http://www.ukibc.com/news_and_media/index.aspx?rss=1News Feedwww.ukibc.com copyright 2012Policymakers in northeast India are finally creating a framework and inviting private investors in higher education, filling a glaring shortage that has in the past seen students in the region migrating to the rest of the country. Read more here Discuss here http://www.ukibc.com/news_and_media/news/120221_northeast_india.aspxTue, 21 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120221_northeast_india.aspxHSBC's India operations reported a profit before tax of $813 million for the year ended 2011 - 20 per cent higher than the $679 million in the previous year. The growth in profit was on account of the improved performance of the retail banking segment where losses declined substantially and strong growth in commercial banking, said Mr Stuart Davis, Chief Executive Officer, India, HSBC. Read more here Discuss here http://www.ukibc.com/news_and_media/news/120227_hsbc.aspxMon, 27 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120227_hsbc.aspx Gurgaon: The Government of Haryana plans to develop as many as 16 new micro, small and medium enterprises (MSME) industry clusters in Gurgaon, Faridabad, Rohtak and other industrial belts of the State, under the public-private partnership (PPP) model. Read the full article on Times of India website http://www.ukibc.com/news_and_media/news/110613-govtplanstosetup16msmeclusters.aspxMon, 13 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110613-govtplanstosetup16msmeclusters.aspx Dubai: India is the largest recipient country in terms of both global and GCC remittances, accounting for roughly 50 per cent of money transferred from the Gulf, an exchange company official has said. According to Sudhir Kumar Shetty, the Chief Operating Officer of the UAE Exchange Centre, the sum remitted during 2010 was estimated to be between USD 25-30 billion. Sudhir Kumar Shetty, the Chief Operating Officer of the UAE Exchange Centre, said money remitted by foreign workers in the UAE rose to USD 10.54 billion in 2010 from USD 9.51 billion in 2009, a clear indication that after a protracted downturn and a slump in job market during 2008 and 2009, the country's economy had returned to a recovery mode. Read the full article on Financial Express' website http://www.ukibc.com/news_and_media/news/110615-indialargestrecipientremittances.aspxWed, 15 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110615-indialargestrecipientremittances.aspx MUMBAI: India has announced plans for a prototype nuclear power plant that uses an innovative "safer" fuel. Officials are currently selecting a site for the reactor, which would be the first of its kind, using thorium for the bulk of its fuel instead of uranium - the fuel for conventional reactors. They plan to have the plant up and running by the end of the decade. The development of workable and large-scale thorium reactors has for decades been a dream for nuclear engineers, while for environmentalists it has become a major hope as an alternative to fossil fuels. Proponents say the fuel has considerable advantages over uranium. Thorium is more abundant and exploiting it does not involve release of large quantities of carbon dioxide, making it less dangerous for the climate than fossil fuels like coal and oil… ( Read more ) http://www.ukibc.com/news_and_media/news/071111_thorium_nuclearplant.aspxMon, 07 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/071111_thorium_nuclearplant.aspx BANGALORE: A survey on Internet usage has found that India's Internet users crossed 100 million in September 2011, a growth of 13 per cent against last year. At this rate of growth, the country is poised to touch 121 million users by December 2011… ( Read more ) http://www.ukibc.com/news_and_media/news/081111_internetusers_100m.aspxTue, 08 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/081111_internetusers_100m.aspx HYDERABAD: Multi-brand pre-owned car company Mahindra First Choice Wheels, part of the $12.5-billion Mahindra Group, is increasing its number of outlets to 180 from the current 140 this fiscal, betting big on growth in sales of used cars. The company, which opened its first multi-brand super store in Hyderabad, its second in South India after Chennai, has a chain of 10 such super stores across the country… ( Read more ) http://www.ukibc.com/news_and_media/news/101111_mahindra_newstores.aspxThu, 10 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/101111_mahindra_newstores.aspx AHMEDABAD: Multinational chain of diagnostic centres Metropolis Healthcare Ltd on Friday said it has acquired a brown-field laboratory in Mehsana, Gujarat, for an undisclosed amount, and is planning to add 10 green-field and eight brown-field laboratories within a year across India. The Mumbai-headquartered company, in which leading global private equity firm Warburg Pincus recently invested up to $85 million, has a chain of 62 laboratories across India, besides four in the UAE, two in South Africa and eight in Sri Lanka, in joint ventures… ( Read more ) http://www.ukibc.com/news_and_media/news/101111_metropolis_gujarat.aspxThu, 10 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/101111_metropolis_gujarat.aspxThe combined desk-based and mobile PC market in India totaled nearly 3.15 million units in the third quarter this year, a 13 percent increase over the same period last year, according to a study by Gartner. This growth was primarily driven by the mobile PC market, which grew 29 per cent year-on-year in the third quarter... ( Read more )http://www.ukibc.com/news_and_media/news/101111_mobilepc_market.aspxThu, 10 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/101111_mobilepc_market.aspxBangalore, Oct. 19: i2i Health, a subsidiary of i2india, plans to introduce low-cost medical technologies affordable in India. According to Mr Deepam Misra, CEO of i2india, "For Indian market, i2iHealth and Medical Acoustics (a medical devices developer) have formed a partnership to develop technologies affordable in Indian market. "The company is currently working on a number of innovative solutions in the area of pulmonary, TB diagnostics, cancer (screening for breast cancer)." Few products are in various stages of clinical trials and can give a big boost to healthcare in the country. The company has set its vision to introduce technologies at primary healthcare level at an affordable cost. As a step towards this, i2iHealth introduced its first commercial respiratory medical device - the Lung Flute developed by Medical Acoustics, for Indian market. The product recently underwent clinical tests. Explaining how the device functions, Mr Vincent Rajendran, director operations, i2iHealth, said: "The Lung Flute is a low-cost, non-invasive medical device that uses patented low-frequency acoustic wave technology to stimulate the body's natural mucus-clearing system." During the clinical studies, the device has demonstrated efficacy mobilising retained secretions and improving airway clearance in patients suffering from asthma, pneumonia and bronchiectasis," he added. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/i2i-health-to-introduce-low-cost.aspxWed, 19 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/i2i-health-to-introduce-low-cost.aspxBANGALORE: In India's growing gaming world, localisation is the new joystick. While 13-year-old Sriram loves Tinkle comics' popular characters Suppandi and Shikari Shambu, he would rather play with them online rather read the book - a clear pointer that local gaming is here to stay. The change is being fuelled by huge growth numbers - India's gaming industry is set to grow from Rs 4 billion in 2007 to a projected Rs 14 billion in 2011. "Games like NBA, FIFA and Rally that used to dominate the Indian gaming industry till about two years ago are being swept aside by India-flavoured games. From console to mobile phones, games that involve characters like Shikari Shambu, Kaaliya the crow, Yuvraj Singh and Kabbadi are an instant hit", said Priyanka Ganguly, a game tester with Tinkle Online. The change is across all gaming mediums: in July this year, Reliance Entertainment owned Jump Games had launched a mobile game based on the multi-starrer Hindi flick Zindagi Na Milegi Dobara. Console gaming major Sony PlayStation India, on the other hand, has teamed up with Amar Chitra Katha to launch Cart Kings -- a racing game where some of the age-old Tinkle characters would travel through some of popular tourist spots in India. More than a year back, Zynga, developer of the very-popular Farmville, Cityville and Mafia Wars, opened its first India office in Bangalore. The recent report on India's entertainment industry, jointly authored by corporate lobby FICCI and consultancy major KPMG, says the growth of the Indian console gaming market (at Rs 4.9 billion in 2010) is happening mainly on the back of localised content. "Over the next two years, the console gaming industry would have an overwhelming number of games based on localised content," says Atindriya Bose, country manager for Sony PlayStation India. Read the full article on Times of India website http://www.ukibc.com/news_and_media/news/110826-indian-gaming.aspxFri, 26 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110826-indian-gaming.aspxNEW DELHI: India will be adding about 3,500 MW of renewable power during the current fiscal. which would entail a capital investment of about 29,000 crore, Renewable Energy Minister Farooq Abdullah said on Thursday. "It is envisaged that a power generation capacity of around 3400 MW (grid-interactive) and 130 MW (off-grid / captive) from various renewable energy sources, mainly wind, solar, biomass and small hydro, will be added in the country during the current financial year 2011-12", Abdullah added in the Parliamentary question hour. While half of the capital investment would be towards wind energy, investments in solar power are expected to be about Rs 9,000 crore. Other renewable sources like small hydro power and bio-power would have investments of about Rs 3,000 crore and Rs 2,500 respectively. Additional investment of about Rs. 1,000 cr. is envisaged in deployment of decentralized renewable energy systems/ devices like biogas plants, solar water heating systems and SPV lighting systems in remote villages/ hamlets. Read the full article on Economic Times website http://www.ukibc.com/news_and_media/news/110830-india-add-3500mw.aspxTue, 30 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110830-india-add-3500mw.aspxLONDON/NEW DELHI: British oil major BP has completed the acquisition of 30 per cent stake in 21 oil and gas production sharing contracts operated by Reliance Industries Ltd. Despite the fact that stake sale in two more blocks is still awaiting government approval, the valuation will not be adjusted and will amount to $7.2 billion. This is because the value of the two blocks - on-land block AS-ONN-2000/1 in Assam and NEC-DWN-2002/1 in the North-East Basin - in the agreement stands at around $2.2 million, a London-based spokesperson for BP confirmed on Tuesday, describing it as a 'very small' part of the contract. "They are the subject of ongoing discussions between the Indian Government and Reliance," said the spokesperson. The company did not say when the approval would be obtained. On July 22, the Cabinet Committee on Economic Affairs cleared the stake sale in the 21 blocks. For the remaining two blocks, the Directorate-General of Hydrocarbons and the contractor, Reliance Industries, hold divergent views on the exploration phase. BP paid an initial $2 billion when the contract was first agreed and paid a second cash instalment of $2.2 billion (subject to final adjustments) on Tuesday. The final cash instalment of $3 billion (also subject to final adjustments) will be made on October 3. "Future performance payments of up to $1.8 billion could also be made. This is the beginning of what we expect to be a long and successful working partnership with Reliance, building on the strengths of each company," said Mr Bob Dudley, BP Chief Executive. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110831bp-completes-deal.aspxWed, 31 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110831bp-completes-deal.aspxKERALA: Kochi will soon get an apparel design and training hub under the aegis of Apparel Export Promotion Council. The hub is being planned taking the potential of Kerala in apparel exports, said Darlie O. Koshy, the Director General of the Gurgaon-based Institute of Apparel Management and Apparel Training and Design Centre. He was speaking to The Hindu ahead of a lecture organised by Kerala Management Association on management of educational institutions here. The Export Promotion Council already has centres in Thiruvananthapuram, Kannur, Kozhikode and another one is expected soon in Alappuzha, said Dr. Koshy, who is an alumnus of the School of Management Studies, Cochin University of Science and Technology. In terms of its employment potential, impact on environment and income-generation, potential, apparel export was suited to Kerala, he said. With an investment of around Rs. 1 crore in machinery, export volumes can touch around Rs. 100 crore and the unit can directly employ around 40 people. However, it was imperative that the workers were given training in the latest machinery, he added pointing to the great enthusiasm he encountered, particularly among women who were part of the Kudumbasree programme in the State. Read the full article on The Hindu website http://www.ukibc.com/news_and_media/news/110902-apparel-design-hub.aspxFri, 02 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110902-apparel-design-hub.aspxNEW DELHI: A House Panel has asked the Government to spell out the foreign investment policy in the crucial pension sector in the PFRDA Bill 2011 itself and not outside the proposed legislation. The Standing Committee on Finance has also recommended that the foreign direct investment (FDI) in the pension sector may be capped at 26 per cent. The Standing Committee's recommendation on the FDI cap is in line with the Government stance that foreign investment in pension sector be capped at 26 per cent on par with the insurance sector. On the issue of spelling out foreign investment policy in the PFRDA Bill 2011, the Standing Committee has noted that the pension fund managers holding the stake of the old age income security of their clients cannot be compared with other agencies/companies/institutions in the financial sector and therefore the investment policy must be spelt out in the Bill itself. Currently, there is no provision in the Pension Fund Regulatory and Development Authority (PFRDA) Bill 2011 on the issue of policy for FDI in pension sector. This is because the Government is in favour of spelling out the foreign investment policy for pension sector intermediaries (including the pension funds and central recordkeeping agency) under the Foreign Exchange Management Act, 1999. The Government had told the Parliamentary Panel that spelling out the foreign investment policy in the pension sector under FEMA was in line with most of the recent legislations in the financial sector, where foreign investment is determined under FEMA. However, the Standing Committee is not in favour of such an approach for the pension sector. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110902-india-may-allow.aspxFri, 02 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110902-india-may-allow.aspx But skill shortage, corruption and quality of governance are concerns. Entrepreneur turned venture capitalist Sanjeev Aggarwal, of Helion Ventures, says the quality of entrepreneurship in India has improved in the past five years. While the market has grown bigger than ever before, more complete or seasoned teams are coming out to create companies. eWorld caught up with Aggarwal, the former CEO of Daksh eServices, a BPO firm that IBM acquired in 2004 to gain a foothold in the Indian BPO arena, to know about his role as a VC and get perspectives on the current market. What do the developments in the US and Europe mean for firms such as yours? India is, by and large, insulated from the fluctuations in the global economy. India will continue to get its allocation (of VC investments). I doubt the investors will find a better place than the emerging markets to invest in. The class of investors that we work with allocate 10 to 20 per cent to the emerging markets. The allocation to India is inching up. If the economy continues to grow at 7 to 8 per cent, this will further grow. However, there are concerns over inclusive growth, shortage of skills, and corruption, as well as quality of governance. Do you think the current global crisis will impact your fundraising initiatives? There will be some changes to asset allocation strategies of people who provide capital to people like us. But, the India allocation is unlikely to reduce. What is more important is how your investee portfolio companies are growing. That's the real data on ground. As long as your micro performance is strong, you should be in good shape. A lot of our investors are University Endowments, who take a viewpoint of 20-30 years. They are not worried about the impact of a particular event as many such events come and go. At every turn, they don't play around with their asset allocation strategies. We have not decided on how much to raise. In the past we raised $140 million and $200 million in two funds. It should be in that ball park. What are the issues that investors are concerned about? Corruption - given the scale - is making global headlines. A lot of investors are very impressionistic and a lot of decision-making is driven by anecdotes and news reports. Besides, about a third of population still lives below poverty levels. Every time our GDP grows above 8 to 9 per cent, the country faces skills deficit. But, on the positive side, there is a lot of headroom for growth. On balance, we still are a very good destination. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110905-vc-allocation.aspxMon, 05 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110905-vc-allocation.aspx HYDERABAD: The five-day World Congress of Pharmacy and Pharmaceutical Sciences-2011 and the 71st International Congress of International Pharmaceutical Federation began in Hyderabad today. The theme of the congress is Compromising Safety and Quality, A Risky Path. This is the first time in the Congress' 100-year history that India is hosting it. It is being held at Hyderabad International Convention Centre. About 3,000 delegates from over 120 countries are participating. The event will have deliberations on issues relating to drugs. There will be talks on key issues relating to quality of drugs and medicines and their repercussions on public health. The congress will have multiple panel discussions centred around the role of pharmacists in tackling the menace of counterfeit drugs, benchmarks to be set during production of medicines and regulatory reinforcements for building-in safety and quality. The event is being hosted by the Indian Pharmaceutical Association. The President, Ms Pratibha Patil, inaugurated the programme. At the congress, the World Health Organisation through its representative would present the initiatives taken by the global body to prevent irrational use of medicines and improve accessibility of essential drugs to the poorest of poor across the globe. