Richard Heald has been appointed the new chief executive of the UK India Business Council (UKIBC) that networks businesses, entrepreneurs and professionals of the two countries.

Heald is currently the vice chairman of N.M. Rothschild and Sons (India), where he has worked for 17 years and has been travelling to India for the last 20 years. He has extensive experience of working in investment and marketing sectors in Britain and India, a statement said.

He has been involved in major transactions for companies like the Tata Group, Cairn Plc, Bharti Enterprises, Mahindra and Mahindra, PTC India and the Hero Group, the statement said.

'Working closely with UK Trade and Investment (UKTI), UKIBC has a vital role in helping to deliver the prime minister's vision of an 'enhanced partnership' with India and I am sure that Richard's appointment will be widely welcomed by UK and Indian business and government leaders,' said UKIBC Chairperson Patricia Hewitt, currently touring India as part of British Prime Minister David Cameron's delegation.

UKIBC President Lord Bilimoria, also in India with the prime minister, said he is 'delighted that Richard Heald is joining as the chief executive to lead UKIBC in helping to greatly enhance trade, business and investment between our two countries when our relationship is going from strength to strength'.

Heald said: 'Happily, the opportunities for increasing trade flows between UK and India are immense. The current statements by the UK government have set the tone by declaring that 'Britain is open for business'.'