George Osborne has been pressing for greater economic ties between the United Kingdom and India.
The Chancellor has highlighted that there is an enormous scope and potential for investors in the two nations to forge bilateral trade partnerships for mutual benefit.
He said this while launching a solar powered mobile handset made by Vodafone in India's commercial capital Mumbai.
Asserting that the newly formed British government was keen on maintaining a fruitful relationship with India, Mr Osborne reiterated that bilateral economic cooperation between the two nations was of critical importance in the aftermath of the global economic downturn.
"It is a strong signal from a new British government. We have only been in office ten weeks. That the relationship with India is very important for us. We want to enhance that relationship to our mutual benefit," said George Osborne.
The Chancellor, along with a delegation comprising Prime Minister David Cameron and a spectrum of senior policy makers, business analysts and investors, is on his first state visit to India with a clear aim of boosting mutual economic development.
Earlier in the day, he also met several key executives of the Tata group to promote business ventures in Britain.
Interestingly, Tata is the single biggest manufacturing Indian employer in the United Kingdom, with its 47,000 strong workforce.
Meanwhile, Osborne also invited Indian entrepreneurs, investors and service providers to set up base in Britain, while maintaining that British forms were keen on exploring the Indian markets too.