http://www.ukibc.com/news_and_media/index.aspx?rss=1News Feedwww.ukibc.com copyright 2010 The Confederation of Indian Industries'(CII) Partnership Summit 2010 is to be held at the Chennai Trade Centre, Chennai from 22 - 24 January 2010 and will provide an excellent business networking platform for participants to enhance business prospects through global partnerships. The Partnership Summit will host business delegations from 22 countries. http://www.ukibc.com/news_and_media/articles/17_01_2010.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/17_01_2010.aspx India has an opportunity to build sustainable cities that can cater to needs of 21st century, unlike European and American cities which have a limited capacity to innovate, Human Resource Development (HRD) Minister Kapil Sibal said. The minister was addressing a function after distributing prizes to winners of a 'Future Cities India 2020' competition for high school students sponsored by the Department of Science and Technology. "The needs of 21st century cities will be different. We need sustainable cities; with new modes of public transportation, new kind of buildings that are light and absorb less heat, initiatives for pollution control and energy savingmeasures," Sibal said http://www.ukibc.com/news_and_media/articles/18_01_2010.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/18_01_2010.aspx Cox and Kings hit the primary market on November 18th with the public issue of 18.5 million shares. The tourism company has fixed the issue in price band of £4.15-£4.34 per share of face value 13p each. Of the total issue, the offer for the sale of shares by the existing stakeholders (including Lehman Brothers Opportunity, Deutsche Securities Mauritius and Merrill Lynch Capital Markets Espana, SA, SV) constitutes around 3 million shares. http://www.ukibc.com/news_and_media/articles/18_11_2009.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/18_11_2009.aspx The Indian economy is growing faster than expected with official data released on Monday stating Q2 growth at 7.9% year-on-year. This figure is much higher than the 6.5% estimate earlier. This higher than expected growth was partly because the farming sector beat monsoon worries. Manufacturing output also expanded to 9.2% in the quarter as consumers made a beeline for car and white goods showrooms. RBI forecast growth during 2009-10 would come in at 6%, with an upward bias. This news comes when Chief Economist at Goldman Sachs: Jim O'Neill is optimistic about the future of the UK economy. It will return to "A more balanced state of affairs in 2010". The article forecasted a 4.2% world growth rate and a UK growth rate of 1.9% for 2010. http://www.ukibc.com/news_and_media/articles/1_12_2009.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/1_12_2009.aspxAward-winning, international Architecture and Design firm Benoy has achieved phenomenal success in India since the Chairman, Graham Cartledge CBE, participated in a UK India Business Council (UKIBC) ministerial delegation in January 2006. During this visit with Ian Pearson MP, Benoy secured a contract to design the largest retail mall in India, Market City Mumbai. Benoy has been operating in the Indian market for three years, securing over 30 major projects across the country. Benoy's India Team is delivering integrated schemes and creating civic landmarks that truly embrace modern India and redefine urban centres, shopping destinations, transport hubs and historic buildings. From the outset, Benoy identified Tier Two cities as the future growth centres for a burgeoning and vibrant India. Benoy has major projects in Adityapur, Chandigarh, Dehradun, Gurgaon, Jalandhar and Jamshedpur to name a few. However, it is Benoy's work in Pune that perhaps best exemplifies the opportunities presented by Tier Two cities. Since 2006, Benoy has been supported in the region by UKIBC, UK Trade and Investment and the British High Commission in India whose expertise is invaluable. In terms of winning our first project in Pune, Magarpatta City Mall, Benoy was introduced to the client by Jones Lang LaSalle Meghraj. Pune's moderate climate and favourable topography - with flexibility for urban expansion and its close proximity to Mumbai - places the city in a strong position both nationally and internationally. Benoy has found its inhabitants, clients and colleagues a welcoming, highly-educated, enterprising and innovative community; and the planned infrastructure developments - from the Metro to the new Airport, will add further credibility to Pune's offer. India's major Metros are often hectic and overcrowded; however, in many ways Pune achieves a desirable balance, with travel times between work and home much less. Pune is a place that restores 'harmony' and we believe that Benoy's schemes are in accord with this. Magarpatta City, Pune Magarpatta City provides a complete and unique 'walking city within a city': a place to restore life's balance and the fulfillment of daily needs within a safe, world-class township. Magarpatta is an innovative concept for India and a self-sustaining city that can exist within its own walled limits. The aim of the design is to create a business, residential, lifestyle and leisure centre for both the city of Pune and the country. Market City Pune Located about 5km northeast of Pune city centre and 1.5km south of the airport, the 32,500m² destination will be supported by a future light railway linking it to the city. Market City Pune will boast a breathtaking, iconic frontage featuring a flowing, ribbonlike glass canopy, incorporating a combination of retail, leisure, office space, a business hotel and residences. "Benoy always looks to the future - whether setting the next design trend or carving out a space for the company in a vibrant new market. Our strategy for growth in India was to not only design for Delhi and Mumbai, but target Tier Two cities as well. Pune is the commercial and cultural capital of Maharashtra and like others identified in this Report has the raw development potential and the competitive advantage to be a world-class centre. Benoy is involved in ground-breaking developments in Pune that will help to realise this vision". Graham Cartledge CBE, Chairman, Benoyhttp://www.ukibc.com/news_and_media/articles/2009_06_09.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/2009_06_09.aspxBusiness leaders and ministers to discuss 21st century models for UK-India partnership LONDON: The first Indian President to visit the UK in nearly two decades, Pratibha Patil will open the UK India Business Council's Annual Summit, UK-India Partnership in Action, on October 29th at Lancaster House, imparting a strong message to boost bilateral ties, trade and investment. Lord Mandelson, Secretary of State for Business, Innovation and Skills will address the delegates on the occasion. At the summit, business leaders and policy makers will recognise that liberalisation and reform of the Indian economy has been a long journey. India has travelled a long way, and, quite rightly, it has chosen its own direction and speed of travel. They will review how India has got into its current strong position. And preview the next leg of the journey and consider how UK companies have so far been able to contribute to India's growing economy, and how further economic reform will give UK Plc the opportunity to help India achieve "inclusive growth". UKIBC CEO Sharon Bamford said, "We are delighted to have the President of India opening our Summit. In the last three months, India's economic situation has improved and its position on the global stage strengthened with the growing importance of G-20 which is gaining prominence as the premier forum for managing the global economy. UK has also seen a jump in inward investment from India, which became the second largest investor in Britain in 2008-2009. The Indian economy has managed to continue to expand when most developed countries saw their economies contract. At the Summit, business leaders and policy makers will discuss the successful and emerging new business models. Despite economic downturn, business between UK and India has witnessed a flurry of activity. Mothercare, UK retailer for kids and expectant mothers, is forming a 51:49 joint venture with India's largest real estate company DLF. Premier Inn is planning to open 18 hotels in the next five years and 80 in 10 years with a total investment of £ 4.6 billion (Rs 3500-4000 crore). There are exciting opportunities in India - in sectors ranging from manufacturing and infrastructure, to life sciences, education and energy. At the Summit, discussions will cover emerging trends, business models and opportunities. An impressive line up of business leaders including Vittorio Colao, Vodafone, Gerry Grimstone, Standard Life, Lord Bagri, Metdist, Anil Shrikande,Rolls Royce India, Anwar Hasan, Tata Sons, Terry Hill, Arup and Professor Tim O'Shea, Vice Chancellor, University of Edinburgh, Baba Kalyani, Bharat Forge will share their views and success stories.http://www.ukibc.com/news_and_media/articles/2009_10_25.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/2009_10_25.aspxSuresh Kalmadi, Delhi 2010 Commonwealth Chairman, will launch the Commonwealth Business Club India (CBCI), an initiative to enhance business outreach and promote India as an attractive investment and business destination at the UKIBC Gala Dinner. The Dinner will celebrate the partnership and opportunities in business and sport between India and the UK with our two esteemed guests of honour: Dame Kelly Holmes, President of Commonwealth Games England and Lalit Modi; Chairman and commissioner of the IPL. It will also mark the one year countdown to the Commonwealth Games, Delhi in October 2010. India hosting the games next year symbolizes her "coming of age" as a global economic power, showcasing Indian capability and celebrating India's rich and distinctive culture. The event, which will be held in the Royal Courts of Justice, will commence with a champagne reception, address from keynote speakers and Dinner. The Dinner is supporting The British Asian Trust: a UK-based grant making charity established by British Asian business leaders at the suggestion of HRH the Prince of Wales in July 2007. There is limited availability of tickets so book now if you haven't already done so.http://www.ukibc.com/news_and_media/articles/2009_10_27.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/2009_10_27.aspxLONDON: A strong business delegation is accompanying the Indian President to the UK. Over 35 business leaders from across a range of sectors including manufacturing, IT, retail, professional services and sports are accompanying the first Indian President to visit the UK in two decades. President Patil will open the UK India Business Council's Annual Summit, UK-India Partnership in Action, on October 29th at Lancaster House, imparting a strong message to boost bilateral ties, trade and investment. Lord Mandelson, Secretary of State for Business, Innovation and Skills will address the delegates on the occasion. Commenting on the visit, Lord Mandelson said, "As two nations of entrepreneurs, innovators and traders, both the UK and India's success will be defined by our ability to compete and win in the global economy of the future. Bilateral trade between us is growing despite the difficult global trading conditions. I believe there's even greater scope for more of our businesses to work together. As the world's sixth biggest manufacturer, Britain can help India as it seeks to move up the global supply chain. The UK can also offer valuable skills and expertise, as India seeks to modernise its infrastructure." The Rt. Hon. Patricia Hewitt, chair, UKIBC, said, "With most of the developed world in recession, the global financial crisis has accelerated the fundamental shift in economic power from west to east. The G20 meeting in Pittsburgh in September, like the April meeting in London, confirmed that geo-political power structures are changing to reflect economic power. Instead of the old - and increasingly old-fashioned - G7 or G8 'plus', we now see India and other emerging economies taking their place on equal terms at the world's top table. This fast-growing market of individual and corporate consumers is good news for UK businesses. There are exciting opportunities in India - in sectors ranging from manufacturing and infrastructure, to life sciences, education and energy. At the Summit, business leaders and policy makers will discuss the successful and emerging new business models." Commenting on the UKIBC Summit, Indian High Commissioner Nalin Suri said, "The importance that President Patil attaches to the development of the trade and economic relationship between our two countries is clearly manifest in the high level business delegation that is accompanying her. We in India are determined that the Indian economy continues to grow at a rapid pace in the foreseeable future in a manner that is equitable, environmentally sound and sustainable. This summit and greater interaction between India and UK trade, industry and finance can play a valuable role in this endeavour." LIST OF SPEAKERS The Hon Apurv Bagri, Managing Director, Metdist Group Sharon Bamford, Chief Executive, UK India Business Council Lord Bilimoria CBE DL, President, UK India Business Council Gaurav Burman, Managing Partner, Elephant Capital Andrew Cahn, Chief Executive, UK Trade & Investment (UKTI), J P Chowdhary,Chairman, Titagarh Wagons Limited Vittorio Colao, Chief Executive, Vodafone Group Gerry Grimstone, Chairman, Standard Life Sir Tom Harris, Vice Chairman, Standard Chartered Bank Anwar Hassan, MD, Tata Rt. Hon. Patricia Hewitt, Chair, UK India Business Council Terry Hill , Chairman, Arup Group Dame Kelly Holmes, President, Commonwealth Games Committee, England. Suresh Kalmadi, Chairman, Delhi 2010 Ravi Kant, MD, Tata Motors Alderman Ian Luder, Lord Mayor of the City of London Rajan Bharti Mittal, Vice Chairman & Managing Director, Enterprises Lalit Modi, Chairman and Commissioner of the IPL Devin Narang, Chairman, Freeplay Anil Shrikhande, President, Rolls-Royce India Graham Ward CBE, Senior Partner PwChttp://www.ukibc.com/news_and_media/articles/2009_10_29.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/2009_10_29.aspxDuring the State Visit of the President of India to the UK, which took place between the 27th and the 29th October, Prime Minister Gordon Brown acknowledged the important contribution made by the UK India Business Council in enhancing trade and investment relations between India and the UK. In a response during Prime Minister's Questions to UKIBC Chairman, the Rt Hon Patricia Hewitt MP, Mr Brown said that the visit of President Pratibha Devisingh Patil was "a sign of the strategic partnership that is growing between India and the United Kingdom." Mr Brown went on to commend Ms Hewitt's pre-eminent role in stewarding the bilateral business relationship, and asserted his commitment to the goals of the UK India Business Council: "I would like to thank my Hon. Friend for her Chairmanship of the UK India Business Council that brings forward proposals for even stronger relations in the future. More than a million people travel between the UK and India each year; there are about 1.5 million people of Indian origin in the UK; there are 30,000 Indian students in Britain: relations will grow stronger as we develop closer educational, cultural and economic links between these two great countries."http://www.ukibc.com/news_and_media/articles/2009_11_27.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/2009_11_27.aspx India is projected to invest $1.5 Trillion in the next 10 years. Recognising the great business opportunities this provides, the UK's world class capability, and the appetite within India to partner with UK companies, the UK India Business Council is establishing an Infrastructure Forum. The goal of the Forum is to encourage more UK companies to consider the Indian opportunity, provide the knowledge and networks needed to access the opportunity, and, working with partners at UKTI, CII, and FICCI, make the connections that lead to deals being done. It is fantastic news that Terry Hill of Arup, Graham Cartledge of Benoy, Philip Bouverat of JCB and Martin Harman of Pinsent Masons have agreed to be the "Forum Champions", actively supporting our activities whenever they can. To help deliver the objectives, we will organise a range of activities in the UK and India that will benefit companies new to India and those already in the market. These will include awareness raising seminars, workshops providing a deeper level of knowledge, roundtable discussions on policy and market access issues, surveys of business to establish areas of interest and concern, research reports and engagement with trade associations. In addition to the work the UKIBC is doing with visiting Indian Ministers in early February, we have other events scheduled for the first few months of 2010: 27th January Introductory briefing and discussion with UKIBC members on Forum objectives and priorities. 16.30 - 18.00 w/b 23 March New Cities and Special Economic Zones. A seminar to outline the expanding opportunities for UK Infrastructure companies, through the development of SEZ and new cities and towns being built around India. w/b 22 March An interaction with a visiting delegation of Indian infrastructure companies (tbc). 13 April A seminar with guest speaker Mr Narinder Nayar, Chairman of Bombay First and MD of Concast India Ltd to discuss the Trans-Harbour link w/b 10 May A road show highlighting Indian Special Economic Zones (SEZ) and the opportunities for UK infrastructure companies. This series will involve representatives of the Multi-modal International Cargo Hub and Airport (MIHAN) SEZ in Nagpur (tbc). As the Forum evolves, its activities will increasingly be driven by its members. Our initial, enthusiastic feedback from business indicates that the following sub sectors might emerge most strongly: ports and transport, urban regeneration, and energy. Another key strand of activity will be working with the Indian Government to access PPP opportunities in roads, healthcare and education infrastructure. The Forum will be managed by Caroline Erskine , who will be supported by the wider UKIBC team to deliver a programme of activities that will generate real value for UK businesses. UK India Business Council January 2010 http://www.ukibc.com/news_and_media/articles/2010_01_11.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/2010_01_11.aspxAs part of the Insight India series, UKIBC and the Institute of Directors are hosting a breakfast event on the 3rd February 2010m, starting at 7.30am. The seminar will look at how to do business during the credit crunch, key speakers include: Raj Julleekeea, Tax Director at PwC and Shalini Agarwal, Partner at ALMT Legal. Delegates will then partake in a cultural briefing which aims to raise awareness about Indian culture and society, and act as a platform for people to talk and learn about their experience in India. http://www.ukibc.com/news_and_media/articles/2010_01_18.