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110906-india-hosts.aspxTue, 06 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110906-india-hosts.aspxNEW DELHI: The Prime Minister's Office (PMO) has asked the National Highways Authority of India (NHAI) to create a bank of ready-to-award projects of 10,000 km of national highways. It has told the NHAI to identify stretches and prepare detailed project reports (DPRs) for them by the year-end. This will be an additional obligation on the authority, which anyway has to meet its recently-revised annual target of awarding 8,000 km projects. This, according to the NHAI officials, seems to be a herculean task as the authority lacks both manpower and funds to do what the PMO wants. "We can outsource the DPRs for another 10,000 km, but we do not have enough people in the department to even follow that up with various agencies. Also, it would add an extra cost to our budget for this year," an NHAI official said on condition of anonymity. Manpower is a major issue that has been afflicting the organisation for a long time. Last year, NHAI had announced it will hire around 200 at various levels, including general managers (GMs), deputy GMs and executive directors. Read the full article on Financial Express website http://www.ukibc.com/news_and_media/news/110906-nhai-project-bank.aspxTue, 06 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110906-nhai-project-bank.aspxCHENNAI: State-run Neyveli Lignite Corporation (NLC) plans to invest Rs 40,200 crore to build power plants in Tamil Nadu, Rajasthan and Uttar Pradesh. The Navratna company has plans to install 7,500 Mw of power generation capacity, including a 4,000-Mw plant in Tamil Nadu and a 2000-Mw plant in Uttar Pradesh. The coastal Sirkali Thermal Power Project in Nagapattinam district of Tamil Nadu has already got in-principle approval from the company board. The project would be implemented in two phases of 2,000 Mw each, at an estimated cost of Rs 20,000 crore, using coal as the main fuel. NLC has approached the state government for administrative sanction to acquire lands. Preliminary project activities are in process. In Uttar Pradesh, the company plans to invest Rs 10,000 crore to set up the 2,000-Mw coal-based thermal power plant in Ghatampur tehsil of Kanpur Nagar district. For this, it has entered into a memorandum of understanding with the Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd (UPRVUNL) for setting up a joint venture. NLC and UPRVUNL would have equity participation in the ratio of 51:49. While in-principle approval for land and water had been received from the state government, preparation of feasibility report and environment impact assessment/environment management plan was under way, said NLC. The corporation plans to set up a thermal power project (2x500 Mw) at Neyveli in Tamil Nadu. The project will replace the corporation's 600-Mw TPS-I. The estimated cost of the project is Rs 5,907 crore. Read the full article on Business Standard website http://www.ukibc.com/news_and_media/news/110907-neyveli-invest.aspxWed, 07 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110907-neyveli-invest.aspxNEW DELHI: Reliance Industries and global oil major BP hope to significantly boost natural gas output from the country's largest gas field in the D-6 block in the next two to three years, and make handsome gains, as gas prices are due for revision in 2014, industry officials said. BP last week completed its $7.2-billion deal to acquire 30% stake in Reliance's 21 oil and gas blocks, including D-6 where natural gas output has fallen sharply as the reservoir turned out to be different from what the company had initially envisaged on the basis of surveys. Output was expected to ramp up the output to 80 million metric standard cubic meter per day (mmscmd) but it peaked at 60 mmscmd and fell below 50 mmscmd because of technical issues, sparking concerns among investors and analysts, and encouraging Reliance to bring BP as a partner to gain from the oil major's expertise in complex and deep-sea fields. "With the BP deal, RIL's gas production is expected to rise to targeted levels and even higher. But the nature of the industry is such that production does not rise overnight. It will take two or three years," a source close to the company said. He said apart from higher output, the company would also gain from revision in prices of natural gas in India. Read the full article on Economic Times website http://www.ukibc.com/news_and_media/news/110908-reliance-industries.aspxThu, 08 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110908-reliance-industries.aspxBANGALORE: India's Silicon Valley is gearing up to have a film city on the lines of Hollywood. The project is being built on the outskirts of Bangalore by Nandi Infrastructure Corridor Enterprise (NICE), which is also building a highway between Bangalore and Mysore. The Rs 1,000-crore film city will come up on a 300-acre plot close to the Sompura clover leaf junction on the expressway. It will have over 20 studios with facilities similar to Universal, MGM and Disney studios. The film city will target producers of TV shows and ad filmmakers from Telugu, Tamil, Kannada and Hindi. The promoters also expect to attract filmmakers from across the world looking to cut costs and make their presence felt in India. Read the full article on Economic Times website http://www.ukibc.com/news_and_media/news/110922-mega-film-city.aspxThu, 22 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110922-mega-film-city.aspx By Richard Heald A speech given at St. Georges House. I am standing before you with a certain degree of trepidation. Over 30 years ago I arrived late at my weekly tutorial in Brasenose College, in full rowing kit to be greeted with the refrain "the tide must have been going out"... It got worse while I was reading my poor offering for the week - on Administrative Law - my tutor got up and reached for a book from his book case and then followed my missive word for word with exaggerated but entirely justifiable distain. It is therefore with no little fear that I stand before a very distinguished and learned group of individuals to deliver some thoughts on Britains's place in the world of trade and industry today. In mitigation, I would say that these are considered observations of a "historian manqué" who has some 33 years of experience in dealing with international financial matters and who in his current role interacts with senior executives of UK and Indian businesses, large and small. At that same time I am happy to accept whatever comments, clarification and criticisms you may wish to make. I have interpreted my instructions as setting the exam question for your deliberations and as such have taken full liberty to express my own opinions, in the full expectation that I will be corrected, chastised and humbled this afternoon... but ultimately that I will learn. The Changing World So let us start. The world is changing around us... and I am not talking technologically. The geo-political and economic tectonic plates are moving. The 21st Century belongs to the BRICS -and predominately India and China but also Brazil, Indonesia, Vietnam. While this is a seismic change for us in the West, let us accept that this is merely a restitution of the status quo ante the Industrial Revolution which started in Britain in the 18th Century. In simple terms, 40% of global GDP pre 1750 was represented by the activities of those areas which now occupy China and India. The Economist this week has published figures predicting that in 2030 China (18.0%) will be the largest share of the world's GDP followed by the USA (10.1%) and India (6.3%). Goldman Sachs 2003 [ Global Economics Paper 134, BRIMCs ] report famously predicted that China would be the world's largest economy by 2050 and that India would be the 3rd largest. This evolution is already happening. Japan was overtaken by China in 2010. However the resulting impact will be more fundamental than even these headline numbers convey. The re-ordering of economic power by the year 2050 will be literally life changing for the vast majority of people on the planet and for the political, social and economic systems within which they inhabit. The UK is not immune to these forces. I suspect that successive UK governments have not truly popularised this fact or have, indeed, appreciated or planned for the impact thereof on our domestic economies. At the same time, I would argue that Britain - despite its relative decline in economic and trade terms over the past decades - is adjusting its position within that world and, moreover, despite evidence to the contrary, is increasingly positioned positively to benefit from the changes that are occurring around us. Some of this is due to historical reasons and some of it is due to the service nature of our economy and our consequent positioning within the global supply chain. No doubt this will be a matter of debate however I do find it encouraging that the BRIC reports project that the UK will become the largest economy in Europe by 2050 overtaking both France and Germany. Where we are now... There is always a tendency to knock our own economy but the UK remains a very significant player in world trade and a major beneficiary of investment flows. The economy of the UK is the 6th largest in the world measured by nominal GDP and 7th by PPP. In Europe, we are the 3rd largest by nominal GDP after Germany and France and 2nd after Germany by PPP. The UK is arguably one of the most globalised economies in the world. Indeed, the UK is an interface to the global market, being the second largest exporter and fourth largest exporter of commercial services and the tenth largest exporter and sixth largest importer of merchandise. The nature of our economy allows us to play an increasingly important part in the rapidly globalising world with a Service sector which dominates our economic activity at some 73% of GDP, a financial services sector centred in the City which is the leading financial centre in the world and a capital city in London which has the largest city GDP in Europe. The UK is at the heart of the global supply chain. We import, add value and then export. The UK trade in services account has been in surplus every year since 1996 and this surplus has increased since 1990. Meanwhile the UK trade in goods account has been in deficit since 1983. However, the UK sells a lower volume of goods at higher price in key markets than its competitors. Moreover the UK sells high quality component parts to other countries, where final assembly takes place (vz UK exports wings and engines of the Airbus A380 to France for final assembly). In a world where goods and products comprise elements and components which are sourced globally, the UK has established itself at the "upstream" end of that supply chain where the high value/ high margin opportunities exist. This favourable positioning is underpinned by a relatively benign operating environment. To quote some statistics:- • The UK is the best place to do business in the EU and the G8 (Doing Business 2011: World Bank) • 13 days to set up a business, versus OECD average of 15days (World Bank) • No 1 in Europe in the global digital economy index (Economic Intelligence Unit) All of this results in the UK capturing a very significant slice of Foreign Direct Investment (FDI) flows. How did we get here? In large part, our current positioning is the result of the neo-liberal policies introduced during the 1980s and sustained over the past 30 years in varying degrees. The UK's economic power in the nineteenth century was based on the first mover advantage that came with the implementation of the Industrial Revolution coupled with an increasingly extensive empire acting as a "captive" market for industrial and largely finished goods. Notwithstanding the rise of the United States, this period lasted certainly until the 1950s in which decade our annual rate of growth continued at some 2.9%. But it was during that period that a combination of increased competition from the United States, the increase in industrialisation in Europe (as well as the advent of the Common Market), rising power of UK organised labour unions and the break-up of Empire that our competitive position was eroded as our economic model became increasingly redundant. The dismantling of this model was painful in personal and economic terms compounded by two recessions in 1980s and in the early 1990s but the evolution of the economy into what we recognise today co-incided with the rapid growth of globalisation and the creation of extended supply chains which exploit individual strengths and cost structures across boundaries as a key foundation of the world in which we live. Serendipitously, our evolution into a broad service economy has co-incided at the precise time when the very technologies, skills and capabilities we have developed are in demand by the new developing economies and it is an opportunity which by and large we have grasped. The development of our Innovation _ be it in Advanced Manufacturing, Healthcare, Remote Learning, Supply Chain Logistics, Infrastructure, Financial and Professional Services and Digital and Creative Industries are in significant demand across the world. Examples • Warwick Engineering - Jaguar Land Rover • Nano car • Godrej fridge • IPod I am flying to India tonight as my organisation is leading a delegation of 59 UK based skills companies on a mission to India. Yesterday we signed an MoU with West Bengal so that the UK skills industry can scope and execute an upgrade in capabilities in the state across a range of competencies. At the same time, we are signing a contract with an Indian company to train some 71,000 trainers over 5 years who will in turn train some 11.5million people over the same period. But what are the challenges... As we all know we live in a world of considerable economic uncertainty. I for one fail to see how we can emerge out of the current crisis without some form of sovereign default and some form of recapitalisation of the banking system. I am concerned at the first signs of protectionism raising its head - in the form of a potential currency war. The UK is particularly vulnerable to such events. Arguably no capitalist country has benefitted as much from the on-going period of globalisation than the UK. Our interdependence on the current global ecosystem means that UK PLC more than any other country needs to ensure that barriers to trade and investment are kept down. Other countries may have greater volumes of exports but they are not as dependent on them. The US's economy is very internally focused, for instance. As such we are exposed to our more powerful colleagues whose motivations may be more domestically politically motivated. While the failure/slow pace of the Doha Round is disappointing the slack has been taken up by a series of bilateral trade agreements and these form statements of intent to keep trade routes open. The EU India FTA agreement is an important part of this positive story. We have to remain open and pragmatic in exploiting our intellectual property. ARM's philosophy of socialising its intellectual property so as to popularise its products is perhaps a way forward. While we should continue to encourage inward investment into our industries and research institutes, we should at the same time not resist exporting our innovation models into the developing world. In practice, I believe that with our embedded knowledge and structures, we will continue to occupy the innovative high ground in terms of product, manufacturing and margins. To do so we must remain open to long term capital inflows. A new model of car takes 5 years from conception to coming off the production line. Stability of investment within advanced engineering is a precious commodity and while we have a surplus of start-up and development capital, the financial pressures within the Stock Markets and the Venture Capital and Private Equity industries mean that, in the right circumstances, foreign capital should be welcomed. We are subject to domestic headwinds. Our favourable operating environment is fragile. Globalisation is a double edged sword. Between 2010 and 2011 the UK attracted investments from 54 countries. But the US$1 trillion of retained FDI in the UK can be deployed elsewhere. The Government must maintain its commitment to creating a favourable business friendly tax regime. The increasing Visa/ Border Agency issues with regard to business and overseas students are an increasing irritant for businessmen from overseas countries. Ultimately what are the opportunities? Despite these - and no doubt many more - potential issues, the medium and long term opportunities are very attractive. The developments which will occur over the next 40 years are too important to ignore. The UK is uniquely placed in the global supply chain and current policies are helping us to position ourselves to benefit from this trend. Let me conclude by quoting some statistics. The following are the Gross Domestic Product per capita (nominal) in 2010 compared to forecaste for 2050. 2010 2050 China 4,667 70,710 USA 14,435 38,514 India 1,346 37,668 UK 2,546 5,133 Thank you http://www.ukibc.com/news_and_media/news/110922-view-britains-place.aspxThu, 22 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110922-view-britains-place.aspx NEW DELHI: India Inc is upbeat about the economic growth prospects in the second half of current fiscal and majority of the companies surveyed said they plannned to increase their head count in the next two years, says Regus. The Regus global business confidence index for India rose by 11 points to 145 in the six months since April 2011… ( Read more ) http://www.ukibc.com/news_and_media/news/indiainc_hiring_121011.aspxWed, 12 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/indiainc_hiring_121011.aspx NEW DELHI: The Communications and IT Minister Mr Kapil Sibal, on Monday, announced a slew of initiatives for the telecom sector, including free roaming, unrestricted Net telephony and a new licensing regime for operators under a draft New Telecom Policy 2011. The policy gives specific emphasis to push broadband uptake and increase local manufacturing of telecom equipment… ( Read more ) http://www.ukibc.com/news_and_media/news/new_telecom_111011.aspxTue, 11 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/new_telecom_111011.aspx (Reuters) - India will unveil a much-awaited new telecoms policy on Monday,which is expected to include revised rules on grant and pricing of second-generation radio airwaves, in a bid to make the sector more transparent after it was hit by a massive scandal. The policy is also expected to relax norms for mergers and acquisitions... ( Read more ) http://www.ukibc.com/news_and_media/news/telecom_101011.aspxMon, 10 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/telecom_101011.aspx LONDON: The shift of economic power eastwards from crisis-hit developed nations has another milestone: the publisher of Wisden -the annual "bible" of English cricket enthusiasts - is licensing production of an edition tailor-made for the Indian market. A bit like Hermès, with its recent launch of a range of saris in India, Bloomsbury Publishing and its partner want to recast a western brand for enthusiastic Indian consumers… ( Read more ) http://www.ukibc.com/news_and_media/news/widen_cricket_111011.aspxTue, 11 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/widen_cricket_111011.aspx Market revives on short covering, budget hopes MUMBAI: Stock market indices ended a choppy session higher ahead of the Union Budget. Positive global markets also helped stocks hold on to gains. Traders were also seen covering shorts in frontline stocks after the sharp fall Tuesday, said dealers. Market began trade and recovered some losses of previous session and mirroring global markets. Concerns that the government may not be in a position to go for a populist budget because of economic constraints kept the market under check. However, there are expectations that the government may give thrust to infrastructure, education and power sector. Finance Minister Pranab Mukherjee may also announce measures on divestment policy. Marketmen are expecting the government to take some bold steps benefiting rate sensitive sectors. Land Rover to make inroads into India's defence deals Apart from its usual business proposition of selling high-end sports utility vehicles, which were launched in India on Sunday, UK automotive brand Land Rover is talking to the Indian government for supply of sophisticated and modern military vehicles to the armed forces. The company is developing a new model in its research and development centre in the United Kingdom, which will primarily address the defence needs of most countries around the globe, including India, said a senior executive from Land Rover. UK travel firm Cox & Kings plans Indian IPO Venerable 250-year-old British travel firm Cox & Kings is planning an IPO on the Bombay Stock Exchange in September, reflecting its desire to expand in the burgeoning Indian holiday market. Chairman Anthony Good told Reuters on Friday the company will issue shares equivalent to about 25 percent of the business, and expects to raise about $100 million, giving it a market valuation of about $400 million. StanChart Sees Indian Momentum LONDON -- U.K.