Business event ahead of Games to lure investment to Britain

London, July 26 (IANS) Ahead of the Olympic Games, business leaders, including some from India, met in central London for an investment conference Thursday that the British government has organised to attract investment into country.

Lancaster House has been rechristened as the British Business Embassy that would play host to a series of 17 events, including a special business summit for China, during the July 27 to Aug 12 Games.

"Yes, I want medals for Britain. And there will be no more passionate supporter of Team GB than me. But I've got a job to do this summer. And a big part of that job is to get behind British business," Prime Minister David Cameron said addressing the Global Investment Conference.

He told the global investors that Britain was open for business and that he would talk personally to anyone who has ideas to create jobs and growth in the country.

The event is being attended by IMF chief Christine Lagarde, European Central Ban President Mario Draghi and chief executives of Google, HSBC, GlaxoSmithKline.

The Cameroon government is hoping that the Games would give the British economy a much-needed boost at a time when latest official figures showed that the economy shrank by a bigger-than-expected 0.7 percent between April and June.

"As we welcome the world's best athletes we also welcome the world's best companies - so that they can succeed, invest and create jobs in Britain," Chancellor of Exchequer George Osborne was quoted by The Telegraph earlier as saying.

Martin Uden, the managing director for the embassy for the series of events hosted by UK Trade and Investment (UKTI), could generate more than one billion pound.

"We live in challenging times and it is important that the opportunities we have to bolster the economy are grabbed with both hands," said Uden.

Besides ArcellorMittal chief Laksmi N Mittal, Reliance Industries Chairman Mukesh Ambani, Bharti Chief Sunil Mittal, Bajaj Auto Chairman Rahul Bajaj, United Breweries Vijay Mallya and Hero MotoCorp's Pawan Munjal are reported to join the gathering.