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/2010_01_18.aspxNorton Rose Group will be holding series of breakfast seminars during 2010 focusing on both the inbound and outbound opportunities and challenges of doing business in India across a variety of business sectors. The first in this series of breakfast briefings will be held on Thursday 28th January 2010, starting at 8am. It will examine the outward expansion from India and present the key findings of recent research on the factors behind overseas expansion and highlight some of the challenges Indian businesses face. Sharon Bamford, Chief Executive of UKIBC will speak at the meeting before an opportunity for discussion. For more information and please email Kerstin MacCana at kerstin.maccana@nortonrose.com .http://www.ukibc.com/news_and_media/articles/2010_01_18_passage_from_india.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/2010_01_18_passage_from_india.aspx A NEW REPORT BY UKIBC AND GRANT THORNTON The education and skills sector in India offers significant opportunities in almost all areas: in schools, at the further and higher levels and in the provision of vocational skills. The UK has an internationally recognised competitive advantage in these areas, with excellent colleges and universities, as well as private sector providers all with the experience or capability to form global links. Add to this the shared history and language between the two countries and it seems self-evident that the UK should be India's partner of choice in developing the future of the sector. However, collaborative activity in this field has so far been piecemeal and sporadic, though it is clear that we are seeing the beginning of some very promising incipient linkages being formed. A number of actors in different parts of the education and skills spectrum have embarked on varying levels of interaction with India. Their work to date is encouraging and bodes well for the future. What has been particularly instructive are the challenges which they have encountered when trying to enter the Indian market or attract students from India. These include, though are not exclusive to, understanding and appreciating different working cultures, the difficulty of identifying suitable partners and unfavourable regulatory issues. Many more believe that there should more of a role for Governments, trade associations and other multiplier organizations to foster greater collaboration in the sector. UK education and skills providers are often unsure about the best way to navigate the large and complex education arena in India. Organisations such as the UK India Skills Forum are helping UK vocational skills institutions to access the India opportunity and develop the relationships they need to succeed. The challenges, however, are relatively minor when the scale of the opportunity is accounted for; and all right-thinking education providers are committed to long term involvement in the Indian market. A forthcoming UK India Business Council report, Education in India: Securing the Demographic Dividend, will provide practical advice to organizations seeking to do business in India, as well as a snapshot of the sector in India and thoughts on its future development. The forthcoming report is announced at a time when ties between educational institutions in India and the UK are strengthening. The recent visit of Mr. Kapil Sibal, Human Resource and Development Minister, to the UK marked this development. During his trip, Sibal attended the Learning and Technology World Forum and the 2nd UK-India Education Forum. He also witnessed the signing of five Memorandums of Understanding (MOUs) between India and UK higher education institutions which highlighted the benefits of mutual collaboration at a higher level. http://www.ukibc.com/news_and_media/articles/2010_01_29.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/2010_01_29.aspxThe annual JETCO Ministerial meeting took place on Tuesday 4th February 2010 at Lancaster House in London. There were four business to business work groups: education and skills, FMCG and supply chain, Infrastructure PPP and Manufacturing and Innovation. All working groups have agreed action plans to build business between the two countries. Rapporteurs from each group reported their action plans to the Plenary. LORD MANDELSON stressed the importance of encouraging more UK SMEs into the Indian market. He also drew attention to the great increase in opportunities in India's emerging cities. Lord Mandelson also urged the EU and India to finalise their Free Trade Agreement. He also highlighted the infrastructure opportunities in India where $500 billion will be invested, and stressed the UK's finance and expertise. The UK has a role in providing finance and expertise. There has been significant progress on the accountancy agenda with mutual recognition of qualifications. In the energy sector there is a role to provide low carbon solutions, including nuclear. Lord Mandelson stated that he hoped that the Civil Nuclear Cooperation Agreement would be signed soon. In retail, the UK has significant experience of supply chain management and cold storage. SHRI ANAND SHARMA, Minister for Commerce and Industry asserted that the UK and India are strategic partners in education, innovation and energy. He was delighted that the two countries respond to regional and global challenges together, and cited the handling of the global financial crisis. Mr Sharma felt that the State has a role in ameliorating the worst effects of the economic crisis, but there must be balance and not over regulation. The impact of the economic crisis on India has been economic growth dropped from 9 to 6.7%. However, India is determined to accelerate back to 9% so as to raise income levels and build inclusive growth. Indian exports had reduced but have rebounded strongly over the year to Q3 2009. Mr Sharma highlighted India's young population. As a result of this, in the future, India will provide quality human resources to the world. In two decades, India will become the third largest economy in real terms. India will work with UK partners to realise the dreams of its population. Skills provision is a priority area and the opportunities in infrastructure are almost unlimited. Mr Sharma reassured the audience that there have been improvements in IPR and corporate governance, which should put investors' minds at rest. In the case of Satyam, the Government acted quickly, within three weeks there was a new Board in place and 30,000 jobs were saved. Mr Sharma stressed that India was outward looking. India will not erect barriers and will look outside to grow businesses and work with partners. There will be more FTA's in the future. Closing the JETCO plenary, UKIBC Chair, The Rt Hon PATRICIA HEWITT MP said: "As the global economic recovery gains momentum, today has shown that, once again, the UK and India are enthusiastic and committed to working together. These joint trade and investment efforts, alongside our work in the G20 and other fora, will reinforce recovery for the good of both countries." http://www.ukibc.com/news_and_media/articles/2010_jetco.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/2010_jetco.aspx UK's premier air-carrier, British Airways today announced the launch of the 'British Airways Business Opportunity Grants' pan-India, which aims at helping India's growing number of SMEs( Small and Medium Enterprises'). British Airways will award 50 companies business opportunity grants which consist of 10 return Business Class flights anywhere on the British Airways network. Every company will also get valuable business support services and support from British Airways' Partners. "British Airways is in the business of connecting people globally and we are aware that the key to building successful long-term business partnerships is through face-to-face meetings. This is the best way to grow long-term relationships in business," British Airways country manager (India), Judy Jarvis, told reporters. http://www.ukibc.com/news_and_media/articles/23_11_2009.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/23_11_2009.aspx Leading private sector lender, ICICI Bank has tied up with UK Trade and Investment to help Indian firms explore business opportunities in the British market. The tie-up will provide training events and investment assistance to Indian firms looking at business opportunities in UK. "Through this initiative, we envision further awareness to the Indian businesses by means of knowledge and counselling sessions," ICICI Bank Managing Director and CEO Chanda Kochhar said. http://www.ukibc.com/news_and_media/articles/4_01_2010.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/4_01_2010.aspx India has identified more than 80,000 kilometres of roads, national highways and expressways that need expanding or building, and Minister for Trade, Investment and Small Business Lord Davies is encouraging UK firms to get into pole position to secure contracts. Lord Davies has welcomed the creation by the UK India Business Council (UKIBC) of the British-India Roads Group today. The group, which has been established to help UK companies support India's massive roads and highways development programme, met with India's Minister for Roads and Highways Kamal Nath today. Lord Davies said: "India is undergoing an astonishing transformation and needs tens of thousands of kilometres of new roads to cope with its rapid growth. This represents more than £25 billion worth of investment and I encourage UK firms to consider the business potential in this booming market." "Take the example of Nagpur, the 'zero-mile' city at the geographical heart of India, which I visited last year. This city is being transformed into the logistical hub of India. It is one of the Tier 2 cities powering India's growth that UK Trade & Investment can help UK businesses to explore." India's transport upgrade is one element of its massive infrastructure development programme. According to the Planning Commission of India, over US$500 billion of funding is needed for new power stations, airports, roads, railways, seaports, waterways and urban infrastructure over the next five years. UK Trade & Investment, the Government's international business development agency, and the CBI will work with the UKIBC to support the new British India Roads Group. Bilateral trade between the UK and India is worth over £12 billion per year. It will be the subject of trade talks between Business Secretary Lord Mandelson and Indian Commerce Minister Anand Sharma in London on Thursday. Media Contact: For more information, please contact Susan Grieve from UK Trade & Investment on 020 7215 4644 or email susan.grieve @ukti.gsi.gov.uk . Notes for Editors: The British India Roads Group is an association of leading UK construction firms with infrastructure development expertise, including in pioneering innovative public/private financing models, leading finance companies and business organisations. It is a non-exclusive association, and the UKIBC will expand membership. UK Trade & Investment (UKTI) is the government organisation that helps UK-based companies succeed in the global economy. We also help overseas companies bring their high quality investment to the UK's economy - acknowledged as Europe's best place from which to succeed in global business. UKTI offers expertise and contacts through its extensive network of specialists in the UK, and in British embassies and other diplomatic offices around the world. We provide companies with the tools they require to be competitive on the world stage. For more information visit: www.uktradeinvest.gov.uk | www.youtube.com/UKTIWeb | http://blog.ukti.gov.uk | www.flickr.com/ukti | http://twitter.com/ukti The UK India Business Council (UKIBC) is the lead membership-led organisation supporting the British Government in the promotion of bilateral trade, business and investment between the two countries. Through the facilitation of partnerships, and with the support of an extensive network of influential corporate and individual members, UKIBC provides the resource, knowledge and infrastructure support vital for UK companies to make the most of emerging opportunities in India. The CBI is the UK's leading business organisation, speaking for some 240,000 businesses that together employ around a third of the private sector workforce. With offices across the UK as well as representation in Brussels, Washington, Beijing and Delhi the CBI communicates the British business voice around the world. http://www.ukibc.com/news_and_media/articles/all_roads_lead_to_india.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/all_roads_lead_to_india.aspxGOVERNMENT has relaxed employment visa norms for the sector, allowing companies to hire foreign nationals as per their requirements, effectively removing the ceiling of 20 such employees per company. Government has circulated new guidelines to all missions abroad informing them of the relaxation in procedures for Information Technology (IT) and IT-enabled services (ITeS) companies. Technology companies that sponsor foreigners to work in India will need to give a declaration that the skilled worker has been hired for working in an IT or ITeS company or a software technology park of India or Special Economic Zone (SEZ) dedicated to IT or an IT unit in a Multi-Product Zone (MPZ). The foreign worker being sponsored will have to give a declaration to the effect that his annual salary is in excess of $25,000 per annum. The salary cap is being introduced to ensure only highly skilled workforce comes to the country. http://www.ukibc.com/news_and_media/articles/03_06_2010.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/03_06_2010.aspx INVESTMENT by private equity (PE) companies rose over three times during January-April this year as compared to the same period last year. The comparative figures are $3,044 million and $837 million respectively. These investments were driven by energy and healthcare services sectors. The number of deals rose from 73 to 92. The healthcare and life sciences sector attracted $247.3 million, compared to $37.8 million a year earlier. The Information Technology (IT) and IT-enabled services industries got $322.8 million, compared to $141.4 million a year earlier. Banking, financial services and insurance got $457.5 million, compared to $76.8 million. http://www.ukibc.com/news_and_media/articles/03_06_2010_b.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/03_06_2010_b.aspxA summit in the southern Indian city of Bangalore has concluded with international and domestic investors pledging billions of dollars. Read the full article here http://www.ukibc.com/news_and_media/articles/07_-6_2010.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/07_-6_2010.aspx Our inaugural Next Gen delegation of young professionals and entrepreneurs was a great success, visiting Delhi and Mumbai. We were greatly impressed by the commitment and enthusiasm of these dynamic, young people who experienced a programme which offered both cultural and social insight, alongside the usual business activity. In Delhi the delegates were welcomed by the Chairman Emeritus of TiE, Mr Saurabh Srivastava as well as top UKTI personnel and members of the Indian Angel Network. They attended the CII Young Indians 6th National Summit on Leadership featuring high profile speakers such as Mr Arun Maira of the Planning Commission, Mr Gurcharan Das, Author and Management Guru and Ms Isher Judge Ahluwalia Chairperson of the Indian Council for Research on International Economic Relations. The Next Gen event 'Cities as Ecosystems for Entrepreneurs' featuring speakers such as Anupam Yog, Mirabilis Advisory, Sonita Dass of Urban Shore and Paul Grey of UKTI to name a few saw a strong turnout of more than 60 guests and a stimulating discussion on the existing ecosystems and entrepreneurial landscapes between cities in the UK and India to understand the opportunities and explore mutual synergies for partnership between the two countries. The delegates were particularly impressed by the unique grassroots model of education through story as propogated by Katha (an NGO supported by Patricia Hewitt, UKIBC Chairperson) which has reached out to and benefited more than 200,000 children in slum communities in Delhi. The Mumbai leg of the trip kicked off with a breakfast briefing by Peter Beckingham, British Deputy High Commissioner who provided an overview of the UK's objectives and activities in Western India while emphasizing that UKTI and the Deputy High Commission are committed to supporting enterprising and innovative cross border initiatives by young entrepreneurs and business leaders in the UK and India. They particularly enjoyed visiting the government schools and educational programs run by Pratham, an India focused NGO whose mission is every child in school and learning well. They also met with the Founders of Dasra over a social entrepreneurship themed networking dinner involving the wider group of UKIBC members and contacts. The cultural element was provided by Dr Narendra Panjwani, Professor of Film Studies at Xaviers Institute ofCommunication, who spoke on the role of Bollywood in the creation of the Indian identity http://www.ukibc.com/news_and_media/articles/10-02-2010-nextgen.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/10-02-2010-nextgen.aspx Inward Investment A key message that emerged from the UKIBC Summit 2009 was that the UK needs to attract investment. Political and business leaders believe the UK needs to do more to attract this investment from India into the UK. Andrew Cahn, Chief Executive Officer at UKTI, said: "India was the second largest investor in the UK in the last financial year. The extraordinary investment of companies such as Tata makes them currently the largest manufacturer in the UK." The Confederation of British Industries' recently published report "The Shape of Business: The Next Ten Years" focused on how the UK's business environment might change for foreign investors. In conjunction with this report, CBI held a conference which reinforced many report assertions and discussed the role of the UK as a global leader. Key speakers included, Prime Minister Gordon Brown and the Rt Hon David Cameron MP. The report echoed much of the discussion held at the UKIBC Summit, including the importance of attracting investment into the UK. "As China, India and the Middle East become wealthier they will want to invest, and whether the UK is seen as an attractive investment destination will be critical. Many businesses that expect lower growth rates and a less benign economic environment will shift the locus of investment away from the US, and Europe into Brazil, Russia, India and China." International co-operation was one of the Prime Ministers themes, "It is clear that international co-operation is not now a luxury but a necessity… Attracting inward investment is a must" Brown says. He views the UK's position on a global scale as critical and notes the importance of the UKs relationship with India, stating that "I know we will soon sign new strategic partnerships with India". Kitty Parkes, Benoy's Public Affairs Director and member of the UKIBC Next Generation Network Board, on her response to the conference, further championed the importance of attracting inward investment into the UK. "Every single party leader mentioned working with India and China. I think the future for British Industry is to be looking overseas." Growing d emand in overseas markets Another key message highlighted in the CBI report is that the demand shifts in the Indian economy represent an opportunity for UK PLC. Mr.Gaurav Burman, Managing Partner at Elephant Capital, stated at the UKIBC Summit; "800 million people are under the age of 30 and 25% of the world's under-25 population lives in India. As they go out, get jobs, mortgages, homes, cars, they will have a huge amount of disposable income. That is why India is so important." This disposable income will create a large market for UK companies, which could compensate for sluggish growth in domestic demand in developed economies. The CBI report also highlighted the centrality of the growth in domestic demand. "[Globally]There were around 430 million people falling into the World Bank definition of middle class in the year 2000, but this is projected to increase to over 1.1 Billion by 2030- the vast majority in developing nations such as China, India and Brazil. http://www.ukibc.com/news_and_media/articles/14-12-2009.