-based, Asia-focused bank Standard Chartered PLC is seeing good business momentum in India despite rising loan impairments in that country, Chief Financial Officer Richard Meddings said Thursday."In India, the elections were very positive. We're seeing very good momentum in our India business, particularly in the wholesale banking business, although consumer is also performing well," Mr. Meddings said. MP wants short notice UK visas for Indian business visitors June 29 2009 by Ranjan Chakraborty Indian business visitors should be able to obtain UK visas at short notice, says Liberal Democrat MP, Lord Navnot Dholakia. Speaking during a debate on 'British Opportunity in India and Indian Investment in the United Kingdom', Dholakia said that bilateral trade between the two countries is currently being negatively impacted by UK visa policy. http://www.ukibc.com/news_and_media/news/02072009.aspxThu, 02 Jul 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/02072009.aspx StanChart, DBS, ANZ may line up for RBS' Indian assets 4 Feb 2009, 0102 hrs IST, George Smith Alexander, ET Bureau MUMBAI: International and regional banks are understood to be eyeing Royal Bank of Scotland's (RBS) Asian assets, with the Edinburgh-headquartered bank likely to come under intense pressure due to an anticipated $41-billion loss in 2008. Vodafone boosted by weak pound but struggling in mature markets The company reported record customer growth in India, where it added 6.3 million during the quarter to take its base over 60 million. The weakness of the pound has led Vodafone to raise its annual sales forecasts after reporting a 14.3% jump in revenues in the last three months of last year. Multi-million pound awards granted for UK-India collaborations London (PTI): The UK on Tuesday awarded six million poundsfor carrying out research work in various fields like food and water security and healthcare, to three major collaborations with Indian institutes. The cooperations, jointly funded by the Research Council, UK (RCUK) and the Department of Science and Technology, India (DST), are a part of the UK's 12 million-pound funding to forge links with universities in India, China and the US. Recession bites India Inc's M&A spree 3 Feb 2009, 0035 hrs IST, Sachin Dave, ET Bureau MUMBAI: India Inc's overseas acquisition juggernaut has run into stormy recession winds, and companies are struggling to keep their targets afloat. Only two years ago, there was no stopping domestic companies, particularly in automobile and pharmaceutical sectors, flush with cash and bursting with nationalistic pride, in their expedition. With the slowdown now in their face, most of them are struggling to save the acquired firms from going under or making losses. Big or small, the bug has bitten them all. Groups like the Tatas are facing trouble with acquisitions such as those of steel producer Corus, and car and SUV maker Jaguar-Land Rover (JLR). http://www.ukibc.com/news_and_media/news/04022009.aspxWed, 04 Feb 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/04022009.aspx UKIBC STATEMENT ON INDIAN BUDGET `09 We are pleased to note that the Finance Minister is keen to "lead growth back to 9%" and his acknowledgement that there was a need to give "further stimulus" despite "signs of revival in the domestic economy". However, the lack of any structural reforms is disappointing. To achieve this kind of growth rate on a sustained basis, India will need a lot more in the way of infrastructure spending, economic reforms and FDI. The good news is that the government spending is to rise almost 16% from last year. Most of this is expected to be devoted to extra spending on roads, irrigation and power as well as a 144% rise in spending on the rural employment guarantee scheme, an increased allocation of nearly INR40bn for urban housing and a promises to give credit at "reasonable rates" to small businesses. However, the long-anticipated decision to increase the Foreign Direct Investment (FDI) limit in the insurance sector from 49% was avoided. As we predicted, this was largely a populist budget mainly focussed on the poor with plenty of promises of additional infrastructure spending. Overall, it is perhaps not surprising that the equity, bond and foreign exchange markets all reacted badly to the budget statement. Reforms is a continuous process: Pranab Mukherjee Finance Minister Pranab Mukherjee explains his growth-oriented Budget. Indian stocks outperform London markets despite slowdown 08 July 2009 Indian companies listed on the London Stock Exchange are significantly outperforming both the FTSE 100 and AIM 100 markets, according to new research. Analysis by business and financial adviser Grant Thornton, shows that its own India Index has risen by 76% since the start of the year and 72% since the beginning of April. M&S business costs customers more in the UK than India Despite the fact that its Indian arm is doing the direct opposite, Marks and Spencer is passing on the cost of its business negotiations to its customers in the UK by raising prices. The chain plans a price-hike of 3% later this year. But thanks to a partnership with Reliance Retail, the firm's division in India is continuing to lower prices for customers. UK-based educational body expanding operations in India Edexcel, UK's largest body for primary and secondary education, plans to expand its operations in India in collaboration with various schools. IGCSEs (International General Certificate of Secondary Education) and GCEs (General Certificate Education) are school leaving certificates like 10th and 12th standard respectively in India, which could give additional advantage for the Indian students who prefer to pursue higher studies in UK, Edexcels Regional Director,South Asia, Samiulla Baig said. Standard Chartered India FY09 net up 12% Mumbai: Standard Chartered Bank's India operations on Tuesday reported a 12% growth in net profit at Rs1,907 crore for the fiscal ended 31 March, up from Rs1,706 crore for the previous year. Indian Stocks Tumble as June Exports Slide, Job Losses Mount India's benchmark stock index tumbled to the lowest level in one and a half months as commodities producers sank with metal prices and Trade Minister Anand Sharma said exports plunged 29 percent in June. UKIBC President Lord Bilimoria on CNBC Europe (Mon. Jul. 6 2009 | 09 18 00 ET ) The Indian stock market slid Monday as the government unveiled a new budget that many fear will widen the country's fiscal deficit. Lord Karan Bilimoria, president of UKIBC, has more. http://www.cnbc.com/id/15840232?video=1173226382&play=1 In conversation with Jim O'Neill In the week when BRIC leaders met in Yetkaterinburg, the UKIBC and Goldman Sachs brought together an audience of business leaders to hear from Jim O Neill his views on the BRIC countries and in particular on India. http://www.ukibc.com/news_and_media/news/08072009.aspxWed, 08 Jul 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/08072009.aspx 10th March: Cambridge centre for Indian business The University of Cambridge's Judge Business School has opened its new Centre for India & Global Business by launching its website and an inaugural lecture in New Delhi on Tuesday. 9th March: Business delegation to Punjab To explore trade potential between Punjab and East Midland (UK), a high-level delegation visited Punjab from February 28 to March 7 in association with the Confederation of Indian Industry (CII) and the Punjab Link Council, UK. 9th March: Goldman Sachs criticism of Indian corporate governance The Indian government rejected criticism by Goldman Sachs Group Inc . analysts that it failed to consult minority shareholders on $20 billion of subsidies for refiners taken from Oil & Natural Gas Corp . 9th March: India the bright spot in global MNC gloom Indian subsidiaries, relatively minor cogs in the wheels of large multinational companies until 2007, have emerged as crucial profit generators, as earnings in developed western markets tumble amid the worst economic downturn in a generation. 6th March: Zenzar deal to enter UK market Shares of Zensar Technologies rose as much as 10 percent after it had signed a multi-million dollar deal for 3 years with a UK firm. 6th March: Aviva entry into the Indian market The UK's largest insurer Aviva has reaffirmed commitments to invest more in India, despite reporting a £915-million post-tax loss for 2008. 6th March: RBS exiting its Indian operations RBS to sell its Indian operations for US$700m, in the first phase of its retrenchment programme. 5th March: Indian business model to shape global environment Praising the Indian business model, British High Commissioner to India Richard Stagg has said it could help shape the world business . http://www.ukibc.com/news_and_media/news/11032009.aspxWed, 11 Mar 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/11032009.aspxNEW DELHI: India will emerge as the second largest steel producer by 2013 with an installed capacity of 120 million tonnes, said the Steel Minister, Mr Beni Prasad Verma, on Tuesday. At present, India is the fourth largest steel producer with a capacity of 80 million tonnes, while China tops the list. "By 2013, India will be the second largest steel producer in the world, riding on the high levels of growth, construction, housing, real estate, automobiles and agriculture," Mr Verma told the 5 {+t} {+h} India Steel Summit. The steel demand in the country is growing at an average of 10 per cent, which may exceed even 12 per cent in the near future. In order to meet the domestic demand, steel production capacity must increase at an average of 10-15 per cent, Mr Verma said. Various government social schemes such as NREGA and Indira Awas Yojana are expected to bring about development resulting in increased steel consumption, Mr Verma said. The Steel Secretary, Mr P.K. Misra, said capacity addition should be fast tracked to make the country self reliant in meeting future demand. The greenfield projects in the pipeline have not taken off as per expectations due to issues relating to land acquisition and resource allocation. Land acquisition has of late become the most contentious and challenging issue. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110727-india-will-be-2nd.aspxWed, 27 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110727-india-will-be-2nd.aspxMUMBAI: India will soon join an elite group of countries where starting a business will take less than a day. The Ministry of Corporate Affairs (MCA) has simplified the procedures for incorporation to enable promoters to get their companies incorporated within 24 hours. The new procedure to issue online certificate of incorporation will be implemented from August 11. Earlier, officials at the Registrar of Companies used to go through the available list of names and approve all documents manually. Incorporation took anywhere between four days to two weeks, depending upon individual issues. Under the new procedure, the promoters need to get the application and other relevant documents certified by a practising professional and the applications will be processed electronically. "In case the e-forms 1, 18, 32 and e-form for Memorandum of Association and Articles of Association have been certified by the practising professional regarding the correctness of the information and declarations given by the subscribers, the application shall be processed electronically and the digital certificate of incorporation shall be issued online immediately by the Registrar of Companies," the ministry said in a circular dated July 23. Starting business is the first of the 10 sub-indices that form the Ease of Doing Business Index of the World Bank. India has consistently been placed at around 130 among the 183 countries ranked. Pawan K Vijay, CEO, Corporate Professionals Pvt Ltd, said the move would go a long way in improving India's rankings in ease of doing business globally. "It is very positive. Earlier, it used to take 8-10 days. Getting it down to 24 hours will be a big boost." Read the full article on Business Standard website http://www.ukibc.com/news_and_media/news/110728-starting-a-business.aspxThu, 28 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110728-starting-a-business.aspxNEW DELHI: The monsoon session of parliament reopens on August 1st. It is poised to tackle thorny, though pivotal economic reforms. Some of the major Bills are: The Companies (Amendment) Bill 2011, The Land Acquisition, Rehabilitation & Resettlement Bill, The Amendment Bill to anti-Money Laundering Law and The controversial Lokpal Bill. No timeline has been yet given for the Insurance Amendment Bill, 2009, still with Standing Committee. Bill to amend law for land acquisition for petro pipelines Anti-Money Laundering law. The Company Secy's Bill 2010, CA's Bill 2010, Cost & Works Accountants Bill 2009, SBI (subsidiary bank laws) Amendment bill, 2009 will be taken up for nod in the session. The other bills to be introduced in the monsoon session are the Warehouding Corp (amendment- bill, 2011), Mines & Minerals (devlp & reg) bill 2011. Meanwhile the PFRDA Bill and the GST bill which are still at standing committee will not come up in this session. The session which ends on 8th September will see the introduction of 32 New Bills over a one-month long period taking the total Bills to debated to 35. Read the full article on MoneyControl.com website http://www.ukibc.com/news_and_media/news/110801-32-new-bills.aspxMon, 01 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110801-32-new-bills.aspxNEW DELHI: Finance Minister Pranab Mukherjee said that the meeting with India Inc was fruitful though there was some cynicism on the policy movement. He said that though the current growth is not as bright as they would want it to be, the fundamentals of the economy remain strong and growth drivers in the medium-term remain intact. Pranab Mukherjee said that he received many suggestions from India Inc and that the industry will overcome problems to achieve high growth. Anand Mahindra said that it was one of the most productive meetings he has ever attended and that the 'policy paralysis' issue was addressed. FM and India Inc discussed the high interest rate regime and that the FM was looking to unleash the second wave of reforms. YC Deveshwar said that it was an excellent meeting and the mood was very positive and that the government reassured about its commitment to growth. Read the full article on MoneyControl.com website http://www.ukibc.com/news_and_media/news/110802-fm-india-inc.aspxTue, 02 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110802-fm-india-inc.aspxNEW DELHI: Draft policy gives more emphasis on service and commerce sectors Considering the potential of micro, small, and medium enterprises (MSMEs) in generating employment and bolstering the State's economy by acquiring exports through quality production techniques and products, the State government has offered a lot of sops for nurturing such units. According to the draft Industrial and Commercial Policy, 2011, the government has offered protection for new MSMEs from power tariff hikes for three years from commencement of commercial production. A new scheme has been mooted for providing equity assistance to the new units instead of the State investment subsidy and the margin money loan scheme. Exemption has been announced for payment of earnest money deposit and security deposit and offered to give price preference to such units for five years. Schemes have been envisaged for rehabilitation and revival of such units. It has been proposed to review and revise the negative list of MSMEs too. Taking into consideration the increasing pressure on land resources, the government policy is to encourage non-polluting, eco-friendly, and employment-oriented major industrial units which have the potential to pay wages on a par with the living standards of the State. It has been proposed to relocate polluting industries to remote areas, quite far away from the city and municipal limits. Read the full article on The Hindu website http://www.ukibc.com/news_and_media/news/110802-industrial-policy.aspxTue, 02 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110802-industrial-policy.aspxNEW DELHI: Charting the boldest reform ever, the Economic Advisory Council to the Prime Minister (PMEAC) has suggested uniform 49 per cent direct foreign direct investment in all sectors, except the negative ones (defence, nuclear energy, etc). The Council released its Economic Outlook for the financial year 2011-12 on Monday. "There are apparent signs of slowing down of foreign investment flow, we need to be proactive in promoting the flow of such investment," the Council said. It noted that inbound FDI declined from $33.1 billion in 2009-10 to $23.4 billion in 2011-12. In-bound FDI for the current year is estimated at $35 billion. At present, key financial sectors, such as banking, have a 33 per cent cap on FDI while for insurance, the ceiling is 26 per cent. Nothing has been decided about the pension sector but it is believed that the FDI cap will be on the same lines as insurance. Favouring a more conducive environment for portfolio foreign investment, the Council wants the Government to move on the recommendations of the U.K. Sinha Committee on financial flows. In 2010, the Committee recommended single-window for the registration of Qualified Foreign Investors, doing away with the distinction between FIIs, foreign venture capitalists and NRIs. The Council, however, expects much lower FII investment during 2011-12, less than half of what the country received during the last fiscal. The reason could be adverse economic developments in the US and Euro Zone. Dr C. Rangarajan, Chairman, PMEAC, said, "World economic situation is not good. Many developed countries have revised their GDP. It will have an impact on us in two ways. First, export growth may come down and second, international commodity prices could face a dampening effect." Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110802-set-fdi-cap-at-49.aspxTue, 02 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110802-set-fdi-cap-at-49.aspxMUMBAI: To standardise asset liability management practices followed by insurance companies, the Insurance Regulatory and Development Authority (Irda) has asked insurers to develop an asset liability management (ALM) policy. "On thorough examination of the details of ALM activities submitted by the life insurers in the Appointed Actuary's Annual Report (AAAR) for the year ended March 31 2010, it appeared these details are incomplete and inconsistent. As the mandate by the authority was very broad, each insurer had adopted its own measures in reporting such details in the AAAR," Irda said. Apart from identifying the various types of risks (as mentioned in the earlier guidelines), insurers would now have to analyse potential downside risks from various investment instruments like equities and fixed interest securities and submit them to the regulator in form of a table. "The insurer shall develop and implement controls and reporting procedures for its ALM policies that are appropriate for its business and the risks to which it is exposed. These shall be monitored closely and reviewed regularly," Irda said. "The draft guidelines are intended to bring in some uniformity in devising ALM practices. Irda has mandated an ALM policy which covers risk considerations and requires stress tests like the impact of 30 per cent fall in equity investments," said Ashish Goyal, chief information officer, Bajaj Allianz General Insurance Company. The guidelines would also determine asset-liability relationships, the insurer's overall risk tolerance, risks and return requirements, solvency position and liquidity requirements. The insurer's board would approve the ALM policy, he added. Read the full article on Business Standard website http://www.ukibc.com/news_and_media/news/110805-form-asset-liability.aspxFri, 05 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110805-form-asset-liability.aspxNEW DELHI: In order to urgently reduce the wastage quotient in the processing of perishables, the ministry of food processing has finalized its Vision 2015 Document which has set a target of tripling the size of the processed food sector, Lok Sabha was told today. Replying in writing to a query on the subject, MoS, MFPI, Charan Das Mahant said that the document envisage increasing the level of processing of perishables from 6% to 20%, value addition from 20% 35% and share in global food trade from 1.5% to 3% by 2015. In order to minimize wastage of fruit and vegetables, Ministry of Food Processing Industries (MFPI) is, consequently, encouraging setting up of cold chain facilities through a Plan Scheme for Cold Chain, Value Addition and Preservation Infrastructure coined during the 11th Plan. This was to provide financial assistance to project proposals received from public / private organizations for cold chain infrastructure development. Read the full article on Economic Times website http://www.ukibc.com/news_and_media/news/110816-mof-vision-2015.aspxTue, 16 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110816-mof-vision-2015.aspxLONDON: