By IANS
Kolkata : Showing keen interest in West Bengal's financial services industry, a high-level British delegation has suggested that the Calcutta Stock Exchange can be reorganised with foreign capital.
"The Calcutta Stock Exchange can be rejuvenated if it allows foreign equity participation and foreign brokers," said John Studdard, the lord mayor of the City of London, who led a 30-member British delegation here.
"In fact, many UK-based organisations are interested in taking part in the financial services sector of West Bengal but there should be a proper regulatory framework to develop this," he said on the margins of a seminar here.
Speaking about the opportunities for investment and cooperation between the two countries, London Stock Exchange's (LSE) business development manager Ibukun Adebayo said there was a possibility of the leading bourse entering Indian.
"We are looking for opportunities to pick up a strategic stake to enter global stock markets. Yes, if there's any opportunities we are also keen to participate in Indian market," Adebayo said.
Studdard, who spoke to reporters during the seminar on India-Britain ties, said India, China and the Gulf countries were gradually becoming places of immense interest to British investors.
"In the past few years, we have seen that West Bengal has undergone a sea change in liberalising the state economy," he said.
The delegation, which began its two-day visit here Tuesday, met Chief Minister Buddhadeb Bhattacharya, Industries Minister Nirupam Sen and Kolkata Municipal Corporation (KMC) Mayor Bikash Ranjan Bhattacharyya to discuss economic ties.
The areas specifically discussed for cooperation and partnerships includes financial services, education, training and maritime business.
India is the second largest investor in Britain while India ranks fourth in British investment worldwide.