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/14-12-2009.aspx India's position on climate change has come to the forefront at the UN Climate Change Conference in Copenhagen. The event began on Monday 7th December and will continue until the 18th December 2009. Emission targets have been announced by the Indian government and the Prime Minister of India will be attending. This Summit promises to take definitive action against climate change. The UKIBC and EnviroBusiness joint event on 3rd December 2009 presented a unique chance for UK companies to learn about potential opportunities for environmental technology companies in India. India and Climate Change India's National Action Plan on Climate Change was launched in June 2008. Key highlights of the plans objectives include: 1. Promote the development and use of solar energy for power generation 2. Increase energy efficiency, 3. To have a greater emphasis on waste management and power production from waste 4. To use pricing to promote energy efficient vehicles, 5. To provide incentives for use of public transportation 6. To Increase water use efficiency Three ongoing initiatives being pursued by the Government are: power generation, renewable energy and energy efficiency. These initiatives show possible business and collaboration opportunities for India and UK PLC. Copenhagen Summit India's official document "THE ROAD TO COPENHAGEN: India's Position on Climate Change Issues" sums up the official position in midst of the Copenhagen Climate Change Summit. India believes that climate change is happening due to a cumulative impact of accumulated GHG (Greenhouse Gas) emissions in the World's atmosphere. It is therefore up to the industrialised countries that created these emissions in their growth patterns, to significantly cut emissions and bear the burden of funding clean energy projects in developing countries, believing they have an "historic responsibility." The UN Framework Convention on Climate Change does not require developing countries to reduce any GHG emissions but despite this, India has declared it will not allow its per capita GHG emission to exceed the average emissions of developed countries. India believes that it cannot be called a "major emitter". The US and China account for over 16% each of total global emissions, while India accounts for only 4%. India wants to concentrate on collaboration especially in research and development, between major developing and developed countries. This would hold potential business opportunities for UK PLC. India's Minister for Environment and Forests Jairam Ramesh has announced that India is ready to cut down emission intensity. The figure announced for the amount of carbon dioxide emission per unit of Gross Domestic Product is a reduction of 20-25% by 2020. This is in line with the drop in carbon intensity made of 17.6% from 1990-2005. India emphasised that targets are voluntary and India will not accept any legally binding targets. India also won't accept an agreement that stipulates the setting of a peaking year for emissions, which states a date for when a nation must begin reducing emissions. Following announcements made by Ramesh, two major negotiators: former IFS officer Chandrasekhar Dasgupta and ex-environment secretary Pradipto Dasgupta decided not to be part of the delegation heading to Copenhagen, suggesting disagreement on the position India should take on climate change. The Indian Prime Minister has solidified his commitment to tackle climate change ahead of the Summit. An announcement that he will be attending the Summit for 2 days (17-18thDecember) while Barack Obama changes his plans to attend the summit on the 18th December, rather than the 9th as previously planned. Energy Sources in India Although India does have its National Action Plan promoting renewable sources such as solar energy, coal still remains the main energy supply in the country, with almost half the country having no electricity. "Coal-fired power will stay for the next 20-25 Years at least" said R B. Sonkar, chief engineer at one of Korba's (central India) many power stations. "There is a lot of focus on clean coal and super critical technology to increase efficiency, but coal will remain central," said Sunita Narain, a member of the Prime Minister's council on climate change. "It accounts for about 60 percent of India's energy mix." Renewables such as wind, solar and bio-mass contribute 8.8 percent to generation and there are plans to scale up solar power generation to 20 gig watts by 2022. However achieving this will depend on international finance and technology, If UK companies do partner with firms in India, the potential return on investment is positive. Renewable energy is a significant opportunity for UK PLC. Exploring Business Opportunities for UK PLC UKIBC's recent event "Opportunities in India for UK Environmental Technology Businesses" provided our delegates with a unique insight into areas for future collaboration as the value of renewable energy and sustainability comes to the fore with the Summit having started this week. The event, which took place on Thursday 3rd December, was attended by over 40 UK companies. Kevin McCole set the scene by giving a brief overview of the Indian market, Phil Sheppard of PERA shared the findings of a new report on 'Environmental Market Opportunities in India' which has been produced jointly by EnviroBusiness and PERA, while Neeraj Agarwal, Business Advisor, UKIBC shared some of the findings of UKIBC's emerging cities report to highlight the opportunities for UK environmental companies beyond the metro cities of India. Copies of both the reports were given to all delegates. In response to a question from the audience, the panel was collectively of the opinion that India is on board with the Copenhagen process and that the Indian government is determined to replace a large proportion of its 'dirty' energy with clean, renewable alternatives. UKTI also launched the UK/India Low-Carbon Vehicle seminar and Mission Programme which took place on 23rd-27th November. It provides information and highlights potential business opportunities in: electric vehicles, hybrid vehicles, advanced materials and energy efficient internal combustion engines, and gave opportunities for delegates to network and research into new business opportunities. http://www.ukibc.com/news_and_media/articles/14-12-2009_climatechange.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/14-12-2009_climatechange.aspx India's Ministry of Commerce and Industry has released acopy of the newly consolidated FDI rules. This consolidation aims to makeavailable all information on FDI policy in one place, which in turn would leadto simplification of the policy and greater clarity of understanding of FDIrules among foreign investors. However, this is not going to change theexisting level of FDI liberalisation in India. There will also be no change inthe sectoral foreign equity caps.http://www.ukibc.com/news_and_media/articles/14_04_2010.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/14_04_2010.aspx Indian companies are being strongly advised to invest in the UK ahead of the 2012 Olympic Games. The British Deputy High Commissioner for South India, Mike Nithavrianakis said contract deals worth £6 billion and the 75,000 new business opportunities generated by the London Games present Indian companies with the opportunity to solidify trade links between the two countries - as well as to use the UK as a springboard into European and Chinese markets. http://www.ukibc.com/news_and_media/articles/17-12-09.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/17-12-09.aspx India needs $400 billion of investment in education over the next decade due to the importance of the sector to India's future growth, Human Resources Development Minister Kapil Sibal has told British ministers and university vice chancellors. Sibal outlined India's extensive plans in education during meetings with three cabinet ministers and 16 vice chancellors in London. The role of Britain will be to help deliver "quality" to Indian institutions, he told a roundtable with the vice chancellors of key British universities. "Our young people need access to higher education. The quality of education is strongly linked to economic growth, which is why we are reaching out to other countries," said Sibal. http://www.ukibc.com/news_and_media/articles/17_01_2010_education.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/17_01_2010_education.aspx To reduce the dependence on fossil fuels, the Government approved the Jawaharlal Nehru National Solar Mission. The Mission aims to feed 20,000 MW to the national grid by 2022, with an initial investment of £560 Million growing to an overall investment of £10.6 Billion. The Government has designated NTPC Vidyut Vyapar Nigam Ltd as the nodal agency for reaching power purchase agreements and selling it on to State utilities which would be credited against the compulsory renewable energy purchase targets. http://www.ukibc.com/news_and_media/articles/18_11_2009_solar.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/18_11_2009_solar.aspx Bangalore: Software maker Microsoft Corp. on Thursday launched Windows 7 operating system in India, pricing it at least 20% cheaper than in the US to tackle piracy. Windows 7 can, however, hit stores only after the firm resolves a tax dispute with the customs department over the interpretation of tax rules introduced in July on imported packaged software. System upgrade: Microsoft India chairman Ravi Venkatesan speaks during the launch of Windows 7 in New Delhi on Thursday. Dar Yasin / AP. "There is an ongoing dialogue with the government. We hope it will be resolved soon," company spokeswoman Dipti Mehra said. Microsoft is working with software lobby group National Association of Software and Services Companies to end the dispute, she said. Windows 7 is designed to be lighter and with more features than the Windows Vista operating system, the company said in a statement. http://www.ukibc.com/news_and_media/articles/22_10_2009.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/22_10_2009.aspx Prince Michael of Kent said that Indian investments helped create 4,000 jobs in the UK last year and both nations need to collaborate more to facilitate business growth. "The UK's bilateral trade with India is worth over £12 billion and has seen a double-digit growth in the last year," Prince Michael of Kent said at the Global Economic Summit in Mumbai. "We must work together to encourage more small business set-ups in India and the UK through appropriate financing vehicles and venture capital and reduced red tape, boosting two-way trade and investment." http://www.ukibc.com/news_and_media/articles/23_01_2010.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/23_01_2010.aspx PwC and KPMG both won awards for their activities in India at the Annual Asia Tax Awards ceremony in Singapore on 24th November. PwC: PwC was named India's Tax Firm of the Year. The company has over 6,600 employees in India and is one of the largest professional services firms in the country. Speaking on the occasion, Dinesh Kanabar, PwC tax leader, India said, "It is a tremendous achievement and we are delighted to receive this award. The award is in recognition of our commitment towards partnering with our clients in one of the most difficult years of our time." KPMG: KPMG was named India's indirect Tax Firm of the Year and was also named Asia's Transfer Pricing Firm of the Year. KPMG's Head of Tax, Uday Ved, said, "These awards are recognition of our commitment to the highest quality standards and thought leadership, as well as the trust posed by our clients on us." http://www.ukibc.com/news_and_media/articles/26_11_2009.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/26_11_2009.aspx The first Indian President to visit the UK in nearly two decades, Pratibha Patil will open the UK India Business Council's Annual Summit, UK-India Partnership in Action, on October 29th at Lancaster House, imparting a strong message to boost bilateral ties, trade and investment. Lord Mandelson, Secretary of State for Business, Innovation and Skills will address the delegates on the occasion. At the summit, business leaders and policy makers will recognise that liberalisation and reform of the Indian economy has been a long journey. India has travelled a long way, and, quite rightly, it has chosen its own direction and speed of travel. They will review how India has got into its current strong position. And preview the next leg of the journey and consider how UK companies have so far been able to contribute to India's growing economy, and how further economic reform will give UK Plc the opportunity to help India achieve "inclusive growth". UKIBC CEO Sharon Bamford said, "We are delighted to have the President of India opening our Summit. In the last three months, India's economic situation has improved and its position on the global stage strengthened with the growing importance of G-20 which is gaining prominence as the premier forum for managing the global economy. UK has also seen a jump in inward investment from India, which became the second largest investor in Britain in 2008-2009. The Indian economy has managed to continue to expand when most developed countries saw their economies contract. At the Summit, business leaders and policy makers will discuss the successful and emerging new business models. Despite economic downturn, business between UK and India has witnessed a flurry of activity. Mothercare, UK retailer for kids and expectant mothers, is forming a 51:49 joint venture with India's largest real estate company DLF. Premier Inn is planning to open 18 hotels in the next five years and 80 in 10 years with a total investment of £ 4.6 billion (Rs 3500-4000 crore). There are exciting opportunities in India - in sectors ranging from manufacturing and infrastructure, to life sciences, education and energy. At the Summit, discussions will cover emerging trends, business models and opportunities. An impressive line up of business leaders including Vittorio Colao, Vodafone, Gerry Grimstone, Standard Life, Lord Bagri, Metdist, Anil Shrikande, Rolls Royce India, Anwar Hasan, Tata Sons, Terry Hill, Arup and Professor Tim O'Shea, Vice Chancellor, University of Edinburgh, Baba Kalyani, Bharat Forge will share their views and success stories http://www.ukibc.com/news_and_media/articles/27-10-2009.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/27-10-2009.aspx The UKIBC is leading a business delegation to Ahmedabad on 30th November under its Emerging Cities programme. The delegation will focus on infrastructure and education sectors. Based on our landmark report 'Opportunities for UK PLC in Emerging Cities of India', UKIBC has identified nine emerging cities in India and will be taking business delegations in 2009/10 to these cities. In September, UKIBC took its first business delegation, led by Lord Davies, Minister for Trade, to Nagpur. It was a big success. We already have received tremendous response for our Ahmedabad visit which will provide the UK businesses with an opportunity not only to network and interact with Ahmedabad business houses but also facilitate one to one meetings. The three-day event will include a seminar identifying opportunities in Ahmedabad for UK businesses in various sectors at the Indian Institute of Management, a roundtable on education and a visit to riverside infrastructure project, GIFT. The event will provide a platform for future partnerships securing future ties between India and the UK. http://www.ukibc.com/news_and_media/articles/27-10-2009_ahmedabad.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/27-10-2009_ahmedabad.aspx "The recession has proven to be a blessing in disguise for India,'' firmly believes Meera Sanyal, country head, ABN Amro Bank."Recession has taught an entire generation that everything that goes up... comes down... The highs and lows of the sensex have changed the Gen-X for better,'' said Meera who was in the state capital recently to attend some programmes. She has many reasons to stand by her belief. "... Recession has made people take up less-paying but more stable jobs and hopefully some of them will not leave the country that needs them to turn the dream of `India - the Superpower' come true,'' she said as she recalled that 26 years ago when she had returned to India she was greeted with scepticism. Always willing to take up new challenges, Meera contested the last Lok Sabha elections as an Independent candidate from Mumbai. Though she could not win the election she put up a stiff challenge. "What a fool to return to India ... no one comes back ... is she a loser...'' were some of the many remarks Meera braved."The general perception and reasons behind braindrain were more or less same till recession made people think all over again,'' believes Meera. She said that till the pre-recession era, many youngsters took life for granted to some extent. "They have come to realise the value of time and money after recession and subsequent repercussions like retrenchments,'' she said. "The realisation,'' added Meera, "is important for there is a very fine line between consumption, expenditure and savings. Recession has taught many people this difference which is essential for sustainable growth and predictable future.'' http://www.ukibc.com/news_and_media/articles/28-10-2009.