Tata Steel has supplied an order for offshore grade steel manufactured in Scunthorpe and Motherwell to a pioneering wave energy device. Aquamarine Power's device, which is capable of generating 800kW of electricity, was unveiled last month by Scotland's First Minister Alex Salmond in Fife. The machine, called the Oyster 800, will now be transported to Orkney, Scotland, for installation later this summer. The order for high-quality steel plate, with enhanced toughness properties, was used to create the device, which is 26 metres long and 16 metres wide. The steel was manufactured at Tata Steel's Scunthorpe steelworks before being rolled at the company's plate mill in Dalzell, Motherwell. Tata Steel worked closely with Burntisland Fabrications (BiFab) which built the Oyster 800 at its Scottish facilities. The Oyster 800 machine can generate 250% more power than Aquamarine Power's first full-scale device, at a third of the cost. It represents a significant step forward in the generation of power from wave energy. The Oyster 800 device will capture energy in nearshore waves and convert it into clean sustainable electricity. It incorporates a wave-powered pump to push high pressure water to drive an onshore hydro-electric turbine. Read the full article on offshoreWIND.biz website http://www.ukibc.com/news_and_media/news/110816-tata-plate-wind.aspxTue, 16 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110816-tata-plate-wind.aspxMUMBAI: Commercial vehicle maker Force Motors on Friday launched a SUV 'Force One' and plans to launch two more variants in 2012, its managing director said. The diesel variant SUV would be sold from September 1, the company said. "The market potential for SUVs is 70,000 vehicles and we aim to sell about 4,000 vehicles in the first year (of launch)," Prasan Firodia told reporters. Force Motors, known for its light commercial vehicle brands--Tempo, Matador and Traveller--has already invested about Rs 150 crore over the last 12-18 months in its plant to manufacture SUVs in Pithampur, Madhya Pradesh. Force One will cost about 1.07 million rupees, the company said. Read the full article on Economic Times website http://www.ukibc.com/news_and_media/news/110822-force-launch-suv.aspxMon, 22 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110822-force-launch-suv.aspxCHENNAI: India's logistics sector continues to be attractive for global investors, says the London-based Eredene Capital PLC, which has seen the value of its investment in India go up by 14 per cent last year. "India remains attractive growth story," it said. Eredene is a specialist investor in Indian infrastructure with a focus on ports, logistics and transportation. It has 11 investments, including container handling, port services, and logistics and warehousing, in India. Of this six are generating revenue, according to the company's 2010-11 annual report. The London-based group reported a profit for the year of £1.9 million. India's economy maintained its strong growth, although high inflation remained a concern. The Indian Government has set ambitious targets for more than $1 trillion to be invested in infrastructure over the next five-year period, 2012-2017 - more than double the amount invested in the previous five-year period, the annual report said. Major infrastructure investment is vital for India's development, and Eredene is, therefore, operating in a critical sector which will almost certainly experience rapid growth. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110822-indias-logistics-space.aspxMon, 22 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110822-indias-logistics-space.aspxCHENNAI: The adoption of electric vehicles (EVs) in India is in its nascent stage. With sales accounting for less than 0.27% of the total cars sold in 2010, the adoption and potential for the vehicles in the country is undeniable, given anxieties around energy independence, high cost of imported fuel and the ability to increase the availability of power through the grid by multiple sources like coal, renewable sources, gas and nuclear power, said Deloittee in its study on 'Gaining traction: Will consumers ride the electric vehicle wave?' released on Wednesday. Kumar Kandaswami, manufacturing industry leader, Deloitte in India, said: "A third of Indian customers expect to purchase the EV around R4 lakh and another third willing to go up to R7 lakh. This would correspond to the prices they would pay for their conventional internal combustion engine (ICE) cars. Clearly, there is an unwillingness to pay a premium for clean technology, as is found to be the case in most markets." The realities that can influence the pace of adoption are the price of fuel and fuel efficiency of the ICE vehicles. A little over 70% of the respondents felt they would consider an EV if the fuel price crosses R85 a litre. Conversely, 74% of the respondents are less likely to consider buying an EV if the ICE cars were to deliver 32 kilometres per litre of fuel, Kumaraswami said. Read the full article on Financial Express website http://www.ukibc.com/news_and_media/news/110825-adoption-electric.aspxThu, 25 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110825-adoption-electric.aspxNEW DELHI: Infosys BPO, the business process outsourcing (BPO) arm of the country's second largest IT company, Infosys, is eyeing $1 billion revenue in the next few years from the current $500 million. With the BPO industry moving from being transaction-based to business-outcome driven, the company is betting big on this aspirational mark by planning to enter new markets, leverage integrated business solutions with IT and acquisitions which will add new capabilities. "We have completed two acquisitions in the last couple of years and they have helped us in entering new markets faster than peers and settling in these geographies too. We are open to acquisitions even now which will help us in reaching the billion-dollar mark," Swami Swaminathan, chief executive of Infosys BPO told FE on the sidelines of the ongoing Nasscom BPO Strategy Summit. The last acquisition by the BPO was of the US-based insurance BPO McCamish Systems in an all cash deal of $38 million in December 2009. The technology services business of the company has a big backing on its back office business. "Out of our 100 clients, 60 are through IT-BPO bundled deals. The rest 40 are standalone BPO clients," says Swaminathan. The company's revenues grew at 21% last year, but Swaminathan admits that the growth was inclined towards the non-linear model as the headcount grew only by 2-3%. The revenue will also be boosted by high-end services based on platforms and patents. Read the full article on Financial Express website http://www.ukibc.com/news_and_media/news/110826-infosys-bpo-1-bn.aspxFri, 26 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110826-infosys-bpo-1-bn.aspxNEW DELHI: India can achieve 9.5 per cent average economic growth in the 12th Five Year Plan, provided steps are taken to push agriculture growth rate to 4.2 per cent and manufacturing to 11.5 per cent. According to the growth scenarios given in the draft Approach Paper to the 12th Plan (2012-17), it is possible to achieve high economic growth on back of robust performance in the other sectors of the economy. These projections were provided in the document which has recently been approved by the Full Planning Commission headed by the Prime Minister Manmohan Singh. The Full Commission, however, has settled for 9 per cent economic growth, although Singh indicated that it is possible to raise the growth target to 9.2 per cent in the 12th Plan. "... we will be working on a growth rate of 9 per cent per annum, but we will also keep open the possibility of raising the growth rate, if the domestic and international situation improves, to 9.2 per cent," Singh had said after the full Commission meeting on Saturday. However in order to achieve 9.5 per cent, the government will have to raise farm sector growth target to 4.2 per cent from estimated 3.3 per cent in the 11th Plan (2007-12). Although the Commission had set a target of 4 per cent growth in 10th Plan (2002-07) also, but country could achieve 2.3 per cent. Read the full article on Economic Times website http://www.ukibc.com/news_and_media/news/110826-push-manufacturing.aspxFri, 26 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110826-push-manufacturing.aspx NEW DELHI: India is unlikely to impose any restriction on foreign direct investment in pharma amid worries of foreign takeovers in the industry hiking medicine prices. A committee set up by the Prime Minister and headed by Plan panel member Arun Maira is sharply divided over a proposal to whittle down foreign investment in pharma to 49 per cent from 100 per cent by declaring the sector "sensitive". The health and industrial policy departments, which are represented by their secretaries, are apprehensive of easy takeover opportunities threatening cheap medicine supplies to the poor. However, the Plan panel as well as the pharma and other departments feel the move will be "retrograde and send a wrong signal to global investors". A suggestion to continue with earlier takeovers and stop fresh buyouts by imposing a 49 per cent cap on existing firms while allowing 100 per cent FDI in greenfield companies has also been ruled out as this may not be compatible with WTO norms on cross-border investments. There have been around eight takeovers of Indian companies over the last three years, including the $3.6-billion buyout of the country's largest drug firm, Ranbaxy Laboratories, by Japan's Daiichi Sankyo in 2008. Read the full article on Telegraph India website http://www.ukibc.com/news_and_media/news/110830-hands-off-policy.aspxTue, 30 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110830-hands-off-policy.aspxBERLIN: India will receive a loan of €200 million from the European Union to finance private sector projects for the development of renewable energy resources. The EU's assistance comes as part of its "strategic partnership" with India and will be made available by the European Investment Bank (EIB) to ICICI Bank, in the first-ever cooperation between the two financial institutions. It is intended to provide long-term financing for investments on a number of electricity generating projects, especially in areas of solar photovoltaic, biomass and onshore wind power by private companies, thereby making a contribution to the country's efforts to reduce greenhouse gas emissions, the EIB said on Monday in a press statement. The loan is being provided under the EIB's Energy Sustainability and Security of Supply Facility (ESF), a €4.5 billion programme designed to reinforce the EIB's goal of promoting renewable energy and energy efficiency in non-EU countries. This is the first cooperation between the long-term financing institution of the 27-nation EU bloc and India under the ESF programme, the statement said. The ESF is used when the bank does not need a credit guarantee from the EU because the recipients are investment-grade countries or where appropriate security can be provided. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110901-india-gets200mn.aspxThu, 01 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110901-india-gets200mn.aspx TCS wins 5-year IT deal from Volkswagen UK 13th May 2009 Tata Consultancy Services (TCS), India's largest software exporter, today said that it has won a five-year contract to provide IT services to Volkswagen Group UK, a unit of Volkswagen AG. The company has not disclosed the value size of the contract. "UK-India biz ties to get boost if Cong comes to power" 13th May 2009 The Commerce Minister, Mr Kamal Nath has said that if the Congress is voted to power in the Lok Sabha elections, currently under way, the insurance, banking and retail sectors would be further opened up and UK-India business links will get a boost. UK, India to run 5 projects to study climate change 12th May 2009 India and Britain have announced five new projects to assess the potential impact of climate change in India and to undertake regional projects to identify and develop adaptation strategies. Essel Propack eyeing UK's Betts 12th May 2009 Essel Group said in its annual report that it is facing huge operating losses due to its UK unit. Essel Propack, a leading laminated tube maker is eyeing a controlling stake in England's tube maker Betts, reports Economic Times, quoting sources. The Essex based tube maker was placed in administration after breach of banking covenants. Tata Steel UK to prepay Rs 1,500 cr debt 12th May 2009 Tata Steel UK, a wholly-owned indirect subsidiary of Indian steel-maker, will prepay over 200 million pounds (about Rs 1,500 crore) of the non-recourse debt to de-leverage its European operations. UK interior design firm forays into Indian real estate 11th May 2009 UK-based interior designing firm Casa Forma has forayed into India's property market and is looking at revenue of Rs 40 crore in the next two years, besides planning to start a brokerage business soon. We want access to credit, not bailout: Tata to Britain 10th May 2009 Criticising the British government for ignoring the manufacturing sector, Indian industrialist Ratan Tata has said he was not asking for a bailout but only a "facilitation of access to credit on commercial terms" for his businesses in the UK. U.K. Says It's Continuing to Talk With Tata Motors About Aid 7th May 2009 The U.K. government said it's continuing talks with Tata Motors Ltd on providing aid to its U.K. Jaguar Land Rover unit.' http://www.ukibc.com/news_and_media/news/13052009.aspxWed, 13 May 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/13052009.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/news/14_04_2010.aspxWed, 14 Apr 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/14_04_2010.aspx India to offer $11bn to IMF 14th April 2009 India is likely to offer $10-11 billion as its contribution to the IMF's incremental lending corpus at a meeting of G20 finance ministers to be hosted by US treasury secretary Tim Geithner in Washington on April 25. Fraud-hit Satyam offloads 31% stake at $353m 14th April 2009 Tech Mahindra - an Indian outsourcing group partly owned by BT of the UK - yesterday won the auction for a controlling stake in Satyam Computer Services, which is at the centre of India's biggest corporate scandal. India emerging as global business power: ISB survey 14th April 2009 With foreign assets growing by more than 100 per cent annually in recent years, Indian multinational enterprises (MNEs) have become significant investors in global business markets and India is rapidly staking a claim to being a true global business power, according to a survey of Indian MNEs investing outside India. BT opens security centre in India 14th April 2009 BT India, the local operation of BT, one of the world's leading providers of communications solutions and services, has opened its first-ever BT Asia Pacific Security Operations Centre (SOC) in India. 'India has a lot to teach the markets hit by recession' 13th April 2009 Bartle Bogle Hegarty (BBH), the UK's advertising agency fondly called the black sheep of advertising, is known for its association with brands like Johnnie Walker, Levis, Mentos and Axe. It is also known for the way it has reacted to economic slowdowns. As the current economic crisis continues to rage all over the world, BBH has come to India. John Hegarty, its global creative director, tells Sapna Agarwal & Suvi Dogra that recession is a good time to try out new things. Tata looks to restructure £2bn Jaguar and Land Rover debts 12th April 2009 Tata, the Indian conglomerate, is poised to hire advisers to help restructure its estimated £2bn debt burden on Jaguar Land Rover. http://www.ukibc.com/news_and_media/news/15042009.aspxWed, 15 Apr 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/15042009.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/news/18_11_2009.aspxWed, 18 Nov 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/18_11_2009.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/news/18_11_2009_solar.aspxWed, 18 Nov 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/18_11_2009_solar.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/news/1_12_2009.aspxTue, 01 Dec 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/1_12_2009.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/news/2010_jetco.aspxThu, 04 Feb 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/2010_jetco.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/news/26_11_2009.aspxThu, 26 Nov 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/26_11_2009.aspx UK Trade to Focus on Nagpur The 'orange city' of Nagpur in Maharashtra is the focus of Britain's latest trade and investment initiative in India as the city transforms itself as part of a major government-funded infrastructure project. UKTI urges firms to engage India's IT market A report has highlighted the business opportunities for Britain's technology sector in India's growing middle class. The report was produced by UK Trade and Investment (UKTI) and is aimed at British firms working with semiconductors, mobile communications and healthcare. It says there are opportunities to combine the UK's frontier expertise with India's huge IT business to provide technological solutions for India and round the world. Nooyi tops FT's world's 50 top biz women list India-born cola queen Indra Nooyi has topped the list of world's 50 top business women compiled by the Financial Times, which also features three Indians -- Britannia's Vinita Bali, Biocon's Kiran Mazumdar Shaw and HT Media's Shobhana Bhartia. Barclays will shift focus to affluent consumers Battling to reduce stressed assets that are crimping the profitability of its India business, Barclays Bank Plc is shifting its focus from the mass market to affluent consumers while continuing to expand lending to companies. 'India is on the move' And the good news is that UK companies are uniquely placed to capitalise on the South Asian powerhouse's £344bn infrastructure boom - as an increasing number of firms are discovering. Business minister Lord Davies of Abersoch does not mince his words when it comes to India. On a trade mission to promote UK involvement in the subcontinent's infrastructure development last week, the politician sent out a clear message to British firms: "India is on the move and we must move with it." Forthcoming UKIBC Events India Direct Tax Code changes - what do they mean for your investments in India? 06 Oct 2009, Online Webinar Informa Leaders in India Business Forum 2009 09-10 Oct, Mumbai, India UK India Business Council Annual Summit & Gala Dinner Oct 29, 2009, LONDON This year's flagship event will take place in the historic setting of Lancaster House and we are confident of building on last year's success. Our theme; UK - India: Partnership in Action, will explore 21st Century models of partnership, appropriate to the UK/India trade relationship and bring together business and political leaders to share their insight and experience. For more info, please go to www.ukibcsummit.com http://www.ukibc.com/news_and_media/news/30092009.aspxSun, 27 Sep 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/30092009.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/news/hsbc_set_to_buy_indian_operation.aspxMon, 21 Jun 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/hsbc_set_to_buy_indian_operation.