Next PM should not worry about few industrialists: Lord Paul

India had conveyed its serious concern about the scheme to the British government both at the ministerial and official levels.

The aim of the scheme was to reduce the number of people from some 'high risk' countries - including India, Pakistan, and Nigeria - staying in the UK once their short-term visa had expired.

Lord Paul, who is also the Chancellor of the University of Wolverhampton and University of Westminster, quoted a recent report which pegged the annual economic output generated by universities in England at 73 billion pounds.  

'This is a significant contribution to the British economy, and does not take complete account of the additional economic value created from engagement with businesses,' he said while addressing the conference.