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/28-10-2009.aspx The UK Border Agency will temporarily cease to accept student visa applications under Tier 4 of the Points Based System at visa application centres in New Delhi, Chandigarh and Jalandhar. This is a temporary suspension and the UK Border Agency will begin accepting Tier 4 visa applications again as soon as possible. Customers who have already made appointments at the visa application centres in North India to submit their Tier 4 visa applications from 1 February onwards will have their appointments suspended until the UK Border Agency begins accepting Tier 4 visa applications again in these areas, and will then be given priority. Visa application centres in Western and South India will remain open for Tier 4 visa applications. Customers who are making applications in other visa categories are unaffected by this announcement. http://www.ukibc.com/news_and_media/articles/30-01-2010.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/30-01-2010.aspx The Indian economy has witnessed phenomenal growth over the last decade and is now poised to be a preferred destination for education organisations and investors looking to expand overseas, says a new report launched by leading business and finance advisors Grant Thornton UK LLP and the UK India Business Council. 'Education in India - Securing the Demographic Dividend' presents both the opportunities and challenges for UK educational institutions and investors considering expanding into India. It also provides insights into the regulatory aspects these businesses will need to consider in order to be granted access into the market. India's burgeoning population and increasing household income have created substantial demand for quality education that is challenging for existing schools and universities to fulfil. According to the report, by 2012 there will be 600 million people aged under the ages of 24 years old and the current education infrastructure is unable to support this volume of people. The report highlights two key challenges that any inward investor would face in planning to establish an education institution in India. Firstly, organisation would need to secure accreditation from the many education-specific regulatory bodies in India and secondly, a organisation would need to set up an operating structure legally permitted to generate profits given the restrictions regarding profits that are currently in place. David Barnes, Partner and Head of the Education Group at Grant Thornton says: "The UK has world class schools, colleges, universities and private sector players all with the capability to operate internationally and as such, we have achieved an internationally recognized competitive advantage in the education and skills sector. Coupled with extensive demand in India for a better quality of education, there is a huge market potential that UK companies could be part of." Sharon Bamford, Chief Executive Officer of the UK India Business Council says; "UK companies and institutions operating in the education sector are often unsure about how best to approach what is undoubtedly a complex market which requires resources, planning and a long term view. The good news is that support is available, both in terms of regulatory advice and in building the networks to crucial for success. As our report "Education in India: Securing the Demographic Dividend" demonstrates, the size of the opportunity cannot be ignored." http://www.ukibc.com/news_and_media/articles/31_03_2010.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/31_03_2010.aspx NEW DELHI: Anil Dhirubhai Ambani Group's market valuation soared 14 per cent in June quarter, the most among India's top five business houses, making it the third most valued group in the country. Anil Ambani-led Reliance ADAG's market capitalisation was at Rs 1,42,380 crore for the three-month period ended June 30, 2010, higher by about 14 per cent compared to March quarter. The seven listed companies of the Anil Ambani Group, led by Reliance Power and RCom, made their investors wealthier by Rs 16,969 crore. Big brother Mukesh Ambani-controlled Reliance Industries Ltd, however, maintains its numero uno position with a total M-cap of Rs 3,57,902 crore at the end of June quarter. to read more, click here. http://www.ukibc.com/news_and_media/articles/ambani.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/ambani.aspxIndia enjoyed a booming economy for over a decade andthree consecutive years of near 10% growth in its gross domestic product (GDP) before the global financial crisis ledto a slowdown last year.However, the country’s economy remains the twelfth largest in the world and the fourth largest by purchasing power parity (PPP), ensuring that India is still the land of opportunity for many investors andcompanies involved in upgrading its aging infrastructure.To put things in perspective, India still recorded an official GDP growth rate of 6.1% in 2009, and international recognition of its growing geo-political importance and G20 membership means that the nation has well and truly arrived on the world stage.In terms of aviation, sustained and pronounced economic growth has heralded the arrival of a host of new domestic and international carrierssuch as Kingfisher, Spicejet, Go Air, Paramount, IndiGo and Jet Airwaysand its subsidiaries Jet Konnect and JetLite.Competition is particularly fierce in the domestic market where the new start-ups have brought down ticket prices and made aviation more accessible to millions of Indians.http://www.ukibc.com/news_and_media/articles/apa_01_2010.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/apa_01_2010.aspx The PM's delegation to India last month was a tremendous success. The Prime Minister's speech in Bangalore, the Davos-style debate in New Delhi, the business delegation's meeting with Commerce Minister Anand Sharma and the sector roundtables were all productive. UKIBC took this opportunity to highlight UK-India trade, opportunities and case studies to its stakehoders and media. Our Chair Patricia Hewitt, UKIBC President Lord Bilimoria, Board Members Sir Thomas Harris, Standard Chartered, Ian Gomes, KPMG, and UKIBC members such as JCB, Benoy, A4e were interviewed in the media. Please find attached some clippings. CNBC Bloomberg Telegraph Sky We are pleased to announce that Richard Heald, vice chairman, NM Rothschild (India), has been appointed as the UKIBC CEO. http://www.ukibc.com/news_and_media/articles/augletter.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/augletter.aspx(The folowing press release is from Benoy) International, award-winning British architectural firm Benoy is delighted to announce the signing of three new high-profile contracts for the Company in India. These landmark developments will deliver world-class shopping, leisure, luxury lifestyle and exclusive residential living, enhancing the quality of urban life in India. Specialising in commercial design as the Architects of Bullring in Birmingham, Westfield in London, Ferrari World Abu Dhabi and Elements in Hong Kong, Benoy entered the Indian market in 2005. In a relatively short space of time, Benoy has become one of the most recognised international Architectural brands and a leading player in the market. Benoy is now realising India's aspiration for world-class globally-significant destinations in 17 locations: Aurangabad, Bangalore, Bhubaneshwar, Chandigarh, Chennai, Dehradun, Delhi, Gurgaon, Hyderabad, Jalandhar, Jamshedpur, Jodhpur, Kolkata, Kurla, Mumbai, Mysore and Pune. GKW Residences, Bangalore is situated on Bangalore's highly desirable Whitefield Road. This 195,000m² high-end residential development will feature a luxury apartment tower and exclusive private townhouses, landscaped with verdant green spaces. The client Phoenix Mills chose Benoy to realise what will become a highly sought-after residential development on a prime site in Bangalore based on the Company's proven track record. RMZ Bangalore . This will be the first retail venture for Benoy's client RMZ and as such they were keen to work with an award-winning, international retail and commercial architect to deliver their vision. The team of Benoy designers working on this project will take inspiration from the historical context of the site, and the climate, culture and commercial potential of its position. High Street Phoenix, Mumbai . Situated in the city heart of Mumbai adjacent to the existing Palladium Mall and soon-to-be-opened Shangri-La hotel, Phoenix Mills has appointed Benoy to design a 270,000m² prime mixed-use destination to include high-end serviced apartments, a hotel, office space and a retail mall. The Benoy team will create a central landmark for this vibrant commercial district. Chairman of Benoy, Graham Cartledge CBE, said: "We are delighted to announce three new contracts in India; these milestone schemes will continue to realise the aspirations of our clients and ultimately contribute to the evolution of the built environment in India. I am honoured to join the Prime Minister David Cameron, Dr Vince Cable, and a prestigious and diverse business delegation on this, the first official visit. There is a unique historical connection between the UK and India and we are honoured to play a part in its continuing story." Business Secretary, Dr. Vince Cable, said: "Benoy has achieved significant success around the world, opening the way for other UK creative companies. With India forecast to become the fastest-growing nation in the world this year, the potential for further partnership is huge. I congratulate them on winning these substantial projects and wish them every success." - END - Notes to Editors • Benoy is an international, award-winning firm of Architects, Masterplanners, Interior and Graphic Designers. Founded in 1947, Benoy has become a truly global player, a leading creative force and one of the top ten architectural practices in the UK. • Benoy has offices in the UK, Abu Dhabi, Mumbai, Singapore, Hong Kong and Shanghai and received the Queen's Awards for Enterprise in the category of International Trade in 2008. • Benoy was ranked 29th in the 'The Sunday Times International Track 100' (published 11 July 2010); short listing the top British private companies on international sales growth. • Striving to promote the British creative offering overseas, Benoy's Chairman Graham Cartledge CBE is a proactive Board Director of the UK India Business Council. Graham was also recently invited to be a member of Rt Hon Vince Cable's Asia Task Force. • Benoy's charitable trust supports a poverty-elimination house building project for Dalit families in Bangalore. Working in partnership with Habitat for Humanity, the Benoy Foundation built and renovated 144 homes housing some 600 people - families that once lived below the poverty line without sanitation, running water or secure accommodation. A team from Benoy's offices in London, Newark, Abu Dhabi and Hong Kong went out to take part in the building process in April 2008. Benoy's Chairman Graham Cartledge CBE will be travelling with the Prime Minister on the forthcoming India visit as part of the business delegation. For interviews, further information and imagery please contact Kitty Parkes. T: +44 (0) 207 404 7666 M: +44 (0) 787 028 2720 E: kitty.parkes@benoy.com http://www.ukibc.com/news_and_media/articles/benoyaug.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/benoyaug.aspxLondon and New York are not about to lose their spots as the world's leading financial centres but they are being challenged by emerging market upstarts in a potentially lucrative area: the management of funds moving between developing economies. Read more http://www.ukibc.com/news_and_media/articles/bigger_role_umbai.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/bigger_role_umbai.aspxLONDON: Deepak Lalwani, UK India Business Council Board Member and Director - India, at stockbroker, Astaire Securities, has been awarded an OBE in the Queen's Birthday Honours List this year in recognition to his contribution to the financial services industry. Speaking of the award Lalwani said: "I am humbled to receive this honour. I am grateful for the recognition of my contributions beyond stock broking; and, in particular for my passionate contribution to two great countries: the UK, my country of adoption and India, my country of origin." Patricia Hewitt, Chair UKIBC, said: "I know that all UKIBC members and partners will join me in congratulating Board Member, Deepak Lalwani, on his well-deserved award of the OBE in the recent Queen's Birthday Honour List. Deepak makes an invaluable contribution to the UKIBC Board, particularly in the regular updates he gives us on the Indian economy. We send him our warmest congratulations." Lalwani authors the influential "India Report" that informs key decision makers of the latest developments in the Indian economy. A qualified accountant, he is one of the two individuals of Indian origin to have been elected as a Member of The London Stock Exchange.At the NRI Institute's "India International Achievers Awards 2009, Deepak was honoured with the prestigious "Bharat Samman Pravasi Award". NOTES TO EDITORS About UKIBC ·The UK India Business Council (UKIBC) is the lead organisation supporting the British Government in the promotion of bilateral trade, business and investment between the two countries. About Deepak Lalwani ·Deepak Lalwani joined Astaire & Partners Ltd over 15 years ago and is widely regarded in the UK as an authority on India investments. He is an Executive Board member of the UK India Business Council (UKIBC). He is also a Chartered Fellow of The Chartered Institute for Securities & Investment (CISI), UK. Photo Caption Deepak Lalwani is presented the 'Bharat Samman Pravasi Award by Baroness Verma (UK) in New Delhi. http://www.ukibc.com/news_and_media/articles/deepak_lalwani_awarded_obe.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/deepak_lalwani_awarded_obe.aspx INVITATION OF VIEWS: The Department of Industrial Policy and Promotion has decided to release Discussion Papers on some subjects on FDI. In the series of these Discussion Papers, this is the second paper on 'Foreign Direct Investment (FDI) in multi-brand retail trading'. Views and suggestions are specifically invited on Section 7 of the paper entitled 'Issues for Resolution' apart from any other issues of concern relating to FDI in multi-brand retailing. These views/ suggestions backed up by facts, figures and empirical evidence may be furnished by 31 July, 2010. Read more... http://www.ukibc.com/news_and_media/articles/dipp_discussion_paper_on_retail.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/dipp_discussion_paper_on_retail.aspxEssar Energy, the integrated energy company, has announced that following the quarterly review of the FTSE's U.K. Index series, its shares would be included in the FTSE 100 index of leading shares listed on the main market of the London Stock Exchange. Read the full article here http://www.ukibc.com/news_and_media/articles/essar_energy_on_londons_ftse100.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/essar_energy_on_londons_ftse100.aspxWith UKTI in India, the UKIBC is taking an 18-strong delegation from UK skills businesses to Mumbai and New Delhi next week. In New Delhi, they will play a central part in the FICCI Skills Summit. All delegates are members of the UK India Skills Forum, managed by the UKIBC. At the Summit, the forum members will present the UK's unique excellence in technical and vocational training, particularly the training of trainers model, which is en in India as an effective way of upskilling huge numbers young people in India. The goal is to establish a consensus that the UK should be India's partner of choice in education and training. During the opening ceremony of the FICCI Skills Summit, the UKIBC and Indian Ministers for Labour and HRD will present the UK India Skills Forum Awards. The categories are Best Vocational Skills Provider, Best Skills Project in Rural Communities, Best Train the Trainer Program, Outstanding Commitment to Quality in 2010 and Best UK Skills Provider Project in India. The awards ceremony will be a celebration of UK India collaboration in the field of skills development. http://www.ukibc.com/news_and_media/articles/ficci.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/ficci.aspxThe government has cleared foreign investment proposals of seven media and entertainment companies to bring in Rs 472.48 crore, but deferred a decision on four others, including Zee Entertainment and Jagran Media. Read the full article here . http://www.ukibc.com/news_and_media/articles/govt_clears_fdi_proposals_from_7_media_cos.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/govt_clears_fdi_proposals_from_7_media_cos.aspxFinance Minister Pranab Mukherjee today said that the government is in the process of setting up 8 more income tax overseas units, including in the US and Britain, to facilitate exchange of tax related information. Read the full article here http://www.ukibc.com/news_and_media/articles/govt_more_overseas_it_units.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/govt_more_overseas_it_units.aspx Business Standard Reporter | 2010-06-22 01:30:00 Hinduja Global Solutions (HGSL), a business process outsourcing company and part of the Hinduja Group, today announced that it had bought UK-based customer relationship management company Careline Services. The financial details of the deal were not disclosed. The acquisition will act as a launch pad for HGSL to enter the UK and European markets and will also be a platform to cross-sell its global delivery model to Careline's European clients. Ashok P Hinduja, chairman of Hinduja Group India, recently told Business Standard that the group was looking to acquire BPO units in the UK and the US as part of its plan to deploy idle cash. HGSL had a cash and cash-equivalents of Rs 648 crore as of March 31, 2010, of which Rs 577 crore was with Pacific Horizon, a wholly-owned Mauritian subsidiary. Hinduja had said that the BPO deals were expected to be finalised over the next few weeks. While the BPO outfit in the UK, with which the Hindujas were in talks, had sales of around 25 million pound (around Rs 170 crore), the US company had revenues of $250 million (around Rs 1,000 crore). Careline Services is a contact centre provider, serving more than 20 customers across verticals such as government, fast moving consumer goods, financial services, automobiles, telecom and retailers. It has over 1,000 employees across three sites in the UK. It handles in excess of 50,000 customer interactions every day across multiple channels and in 14 languages. The chief executive of Careline Services, senior management team and key employees of Careline Services will continue in their roles after the acquisition. This is HGSL's first acquisition in the UK and it expects to grow its business rapidly in the next few years. With the acquisition, HGSL will have a presence in 29 delivery centres across the USA, India, Philippines, Canada, Mauritius and the UK, and its global headcount will cross 16,000 people. "Careline is a strategic fit as it opens up a new geography and provides access to new clients. This enhances our ability to meet customers' expectations of delivering services across different geographies," said Partha Sarkar, CEO of HGSL. Charles Cooper-Driver, the managing director and co-founder of Careline Services, added that the acquisition marked the next phase of growth for Careline and strengthened its ability to act as a strategic business partner to clients http://www.ukibc.com/news_and_media/articles/hinduja.