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/news/india_proposes_tax_on_gains_from_stock_sales_funds.aspxThu, 17 Jun 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/india_proposes_tax_on_gains_from_stock_sales_funds.aspxCutting the price of the Eurofighter Typhoon is among the options that would be considered by the four-nation consortium to re-enter the bid for India's $10-billion fighter jet contract, British defence contractor BAE Systems has said. Read more here Discuss here http://www.ukibc.com/news_and_media/news/120207_bae_systems_looking_at_cutting_eurofighter.aspxWed, 08 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120207_bae_systems_looking_at_cutting_eurofighter.aspxVenture capital bested private equity quite handily last year, a strong vote of confidence in the new breed of India's entrepreneurs. Across the risk capital market, there is growing chatter that venture market is the place to be. Indian entrepreneurs are churning out winning ideas, which are in turn attracting millions of dollars in funding. Read more here Discuss here http://www.ukibc.com/news_and_media/news/120208-venture_capital.aspxWed, 08 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120208-venture_capital.aspxIn a move that will give financial flexibility to Indian companies with foreign investments of up to 49%, the government is all set to do away with the sub-cap restrictions currently prevailing across various sectors. This means investments by foreign institutional investors (FIIs) or foreign direct investment (FDI) can both be allowed without any cap on either. Read more here Discuss here http://www.ukibc.com/news_and_media/news/120210_sub_caps_fdi.aspxFri, 10 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120210_sub_caps_fdi.aspxThe government has decided to fast-track the clearance of roads and highways projects in the remaining months of the current financial year. Read more here Discuss here http://www.ukibc.com/news_and_media/news/120216_pm_for_speedy_clearance_of_road_project.aspxThu, 16 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120216_pm_for_speedy_clearance_of_road_project.aspxIndia is now more trade-dependent than before. The share of trade in GDP was 45.8% in 2009, from 27.4% in 2000. The growing trade dependence has created a huge demand for logistics infrastructure, which calls for more investment, and modernisation of the logistics network. Read more here Discuss here http://www.ukibc.com/news_and_media/news/120222_creating_a_seamless_network.aspxThu, 23 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120222_creating_a_seamless_network.aspxExports in January rose 10.1 per cent to $25.4 billion after dismal, single-digit growth in November and December. The growth in January was primarily due to depreciation in the rate of the rupee during October and November, the impact coming with a lag. Read more here Discuss here http://www.ukibc.com/news_and_media/news/120307_exports.aspxWed, 07 Mar 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120307_exports.aspxThe IT industry in India is a key sector in the continued growth of the Indian economy according to UK Trade and Investment. Read more http://www.ukibc.com/news_and_media/news/ictidealbusinessopp.aspxMon, 14 Feb 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/ictidealbusinessopp.aspx The UK's largest event focused on boosting trade with India will be held in Manchester next month. Its organisers, the UK India Business Council (UKIBC), expect more than 500 businesses to attend the conference at Bridgewater Hall on March 10. Richard Heald, Chief Executive of the UK India Business Council, hopes to raise the profile of the event by visiting businesses based at Manchester Science and Innovation Parks. He believes there are opportunities for Manchester firms to invest in India's media and life sciences industries. The UKIBC believes that the rise of the UK's digital commerce scene in cities like Manchester can help UK firms secure business opportunities in India's IT industry, which is worth more than £30 billion, while its entertainment and media sector is expected to be worth £15 billion by 2014. Mr Heald said: "India has grown hugely on an economic and demographic basis. What we are seeing is that the population is getting younger. They've got higher levels of consumer spending. This generation is focusing on media and entertainment. "Over 500m people have handsets now. Some 150m households have cable TV. That means more than 600m people have access to cable TV out of a population of 1.2bn and growing. That's a huge potential market." The conference will focus on six key sectors: infrastructure, skills & education, retail, logistics and supply chain, technology, life sciences, and advanced engineering and manufacturing. To see the article on the original UKTI website, follow the link http://www.ukti.gov.uk/uktihome/home/item/125639.html http://www.ukibc.com/news_and_media/news/uktisummitarticle.aspxTue, 22 Feb 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/uktisummitarticle.aspx HYDERABAD: Vaccine maker Bharat Biotech will supply India's first indigenously developed diarrhea vaccine to global markets and UN procurement agencies at a cut-price of $ 1, making it the cheapest vaccine manufactured so far globally, the company said on Monday. Rotovac - the vaccine is currently under Phase III clinical trials and will be commercialized by 2015, thereby improving access and affordability to poorer nations. According to the Centre for Disease Control, about 500,000 child deaths are reported each year due to rotavirus diarrhea. Read the full article on Economic Times' website http://www.ukibc.com/news_and_media/news/110606c-1dollarrotavirusvaccine.aspxMon, 06 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110606c-1dollarrotavirusvaccine.aspx Marks and Spencer Reliance India (M&S India) has said it will increase its sourcing of local merchandise to 70 per cent in the next two years for its Indian operations. It is also extending its business to Tier 2 cities to meet buoyant demand. M&S India is a 51:49 per cent joint venture between the Mukesh Ambani-run Reliance Retail and the UK-based retailer Marks and Spencer. It was set up in April 2008. The joint venture sells products such as women's, men's and children's clothing as well as beauty and homeware products. "We have been here as a brand for the last ten years. Prices were prohibitive then because of high import dependence. But as we started sourcing locally, we have gained consumers. Today, 52 per cent of our stock is locally sourced and we intend to take this to 70 per cent by next two years," Mr Martin Jones, CEO, Marks and Spencer Reliance India told Business Line. M&S entered India in 2001 as a premium brand in a franchisee agreement with Planet Retail Holdings. During that period, the merchandise on offer was high-end as all the products were imported and the company had to pay over 40 per cent import duty. The company gradually reduced its dependence on imports and began to source from the domestic market to save on import costs. It has also been able to bring down the average prices of its merchandise. At present, the price points available in M&S stores are in the Rs 300-4,000 range. Read the full article on Hindu Business Time's website http://www.ukibc.com/news_and_media/news/110627-ms-india-increase-local-sourcing.aspxTue, 28 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110627-ms-india-increase-local-sourcing.aspx An exclusive panel discussion exploring how the UK and India can expand its innovation relationship took place on June 20th at KPMG Canary Wharf. The expert panelists addressed the key question: how can British and Indian universities and companies work together - as partners of choice - to keep ahead of the innovation curve in today's fast-changing global scene? Opening the discussion Richard Heald, CEO, UKIBC, said, The UK remains a global leader in upstream creativity and innovation across the whole range of industrial sectors, for three reasons: the effective commercialisation of research; the growth of risk capital; and the mentoring effect of entrepreneurial ecosystems. India is rapidly becoming one of the major global manufacturing hubs - it is now ranked in the top 10 in terms of manufacturing competitiveness. Significant Indian government initiatives will ensure this progress. However, the nexus between India Industry and innovation remains nascent. In part this is because the phenomenal growth currently experienced is the major challenge for management, in part risk and seed capital is scarce and in part because the existing innovation hubs are still developing. The UKIBC will be exploring this theme throughout 2011-12. Rajan Bharti Mittal, Bharti Enterprises said Indians are natural innovators. There is a word very commonly used in India 'juggad'; which means self sustained innovation. From a very young age, Indians are keen innovators. However, to become an innovation hub, India needs partnership with countries like the UK. Innovation is not limited to technology alone, companies could also innovate services and products. There are two Indias in India today: Bharat (rural India) and India (urban India). Bharat's needs are different to those of India's. 60 per cent of the growth in telecoms sector comes from Bharat (rural India) where they are using mobile technology for money transfer, checking prices etc. These business models are now being replicated in Africa. So far, India's growth has been haphazard. Moving forward, it needs a cluster approach. Currently, India is looking for partnerships in solar, security and education. It also needs to think about 2050 and issues like food security. Tips: India requires a price point. It's a very value for money society; very discerning society. In the next two decades India is where innovation will happen Innovators should focus on building models for masses, not classes. For example, Tata produced a 2000 pounds car. Naina Lal Kidwai, HSBC Indian has energy and desire for innovation but it lacks the ecosystem to enable it. Financing innovation is also an issue in India. Though government agencies, universities and authorities are doing a good job, there is a lack of coordination in setting up of innovation hubs. Links between the IIMs, IITs and VCs are missing. India should also connect its university departments for Science & Technology. Though patent and processing laws are improving in India, we need more work in the area. There is also a big gap in financing. VC is very difficult to come by. Angel funding comes from Silicon Valley entrepreneurs like Vinod Khosla who invest in clean technology and IT. Tip: Opportunities are there in setting up energy efficient buildings. Sectors including pharmaceuticals, healthcare clinical research offer ample opportunities Dr Rajiv Kumar, FICCI said: UK firms sometimes lose out when they have to upscale their innovation as they get bought out by the US firms. Indian companies, which are capital-rich could form partnerships with such UK companies. There are many innovation opportunities in India, including in working with the National Innovation Association to set up innovation clusters. Opportunities: FICCI will be focusing on leather, textile and automotive parts clusters. The plan is to introduce innovation by means of competition. We are inviting companies with innovative models and designs to join the cluster. It is an open invitation to anyone who can help the cluster upgrade its technology or design. FICCI also offers a matchmaking service for Indian companies called Biznet. Over 500 companies from $30-$300 m investment capabilities are using it. I welcome UK companies to participate in Biznet. Tip: Companies should innovate so that it suits Indian consumer masses. Urban regeneration is UK's strength. India is looking for it. Social innovation is something that India can learn from the UK Professor Vincent Emery, University College London (UCL) In the UK we see cutting edge innovation from universities and institutions. There are also close links between the Universities and the industry. We have seen universities create leading IP for top innovation in Rolls Royce and other leading companies. Tip: Innovative UK companies should go out into emerging markets. Uday Phadke, Cartezia When it comes to UK and India, we need to look at two-way technology transfer. In India, inclusive innovation works. Biocon is a fine example of such innovation. However, there is a dearth of VC in India. Banks can do more to fill this gap. There is also a need to create innovation hubs. There can be various drivers for the hubs. For example, in the UK, the Bristol hub is corporate driven, York & Sheffield is focused on manufacturing and is built by re-skilling and hand drafting. Cambridge is a classic example where proximity to key educational institutions plays a vital role. Tip: It's not enough to innovate, businesses also need to have commercial skills to make it a success. Technology that matches market needs succeeds. Back to UKIBC newsletter, June/July 2011 http://www.ukibc.com/news_and_media/news/110628-ukibc-innovation-campaign.aspxMon, 27 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110628-ukibc-innovation-campaign.aspx The Prime Minister's Economic Advisory Council (PMEAC) is expected to project a GDP growth rate of 7.5% for 2012-13 due to various challenges confronting the economy. For the current fiscal, it is expected to keep it at 7%, a shade above the Central Statistics Office's (CSO) estimate of 6.9%. But, government officials say PMEAC is likely to flag the concerns explicitly when it unveils its economic outlook on Wednesday. Read more here Discuss here http://www.ukibc.com/news_and_media/news/120221_gdp_growth.aspxTue, 21 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120221_gdp_growth.aspx India is looking at holding spectrum auctions for the fourth generation (4G) mobile services by the end of this year, besides finalising plans to sell off radio waves for the 2G services, Telecom Minister Kapil Sibal has said. Read more Discuss here http://www.ukibc.com/news_and_media/news/120301_4g.aspxThu, 01 Mar 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120301_4g.aspxExports grew 10.1 per cent year-on-year in January to $25.34 billion despite weak demand in the Western markets, reversing a declining trend shown since the peak of July 2011. Read more Discuss here http://www.ukibc.com/news_and_media/news/120301_exports.aspxThu, 01 Mar 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120301_exports.aspxAn additional capacity of 10 million seats will be created in higher education during the 12th Plan which will commence from April 1, according to Dr Narendra Jadav, Member, Planning Commission. Read more To discuss Click here http://www.ukibc.com/news_and_media/news/120304_12th_plan.aspxMon, 05 Mar 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120304_12th_plan.aspx NEW DELHI: India will achieve its $500 billion export target for 2014 on account of increasing demand in new markets like Latin America and Africa, a study released here on Sunday said. Export trends shows India's dependency on the US market has reduced by great margin and in 2011, the UAE emerged as the country's top export destination, PHD Chamber Chief Economist Mr S P Sharma said, adding that China and Singapore have emerged among its top five export destinations… ( Read more ) http://www.ukibc.com/news_and_media/news/071111_2014export_target.aspxMon, 07 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/071111_2014export_target.aspx MUMBAI: India's foreign exchange reserves rose by $2 billion to $320 billion for the week ended October 28, on account of revaluation of foreign currency assets. According to the Reserve Bank of India, foreign currency assets increased by $1.9 billion to $284 billion. While gold reserves remained unchanged at $28.6 billion, special drawing rights (SDR) and the reserves position in the International Monetary Fund (IMF) went up by $64 million and $37 million, respectively. SDRs rose to $4.6 billion and the reserve position in the IMF was up at $2.6 billion during the reporting period. ( Link to article ) http://www.ukibc.com/news_and_media/news/071111_forex_reserves.aspxMon, 07 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/071111_forex_reserves.aspx Bharti Airtel, India's largest and the world's fifth largest mobile phone operator, has its eyes firmly trained on Africa where it has bumped its investment up by some $491 m - that's 586 per cent - over the past year. The company's African division has yet to turn a profit but the Indian telecoms giant is clearly placing a large bet on a bright future in a continent where mobile phone use is booming and competition is heating up… ( Read more ) http://www.ukibc.com/news_and_media/news/081111_betting_africa.aspxTue, 08 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/081111_betting_africa.aspx In an earlier article 'All you wanted to know about TDS for NRIs', we saw the TDS provisions for various sources of incomes for NRIs. In this article, we look at what happens when the country you are resident in has a double taxation avoidance agreement with India. Currently, India has DTAA with around 80 countries. In this article we will look at DTAA provisions that India has with UK and US. Broadly, NRIs will be able to avail a reduced TDS rate on certain incomes in India. If you are availing this lower rate, you would need to submit a tax residency certificate (issued by the country of your residence) to the payer... ( Read more ) http://www.ukibc.com/news_and_media/news/081111_nri_reducedtaxrates.aspxTue, 08 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/081111_nri_reducedtaxrates.aspx The Indian Government will permit FDI of up to 51% in multi-brand retail, as well as a simultaneous increase from 51% to 100% FDI for single brand retail. The move will open the way for UK companies to invest in the Indian retail market, which will be highly beneficial for both Indian - farmers, SMEs, and consumers - and for UK Businesses. Read the full briefing here http://www.ukibc.com/news_and_media/news/101111_retail_infrastructure.aspxFri, 25 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/101111_retail_infrastructure.aspx NEW DEHLI: The excitement around F1 and motorsport doesn't seem to stop. The promoters of Dabur India, the Burman family, have announced that they are bringing British lightweight sports car makers Caterham to India. With plans for local assembly, the specialist car maker will launch its famous Lotus 7 Series 3-inspired 'Seven' model and the 'SP/300r' track car. While domestic operations will be led by British sports car racer, Mr Matt Cummings, the company also plans to start a training school - the Caterham Academy and grassroot motorsport series next year. In April this year, Caterham was purchased by Air Asia promoter and CEO and Team Lotus F1 principal, Mr Tony Fernandes… ( Read more ) http://www.ukibc.com/news_and_media/news/111030_caterham_india.aspxSun, 30 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111030_caterham_india.aspx The Union Cabinet today approved the guidelines for establishing joint venture companies by Defence Public Sector Undertakings (DPSUs). The guidelines contain provisions for matters critical from a national security perspective. Read more here http://www.ukibc.com/news_and_media/news/111111_uk_widens_educational_engagment_with_india.aspxThu, 09 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111111_uk_widens_educational_engagment_with_india.aspx The National Manufacturing Policy recently cleared by the Cabinet dreams of churning out jobs for you. Why? Because another 220 million Indians will be competing with you for jobs by 2025. This scenario appears grim when viewed against the mere 27 million jobs created in the country between 2005 and 2010 (National Sample Survey). If the policy sets out to do what it plans, at least half the universe of jobs seekers will have a livelihood through the initiatives over the next decade. Here's a low down on what the policy seeks to do and which segments would not only offer more jobs but also provide business opportunities for promoters… ( Read more ) http://www.ukibc.com/news_and_media/news/111117_manufacture_jobs.aspxThu, 17 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111117_manufacture_jobs.aspx With the global economic crisis showing "several signs of stress", Prime Minister Manmohan Singh said on Saturday India's growth rate will take a hit this year. "We have grown at an average of 8.4 per cent in the past five years. Like other countries we, too, have slowed down in 2011, but we still expect to grow at around 7.5 per cent. However, none of us can prosper in isolation to the rest of the world," Singh told world leaders at the East Asia Summit. He acknowledged Asia's emerging economies, having weathered the headwinds to some extent, were "growing well" and were, "in fact, contributing to the recovery of the world economy". Read more http://www.ukibc.com/news_and_media/news/111121_growth_indian.aspxMon, 21 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111121_growth_indian.aspx Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin-top:0cm; mso-para-margin-right:0cm; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0cm; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} Automobile giant Tata Motors has said it has added new features and more powerful engine to its small car Nano. However, the company said it will retain the prices of world s cheapest car at it earlier level. Making the Tata Nano even more desirable, the car s 624cc engine has been made more powerful, delivering an impressive 38 PS of power (earlier 35 PS) and 51 Nm of torque (earlier 48 Nm), the company said in a statement. Read