Finance minister Arun Jaitley and the UK's Chancellor of the Exchequer Philip Hammond on Tuesday said the two countries will invest up to £120 million each in setting up a fund that will invest in the country's energy and renewable sector . Hammond later spoke to TOI about the proposed trade agreement with India and insisted that there are no hurdles for the entry of skilled Indian professionals into the UK. Excerpts:We would want to see how this first investment progresses and are open to further investment. The key proposition is to attract private capital by using government funding as seed money. Once private sector investors are comfortable with the market and confident of returns, they will displace the need for government investment.We are restricted about what we can do while we are members of the EU. We will work to agree to, wherever we can, an enhanced mechanism to boost investment and trade.Tariffs in India are high compared to the tariffs that EU imposes, which for most products is well below 10%. There will be some difficult areas in any trade negotiations where there are some domestic interests that are seeking to be prote- cted on both sides. Typically, trade agreements, when they tackle those issues, do so over a period of time, they don't make overnight changes. The message I take away from our informal discussions is that there is appetite on both sides for an ambitious agreement that would be more at the upper end.We have a large number of foreign businesses from all over the world. The message I hear from all of them is that although there is some bit of bureaucratic process, there is not really a problem bringing people in a company in the UK. The fact is 60% of all work visas issued by the UK are issued to Indian nationals, who are not being discriminated against. In our domestic debate about immigration, there is a clear distinction between high-skilled migrants and low-skilled migrants. What has created concern around migration from the EU has been the large number of people with very low skills and very low levels of education who have come into the UK to seek entry-level unskilled jobs, where they are competing with British nationals.We will continue to make representations on behalf of British firms. I have raised with minister Jaitley some of the cases that we are concerned about but there is a lot of comfort from the fact that this government will not introduce any retrospective tax amendment.That’s a lazy perception that sees what happened in the UK and saw the Trump election in the US and says it must be part of the same phenomenon. It isn’t. If you look at the rhetoric of the EU referendum campaign, it was that of extroversion, of the desire to look beyond Europe to growing economies like India and China.