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/hinduja.aspx The Economic Times New Delhi: In a move that will change classroom education across the country, the ministry of human resource development unveiled a low-cost computer with a price tag of Rs 1,500 or $35 on Thursday. "This is our answer to MIT's $100 computer," human resource development minister Kapil Sibal said. Read more... DISCLAIMER: The above items are not UKIBC press releases but UK India related business information collected from various sources http://www.ukibc.com/news_and_media/articles/hrd_unveils_low-cost_computer_for_students.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/hrd_unveils_low-cost_computer_for_students.aspx HSBC is poised to acquire Royal Bank of Scotland's Indian business as the Scottish bank continues its multi-million pound asset sell-off. Sources close to RBS yesterday confirmed talks with HSBC were at an "advanced stage" over the Indian division, which is one of the largest foreign banks operating on the subcontinent. RBS's Indian business accounts for 1.3 million customers and employs 1,800 staff in 28 branches. It is thought a deal could be concluded within weeks although one source insisted there was "no firm timetable". A spokesman for RBS would not comment on the deal. He said: "We are making excellent progress in reducing the size of our balance sheet and making the bank safer. "Since the announcement of our strategic plan in February 2009 we have exited or sold more than 20 businesses." RBS chief executive Stephen Hester's strategy of withdrawing from 16 countries and shrinking the bank's operations in a further 21 nations gained pace last week with the announcement that it had disposed of its assets in Kazakhstan, Pakistan and the United Arab Emirates (UAE). HSBC acquired RBS's Kazakh assets for $52 million (£35m). The Pakistani business was sold to Faysal Bank for £34m, while Abu Dhabi Commercial Bank bought the UAE division for £68m. RBS acquired its Indian business as part of its takeover of Dutch bank ABN Amro as part of a coalition. Hester intends to sell off £258 billion of "non-core" assets. His predecessor, Sir Fred Goodwin, expanded the bank to 54 countries before it was forced to go to the UK government for a taxpayer bail-out during the global financial crisis. http://www.ukibc.com/news_and_media/articles/hsbc_set_to_buy_indian_operation.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/hsbc_set_to_buy_indian_operation.aspx I ndia's trade deficit expected to widen 2 Jul 2010, 1615 hrs IST,AGENCIES India's trade deficit is forecast to widen in the 2010/11 fiscal year as its rebounding economy raises demand for manufacturing and oil imports, while the euro zone debt crisis hits exports, mainly in software. A wider deficit would pressure the partially convertible rupee, which has lost more than 5 per cent from its 2010 peak of 44.18 to the US dollar. India's trade deficit was $117.3 billion in 2009/10, down from $118.7 billion in 2008/09. But a Reuters survey in April forecast the gap would widen to $132.70 billion in 2010/11 and $154.50 billion in 2011/12. Below are scenarios on India's trade deficit: - EURO ZONE DEBT CRISIS SETTLES, HELPING EXPORTS, POSITIVE FOR RUPEE, STOCKS: Probability: High An easing euro zone crisis would support demand for exports to the European Union and resulting confidence in emerging market assets could help both Indian stocks and the rupee. EU finance ministers have agreed on a financial safety net of $1 trillion for bloc members to restore confidence. "This is a temporary flight to safety," said Sajjid Chinoy, an economist with JPMorgan in Mumbai, referring to foreign portfolio outflows in May. "There is enough liquidity globally looking to come to emerging markets and India is one of them." Foreigners pulled $2 billion from Indian stock markets in May as risk aversion heightened on fears of a Greek debt default. An easing of skittishness in global markets has encouraged foreign investors to plough back about $2.3 billion into Indian stocks in June. - OIL PRICES RISE, ADD TO IMPORT BILL, WIDEN TRADE DEFICIT, WEAKEN RUPEE: Probability: Moderate India imports more than two thirds of its oil needs and any price spike add to its bill and widens the trade deficit. "With current oil prices and our expecation that average crude oil prices will be closer to $82 per barrel, we expect the oil import bill to remain at manageable levels in FY11," said Anubhuti Sahay, an economist at Standard Chartered in Mumbai. Oil imports in 2009/10 were $85.5 billion, lower than $93.7 billion in 2008/09. Domestic crude refiners are the biggest importers and dollar demand from them usually peaks at the end of every month, pressuring the rupee. "However, should the oil prices spike, it will inflate the oil import bill. Our analysis indicates that every increase of $1 per barrel in Indian crude basket prices pushes up the annual import bill by $1.2 billion," said Sahay. - EURO ZONE CRISIS WORSENS, WIDENS TRADE DEFICIT BY CRIMPING EXPORTS, WEAKENS RUPEE, STOCKS: Probability: Low The chances of the euro zone debt crisis deteriorating have lessened a lot from May, when worries of a Greek debt default shook world markets. The EU accounts for a fifth of India's exports and if the crisis there is prolonged or takes a turn for the worse, it could widen the trade deficit by hurting demand from the 27-nation bloc. "Exports look better than last year. But they will receive some setback because of euro zone. There won't be a huge contagion, but global demand will weaken for our exports," said Rupa Rege Nitsure, chief economist at Bank of Baroda. The EU accounted for just over a fifth of India's exports in April-October 2009, central bank data shows. By comparison, Asia accounted for 28 per cent and North America for 11.9 per cent. "It would be whether the risk aversion theme is back or not. I am of the view the euro zone is in serious stress and the world is not an as settled place than it was before 2008," Ashish Vaidya, head of trading for fixed income, currencies and commodities at UBS in Mumbai. http://www.ukibc.com/news_and_media/articles/indiadeficit.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/indiadeficit.aspxLondon: Cognizant first, TCS third, Infosys fourth in Performance and Satisfaction study. Indian information technology (IT) service providers Cognizant, TCS and Infosys have topped the latest ranking of service providers in Europe, in a survey done by EquaTerra, an IT advisory service provider. In the Performance and Satisfaction (SPPS) study by EquaTerra for 2009-10, Cognizant has captured the first position, with a 79 per cent score. TCS and Infosys have taken the third and fourth position, with 75 per cent and 74 per cent scores, respectively. The second place was taken by US company Compuctacenter, with 78 per cent. Read more... http://www.ukibc.com/news_and_media/articles/indian_it_firms_top_europe_survey.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/indian_it_firms_top_europe_survey.aspxIt is now mandatory for any foreign worker to have an annual salary above Rs. 11 lakh to get an Indian employment visa. A Ukrainian citizen has approached the Bombay High Court against the ministry of external affairs, challenging a policy that mandates a minimum annual salary of USD 25,000 (over Rs. 11 lakh) as compulsory requirement for getting an employment visa, reports Nauzer K Bharucha of the Economic Times. Read more http://www.ukibc.com/news_and_media/articles/india_employment_visa.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/india_employment_visa.aspx India's government won a month to respond to a petition in the southern city of Chennai for 31 foreign law firms including White & Case LLP and Clifford Chance LLP to be banned from operating in the country. Read More... http://www.ukibc.com/news_and_media/articles/india_government_foreign_law_firm_ban_bid.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/india_government_foreign_law_firm_ban_bid.aspx Have you thought of expanding your business by engaging with India? Don't miss the opportunity to join UK infrastructure companies, leading architects, civil engineers, construction companies, utility companies and built environment sector specialists in a delegation to Chennai and Coimbatore in southern India. • Participate in the Green Buildings Congress 2010 in Chennai • Use UK lounge at the Green Congress to meet clients • Promote your work and win business • Go on site visits • Meet local contacts, potential buyers and businesses partners • Meet key officials in urban development • Exclusive networking The Government of India is projected to invest over USD 1 trillion in infrastructure over the next 10 years. This presents huge opportunities for UK companies in the infrastructure sector. In southern India in particular, there are major opportunities in commercial and residential complexes, special economic zones, transport, high speed rail corridors, and major highway and ports projects. Join our delegation and explore the business opportunities. For more information, go to www.ukibc.com . To register email events@ukibc.com http://www.ukibc.com/news_and_media/articles/india_infrastructure_delegation.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/india_infrastructure_delegation.aspx livemint.com, New Delhi: In an attempt to bridge a funding shortfall and help banks avoid asset-liability mismatches, the government plans to create a Rs50,000 crore debt fund that will raise low-cost and long-term resources for re-financing power projects. "The fund is in the process of being formulated. Takeout financing is what we are looking at," said Union power secretary P. Umashankar. Read More DISCLAIMER: The above items are not UKIBC press releases but UK India related business information collected from various sources http://www.ukibc.com/news_and_media/articles/india_plans_rs50000cr_power_sector_debt_fund.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/india_plans_rs50000cr_power_sector_debt_fund.aspx The Hindu Business Line: August 16, 2010 The Prime Minister, Dr Manmohan Singh, has approved the setting up of a National Innovation Council to prepare a road map for the decade of Innovation 2010-2020. The National Innovation Council will be headed by Mr Sam Pitroda, Adviser to the Prime Minister on Public Information Infrastructure and Innovations. The council has been given the mandate to evolve an Indian model of innovation focusing on inclusive growth and creating an appropriate eco system conducive to foster inclusive innovation. It will delineate appropriate policy initiatives within the Government required to spur innovation. It will also promote the setting up of Sectoral Innovation Councils and State Innovation Councils. Read more... DISCLAIMER: The above items are not UKIBC press releases but UK India related business information collected from various sources http://www.ukibc.com/news_and_media/articles/india_pm.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/india_pm.aspxIndia proposes to impose a capital gains tax on all stock transactions by Indians and overseas funds, aimed at boosting revenue and pare the budget shortfall from a 16-year high. Read the full article here . http://www.ukibc.com/news_and_media/articles/india_proposes_tax_on_gains_from_stock_sales_funds.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/india_proposes_tax_on_gains_from_stock_sales_funds.aspxIndia's ambitious target of Rs.41 lakh crore investment in key infrastructure sector in the 12th plan period (2012-17) is likely to face a financing shortfall of upto 30 percent or Rs.12.3 lakh crore, Finance Minister Pranab Mukherjee has said. "While I am hopeful of meeting the target for 11th plan investment, as per our preliminary estimates, there may be a substantial gap of upto 30 percent in financing the even more ambitious target of Rs.41 lakh crore of investment in infrastructure for the 12th plan period," Mukherjee said. The finance minister told the parliamentary consultative committee attached to his ministry that the fundamental constraint in infrastructure financing was linked to asset liability mismatch of the banks and their concentration risk concerns, an official statement said Wednesday. Read more... DISCLAIMER: The above items are not UKIBC press releases but UK India related business information collected from various sources http://www.ukibc.com/news_and_media/articles/infra_fin.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/infra_fin.aspxMUMBAI: As Indians grow richer and save more for retirement, the share of the Indian life insurance industry has increased in world markets. India's ranking among life insurance markets has risen from number 10 last year to the number 9 position, displacing Taiwan. When life insurance industry was opened for competition in 2000, India ranked number 20 among life insurance markets and accounted for a mere 0.5% of the world premium. Ten years on, the share has improved to 2.45%, overtaking developed markets in the West such as Spain, the Netherlands, Switzerland, Sweden Belgium, Ireland and Finland, South Africa Australia and Canada. According to Swiss Re's annual study of world insurance markets on an inflation-adjusted basis, global insurance premiums contracted by 1.1% to $4.06 trillion in 2009. This is an improvement over 2008 when global premiums shrank 3.6%. Life premiums fell 2% to $2.33 trillion in 2009 while non-life premiums remained flat at $1.73 trillion. "In most countries (66%), insurance grew faster than GDP, which shows the robustness of the industry. As credit and stock markets recovered in 2009, the industry was able to restore its capital base. Investment results and overall profitability also improved. For 2010, it is expected that the overall premium growth in the industry will turn positive and profitability and balance sheets will continue to improve," Swiss Re said in its World Insurance 2009 report. The biggest drop in market share has been witnessed by the United States, which accounted for over 29% of world premium in 2000, but now has only 21% of world life insurance premium. Japan too has seen its share drop from 26.4% to 17.2%. An interesting aspect of the life insurance business in India is that it has grown significantly faster than the gross domestic product. The level of insurance penetration (insurance as a percentage of GDP) in India at 4.6% is double the insurance penetration levels in China (2.3%). The report shows that adjusted for inflation, India's life insurance industry grew 10% to Rs 2,73,604 crore. Those within the industry say the life insurance has grown largely because individuals are channelising retirement savings through insurance because other savings instruments are not that well developed. According to insurers, the Indian market is not yet a mature market, which is reflected in the low levels of premium paid towards protection. When it comes to non-life insurance, where premium is paid purely of protection (health, auto and property), India ranks 26th and its share of world insurance market is 0.46%. http://www.ukibc.com/news_and_media/articles/insurance.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/insurance.aspx1. What are the main objectives of the CII delegation to the UK this year? After deregulation of the Indian economy commenced in 1991, the Confederation of Indian Industry initiated the Indo-British Partnership Initiative to take advantage of the historical economic relationship. Since then, we have had annual missions of top Indian CEOs to UK with a view to intensifying the economic partnership, building stronger and closer business relationships and fostering bilateral trade and investment. This year's mission is particularly relevant in light of the new government in UK. We have been privileged to interact with Prime Minister David Cameron in earlier annual missions and look forward to renewing our contacts with his government. As every year, we will have meetings with top policymakers, parliamentarians, administration, business leaders, and academia. 2. What are the Indian businesses expecting from the new UK Coalition government? We are delighted that for the first time, the Queen's speech explicitly mentioned India and that the coalition's programme for government talks about a 'new special relationship' with India. The economic partnership of the two countries is expected to be a major constituent of the envisaged relationship. An outline of the dimensions of special relationship would lend greater clarity to our efforts and we look forward to discussing the business perspective with the government. Continued and reinvigorated encouragement to industry of both sides as well as new initiatives from both governments would be instrumental in promoting bilateral economic linkages. India and UK achieved bilateral trade of $12.5 billion in 2008-09, and we need to overcome the slowdown caused by the global economic crisis. We strongly believe that trade in goods and services can be doubled in the next three to four years, while investments in both directions can be more vigorous. 3. What UK sectors are of utmost interest to the Indian businesses? Indian businesses look to UK for upgrading their technology. This has led to high level of Indian investments in the UK. Indian companies have also leveraged UK's facilitative business environment to access markets in the EU region. While IT has been a significant interest for Indian industry in UK, other sectors of interest are manufacturing and engineering sectors, life-sciences industries, and high technology innovation sectors. We would like to see a far greater presence of UK financial companies in India's infrastructure development mission and envisage a greater role of British firms in engineering consultancy, maintenance and related services sectors in infrastructure, innovation in manufacturing and technology partnerships. We greatly value British expertise in the services sectors and look forward to more industry interaction across all services areas and especially in the knowledge-intensive sectors. 