more here http://www.ukibc.com/news_and_media/news/111202_tata.aspxFri, 02 Dec 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111202_tata.aspx Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin-top:0cm; mso-para-margin-right:0cm; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0cm; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} The entire political opposition to allowing overseas investment in retail is focused on the assumed plight of traders and small merchants in India. How about consumers, who outnumber sellers by many multiples? And what about farmers, the bulk of India's population? The idea of organised retail is to get quality stuff to buyers at reasonable prices. To do that, retailers employ technology, storage and logistics to cut overhead costs, run lean inventories and minimise waste. Read more here http://www.ukibc.com/news_and_media/news/111206_fdi_inretail.aspxTue, 06 Dec 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111206_fdi_inretail.aspx With rising petrol and diesel prices making it tough to tame inflation, the Government is now planning a serious policy push towards developing alternate automotive technologies. Read more here http://www.ukibc.com/news_and_media/news/111206_randd-fund.aspxTue, 06 Dec 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111206_randd-fund.aspx South India's favourable demographics and other developmental parameters have given the region a pre-eminence in the information technology and IT-enabled services sectors Read more here http://www.ukibc.com/news_and_media/news/111216_development_it.aspxFri, 16 Dec 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111216_development_it.aspx Reviving hopes of meeting this fiscal's target of $300 billion, exports rose 6.7 per cent in December 2011 to $25 billion from $23.4 billion in the corresponding month a year ago. However, things might not be rosy in 2012, said commerce secretary Rahul Khullar, referring to the likely demand slump in the US and EU markets. Read more here http://www.ukibc.com/news_and_media/news/120207_export_increase.aspxTue, 07 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120207_export_increase.aspx Information technology (IT) can make healthcare accessible and affordable to more people in the country, industry lobby the National Association of Software and Services Companies (Nasscom) said on Monday. "IT can provide access to healthcare facilities. Also, it can have a positive impact on affordability and effectiveness of healthcare in India," said Som Mittal, president of Nasscom at the Health 2.0 conference. Experts from the healthcare sector came together for the conference that emphasises on innovation and IT in health services. Read more here http://www.ukibc.com/news_and_media/news/120207_it_healthcare.aspxWed, 01 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120207_it_healthcare.aspx Japan External Trade Organisation (JETRO) through its Chennai chapter has urged the State government to provide more facilities to Small and Medium Enterprises (SMEs) by way of strengthening infrastructural facilities. Read more here http://www.ukibc.com/news_and_media/news/120207_plea_to_strengthen_infrastructural_faciliti.aspxThu, 02 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120207_plea_to_strengthen_infrastructural_faciliti.aspx Expanding its presence in the U.S., IT major Tata Consultancy Services (TCS) has opened a new facility here which is welcomed by the U.S. lawmakers and the Californian government. Read more here http://www.ukibc.com/news_and_media/news/120207_tcs_opens_new_facility_in_silicon_valley.aspxWed, 01 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120207_tcs_opens_new_facility_in_silicon_valley.aspx Indian firm Tata Communications has finalised a multi-year technology service and marketing agreement with Formula One Management. The agreement will involve Tata Comms delivering world-class connectivity to all 20 Formula One race locations over its global network, the largest in the world. Read more here Discuss here http://www.ukibc.com/news_and_media/news/120222_tata_comms_clinches_formula_one_tech_deal.aspxThu, 23 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120222_tata_comms_clinches_formula_one_tech_deal.aspx Maharashtra plans to set up three more manufacturing zones under the National Manufacturing Policy (NMP), apart from the two that are coming up in Raigad and Aurangabad districts, a senior official said. Read more To discuss Click here http://www.ukibc.com/news_and_media/news/120304_manufacturing.aspxMon, 05 Mar 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120304_manufacturing.aspxFrench industrial engineering major Alstom recently completed 100 years of operation in the country and further fortified its position in the power and transportation businesses. The financial crisis of 2008 and a slowing economy brought some concerns for the company, but it weathered the storm by bringing out new offerings for its customers and getting new orders. Sunand Sharma, chairman, Alstom Projects India and country president, Alstom, India and South Asia, spoke to Subhash Narayan of FE about the Indian market and the company's strategy for consolidating its position here. Edited excerpts: Read more here Discuss here http://www.ukibc.com/news_and_media/news/120307_opportunity.aspxWed, 07 Mar 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120307_opportunity.aspx Dear Reader, How do you, as a UK company, capture the benefits of the largest defence procurement programme in the world US$32 Billion, a US$1trillion infrastructure spend, a US$800 billion consumer retail market, an overwhelming skills requirement of 500 million trainees in 10 years or a creative revolution on the back of 4G and broadband roll out? This is the question when considering the opportunities offered by India's rapid progress to one of the largest economies in the world. Accessing India from the UK, via a subsidiary in India, or via the formation of an Indian company are difficult but critical decisions which we will tackle head on at the UKIBC Networking Summit at the Bridgewater Hall, Manchester on March 14 2012. We aim to provide "accelerated learning" through expert advice clinics run by specialists from the Intellectual Property Office, Export Finance UK, HR and legal specialists, and UKTI's UK and Indian teams. At the same time, the experiences of companies big and small from across sectors including Rolls Royce, ITC, PwC, Bournville College, Pearson, Pizza Express, Pavers Shoes, Clansman Dynamics, Get Through Guides, Grant Instruments, Ernst and Young, Clasis Law, and Flexera Software will be on show. The conference is being headlined by Mr. Chandrasekaran, CEO of Tata Consulting Services, India's largest technology service company by revenue and market capitalisation. He will outline his unique perspective of doing business successfully in India. At the same time, we are pleased to say that there will be a delegation of Indian high tech engineering companies attending the conference I am also delighted that Secretary of State for Business, Innovation and Skills Dr. Vince Cable will be addressing delegates and will be mingling with businesses at our Networking Reception. Preparations are proceeding apace. There is a good response from businesses from across Britain and, like last year, we expect over 500 delegates at the event. To encourage businesses from the North East , Yorkshire & Humber, and the North West to participate in the event, our Chair Patricia Hewitt and I visited the regions and met local businesses from Durham, Newcastle, Sheffield, Hull, Preston, Manchester, and Middleborough among others. This was facilitated by the North East Chamber of Commerce and Hull and Humber Chamber of Commerce. I also met the North West Automotive Alliance and Chemicals North West. The response was tremendous and I am pleased to hear that British companies believe much more can be done and should be done to increase trade with India. India is one of the world's fastest growing economies and projected to be one of the world's largest by 2030. The average Indian income will grow by 27 times in the next four decades. One way or another, India will impact your business. If you have not signed up for the event yet, please wait no longer as places are going fast. For more information and to register please go to www.ukibc.com/summit. Yours sincerely, Richard Heald Chief Executive UK India Business Council To discuss Click here To return to the Newsletter click here http://www.ukibc.com/news_and_media/news/120320-ukibc-newsletter-foreword.aspxMon, 20 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120320-ukibc-newsletter-foreword.aspxThe Reserve Bank of India (RBI) on November 21, 2011, issued guidelines to allow banks and non-banking financial companies (NBFCs) to sponsor infrastructure debt funds (IDFs), to support long-term finance in infrastructure. Read more. http://www.ukibc.com/news_and_media/news/221111_rbi.aspxTue, 22 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/221111_rbi.aspxMumbai: The sale of mobile devices in India will rise 8.5 per cent to touch 231 million in 2012, according to a research report from Gartner. The Indian mobile handset market is expected to show steady growth through 2015 when end-user sales will surpass 322 million units. Read more. http://www.ukibc.com/news_and_media/news/231111_mobile_devices_sales_grow.aspxWed, 23 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/231111_mobile_devices_sales_grow.aspx Normal 0 0 1 77 443 3 1 544 11.1287 0 0 0 NEW DEHLI: New home loan borrowers of up to Rs 15 lakh will get Rs 14,865 as interest subsidy from the Government, on the condition that the cost of the house should not exceed Rs 25 lakh. Announcing the Cabinet's decision here on Tuesday, the Minister for Information and Broadcasting, Ms Ambika Soni, said, "The Cabinet has approved the proposal of increasing the cap under interest subvention scheme. It will be effective from the date of notification." A revised scheme for interest subvention was announced in the Budget this year... ( Read more ) http://www.ukibc.com/news_and_media/news/cabinet_interest_281011.aspxFri, 28 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/cabinet_interest_281011.aspxYou could soon take a fast train from CST to Navi Mumbai. The Central Railway's proposed fast-train corridor on the harbour line will run almost parallel to the new Eastern Freeway. While the railway line will go all the way to Panvel, the freeway will end at Ghatkopar to join the highway. There is also a tentative plan to link the corridor with the under construction Nhava-Sheva sea link and connect it till Uran. The freeway, being built by Mumbai Metropolitan Region Development Authority (MMRDA), consists of an elevated road from P D'Mello Road parallel to Chhatrapati Shivaji Terminus (CST) right up till Anik to connect with the Eastern Express Highway. The 60-km rail link, partially elevated, will start from Carnac Bunder and will end at Panvel. While the Central Railway has submitted the proposal to the state government for its approval because land acquisition will be required, the state is said to have sought funding from the World Bank to get the project completed in time for the new Panvel airport. Railway officials said chief minister Prithviraj Chavan, who holds the transport portfolio, and Central Railway's general manager Kul Bhushan, who also holds a powerful position in New Delhi, have shown a keen interest in the project and it would soon see the light of the day. Discussions are on the practicalities of implementing the project. "There is no space along the existing corridor as it passes through dense localities. A new line towards the east side was the only practical idea. Earlier, trains used to run all the way till Ballard Pier and this is a revival of the same old corridor," said an official. "The new corridor will have a new set of trains, either air-conditioned or like the existing ones, and a new bridge over the creek. But all this will require a separate budget and probably a separate budget head or an independent body to get it implemented," he added. "These things could be a part of the third phase of the Mumbai Urban Transport Project that is still at the planning stage," he added. Read the full article on Daily News & Analysis website http://www.ukibc.com/news_and_media/news/eastern-freeway-to-have-rail-corridor.aspxWed, 09 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/eastern-freeway-to-have-rail-corridor.aspxMUMBAI: Indians are consuming more eggs, meat, milk and vegetables which is leading to an increase in food prices, finance minister Pranab Mukherjee said. Speaking at a function in Navi Mumbai to launch a new cattle finance scheme by Dwaraka Milk, the finance minister said that one of the reasons why food prices are going up is because of economic growth and consequent increase in wages which is resulting in a rising demand for all food products, including rice grains eggs meat and milk. "Principle reason for food inflation is that the demand for eggs, meat, vegetables and milk has increased," said Mukherjee, adding that food inflation was a matter of grave concern. Food inflation touched a nine-month high at 12.21% for the week ended October 22. In a recent report, Deutsche Bank pointed out that the government's decision in October 2011 to raise the minimum support prices ( MSP) of key Rabi crops (winter crop) by 15-39% on the back of a 8-19% increase in prices of Kharif crops in June 2011 would keep food inflation elevated above the double-digit mark, thereby preventing the anticipated moderation in WPI inflation through end-March 2012. The report highlighted that prices of food items have risen steadily for 10 weeks in a row. "The last weekly price drop in food category was seen for the week ending 6th August; since then, pressure on food prices have continued unabated, preventing the year on year inflation rate from trending meaningfully below the double-digit mark," it said. Read the full article on Times of India website http://www.ukibc.com/news_and_media/news/economic-growth-pushing-food-inflation.aspxTue, 08 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/economic-growth-pushing-food-inflation.aspxStudents should be given training to enhance their vocational skills. Between classes IX and XII, they should get at least one year of professional training to be competent to enter the industry, said former President A.P.J. Abdul Kalam during an interaction with students at Jothinagar. Addressing the Golden Jubilee celebrations of Pioneer Mills Higher Secondary School, he said that by the time students passed out of school, they should be given a skill certificate apart from the academic certificate. Important While reminding the students about his vision of India 2020, he said that it was important to bridge the gap between cities and villages. Citing the example of Nobel prize winner Mario Renato Capecchi, who spent his childhood on the streets and at orphan homes, he reiterated that through determination and hard work anyone could come up in life. School days Recalling his school days, he said his teacher Sivasubramaniya Iyer had explained the flight mechanism in birds and this had inspired him to learn about rockets. When asked during an interaction whether it was wise to spend huge amount of money on scientific research while a large section of people still lived in poverty, Mr. Kalam said scientific innovations would help improve the living conditions of the people. The food production in India during the 1950s was only 50 million tonnes and this had come up to over 235 million tonnes today. This was made possible due to the scientific progress in agriculture, he said. "The two factors that are important for the development of our country are economic progress and citizens of ethics," said Mr. Kalam. Sapling planted He planted a sapling at the school compound as part of the school's initiative to plant 80 saplings on the campus to mark his 80th birthday. Managing Trustee of Pioneer Trust Suguna Devarajan and Director of Pioneer and GRG institutions spoke. Read the full article on The Hindu website http://www.ukibc.com/news_and_media/news/enhance-vocational-skills-of-students.aspxTue, 18 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/enhance-vocational-skills-of-students.aspx First, I would like to wish you a very Merry Christmas and a prosperous 2012. 2011 has been an active year for the UKIBC. I hope that you have noticed our efforts to offer better services and information during the past 12 months.The improvement in the website, the launch of the sector fora and the hub have all be designed to improve delivery to members. I have been very grateful for the contributions of the UKTI and our members as this has allowed us to upscale our interactions and engagements across the spectrum of raising awareness. We have ambitious plans for 2012 which will allow us to broaden our reach and focus on facilitating bilateral trade between India and the UK. Both India and the UK have challenges going into 2012. Despite an inconsistency in decisions making at Union Government level and difficult near term economic outlook, India - and particularly the private sector - remains a very attractive destination for exporting and outbound investment. Jim O'Neill's recently published book -which should be in your Christmas stocking -retains its bullish outlook on India. The UKIBC will continue to promote aggressively causes where we believe that the UK has significant attractions for India. Our skills delegation of 59 of in September last was a good case in point, meeting businesses, exploring opportunities and striking partnerships in Kolkata and New Delhi. In November/December on the back of the City of London Infrastructure Conferenceand a BIIG meeting, we took a Urban Development/ Regeneration to Kolkata, Delhiand Bhopal. Finally, I would like to bring your attention to PwC's recent report on responding to the UK Bribery Act 2010. This publication produced inpartnership with UKIBC, which can be found here , seeks to inform UK Businesses on how to prepare for the Acts implementation and to raise awareness of bribery risks, as well as suggesting how commercial organisations can mitigate the associated risks. We look forward to taking forward our programme into 2012. Our membership is increasing on the back increased awareness for India. This in turn gives the UKIBC a greater voice to promote UK PLCs interests. Our Networking Summit on 14 th March is focussed on Entry Strategies. The networking opportunities as well as meeting the experts facilities will give all companies a range practical advice and case studies. I very much look forward to meeting and talking to you in 2012. Richard Heald, Chief Executive, UK India Business Council http://www.ukibc.com/news_and_media/news/foreworddec2011.aspxWed, 21 Dec 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/foreworddec2011.aspxThe much-awaited National Manufacturing Policy was approved on Tuesday by the Union Cabinet. It comes at a time when the country is facing a slowdown in manufacturing and industrial growth. The policy aims to create 100 million jobs within a decade and increase the share of manufacturing in the country's GDP to 25 per cent by 2022 from the current 15-16 per cent (a level that has been stagnant since 1980). Among the key instruments for realising these goals is the setting up of National Investment and Manufacturing Zones (NIMZ). The minimum land area of each NIMZ - or greenfield integrated industrial townships with the modern infrastructure - is to be 5,000 hectares. Announcing the policy, the Commerce, Industry and Textiles Minister, Mr Anand Sharma, told reporters that, "No cultivable, agricultural and forest land will be allowed to be acquired for NIMZs." The first phase of the NIMZ will be established along the Delhi Mumbai Industrial Corridor which will see early results in the next few years, he added. The policy also has a host of fiscal incentives mainly for the micro, small and medium enterprises. In this regard, an official statement said, "Individuals will be eligible for relief on long-term capital gains tax if the sale proceeds of a residential property are reinvested in equity of a new start-up company," adding that tax pass through status for venture capital fund will be available if they focus on manufacturing. The other significant features are the single window clearance mechanism to cut red-tape and the high-priority for skill development. "Private sector will be given standard deduction of 150 per cent of expenditure for skill development institutes," the statement said. The policy was finalised after over 20 months of intense stakeholder consultations. These discussions had seen difference of opinion, notably from the Ministries of Environment and Labour. Green focus With a view to protect the interests of labour in cases of closure of units, the policy has a mechanism of fund to insure the workers against such loss. The policy also features third party inspections in addition to inspections by Government agencies for compliance of both environment and labour norms. The focus will also be on 'green manufacturing'. In this regard, a Technology Acquisition Fund will be set up to acquire global technologies and build a patent pool especially for equipment manufacturing that seeks to reduce energy consumption. SMEs will be given access to this patent pool up to a maximum of Rs 20 lakhs for acquiring patented technologies, the statement said. The policy statement says that support will be given to employment-intensive industries to ensure job creation, adding that, "Special attention will be given to textiles and garments; leather and footwear; gems and jewellery; and food processing industries." Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/govt-clears-manufacturing-policy.aspxTue, 25 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/govt-clears-manufacturing-policy.aspxNew Delhi, Nov. 08 Delhi Health and Family Welfare Minister A K Walia today underlined the need for commissioning more hospitals at the earliest in the Capital. Dr Walia chaired a review meeting here to discuss the status of approved/under construction hospital projects. The Health Minister told the PWD to initiate construction of those new hospitals which have been cleared by all angles and are awaiting construction. He further directed the PWD to put construction of new projects on fast track apart from keeping a close eye on quality and structural stability, an official statement said. Dr Walia directed that the construction of a modern Diabetic Block at GTB Hospital be initiated at the earliest and the pending issues with the MCD be resolved within 2 to 3 days. He instructed to expedite the work of Sarita Vihar Hospital, extension of LBS Hospital, extension of Pooth Khurd Hospital and extension of Guru Govind Singh Hospital. Dr Walia further instructed to expedite projects relating to 200 hundred bedded Ambedkar Nagar and Burari Hospitals as these have been taken out of the ambit of PPP Mode. The Health Minister also gave suitable instructions to complete the finishing work so that 200 bedded Kokiwala Bagh Hospital at Ashok Nagar could be commissioned at the earliest. The Health Department and the PWD have been asked to complete spade work of Dwarka Hospital for which an estimate of Rs 684 crore has been prepared. Dr Walia has also directed the PWD to expedite the issue of change of use in respect of Siraspur, Madipur, Chhatarpur and Jwalapuri Hospitals pending with the DDA, the statement added. Read the full article on Chennai Online website http://www.ukibc.com/news_and_media/news/need-for-commissioning-more-hospitals.aspxTue, 08 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/need-for-commissioning-more-hospitals.aspxNew Delhi: The Reserve Bank of India (RBI) has stuck to its view that capital-raising instruments with inbuilt options to exit with assured returns won't be treated as equity under the foreign direct investment (FDI) policy. The central bank has reiterated its stand, in response to concerns officially expressed by the department of industrial policy and promotion's (DIPP) that such a policy would hit the flow of foreign funds into the real estate sector at a time when it badly needs low-cost finance. The RBI said in a recent note: "Only instruments which are fully and mandatorily convertible into equity within specified time of six months would be reckoned as part of equity under the FDI policy. Foreign investment coming as any other type of preference shares/debentures would be considered as debt and shall require to conform to ECB guidelines." Since ECBs are highly restricted in real estate, it is impossible for real estate firms to raise money through this route. FDI is allowed only in real estate projects of specified size and not in real estate business (buying and selling of properties) as such. Billions of dollars in private equity funds and FII money have been flowing to Indian real estate companies through instruments allegedly disguised as equity. The companies have been helped by Indian non-banking financial companies to strike deals with foreign debt providers. The RBI said that instruments with built-in optionality - a put option, or facility to buy back shares and assured returns will invariably be treated as debt. Instruments such as compulsorily convertible debentures / preference shares will otherwise be considered as equity and thus FDI. Further, the central bank said payment of interest other than dividend, interest on equity shares or preference shares will not be considered as FDI. The new directions will also clear the air on what is equity and what constitutes debt in calculating FDI. Read the full article on Financial Express website http://www.ukibc.com/news_and_media/news/rbi-reiterates-stance-on-equity-tag-on-foreign.aspxMon, 24 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/rbi-reiterates-stance-on-equity-tag-on-foreign.aspxNew Delhi: Road transport and highways ministry has decided to use satellite images for planning and monitoring of national highways, a move that would help in use of minimal farmland in road construction. This could in turn reduce the possibility of protests by farmers against land acquisition. To start with, it has identified 3,000 sq km area in Assam, Rajasthan, Maharashtra, Tamil Nadu and Chhattisgarh to trace usable land through satellite images procured from the Indian Space Research Organisation's National Remote Sensing Centre (NRSC) in Hyderabad. "We want to keep a track of remote areas through this pilot project. We will use such images in more regions based on our experience of road development in these areas," a senior official in the ministry told FE on condition of anonymity. The ministry has invited expressions of interest (EoIs) from companies for providing satellite images from NRSC. The last date of submitting EoIs is November 3. Currently, there is no effective technology for planning and monitoring of highway construction and officials mainly depend on time-consuming and expensive physical field surveys for the purpose. An exception is made on 7,000-km roads where the National Highways Authority of India (NHAI) uses a web-based information system. Satellite imagery is considered a more advanced technology for development of physical infrastructure. Environment ministry had also marked contentious 'go' and 'no-go' areas for mining based on pictures taken through satellites. The use of this technology is important for the road ministry as it is gradually increasing award of national highway projects, raising pressure on farmlands. In 2011-12, it expects to bid out projects for road construction at 7,994 km against last year's 5,083 km and 3,360 a year before that. Road ministry expects the technology would provide updated view of areas, helping it in better monitoring of construction and maintenance of roads. "We can save money also as a lower cost would be incurred on satellite images than on detailed physical surveys," a NHAI official said. Read the full article on The Financial Express website http://www.ukibc.com/news_and_media/news/satellite-imaging-to-help-monitor.aspxWed, 19 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/satellite-imaging-to-help-monitor.aspx Recent research commissioned by the Isle of Man Government has shown the Isle of Man continues to dominate the AIM market. The research was conducted by Hemscott and has shown the Isle of Man to be in first place in respect of the largest number of non-UK incorporated AIM top 100 companies. The Isle of Man was shown to have a market share of 18.6%, up from 16.3% a year earlier (2010). Bermuda and British Virgin Islands took second and third place respectively. Read more here http://www.ukibc.com/news_and_media/news/120314_aim.aspxTue, 03 Jan 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120314_aim.aspxIndian Government has approved setting up of 15 Mega Food Parks under Infrastructure Development Scheme. The main features of the scheme are cluster based and demand driven approach. Availability of approximately 50 -100 acres of land and adequate quantity of raw materials are basic criteria for the selection of location for setting up of such Parks. Setting up of 15 more Mega Food Parks have been proposed during the remaining period of 11th Five Year Plan. The States for these projects have not been finalized. This scheme is aimed at creating state of the art infrastructure facility for enabling setting up of food processing industries. Through backward linkages, Special Purpose Vehicle (SPV) of the Mega Food Park enters into an arrangement with farmers' group in the catchment area for production of desired variety and quantity of farm produce to ensure regular supply of raw material to the Mega Food Park. This has facilitated clusterised farming on demand driven manner with market orientation. The farmers are assured of the market for their farm produce and get remunerative prices thereby increasing their income considerably. Read the full article on InvestinIndia website http://www.ukibc.com/news_and_media/news/110815-indian-gov-approves.aspxTue, 16 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110815-indian-gov-approves.aspxMUMBAI: Indian mutual funds can now directly accept subscriptions from foreign investors for their equity schemes up to a limit of $10 billion, a move that will further liberalize the portfolio investment route and widen the foreign investor base of the domestic equity markets. Foreign investors have also been permitted to invest an additional $3 billion in mutual fund debt schemes that invest in infrastructure bonds, according to guidelines notified by the Reserve Bank of India and the Securities and Exhange Board of India (Sebi). So far only foreign institutional investors (FIIs) and overseas Indians were allowed to buy units of domestic mutual funds. Finance minister Pranab Mukherjee​ announced in this year's budget that foreign investors will be allowed to invest in equity schemes of mutual funds. But now the scope has been widened to debt schemes of mutual funds after a representation by the industry to the finance minister. Read the full article on LiveMint website http://www.ukibc.com/news_and_media/news/110816-foreigners-invest.aspxTue, 16 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110816-foreigners-invest.aspxSINGAPORE: India's fuel demand growth is likely to slow in the second half of this year, but probably not by as much as the International Energy Agency forecasts. In order to meet the IEA's latest forecast of a 3.6 percent gain in 2011, oil-product sales would have to expand 2.9 percent in the last six months, after they grew at a 4.3 percent rate in the first half. While it's reasonable to expect some slowing of fuel demand in the world's fourth-largest energy user, it's hard to see why the 4.3 percent recorded in the first six months of the year should tail away quite so dramatically as the IEA suggests it will. India's economy is still expected to expand 8 percent this year, after growth of an annual 7.8 percent in the first quarter. Industrial production rose a faster-than-expected 8.8 percent in June from a year earlier, defying slowdowns in similar measures in China and economies in Europe and the United States. With India's economy holding up, fuel demand growth should be able to do the same, notwithstanding the risks of slower growth in Western economies and some moderation in China. Read the full article on Economic Times website http://www.ukibc.com/news_and_media/news/110817-india-fuel-demand.aspxWed, 17 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110817-india-fuel-demand.aspxNEW DELHI: Ask a big luxury chain or branded apparel company if they've ever heard of Una in Himachal Pradesh, and they would probably draw a blank. But places where the bigger players stay away from, start-ups -- the quintessential risk-takers -- are venturing in big numbers. Small-town India is no stranger to Channelplay Consulting, a retail marketing firm; Cocoberry, a frozen yoghurt chain; Snapdeal-. com, a daily deals website; Naaptol .com, a product comparison search engine, or Shear Genius Unisex Salon; a salon chain -- all 12 months to four years old. For all these companies, it makers perfect sense to venture into a market where consumption is high, as are opportunities for hiring. From Sitapur in Uttar Pradesh, Una in Himachal Pradesh, Jalpaiguri and Howrah in West Bengal to Bhatinda in Punjab and Bhavnagar in Gujarat, startups are making their presence felt all over the country. The companies are hiring people for operations , sales, marketing and logistics on a salary of Rs 10,000 to Rs 25,000 per month, from freshers to people with up to three years' experience. Companies and smaller towns and cities are thus mutually helping each other in long-term development. Channelplay has employed over 3,000 employees across 300 cities since its inception in 2006, which is expected to double by next year. The 15-months-old Snapdeal.com has hired more than 500 members across 30 cities in India and plans to double the workforce by the year-end. Cocoberry too has employed 200 people within a span of two years while Shear Genius has hired 65 people for its four stores in Bhopal, Dehradun and Indore. On an average, 50% to 80% of their employees are from tier-II and tier-III towns. Read the full article on Economic Times website http://www.ukibc.com/news_and_media/news/110817-start-ups-mushroom.aspxWed, 17 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110817-start-ups-mushroom.aspxNEW DELHI: The government plans to accord high priority to developing large "solar parks", or clusters of units that can generate a total of up to 5,000 megawatts, to help cut costs, Renewable Energy Minister Farooq Abdullah said on Wednesday. Solar parks would be built in the second phase of the National Solar Mission. The mission aims to generate 20,000 mw of power from sunlight in the next decade. Speaking at The Energy and Resources Institute, Abdullah said that solar parks would comprise 25% of the total target capacity under the second phase of the mission. India plans to add 4,000 mw of grid connected solar power in the second phase between 2013 and 2017. A 'solar park' is a concentrated zone of solar energy development, targeting 3,000-5,000 mw of generation over time, facilitating reduction in costs of the nascent technology. The ministry plans to launch a scheme providing central financial assistance to the states for site and soil survey, preparing detailed engineering reports as well as infrastructure development including evacuation facilities. Read the full article on Economic Times website http://www.ukibc.com/news_and_media/news/110818-solar-parks.aspxThu, 18 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110818-solar-parks.aspx  India Inc wishes to recognise and celebrate the tremendous contribution being made by individuals in the UK who have continued to enhance the UK-India business relationship. Last year alone saw UK-India bilateral trade grow by 20 per cent bringing the total to £13 billion. This figure is expected to grow to £24 billion by 2015. The UK is by far the most popular destination in Europe for Indian companies and will continue to play an increasingly important role in the economy. Power People 2012 is a unique publication - the only power list to profile the top 100 UK-India Rainmakers. It celebrates, highlights and recognises the business leaders that have created phenomenal value and developed the UK-India relationship. This first publication profiles leaders whose ideas, actions, discovery and talent have transformed many lives through economic prosperity. It will be launched as an e-publication and as a glossy magazine that will receive the widest possible circulation. An exclusive VIP networking launch event is being planned at a Central London venue to launch Power People 2012. To self-nominate or nominate others please fill out the short form which can be found here. Nominations open: Friday 16th March, 13.00 Nominations close: Monday 9th April, 13.00 http://www.ukibc.com/news_and_media/news/120404_indiainc.aspxWed, 04 Apr 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120404_indiainc.aspx Dear Reader, I am pleased to announce that we will be holding a major conference in London on 15th November entitled " Innovation ∞ through partnership " focusing on how the innovation skills in UK PLC can help achieve sustainable growth in UK India bilateral trade. Areas such as clean technology, affordable healthcare, digital technology, low carbon buildings, innovative sourcing and selling and accessibility of education will be highlighted. A delegation of companies from India will be attending. Furthermore, I am delighted to welcome four new members to the UKIBC Board -Rod Smith, Managing Director, Edexcel International, Miles Cowdry, Director, Rolls Royce, S. Anwar Hassan, Director, Tata Limited and Sir Mark Walport, Director, Wellcome Trust. Their experience and insight will help us shape the UK-India agenda going forward. It is also pleasing that opinion formers in India are increasingly looking at ways they can increase FDI flows. In this context, the Prime Minister's Economic Advisory Council 2011-2012 categorically stated that there was a clear case for permitting (a minimum) 49 per cent Foreign Direct Investment (FDI) in all sectors which are not prohibited. Such a move would favorably impact on certain sectors such as banking and insurance. At the same time, indications are that a consensus is building which would extend such measures to sectors such as multi-brand retailing and defence. On the negative side, the Planning Commission has constituted a high-level committee to consider all relevant aspects regarding the FDI in the pharmaceutical sector in the wake of recent take-overs. It remains a fact that FDI caps are relatively blunt instruments in controlling business activity; a case we will continue to make. As part of the Britain India Infrastructure Group, we continue to explore ways in which UK Plc might further interact with India. Late July, senior UK Government officials, the UKIBC and a senior group of financial intermediaries met with Secretary Gopalan of the Department of Economic Affairs. This meeting took place during the visit to London of Shri Pranab Mukherjee, Minister of Finance for the UK-India Economic and Financial Dialogue. Discussions focused on Indian proposals for an Infrastructure Debt Fund. The UKIBC is coordinating a response in the form of the UK Financial Sectors own proposals. At the same time, with headline growth still above seven per cent and confidence buoyed by a good Monsoon, India remains a key opportunity. On the ground due diligence is critical. Over the coming months, the UKIBC will be taking delegations to India - a Skills delegation in September, an SME delegations in October and supporting an urban regeneration delegation in November. At the same time, we will be hosting incoming delegations here. I hope you will be able to participate in some form! They will offer a great opportunity to meet Indian businesses and explore partnerships. Yours sincerely, Richard Heald Chief Executive UK India Business Council Back to UKIBC newsletter, August/September 2011 http://www.ukibc.com/news_and_media/news/110912-ukibc-newsletter-foreword.aspxMon, 12 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110912-ukibc-newsletter-foreword.aspxWe are pleased to welcome Preston Technical Ltd, Aramex, WebsEdge, Lalcap, Simcocks Trust, Ferrymoss, Foster & Partners, Diabetes-cutmyrisks.co.uk, Neil & Brown as sector members to the UKIBC. To find out more about our new member offer please go to www.ukibc.com Back to UKIBC newsletter, August/September 2011 http://www.ukibc.com/news_and_media/news/110913-seven-new-members.aspxTue, 13 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110913-seven-new-members.aspxMUMBAI: Come October and health insurance policyholders, dissatisfied with the service of their insurer, can switch to another company and carry with them their track record and no-claim bonuses. The IRDA on Tuesday issued final guidelines which gives insurance companies directions on portability. In terms of the guidelines, a policyholder will have to approach an insurer 45 days before his policy with the old insurer expires, to enable the new company consider his application. The acquiring insurer will verify the claims history from the common database which will have two years of claims experience. Based on the data, the acquirer will decide whether to accept the proposal and the price at which it will do so. The old insurer will be bound to provide additional data to the new insurer within 7 days of receipt of the application and the new insurer will have to either accept or reject the proposal within 15 days after receipt of data from the old insurer. If the decision is not communicated within a fortnight the new insurer will be bound to accept the proposal. Read the full article on Times of India website http://www.ukibc.com/news_and_media/news/110914-mediclaim-portability.aspxWed, 14 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110914-mediclaim-portability.aspxMUMBAI: Tata Steel has announced completion of its £2 million investment at its Dudley plant in the West Midlands in the UK for upgrading its hot-rolled strip processing capabilities. The final investment has come from installing a leveller at a cost of £500,000, which will come on-stream in January 2012. This move will help the steel-maker increase supply to clients engaged in manufacturing construction and earth-moving equipment. The new leveller, a bespoke design by industrial equipment manufacturer Heinrich Georg in conjunction with Tata Steel's research and development team, will be used to supply premium products to manufacturers of forklift truck frames, wheels, agricultural equipment and trailers. "The lifting and excavating sector has shown positive growth this year and is forecast to continue growing into next year. We'll be facing demand for greater volumes from customers who also require products that meet exceptionally high standards. "The new investment at Dudley will mean Tata Steel is best placed to meet this demand," Tata Steel Europe's Marketing Manager for Lifting and Excavating, Mr Terry Bennett said. