputes between the Indian government and companies like VodafoneEven though Prime Minister Narendra Modi's government has corrected some of these issues investors remain cautious.