Agencies/London

Prime Minister David Cameron said British and Indian companies will announce deals worth a total of £9.0bn (€12.7bn, $13.7bn) during his Indian counterpart Narendra Modi’s visit to Britain.
Cameron made the announcement at a joint press conference with Modi at Downing Street, saying that new rupee-denominated bonds would also allow Indian companies to issue debt in London.
“During this visit, British and Indian companies are announcing new collaborations together worth more than £9bn,” Cameron said.
He said London wanted to support Modi in his vision to transform India with improved infrastructure and education.
“We want to become your number one partner for supporting the finance needed for (Modi’s) ambitious plan, making London the world’s centre for offshore rupee trading,” he said, adding: “we’re getting that started with plans already in place today to issue over £1bn pounds in bonds right here in London”.
Cameron noted that India has more investments in Britain than in the rest of the European Union combined.
Asked about an upcoming referendum on Britain’s European Union membership, Modi said: “As far as India is concerned, if there is an entry point to the European Union, that is the UK”.
Modi’s arrival was overshadowed by protests over a perceived rise in intolerance back home.
Bruised by his Bharatiya Janata Party’s election defeat in Bihar state on Sunday, Modi is seeking to restore his authority and regain momentum in the drive to foster investment and growth for his country.
From the British perspective, Modi’s visit is a chance to press for business opportunities in a fast-growing economy and to climb up the diplomatic pecking order, since Modi has prioritised other relationships since becoming prime minister.
Cameron has visited India three times since taking office in 2010 in an effort to forge a closer partnership, but Modi is the first Indian head of government to pay an official visit to London in almost a decade.
His visit comes at a time when a debate is raging in India over accusations that Modi is failing to rein in Hindu zealots trying to impose their values on all Indians.
As Modi and Cameron shook hands for the cameras outside Number 10 Downing Street, a crowd of about 200 protesters could be heard shouting anti-Modi slogans nearby.
“Our main concern is that minorities are not safe in India,” said Sikh protester Kuldip Singh.
The demonstrators held up banners with messages such as “Modi you are killing Indian democracy” and “Stop religious persecution in India”.
Ahead of his arrival, more than 200 writers including Salman Rushdie and Ian McEwan signed an open letter to Cameron urging him to raise concerns about freedom of expression in India during his talks with Modi.
About 45 British members of parliament, including opposition Labour Party leader Jeremy Corbyn, signed a motion to debate India’s human rights record.
The British government, however, rolled out the red carpet for Modi, who was greeted in the grand courtyard of the Treasury by a guard of honour wearing ceremonial bearskin headgear.
Today, Modi meets Queen Elizabeth II and addresses a huge rally at Wembley Stadium where 60,000 British Indians are expected.
The red-carpet reception was a stark reversal of fortune for Modi, who had effectively been banned from Britain until three years ago over anti-Muslim riots which killed over 1,000 people in 2002 in Gujarat, when he was chief minister of the state.
The 65-year-old will appear today at a huge rally at Wembley Stadium, which will include a free concert and a huge Diwali fireworks display.
“This isn’t just a historic visit. It’s a historic opportunity,” Cameron said ahead of the visit.
“It’s an opportunity for two countries, tied by history, people and values, to work together to overcome the biggest challenges of our age.”
India is the world’s ninth-largest economy and, at 7.4%, has the fastest growth rate in the G20.
Former colonial power Britain is the fifth-largest world economy. The government is pushing hard to increase overseas trade as it tries to shrink its large deficit in the wake of the 2008 financial crisis.
Cameron promised in 2010 to double Britain’s trade with India by this year. He has visited the country three times, but the trade figure has barely increased.
Gareth Price of London-based foreign affairs think-tank Chatham House said Britain was lower down India’s pecking order than other nations such as Japan or Germany.
“A lot of countries are wooing India with deeper pockets and without the historic baggage,” he said.
Price added that India’s “number one” ask from Britain was usually more visas for Indian nationals.
But he stressed this was “problematic” for Cameron, who has been struggling to reduce immigration since taking power five years ago.