4. UK and India have old ties, how can they build new synergies? The UKIBC has highlighted that India offers new opportunities in its second cities. We are delighted that UKIBC will be taking up new initiatives to facilitate the participation of UK companies in these pulsating new centers of growth. In fact, rural India too is emerging as a huge viable market, as the Indian government has done much to pump purchasing power in the hands of the rural poor. Secondly, the SMEs of both countries are vibrant thriving entities and can benefit much from cooperation. Third, large sections of Indian population are entering the markets as incomes increase. However, innovative new products and delivery formats would have to be instituted to tap these markets. Companies that innovate in a relevant manner can access huge opportunities for growth. UK businesses would have to have a long-term perspective on doing business in India and enter the markets for the long haul. 5. What are the main challenges faced by Indian companies in the UK? The business environment in the UK is very positive and facilitative. Indian companies have proved their interest in doing business in the UK with their large investments across sectors. A few anomalies exist in areas such as visas and immigration policy which can hinder full flow of funds and people between India and the UK. We have been apprising the government of our concerns. We are also waiting for the policy on cap on immigration to see how it would affect Indian investments in UK. 6. Indian companies want to move up the value chain. How can UK companies help them? India is a technology-deficient country. This is an area where we look to UK companies for support and transfer of relevant technologies. We would also like to learn from UK businesses about boosting innovation in manufacturing, commercial use of research and development, leveraging design for better products, etc. CII has set up a mission to promote innovation as part of the DNA of Indian companies, and we are working with UK institutions in this process. We believe the UK will benefit from accessing Indian markets by using their superior technologies for manufacturing in India. 7. How can UKIBC help CII achieve its goals in the UK? CII works to promote business in a global environment. Our aspirations meld well with objectives of UKIBC and we have been working together to meet our common goals. We would like to elevate our partnership with UKIBC in dedicated sectoral and regional missions, SME linkages, technology partnerships, and greater participation of businesses in trade fairs and exhibitions in both countries. Increasing industry interaction is key to elevating the bilateral economic partnership. http://www.ukibc.com/news_and_media/articles/interview_cii_dg.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/interview_cii_dg.aspx The PM's delegation to India last month was a tremendous success. We were delighted that our Chair, Patricia Hewitt, was able to send her delegation diary to our members. Patricia said that, for her, the highlights were the PM's speech in Bangalore, the Davos-style debate in New Delhi, the meeting with Anand Sharma, and the education and skills, infrastructure and low carbon roundtables. Patricia also welcomed the announcement of a UK India CEO's Forum, to be co-chaired by Peter Sands and Ratan Tata. The UK made a strong impression in India and the visit reinforced to UK businesses the opportunities in India. The UKIBC helped spread the word, with our Chair Patricia Hewitt, our President Lord Bilimoria, and Board Members Tom Harris and Ian Gomes featuring in the media. As did UKIBC members JCB, Benoy, and A4e. Please find the relevant clippings attached . http://www.ukibc.com/news_and_media/articles/kevin_foreword_august.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/kevin_foreword_august.aspx I'm writing as the two day CII CEO delegation, led by Commerce Minister, Anand Sharma, comes to a close. It has been a fantastic 48 hours, which have confirmed just how strong the bilateral business relationship is. What has been most striking is the renewed, sharper focus from the UK Government and business. In a speech to the UK business community at the LSE yesterday, Mr Sharma stressed the vital importance of "inclusive growth" in India. Key aspects of this are education and skills provision and infrastructure development. Both areas offer great opportunities for the UK. A UK strength that was recognized was our technology. Whether it is in low carbon, engineering, life sciences or ICT, UK technology is high on the Indian CEO's shopping list. The challenge for the UKIBC, UKTI and our other partners is, of course, converting the positive atmospherics and un-tapped potential into increased trade and investment. I am pleased to say that our membership continues to grow, with CA Traffic Limited, Page Corporate Investigations Limited, RAPRA Ltd and RSG Consulting among our newer members. But, naturally, we want to expand the membership and have therefore designed a special offer for those that join during July: a free place on one of our forthcoming delegations and a chance to win a free return ticket to India. More details of this offer are here. Yours sincerely Kevin McCole http://www.ukibc.com/news_and_media/articles/kevin_foreword_june.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/kevin_foreword_june.aspx In a letter to the UKIBC President, Lord Bilimoria CBE, DL and our Chair, Rt. Hon. Patricia Hewitt, the Business Secretary wrote, "India's journey of economic reform over the last two decades has created new opportunities for British companies across a range of sectors - from infrastructure to life sciences to advanced engineering. It can be a particularly rewarding market for companies that are dynamic and innovative. However, there is a real need to raise awareness in the UK of the changing commercial landscape in India, and the UK India Business Council plays an important role in working with UKTI to educate British companies about how they can best position themselves to succeed in this challenging and exciting market. You know of my personal, longstanding, interest in India and my wish to make a personal contribution to strengthening commercial links." http://www.ukibc.com/news_and_media/articles/letter_from_the_business_secretary.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/letter_from_the_business_secretary.aspxIn a letter to the UKIBC President, Lord Bilimoria CBE, DL and our Chair, Rt. Hon. Patricia Hewitt, the Prime Minister wrote, "The UK's relationship with India is indeed special in many respects, not least because of the increasing trade and investment ties between our two nations. India's phenomenal growth in the last two decades has created exciting new opportunities for British companies. This has in turn created a pressing need to ensure that companies are well-informed of these opportunities and able to capitalise on them. I welcome the UKIBC's role in involving the private sector and adding value to the work of UKTI in raising awareness and disseminating these opportunities to UK companies. I am of course keen to visit India at an early stage. I very much appreciate your offer of support, and wish the UKIBC every success in helping UK companies to win business in India." http://www.ukibc.com/news_and_media/articles/letter_from_the_pm.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/letter_from_the_pm.aspx LONDON: British high street retailer Marks and Spencer (M&S) is to more than double its retail presence in India, targeting 50 stores in the next three years. M&S currently operates 17 stores in India through a joint venture with Reliance Retail. Last week it opened its latest store in Chennai. A spokesperson for M&S told just-style.com, the UK apparel and textile industry's online source, that the joint venture with Reliance Retail has allowed it to "gain better control" in India. (read more ) http://www.ukibc.com/news_and_media/articles/marks.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/marks.aspx livemint.com Reuters New Delhi: Heavy showers, particularly in soybean regions, have narrowed the shortfall in India's monsoon rains to 9%, raising hopes of strong harvests in the world's leading consumer of rice, vegetable oils and sugar. Read More DISCLAIMER : The above items are not UKIBC press releases but UK India related business information collected from various sources http://www.ukibc.com/news_and_media/articles/monsoon_shortfall_narrows_crops_gain.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/monsoon_shortfall_narrows_crops_gain.aspxMukesh Rajani, Partner and Leader of PwC's India Business Group, has joined the UK India Business Council (UKIBC) Executive Board. He has been with PwC for 28 years and has extensive experience of advising businesses on cross border matters. He has been actively involved with India for over 15 years and has led on many of the firm's largest Indian inbound and outbound transactions. He has assisted a large number of companies in establishing or growing their operations in India and helped many Indian companies who are expanding abroad and seeking listings in the UK market. Welcoming his appointment, UKIBC Chair Patricia Hewitt said, "I am delighted that Mukesh Rajani has joined the Board of the UK India Business Council. PwC is one of the leading champions of closer economic ties between the UK and India and we welcome their continuing support as well as the contribution that Mukesh personally will make." Rajani said, "It is an honour to have been appointed to the UKIBC Board and continue working with UK and Indian businesses to forge strong alliances between our countries. I look forward to working with my Board colleagues to make these relationships even stronger." Over the years Mukesh has dealt with a wide range of companies including those in financial services, consumer and industrial products, technology, media, information and the communication sectors. His clients include large MNCs, companies in the FTSE 250 and those that are privately owned. Ends For more information, please contact Press Office on 02076923045 or email Ishara.Callan@ukibc.com NOTES TO EDITOR About UKIBC The UK India Business Council (UKIBC) is the premier membership-led organisation supporting the UK Government in the promotion of trade, business and investment between the two countries. To see the full list of Board Members, please go to www.ukibc.com About PricewaterhouseCoopers PricewaterhouseCoopers ( www.pwc.com ) provides industry-focused assurance, tax and advisory services to build public trust and enhance value for our clients and their stakeholders. More than 163,000 people in 151 countries across our network share their thinking, experience and solutions to develop fresh perspectives and practical advice.http://www.ukibc.com/news_and_media/articles/mukesh.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/mukesh.aspx Agencies Posted online: 2010-06-17 19:20:54+05:30 Bangalore: Mumbai outpaced Bangalore, with a margin of about Rs 200 crore, to become India's top biotech city in terms of revenue while city-based bio pharmaceuticals major Biocon clocked the highest revenue in 2009-10. Biocon, known for its insulin and cancer drugs, topped the Biospectrum-ABLE list of top 20 Biotech companies after a gap of four years growing at 29.34 per cent to record revenues of Rs 1,180 crore, said the eighth annual survey. The survey has been jointly conducted by the Association of Biotechnology Led Enterprises (ABLE) and monthly journal BioSpectrum from the CyberMedia group based on inputs from over 150 biotech companies. According to the survey, the Indian biotech industry has grown three-folds in just five years to report revenues of USD three billion in 2009-10, a growth of 17 per cent over the previous year. The Biopharma sector contributed nearly three-fifth to industry's revenues at Rs 8,829 crore, a growth of 12 per cent followed by Bioservices at Rs 2,639 crore and Bioagri at Rs 1,936 crore. The remaining revenue came from Bioindustrial segment with a contribution of Rs 564 crore and Bioinformatics at Rs 231 crore. The sector earns a little more than half of its revenue from exports. Biopharma and Bioservices sector contributed 63 per cent and 33 per cent to the total biotech exports, respectively. The Bioagriculture, Bioindustrial and Bioinformatics sectors remained focused on domestic operations bringing in nearly 90 per cent of their revenues from India. The BioSpectrum study notes that the biotechnology ecosystem has become strong with technology providers and the biotech education sectors playing a key role. While Biocon was number one, Pune-based Serum Institute of India slipped to the second spot with revenues of Rs 850 crore. Panacea Biotec, Nuziveedu Seeds and Reliance Life Sciences were ranked number three, four and five, respectively. The next five positions went to Quintiles, Rasi Seeds, NovoNordisk, Shantha Biotech and Mahyco. Western India continued to dominate India's biotech industry with 46 per cent share in the overall revenues of Rs 14,199 crore. The 137 companies in the region clocked Rs 6,631 crore during the year increasing the region's share in the overall revenues by three per cent over 2008-09, thus gaining a lead of six per cent over South. Gujarat's share in the total revenue grew by about 50 per cent to cross Rs 1,100 crore. West is home to top Bioagri companies such as Monsanto, Mahyco and Ajeet Seeds and MNCs like GlaxoSmithKline, Roche, Aventis Pharma, Wyeth and Quintiles. Four of India's top ten services companies (CROs) are also based out of West, including the number one CRO in the Indian industry - Quintiles India (Rs 375 crore). http://www.ukibc.com/news_and_media/articles/mumbai_first.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/mumbai_first.aspx EuropeanUnion will discuss giving pan-Europe work permits in the coming session, saidan official from Nasscom, which has been lobbying for such a proposal for overa year now. If this comes to pass, it would be a big win for IT companieslooking at Europe, which contributes revenues second only to the US for mostbig IT companies. "Europe is becoming more and more important.Today, it constitutes 30% of business, out of which 18% comes from the UK. Butthe remaining 12% is from the rest of the European region and its becoming aproblem to get multiple employment visas. We are not able to service customersas well and at the same time it is very expensive. So, this new proposal hasbeen welcomed by the IT industry and the European Commission," Nasscompresident Som Mittal told ET NOW on Tuesday.The proposal discussed between the Nasscom and theEuropean Commission basically involves the approval of "intra-corporate transferees. "Nasscom has already put out a discussion paper titled "The needfor flexible employment markets in a globalising world," which discusses themerits and role of intra-corporate transferees as a successful business modelin Europe."Thisis being formally proposed in the charter and will come up on the EU agendawhen the commission meets post-July. So it will be discussed between July andDecember," said Ameet Nivsarkar, vice-president-global trade development,Nasscom.Industry officials and analysts, too, are positiveabout the development. It will not only cut down cost and processes involved inapplying for multiple visas but it will also enable easier movement of peopleacross Europe. For example, if a software professional working on a SAP implementation project for a client in France, has to attend to the sameclient's office in Germany for a couple of days, he will be able to use thesame visa instead of applying for a fresh permit."Certain countries in the EU such as Germany andFrance welcome IT professionals to work there while some others are moreresistant. So a single work permit will help in such cases. Also, IT companiesneed not worry about work visas when they bid for projects in some regions,"said Gartner India's principal research analyst Diptarup Chakraborti.At the same time, a senior official from a top ITcompany said, "The European region is largely under-penetrated apart from UK,France and Germany. So, this proposal can give access to multiple locations. Wecan also see multiple deployment of applications going forward. So, there is acost and convenience implication."A change of this nature will, however, require theapproval of the European Commission first and then the consent from everymember of the EU. Mr Mittal estimates that it may take a year or two beforeit's finally implemented. (economic times) http://www.ukibc.com/news_and_media/articles/nasscom.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/nasscom.aspx Bloomberg Businessweek India's Tata Group has created a five-member selection committee to find a successor for Ratan Tata -- one of the country's most venerated business figures -- when he retires in December 2012, the board said Wednesday. Read more... DISCLAIMER: The above items are not UKIBC press releases but UK India related business information collected from various sources http://www.ukibc.com/news_and_media/articles/now_hiring_new_chairman_for__tata_group.