U.K. to Give India 280 Million Pounds a Year to 2015, FT Says

U.K. International Development Secretary Andrew Mitchell said British aid to India won’t be cut and is to remain at 280 million pounds ($449 million) a year until 2015, the Financial Times reported, citing an interview with Mitchell.

The funds, which will be directed into more investment in private businesses, are to be maintained because of the “development paradox” presented by India, where rapid economic growth has failed to eradicate poverty, and the country has “more poor people in it than the whole of sub-Saharan Africa,” the newspaper said, citing Mitchell.

To contact the reporter on this story: Blanche Gatt in London at bgatt@bloomberg.net

To contact the editor responsible for this story: Colin Keatinge at ckeatinge@bloomberg.net.

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