Huge investment opportunities exist in India in sectors like housing, smart cities, railway stations, gas and telecom grids for UK companies, Commerce and Industry Minister Piyush Goyal has said.

He was addressing India Day Conclave in London on Tuesday, a release said.

"India is looking at huge investments in the areas of housing, smart cities, railway stations, water, gas and telecom grids, transport networks like ports, better logistics and clean energy," he said.

He has expressed confidence that with technological advancements in the UK, newer technology can be made affordable for the people of India, and making them an attractive export proposition to serve the rest of the world.

The minister informed the participants that India consumes more data than any other country in the world, and is ahead of the US and China.

"We are the third largest pharma market in the world. India is now rolling out the Ayushman Bharat scheme which is set to offer 500 million people free healthcare," he added.

He also said that India is now working on improving ease of doing business through putting in place mechanisms.

India Day is a conclave of over 300 financial services industry leaders co-hosted by the Government of UK and the city of London.

Both the countries have agreed on the importance of stable business and regulatory regimes and welcomed the on-going partnership between UK and India on sharing best practices on ease of doing business, said a joint statement issued after the 13th Meeting of India-UK Joint Economic and Trade Committee.

Goyal and Secretary of State for International Trade of the UK, Liam Fox, met in London for the meeting on Monday.