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/now_hiring_new_chairman_for__tata_group.aspx(The following press release is from the LSE) INDIA'S NATIONAL STOCK EXCHANGE AND LONDON STOCK EXCHANGE GROUP SIGN LETTER OF INTENT - Agreement to explore feasibility of mutual licensing of indices, enabling access to each other's markets - Training and education on SME markets London Stock Exchange Group (LSEG) and India's National Stock Exchange (NSE) today signed a Letter of Intent to evaluate joint strategic business opportunities, and to co-operate together more closely in the future. As part of the Letter, both exchanges declared their intent to explore the feasibility of an agreement whereby FTSE Group may licence the FTSE 100 Index to the NSE, and whereby the NSE may licence the S&P CNX Nifty (Nifty 50) to LSEG for the purpose of issuing and trading options and other index contracts. It also conveys the intention of both parties to evaluate other joint strategic opportunities, such as allowing access to each other's market as and when regulatory framework permits. Additionally, the two signatories will explore the possibility of holding joint training & education courses and seminars with a particular focus on Small and Medium sized Enterprises (SMEs). The Letter of Intent was signed in Mumbai by Xavier Rolet, Chief Executive of LSEG and Chitra Ramkrishna, Joint Managing Director of the NSE, in the presence of the Hon. George Osborne MP, the Chancellor of the Exchequer of the United Kingdom, who is leading a high profile British business delegation to Mumbai. Speaking at the signing Xavier Rolet said: "The Letter of Intent we have signed with the NSE today illustrates London Stock Exchange Group's commitment to India, and we believe it will lead to significant benefit for the customers and shareholders of our respective exchanges. We are optimistic about India's remarkable growth story and feel strongly that a business relationship with India's leading stock exchange opens exciting investment opportunities for Indian investors in international companies, as well as giving international investors greater opportunities to participate in India's growth." Ms. Chitra Ramkrishna said: "We are confident that the Letter of Intent with the London Stock Exchange will open up newer investment opportunities for Indian investors and expand the bouquet of investible instruments NSE platform provides. We also hope to draw upon the expertise of LSE in the SME segment for the benefit of Indian SMEs and investors." -ends - To read the press release, click here . FOR FURTHER INFORMATION CONTACT: NSE Corporate Communications Phone +91 22 26598148 cc_nse@nse.co.in + OR London Stock Exchange Group Mohan Bhuyan, Media Representative (India), London Stock Exchange +91 9810058564 mbhuyan@gmail.com OR Patrick Humphris, Press Office, London Stock Exchange Group + 44 (0)20 7797 1222 newsroom@londonstockexchange.com Notes to Editors: 1. There are currently 66 Indian or India focussed companies on the London Stock Exchange's markets. Collectively they have raised US $ 7.5 billion. A record £82.5 billion was raised through new and further issues of equity on the London Stock Exchange during the course of 2009. Over US $ 7.7 billion has been raised by IPOs in London so far in 2010 of which Indian companies accounted for just over US $ 2bn. About London Stock Exchange Group: London Stock Exchange Group (LSEG) incorporates Borsa Italiana and the London Stock Exchange. It has over 500 member firms and more than 3,000 companies quoted across its markets. The London Stock Exchange itself is the world's most international exchange with around 600 overseas companies from almost 70 countries. These figures include international companies quoted on the Alternative Investment Market (AIM), the world's most successful market for SMEs, with over 1,200 companies in total. LSEG also offers a range of corporate and government fixed income services through MTS, the Order Book for Retail Bonds (ORB) and Mercato Telematico delle Obbligazioni (MOT). It also offers trading in Italian derivatives through IDEM, and Russian and Scandinavian derivatives through EDX London. LSEG also offers post-trade services such as netting, clearing and settlement. These include services from Monte Titoli, and Cassa di Compensazione & Garanzia (CC&G). LSEG also includes MillenniumIT, a leading developer of high performance trading platforms and financial markets software. Turquoise, LSEG's Multilateral Trading Facility (MTF) provides pan-European and US lit and dark equity trading in some 2,000 securities across 19 countries. About NSE National Stock Exchange (NSE), established in the mid 1990s as a demutualised electronic exchange by leading Indian financial institutions, offers trading, clearing and settlement services in a range of products covering equity, debt and equity derivatives. It is India's largest exchange and ranks third globally by number of trades in the equities market. NSE has played an important role in helping reform the Indian securities market and in bringing about transparency, efficiency and market integrity. NSE introduced trading in equity derivative products in 2000-01. In this short span of time, NSE has become the largest exchange in single stock futures and ranks fourth in index futures globally. Its flagship index, the NIFTY 50, is used extensively by investors in India and around the world to take exposure to the Indian equities market. For more information, visit http://www.nseindia.com About the FTSE 100 The FTSE 100 index comprises the 100 most highly capitalised blue chip companies incorporated in the UK, representing approximately 81% of the UK public market's capitalisation. It is used extensively as a basis for investment products, such as derivatives and exchange-traded funds. There are currently two India-based companies in the FTSE 100: Vedanta Resources and Essar Energy About S&P CNX Nifty (Nifty 50) S&P CNX Nifty is a 50 stock, float-adjusted market-capitalization weighted index, accounting for 22 diversified sectors of the economy. The Index tracks the behavior of a portfolio of blue chip companies, the largest and most liquid Indian securities. The index captures approximately 63% (as of June 30, 2010) of its float-adjusted market capitalization of the companies listed at National Stock Exchange (NSE) and is a true reflection of the Indian stock market. The total traded value for the last six months (as of June 2010) of all Nifty 50 stocks is approximately 48% of the traded value of all stocks on the NSE. http://www.ukibc.com/news_and_media/articles/nselse.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/nselse.aspx India's Minister of Commerce and Industry, Anand Sharma, met with Prime Minister David Cameron at Number 10 Downing Street today while visiting for talks with Secretary of State Vince Cable and Universities and Science Minister David Willetts. The bilateral talks covered trade, investment, education, science and research. Secretary of State Vince Cable said: "The coalition Government is committed to an enhanced partnership with India. I am delighted to welcome Mr Sharma and to open a very positive dialogue on a range of important issues with the Indian government." "Bilateral trade is worth over £11bn a year, and India is already the second biggest foreign investor to the UK by number of projects. We must build on that. Freeing up trade is vital. We will push for a successful outcome to the Doha trade talks and bringing the EU-India free trade talks to a swift and positive conclusion." The Business Secretary also greeted a delegation of top Indian business leaders from the Confederation of Indian Industry (CII) who are accompanying Mr Sharma on his visit. The delegates included: Mr Hari S Bhartia, President of CII and Managing Director of Jubilant Organosys Limited, Mr B Muthuraman, the Vice Chairman of Tata Steel and Vice President of CII, and Mr Vikram Mehta, Chairman of Shell India. Key facts on UK-India trade: •UK-India trade is £11.5 billion. The UK is the top European investor in India and India is the top Asian investor in UK by number of projects. •In 2008/9, the UK attracted 108 project investments from India, generating 4139 new jobs. •There are more than 700 Indian companies with investments in the UK; about two thirds are in the ICT/software sector. The stock of Foreign Direct Investment from India at the end of 2008 was £3.5bn. Photos Please visit the Number 10 Flickr site www.flickr.com/photos/number10gov. Photos will be available shortly. Media contact For more information, please contact Katherine Riviere in UKTI Press Office on 0207 215 8473. Notes to editor UK Trade & Investment (UKTI) is the government department that helps UK-based companies succeed in the global economy. We also help overseas companies bring their high quality investment to the UK's economy - acknowledged as Europe's best place from which to succeed in global business. UKTI offers expertise and contacts through its extensive network of specialists in the UK, and in British embassies and other diplomatic offices around the world. We provide companies with the tools they require to be competitive on the world stage. For more information on UKTI, visit www.ukti.gov.uk or telephone +44 (0)207215 8000. For latest press releases, visit the online newsroom at www.ukti.gov.uk/media. You can also keep in touch with developments at UKTI through www.blog.ukti.gov.uk, www.twitter.com/ukti and www.flickr.com/photos/tags/ukti. http://www.ukibc.com/news_and_media/articles/pmsharma01.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/pmsharma01.aspx UK Trade & Investment Prime Minister David Cameron and Business Secretary Dr. Vince Cable have welcomed an agreement signed today between BAE Systems, Rolls-Royce and India's leading aerospace company, Hindustan Aeronautics Limited (HAL), to supply 57 Hawk trainer aircraft to India. The deal is worth around £700 million, of which over £500 million is for BAE Systems and up to £200 million for Rolls-Royce. It will support over 200 jobs in the UK. It was announced at the HAL complex in Bangalore, southern India. Read more DISCLAIMER: The above items are not UKIBC press releases but UK India related business information collected from various sources http://www.ukibc.com/news_and_media/articles/prime_minister_and_business_secretary_welcome_700.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/prime_minister_and_business_secretary_welcome_700.aspx Sheffield Forgemasters is set to sign a historic agreement worth £30m today with an Indian state-run power equipment firm. India's minister for heavy industries, Vilasrao Deshmukh, and delegates from his government and Bharat Heavy Electricals, will visit the company to launch the trade agreement. Under the 10-year deal, Forgemasters will sell tech-nology and specialist engin-eering knowledge to Bharat. The venture, which helps to protect future Forgemasters' markets in the subcontinent, will serve India's rapidly growing domestic market for turbine and power generation products. http://www.ukibc.com/news_and_media/articles/sheffield_india.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/sheffield_india.aspx Become a UKIBC member before 31st July 2010 & get a free place in our India-bound business delegation* Plus a chance to win a free return ticket to India!Seeking to expand into India, one of world's fastest growing economies? We can help.For details and joining, email: offers@ukibc.com Are you looking to do business in India? If yes, look no further. JOIN US! The UK India Business Council is the premier membership led organisation promoting business between the UK and India. Through our extensive network of influential members and partners, the UKIBC provides the resource, knowledge and infrastructure vital for UK companies to succeed in India. Becoming a UKIBC member puts you at the heart of an exclusive club of prestige organisations and business leaders. As a UKIBC member your business can: • Connect to our outstanding network • Discuss trade and policy issues with decision shapers and makers • Benefit from free access to UKIBC events* and networking opportunities • Benefit from speaking opportunities at events • Be profiled on the UKIBC website • Receive advice from our teams in the UK and India • Access research, publications, events, seminars and trade delegations • Enjoy a 50% discount on Next Generation Memberships To join and take advantage of our SUMMER offer To get a special application form, email offers@ukibc.com before 31st July 2010. For further information about UKIBC membership please click go to www.ukibc.com Terms & Conditions: * We offer one place in one of our delegations in 2010/11, usually £ 250 pounds, for free, but you will have to arrange for your flights and accommodation. http://www.ukibc.com/news_and_media/articles/summer_offer.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/summer_offer.aspx Architects, Engineers and Planners to discuss opportunities for building sustainable cities Indian economy is growing rapidly and Indian cities such as Mumbai, Calcutta, New Delhi, and Bangalore are magnets for businesses and workers. This is putting real pressure on urban infrastructure and natural resources. The Indian authorities are alert to the issue and seek solutions to address the challenge. The UK is a world leader in built environment sector and is keen to help build green cities in India. To highlight the opportunities in Indian infrastructure, leading architects, master planners, engineers, and experts from water management and construction companies will gather in London on July 13 th to participate in UK India Business Council's 'The UK India Sustainable City Opportunity' event. The event is being held in partnership with the Institute of Engineers and the British Water. "Urban Development sector in India requires an investment of US$ 175 billion. A major part of it is for urban transport, water and sanitation. Urban development in Indian cities has often been somewhat haphazard, with little planning of how to make the best use of scarce resources. Sustainability is a growing issue in India and gradually Indian clients are asking British companies to incorporate intelligent energy solutions and the latest green technology into designs. UK companies are doing a good job in India. However, more needs to be done," said UK India Business Council COO Kevin McCole. "To raise awareness about the opportunities in building green cities in India, the UKIBC is hosting a series of events across the UK with a focus on master planning, managing resources efficiently and building energy efficient buildings. It is also taking an infrastructure delegation to Coimbatore and Chennai, India in October 2010," he added. Benoy from the UK has already established a presence in India in sustainable buildings. As the architect responsible for Birmingham's iconic Bullring and Brindley Place - two schemes that have created economically and socially vibrant destinations for the UK's second city. "India is a vibrant emerging market and I would urge creative and construction industries to pursue the opportunities presented by India. Benoy passionately believes that sustainable solutions can be economically viable, aesthetically pleasing and socially equitable," said Graham Cartledge CBE, Chairman, Benoy At the event, Alan Travers, Buro Happold, will share his expertise in Water Resource Management, Romi Dahal will share intelligence on zero carbon buildings and Elad Eisenstein, Arup, will throw light on master planning. Eisenstein said, "We have to be sensitive to the local culture, climate, geography, heritage and community in India, before going ahead with master planning. " NOTE TO EDITORS To attend the event or more information, please email ishara.callan@ukibc.com About UKIBC The UK India Business Council (UKIBC) is the premier membership-led organisation supporting the UK Government in the promotion of trade, business and investment between the two countries. About the event For details please click here. About IET The IET is one of the world's leading professional societies for the engineering and technology community, with more than 150,000 members in 127 countries and offices in Europe, North America and Asia-Pacific. The IET provides a global knowledge network to facilitate the exchange of ideas and promote the positive role of science, engineering and technology in the world. About British Water British Water is the trade association for the water industry supply chain, representing the industry collectively to government, regulators, other institutions, customers and the media. Recognised as the voice for the industry, British Water is able to ensure that the message gets through where the representations of a single, commercial enterprise would invariably fail to register. http://www.ukibc.com/news_and_media/articles/sustainable_opportunities_london.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/sustainable_opportunities_london.aspx Tata Motors plans to raise about 47 billion rupees ($1.02 billion) through a combination of shares, bonds, debentures and other equity-linked instruments to cut debt and grow its business. To read more, click here (reuters) http://www.ukibc.com/news_and_media/articles/tata_motors.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/tata_motors.aspx Multinational Tata Motors is planning to introduce new fuel efficient cars and hybrid vehicles in emerging markets and looking at ways to raise sales of luxury brands Jaguar and Land Rover in China and India. Read more... http://www.ukibc.com/news_and_media/articles/tata_motors_to_launch_new_vehicles_in_india_china.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/tata_motors_to_launch_new_vehicles_in_india_china.aspx How the Indian & Western CEO differs There was a time when the competitive advantage that Japan had built in key industries like automobiles and electronics led to a world-wide scramble to understand the Japanese way of doing things. To read more, click here http://www.ukibc.com/news_and_media/articles/the_india_way.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/the_india_way.aspx The UK India Business Council (UKIBC) has appointed Richard Heald, Vice Chairman, N M Rothschild & Sons (India), as its new Chief Executive. UKIBC Chair, Rt Hon Patricia Hewitt, who is a member of the delegation accompanying Prime Minister David Cameron in India this week, said: "We received a large number of excellent applications for the post of chief executive. But Richard was the unanimous choice of the UKIBC Board and I am delighted that he has accepted this appointment. "Richard's deep knowledge and love of India, combined with his extensive business experience, make him the right person to lead UKIBC at this exciting time in UK - India relations. 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. " Heald has worked for Rothschild for 17 years and has been travelling to India for the last 20 years. He has extensive experience of investment between UK and India, marketing opportunities in India for UK businesses, including SMEs, and UK opportunities for Indian companies. Specifically, he has been involved in major transactions for companies as diverse as the Tata Group, Cairn PLC, Bharti Enterprises, Mahindra & Mahindra, PTC India and the Hero Group. Richard Heald said: "The Indian economy is expected to double within the next 10 years. UK - India trade flows should aim to at least increase by the same amount over the same period. This will only be achieved if based on a strong appreciation of the operating environment and on mutual commercial advantage. 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". The role of the UKIBC, working closely with UKTI, is to be involved in the execution of this policy and to assist its members - both in the UK and in India - to turn this into reality. I am delighted to be involved in this effort." Lord Bilimoria, President, UKIBC, also in India with the Prime Minister, said, "The UKIBC has achieved so much since it was founded three years ago and I am 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." Welcoming the appointment, Sir Andrew Cahn, Chief Executive, UKTI said, "I welcome the appointment of Richard Heald as CEO of the UKIBC. As the PM's visit this week has shown, reshaping and rejuvenating the UK's business relationship with India is a key priority for the new coalition government and the UKIBC has an important role to play in this." UKIBC is the leading membership organisation promoting UK - India trade and connecting businesses, entrepreneurs and professionals between the two countries. It works very closely with the government's trade promotion arm, UKTI. The UKIBC has over 125 members, including MNCs, trade associations and SMEs from across all sectors. SMEs make up the vast majority of members. Ends For more information, please contact Press Office on 02076923045 or email Ishara.Callan@ukibc.com NOTES TO EDITOR Richard is a Managing Director of Rothschild, London, and Vice Chairman of Rothschild India. Richard has been travelling to Asia (including India) for 20 years but has been increasingly focusing on India since 2000. He currently spends some 50 pct of his time in India where he has been closely involved in building up Rothschild franchise in India. During this period he has developed an in depth knowledge of the Indian business and operating environment as well as extensive relevant Indian sector knowledge. He has developed extensive contacts amongst the Indian business community, the London and India based PE community. He has been active with the Indian Government, particularly in the area of disinvestment and continuous inter-action with High Commission and with UKTI in India. At the same time, he has marketed to UK corporates large and in the SME arena (NRI as well as UK owned) and has interacted with UK based legal, insurance and financial services companies. He has spoken at Conferences - in India and Europe - on economic/ business matters and is frequently quote in the Indian press on banking matters. Richard graduated from Oxford University with a degree in law. He is married with two daughters. About UKIBC The UK India Business Council (UKIBC) is the premier membership-led organisation supporting the UK Government in the promotion of trade, business and investment between the two countries. UK India Business o UK-India trade is £11.5 billion. The UK is the top European investor in India and India is the top Asian investor in UK by number of projects. o In 2008/9, the UK attracted 108 project investments from India, generating 4139 new jobs. o There are more than 700 Indian companies with investments in the UK; about two thirds are in the ICT/software sector. The stock of Foreign Direct Investment from India at the end of 2008 was £3.5bn. To see the full list of members, please go to www.ukibc.com http://www.ukibc.com/news_and_media/articles/ukibc_appoints_new_chief_executive.