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Last updateTue, 17 Mar 2015 2pm

Business

Nick Clegg: "Britain has much to learn from Asian business community"

The Deputy Prime Minister has praised the "sense of valour" and ability to take "calculated risks" shown by the Asian business community, saying Britain needs to drawn on those lessons if it is to overcome the recession.

During an impassioned speech at the second annual The Indus Entrepreneurs awards dinner at the Grosvenor House Hotel in Central London March 18th, Nick Clegg said the coalition government had "much to learn" from the thriving Asian business sector which has registered consistent growth despite the wider economic slowdown.

"One of the great things that I admire about the Asian business community is its sense of valour in taking risks.  The right kind of risks, not the unacceptable kind taken by the banking sector for so many years", Mr Clegg said.

Addressing an audience which featured the likes of the Hinduja Brothers, former Dragons Den star - and the government's business start-up czar - James Caan and RationalFX Chairman Rajesh Agrawal, among others, Mr Clegg said he was a "great admirer" of the Asian business community.

"Asian business owners are aware that it is ultimately their neck on the line; their homes, their families and everything that they have single-handedly built up.  As a result they are unafraid to innovate and experiment and take the right risks."

"It's the kind of attitude that Britain should foster and turn our country into a nation of responsible entrepreneurs", Mr Clegg added.

The awards dinner was organized by The Indus Entrepreneurs (Tie), a grouping of Indian-origin business owners and executives, founded in 1992 to promote and support entrepreneurship around the world.

Among the award winners on the night was Deepak Kuntawala, founder of finance company DVK Group, who won Global Entrepreneur of the Year; the glamorous Jacqueline Gold, CEO of Ann Summers and Knickerbox and James Palumbo, Co-Founder of the Ministry of Sound entertainment group.

Also attending the event was Kemal Hothi, Business and Community Director at the Lloyds Banking Group, Reena Ranger, founder of Women Empowered as well as musician, reality TV star and new entrepreneur Peter Andre.

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