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/ukibc_appoints_new_chief_executive.aspx The UK as a business destination The UK remains at its core a trading nation. Investors from overseas are welcomed with a favourable regulatory environment and you will find setting up a company here relatively straight forward. There are also fiscal benefits - the UK has the lowest rates ofcorporation tax in the G7. During 2009, India leapt from being the seventh-largest source of inward investment to the UK to the second, ahead of France,Germany and Japan. This mirrors India's emergence asa global economic powerhouse as well as the shared language, culture and historic trading relationship between the two countries. India's economic development continues at pace in spite of the global economic downturn.There are currently around 600 Indian companieswith a base in the UK. Approximately two thirds ofthese operate in the ICT sector, closely followed by life sciences and advanced engineering. India's renowned creative and media sector finds a natural home in the UK, with a number of fiscal incentivesin place for those operating in this field. Indian investment in the UK is now worth around £9 billion.Indian projects created 4139 new jobs in the UK in 2008/9, reinforcing the position of Indian businesses in the very fabric of the UK economy, offering adynamic base to build successful businesses and aspringboard for further growth.The UK is the ideal platform for those companiesevaluating the US and EU markets. Indeed, the UKattracts around 50% of all Indian investment to the EU and the UK Government is determined to maintain its competitive advantage in this area.Stable and consistent policy making means that Indian companies and investors working from the UK have the ability to take a long-term view. The recentfinancial crisis has not diminished the status of the UKas a world-class centre for financial services.The UK has excellent facilities and infrastructure,an internationally renowned science and innovation network, high levels of capital flows and investment,powerful support structure and world-beating business acumen. In the financial year 2008/9 the UKwas once again the leading recipient of R&D inwardinvestment in Europe, with a high level of investment despite the challenging economic environment. http://www.ukibc.com/news_and_media/articles/uk_as_bus_dest.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/uk_as_bus_dest.aspx Department for Business, Innovation and Skills (National) Secretary of State for Business and President of the Board of Trade, Vince Cable and Minister of State for Universities and Science, David Willetts today arrived in Bangalore, India as part of a Government delegation promoting trade and business links between the UK and India. During the two day visit the two Ministers will travel across the country to highlight the potential economic benefits for both countries of stronger business ties. It is hoped that a series of agreements and formal partnerships will be concluded that could help to boost growth for both nations. Read more... DISCLAIMER: The above items are not UKIBC press releases but UK India related business information collected from various sources http://www.ukibc.com/news_and_media/articles/visit_aims_to_boost_economic_relationship_with_ind.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/visit_aims_to_boost_economic_relationship_with_ind.aspx India Today It's the youth workforce that is driving India's economy. A quarter of the chief earners in Indian households fall in the age group of 26-35 years, said a new study by the Centre for Macro Consumer Research (CMCR), an arm of the National Council of Applied Economic Research's (NCAER). The report titled 'How India Earns Spends and Saves', said the chief earners in about 140 million households out of a total of about 205 million households are under the age of 45 years. This population accounts for about 60.9 per cent of the total income in the country. Read more... DISCLAIMER: The above items are not UKIBC press releases but UK India related business information collected from various sources. http://www.ukibc.com/news_and_media/articles/youths_make_indias_earners.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/youths_make_indias_earners.aspx Architects, Contractors, Engineers to discuss opportunities for building sustainable cities India's economy is going to grow between 9 to 9.5 per cent by 2013 to 2015, predicted JP Morgan this week. There are big opportunities in a range of sectors from infrastructure to retail. India's construction market is the world's ninth largest, just above the UK, and has the second highest predicted growth over the next five years, at 9.6%. Urban Development sector in India requires an investment of US$ 175 billion and Indians are keen to develop sustainable cities. These are opportunities that UK India Business Council and Scottish Development International urge Scottish companies to take advantage of. They are co-hosting an event on September 9th in Glasgow identifying sustainable opportunities in the infrastructure sector. "Sustainability is a growing issue in India. Indian clients are looking for intelligent energy solutions, they want to introduce the latest green technology into design and construction. UK companies are succeeding in India. However, more needs to be done," said UK India Business Council COO Kevin McCole. Alex McGuire, International Manager at SDI said,"Opportunities exist not just in construction and civil engineering, but also in areas such as architecture and design. This really is a land of opportunity, and Scottish companies should be asking what India means for them." Companies that are forward looking have already identified India as a market to enter, expand and grow, especially to ride out the downturn. Scottish architecture and building companies The Miller Partnership, RMJM, Ian Kerr Associates have taken advantage of the opportunities in India. Robert Kennedy, Partner with The Miller Partnership, said "The company was looking to expand its international reach and India seemed to tick all the boxes in terms of overall economic growth and growth in sports related developments". Ian Kerr Associates (IKA+),a Glasgow based International Architectural practice, is finding success in India as a result of it targeting niche opportunities in the high-street retail sector along with commercial and residential projects. "India offered IKA+ a relatively low-risk internationalisation route as there was undoubted growth" said Ian Kerr, " the market also presented great opportunities to leverage existing contacts within major international high-street retailers." Anubhav Gupta, Director, Strategy and Planning, RMJM, said, "Through our award winning work, RMJM is proactively paving new directions in comprehensive sustainability across sectors in India. We have designed airports, townships, special economic zones, residential projects, education facilities, hotels, office parks and mixed use developments in tier 1, 2 and 3 cities in India." To encourage more companies from Scotland to understand and explore the Indian market, especially in sustainable buildings, the UKIBC along with SDI is hosting The UK India Sustainable City Opportunity event on 9th September 2010. The event is being held in partnership with the Institute of Engineers and the British Water. Ends For more information, please contact Press Office on 02076923045 or email Ishara.Callan@ukibc.com NOTES TO EDITOR About UKIBC The UK India Business Council (UKIBC) is the premier membership-led organisation supporting the UK Government in the promotion of trade, business and investment between the two countries. To see the full programme and agenda, please go to www.ukibc.com About SDI Our aim is to assist in the growth of the Scottish economy, by encouraging inward investment and helping Scottish-based companies develop international trade. We can help your company or project benefit from the business and research opportunities available in Scotland and provide you with information on the wide range of business grant schemes available in Scotland. To date, around 1,500 leading global companies, including Amazon, 02, Dell, and Wyeth, have invested in Scotland. Scottish Development International has doubled its presence in the country in the past 18 months, adding an office in Mumbai to the one it established in Delhi in 2001. http://www.ukibc.com/news_and_media/articles/glasgow.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/glasgow.aspx ClinTec International, a global Clinical Research Organisation ("CRO") announces a financial and strategic partnership with Elephant Capital Plc., an AIM market listed private equity firm. With an investment of £8 Million GBP, Elephant has acquired a significant minority stake in ClinTec. Through this investment, Elephant has entered the attractive clinical research base, where ClinTec operates as a global provider of outsourcing solutions addressing the drug development lifecycle. Managing Partner of Elephant Capital LLP, Gaurav Burman, and Non-Executive Director of Elephant Capital Plc, Jim Hauslein, have also made personal co-investments in this transaction. http://www.ukibc.com/news_and_media/articles/clintech.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/clintech.aspxWrapping up his two day inspection of the Commonwealth Games sites around Delhi, the President of the Commonwealth Games Federation, Mike Fennell seemed satisfied with the preparations. Read more... DISCLAIMER: The above items are not UKIBC press releases but UK India related business information collected from various sources http://www.ukibc.com/news_and_media/articles/cwgames.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/cwgames.aspx The UK India Business Council (UKIBC) is taking a delegation to India to help UK construction, architecture and equipment companies win new business The Government of India is projected to invest over USD 1 trillion in infrastructure over the next 10 years. This presents huge opportunities for UK companies in the infrastructure sector. Recognizing this opportunity, British companies like BDP, Mott McDonald, Arup have made inroads in India hoping to avoid a dip in orders, by expanding overseas. According to analyst Global Construction Perspectives, India's construction market is the world's ninth largest, just above the UK, and has the second highest predicted growth over the next five years, at 9.6%. "Expanding into the Indian market has helped UK architecture, buildings and construction equipment companies ride out the recession. UKIBC member companies like JCB, Benoy, BDP have succeeded in establishing a strong presence in India by securing new projects and expanding their businesses. Just last month Benoy picked up a series of contract wins in India, including a 195,000 sq m residential development in Bangalore," said UKIBC COO Kevin McCole. Mike Nithavrianakis, Deputy High Commissioner, Southern India, said, "Southern India offers various opportunities across a range of sectors in infrastructure. We welcome UK companies to come to India, meet Indian businesses, highlight their expertise, and win projects. " To help UK businesses promote their work and get business in India, UKIBC is taking an infrastructure sector delegation to southern India in October 2010. Companies will meet local urban development and state officials, Indian businesses and promote their work to relevant clients. "It will be an ideal opportunity for companies to join other UK infrastructure companies, leading architects, civil engineers, construction companies, utility companies and built environment sector specialists and go on site visits, meet local businesses and win projects. Companies will also participate in the Green Buildings Congress 2010 - a headlining event for the infrastructure industry - in Chennai," added McCole. In southern India, there are major opportunities in commercial and residential complexes, special economic zones, transport, high speed rail corridors, and major highway and ports projects. Benoy chairman Graham Cartledge, has said, there were "vast" amounts of work for UK firms in what is now a "dynamic, forward-thinking economy". Benoy is working on 40 projects in the country. He said, "India is a vibrant emerging market and I would urge Birmingham's creative and construction industries to pursue the opportunities presented by India and utilise the help and support offered by UK Trade & Investment and the event organisers, the UK India Business Council." ENDS For more information on UKIBC, please contact Ishara Bhasi Callan on +44 207 592 3045 or email ishara.callan@ukibc.com NOTES TO EDITOR About UKIBC The UK India Business Council (UKIBC) is the premier membership-led organisation supporting the UK Government in the promotion of trade, business and investment between the two countries. To read more about the delegation, please go to www.ukibc.com About Green buildings congress The Indian Green Building Council (IGBC) of CII -Sohrabji Godrej Green Business Centre is hosting the 8th "Green Building Congress 2010" between 7th - 9th October 2010 at Chennai Trade Centre, Chennai. Green Building Congress 2010 will feature a two-day International Conference, three-day exhibition focusing on showcasing Green Building technologies / Products / Services and one-day exclusive seminar focusing on Green materials. The objectives of the Green Building Congress are to: *Showcase Green Building Products / Technologies / Services *Network and Promote Business opportunities *Facilitate Market Transformation Over 2000 delegates from the construction industry are expected to attend this conference. http://www.ukibc.com/news_and_media/articles/infra.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/infra.aspxForeign institutional investors have turned gung-ho about investing in both debt and equity in India. FII inflows into India this calendar year to date have already exceeded inflows over the full calendar year 2009. What is more, net FII inflows into the debt market have grown over eight times from little over $1 billion in 2009 to $8.25 billion in the first seven months of this year. Analysts attribute this to hardening interest rates and to an increase in the ceiling on FII investments in debt. "Commercial Paper rates in India are attractive at 7.5 per cent and after deduction of cost of hedging, that is, 3.6 per cent (one year rupee dollar forward), FIIs would still make 3.9 per cent, far higher than the 1.1 per cent on the one-year US Dollar LIBOR (London Interbank Offered Rate)," said Mr K. Ramanathan, CIO-Single Manager Investments ING Investment Management. "The sudden surge in FII inflows is due to the prop books of foreign banks, emerging market bond funds and India-dedicated fixed income funds. With 10- year paper at 2.9 per cent in the US and 2.6-2.7 per cent in Germany, inflows into Indian debt market is relatively more attractive," Mr Arvind Chari, Senior Fund Manager - Fixed Income Quantum Mutual Fund, said. Read more... http://www.ukibc.com/news_and_media/articles/roads.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/roads.aspxThe UK India Business Council (UKIBC) and FICCI announced the winners of the 1st UK India Skills Forum awards winners at the FICCI Global Skills Summit on the 19th August 2010 . The Awards symbolise excellence in the area of skills development and were given away to recognise Indian companies for their commitment and achievement in the vocational training space. The winners were announced in the presence of the Sh. Mallikarjun Kharge , Hon Minister for Labour, Ms. Sudha Pillai , Member and Secretary Planning Commission, Mr. Rajan Mittal , President FICCI; Mr. Anurag Jain , Chairman FICCI Skills Forum and Sir Richard Stagg , High Commissioner of UK. The Awardees were felicitated by the Co-chairs of the UKISF Mr. R. C. M Reddy , Managing Director IL&FS clusters and Mr. Roy Newey , International Director, A4e Ltd and a UK India Business Council Director. The awards this year were given in 5 categories; Best Vocational Training Provider, Best Train The Trainer, Best Skills Project In Rural Community, Best UK Skills Provider Project, Outstanding Commitment To Quality. The winners of the awards were Centum Learning Ltd; Rustomjee Academy for Global Careers; India Can; Crux Management Services Pvt Ltd; Gram Tarang Employability and Training Services; Career Launcher; Dundee College and Pipal Tree The UKISF Awards are one of the first initiatives to strengthen the UK and India cooperation in the area of training and education. An initiative of the UKIBC, this is a first step towards realising Hon. Prime Minister David Cameron's vision for UK - India partnership. Ends NOTES TO EDITORS About the UK India Skills Forum (UKISF) The UKISF is led by the UK India Business Council in London and supported by UKTI in India. The forum is an eighteen month young forum that has seen significant collaboration between India and the UK in the area of vocational skills provision comprising of over 120 UK Skills provider organisations. In the last few months the UKISF has generated a number of bilateral contacts and has shown immense progress. One of the key strengths of the UK India Skills Forum is its ability to mobilize expertise from the whole of the UK, across the entirety of the technical and vocational education and training sector. It incorporates skills providers as well as assessment bodies, equipment suppliers, infrastructure developers and experts in a wide range of delivery models. In this way it can act as a "one stop shop" for Indian organizations seeking to address their particular training requirements. http://www.ukibc.com/news_and_media/articles/ukibc_ficci_ukisf_awards.aspxMon, 01 Jan 0001 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/ukibc_ficci_ukisf_awards.aspx