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110914-tata-completes.aspxWed, 14 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110914-tata-completes.aspxNEW DELHI: A National Automotive Board (NAB) to look into policy and certification-related issues of the automobile industry will soon be in place. It is expected to come into force in the next two to three months. "The NAB will mainly be the co-ordinating authority for the upcoming seven automotive centres of National Automotive Testing and R&D Infrastructure Project (NATRiP). All certification such as mileage and pollution check will come under its scanner," said the Department of Heavy Industry Joint Secretary, Mr Ambuj Sharma. The board is also considering formulating guidelines regarding recall of vehicles. "Currently, the guidelines for recalls are being deliberated. We are also discussing imposition of penalties if the auto maker does not recall vehicles despite faults," Mr Sharma said. It will look into issues such as electric and hybrid mobility and replacement of vehicles. "We have set up a demo centre at Chennai for replacing old vehicles, which should be functional by the end of this fiscal," he added. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110922-national-auto-board.aspxThu, 22 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110922-national-auto-board.aspxMUMBAI: The debate on opening up FDI in multi-brand retail took centre-stage on day one of the India Retail Forum in Mumbai on Wednesday. Representatives of modern retail made the case for FDI in order to facilitate expansion, even as trader associations opposed the idea. Mr Kishore Biyani, Founder and Group CEO, Future Group, noted, "The major issue of controversy between the Government and industry is on the food business, which impacts 65 per cent of the population. Modern retail drives consumption of processed foods, which promotes economic activity. Processed food cannot be sold at mom-and-pop stores. Impetus to modern retail will come from FDI, because foreign investors in retail have a long-term perspective - they look at a horizon of 10 to 20 years, unlike domestic investors." Mr Viren Shah, President, Federation of Retail Traders Welfare Association, and Mr B.C. Bhartia, National Federation of All India Traders, alleged that the interests of small traders would be compromised with the allowing of FDI. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110923-fdi-debate.aspxFri, 23 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110923-fdi-debate.aspx India to open its mobile frontiers with UK innovation 6th May 2009 India is counting on wireless broadband to bring the Internet to rural India and foster economic growth and opportunity for its people, according to Mr NK Goyal, President of the Communications & Manufacturing Association of India (CMAI). Plotting the best course 5th May 2009 With the offshore outsourcing market experiencing more than its fair share of turmoil recently, IT leaders can be excused for feeling just a little disoriented. But as Linda More discovers, careful planning and canny negotiating can still open up a world of opportunity. Virgin Atlantic Signs Codeshare Agreement with Jet Airways on Mumbai Route 5th May 2009 Virgin Atlantic is entering into a new codeshare agreement with the Indian carrier Jet Airways on flights to Mumbai, it has been confirmed. Indian stocks second best performers among BRIC in April 1 May 2009 NEW DELHI: Following a sharp recovery in the equity markets, Indian stocks have emerged as the second best performers as compared to their peers in three other BRIC nations - Brazil, Russia and China, giving close to 20 per cent return in April. According to an analysis of MSCI Barra indices, a measure of returns from various stock markets across the world for foreign investors, Indian stocks have given the second highest return after Russia among the four BRIC countries during last month. Indian stocks have provided a return of nearly 19.54 per cent in April, while China and Brazilian markets have given 10.87 per cent and 18.89 per cent respectively. However, Russian equities have managed to outperform the Indian stocks in the month as it provided investors with a positive return of over 21 per cent, as per the analysis of performances of Morgan Stanley Composite Indices (MSCI) for various nations. JLR to enter India 'in a few months' 29th April 2009 Two of Britain's iconic cars, Jaguar and Land Rover, are expected to make their official entry into India in 2009. The India foray of the two brands, which debuted in 1922 and 1948, respectively, has been hastened by their new Indian owner, Tata Motors, which took over in 2008 from Ford Motor Company of the US. Jaguar Land Rover rescue in doubt 29th April 2009 An £800m emergency package for Jaguar Land Rover is in doubt because of wrangling between the Treasury and Lord Mandelson's business department, the Guardian has learnt. http://www.ukibc.com/news_and_media/news/06052009.aspxWed, 06 May 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/06052009.aspx UK work window for IT professionals turns smaller BANGALORE: UK, one of the top markets for Indian outsourcing firms, on Tuesday accepted recommendations of the Migration Advisory Committee (MAC), paving way for stricter immigration norms and restricting job opportunities for skilled migrant workers from countries such as India. University of Birmingham opens first overseas office in India The University of Birmingham has opened its first overseas office in India that will focus on recruiting students besides building partnerships with Indian institutions and developing research collaborations. Takeover code set for complete makeover India's takeover code, which was responsible for a big wave of M&A activity and corporate consolidation after being introduced in 1997, is set for a big change. The Securities and Exchange Board of India, or SEBI, has set up a special committee to review its key provisions after realising the need to make it relevant to current needs of investors and companies Sir Martin Sorrell: You can't decouple India from world The WPP Group is one of the world's largest communications services companies with companies in the group including JWT, Ogilvy & Mather and GroupM among others. Sir Martin Sorrell, founder and chief executive officer, WPP, on his 20th visit to India (his first one to Bangalore) speaks about various issues like economic climate, the newspaper business and the disruptive new media. Jet Air Cancels Flights for Second Day Amid Dispute Sept. 9 (Bloomberg) -- Jet Airways (India) Ltd., the country's largest carrier by market value, canceled about half its flights for a second consecutive day as an ongoing labor dispute with the airline's pilots stranded travelers. New Indian tax rules could hit UK companies New Indian tax rules could cause some grief for foreign companies working in the country, say experts. Britain's biggest companies may have to revise their tax planning after India proposed controversial new tax laws. The new laws could see a foreign company with management presence in India considered tax resident in the country, with global revenues taxed at 25%. Mothercare's India ops get DLF push NEW DELHI: Mothercare, a UK retailer for kids and expectant mothers, is forming a 51:49 joint venture with India's largest real estate company DLF, said two people close to the development. Forthcoming UKIBC Events UKIBC Delegation to Delhi, Nagpur & Mumbai September 14-18 (Delhi, Nagpur, Mumbai) UKIBC is taking a delegation to Delhi, Nagpur and Mumbai as part of its Emerging Cities Roadshow. The delegation will visit Nagpur, one of the nine cities identified in the Opportunities for UK PLC in Emerging Cities of India report to explore business opportunities and also attend the UKTI awards in Mumbai. For more information, click here or RSVP Louisa.Campbell@ukibc.com UK India Business Council Annual Summit & Gala Dinner Oct 29, 2009, LONDON This year's flagship event will take place in the historic setting of Lancaster House and we are confident of building on last year's success. Our theme; UK - India: Partnership in Action, will explore 21st Century models of partnership, appropriate to the UK/India trade relationship and bring together business and political leaders to share their insight and experience. For more info, please go to www.ukibc.com Meet the Buyer - Indian Homeland Security Sector Tuesday 15th September 2009, Emirates Stadium, London 10.00 - 16.00 India is a key growth market for the homeland security sector with many opportunities for UK businesses to set up partnerships, joint ventures and share technology transfer with the Indian private/public sector. To provide a unique platform to facilitate these partnerships, UK Trade & Investment South East (UKTI) along with UK India Business Council (UKIBC) and Security Innovation & Technology Consortium (SITC) are running a 'Meet the Buyer' event specifically for the Indian Homeland Security market. The event will bring together 30 key decision makers from the Indian private/public sector keen to meet UK suppliers and form commercial relationships. http://www.ukibc.com/news_and_media/news/09092009.aspxWed, 09 Sep 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/09092009.aspxTata Communications Ltd plans to buy 5.76 per cent stake in Tamil Nadu-based Green Infra Wind Generation Ltd as part of its plans to use power from alternative energy sources. Read more here Discuss here http://www.ukibc.com/news_and_media/news/120207-tata.aspxWed, 08 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120207-tata.aspx Ian King, BAE's chief executive, said the company was considering a range of options to secure the deal to supply fighter jets, which could help prevent a major industrial setback for Britain. Read more here http://www.ukibc.com/news_and_media/news/120207_bae.aspxTue, 07 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120207_bae.aspx Vodafone India has undertaken a major restructuring of its management with an eye on the next phase of growth. The company, which is also looking at an Initial Public Offering in the country, said that the reorganisation has been done to be 'future fit'. Read more here http://www.ukibc.com/news_and_media/news/120207_vodafone_india_rejigs_organisation_structur.aspxWed, 01 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120207_vodafone_india_rejigs_organisation_structur.aspx The government has decided to start afresh the process of consultation with states to build a consensus on allowing foreign direct investment (FDI) in multi-brand retail after it was forced to roll back a Cabinet decision by its own ally, the Mamata Banerjee-led Trinamool Congress, in December 2011. Read more here http://www.ukibc.com/news_and_media/news/120209_govt_sets_the_ball_rolling_to_lift_the_paus.aspxWed, 08 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120209_govt_sets_the_ball_rolling_to_lift_the_paus.aspx At 10am today, the conference hall at the Methodist Central Hall is packed. As business secretary Vince Cable notes, this is evidence of the growing export ambitions of UK firms and their desire to learn more about selling to Asian markets. 'You must all be very interested in what we are trying to do,' he says. Read more here Discuss here http://www.ukibc.com/news_and_media/news/120210_asian_exports.aspxFri, 10 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120210_asian_exports.aspxThe lower GDP number of 6.9 percent for 2011-12 released last week by the Central Statistical Office was taken in its stride by the stock markets. Read more here Discuss here http://www.ukibc.com/news_and_media/news/120212_gdp_grwoth_rate.aspxSun, 12 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120212_gdp_grwoth_rate.aspxBritain does not regard India's decision to buy French combat aircraft Rafale as a setback to bilateral ties, but believes that it is legitimate to carry on making a case for Eurofighter Typhoon made by a European consortium that includes Britain. Read more here Discuss here http://www.ukibc.com/news_and_media/news/120216_rafale.aspxThu, 16 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120216_rafale.aspxIndia will see the largest number of merger and acquisitions in the pharmaceutical and healthcare sector this year despite stricter regulations, according to consulting firm Grant Thornton. Read more here Discuss here http://www.ukibc.com/news_and_media/news/12021_pharma.aspxTue, 21 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/12021_pharma.aspx Highlighting the opportunities that India offers Lowen, said, "The Indian market offers immense opportunities in various sectors such as infrastructure, healthcare, education and skills, air traffic, energy and ICT, financial and professional services and manufacturing." Ward, sharing his experience of setting up a successful business, told guests, "Start small, have a vision, believe in your product and sell the story of why it is a useful concept. Peter talked about turning his business idea into a success. On India, he said, "India has now become their single biggest market, comprising 4 million clients and driving 18% of their traffic. They receive 200 million page views a month from Indians. Indians are some of their most active and loyal customers and have become champions for their site. He spoke about the challenges he encountered, the lessons he learnt as well as provided useful advice for budding entrepreneurs looking to make the most of opportunities in the vibrant field of online social media. WAYN, one of the world's fastest growing travel and lifestyle social networking community websites, with a presence in 193 countries, has seen its membership grow from 45,000 users in 2005 to over 17 million today. Click here to read the full communiqué Click here to discuss Click here to go back to the newsletter http://www.ukibc.com/news_and_media/news/120220_ngn_wayn.aspxMon, 20 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120220_ngn_wayn.aspxOne of the English Premier League's top football clubs, Manchester United, has opened its first training school in India. Zubair Ahmed reports from Mumbai on what the club hopes to achieve through the school. Read more here Discuss here http://www.ukibc.com/news_and_media/news/120221_manu.aspxTue, 21 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120221_manu.aspxThe government is likely to announce in the Budget a timeline for allowing 51 per cent foreign direct investment (FDI) in multi-brand retail. Read more here Discuss here http://www.ukibc.com/news_and_media/news/120224_multi-brand_retail_fdi_likely_to_get_tim.aspxFri, 24 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120224_multi-brand_retail_fdi_likely_to_get_tim.aspxHigh fuel costs notwithstanding, India is set to add more vehicles for every 1,000 people compared with China over the next two decades. This can be attributed to rapid economic development, industrialisation and ubranisation, according to BP Energy Outlook 2030 . Read more here Discuss here http://www.ukibc.com/news_and_media/news/120227_india_will_add_more_cars_than_china_in_20_y.aspxMon, 27 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120227_india_will_add_more_cars_than_china_in_20_y.aspx Contrary to perceptions of a major slowdown, India's merchandise exports to the European Union (EU) are rising at a robust rate. Latest provisional data show that shipments during April-December 2011 to that region rose 24 per cent to $38.5 billion from around $31 billion during the corresponding previous period, official sources told Business Line . Read more here Discuss here http://www.ukibc.com/news_and_media/news/120229_exports.aspxWed, 29 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120229_exports.aspx I'm writing to share with you brief highlights of my visit to India last week. I had an excellent twenty-four hours in Mumbai, which fortunately coincided with a visit by our new High Commissioner, James Bevan. This was followed by three days in Delhi, including an excellent Round Table on UK - India Collaboration in Primary Health Care, organized by the Wellcome Trust and Indian Ministry of Health. This was co-chaired by Sir Mark Walport, Director of the Wellcome Trust and a UKIBC Board member. Continue reading http://www.ukibc.com/news_and_media/news/120229_view_patricia_hewitt.aspxWed, 29 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120229_view_patricia_hewitt.aspx Bio-pharmaceutical and health science sector representatives from the UK are to explore and expand partnerships with Indian companies. Read more Discuss here http://www.ukibc.com/news_and_media/news/120301_uk_biopharma.aspxThu, 01 Mar 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120301_uk_biopharma.aspxThe world's largest online retailers, Amazon and eBay, are steadily putting together the building blocks of their operations in India, potentially making this country a battleground for their contrasting business models. Read more here Discuss here http://www.ukibc.com/news_and_media/news/120303_online.aspxSat, 03 Mar 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120303_online.aspx The decks have been cleared for the launch of country's first infrastructure debt fund (IDF) under the company route. Private sector lender ICICI Bank and other financial biggies, including Bank of Baroda and Life Insurance Corporation, have decided to come together to set up an IDF as a non-banking finance company (NBFC). Read more To discuss Click here http://www.ukibc.com/news_and_media/news/120304_baroda.aspxMon, 05 Mar 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120304_baroda.aspx  The UKIBC is pleased to welcome BT as a Strategic Partner London: UK's leading telecommunications company BT Group has joined the UK India Business Council as a Strategic Partner. Welcoming the BT as members, Richard Heald, UKIBC CEO said, "I am delighted that BT has agreed to join us. Their pre-eminent position within the UK Industry and their commitment to India means that they will make significant contribution to our agenda of increasing UK- India trade. They will be leading our digital innovation work stream and I am sure that our broad membership will benefit from their insights and interaction". Read the full press Release here Isle of Man Dept. of Economic Development and Havering College have joined as associate members. Cox and Kings Travel Ltd have also joined us as corporate members. Buffin Leadership International, Samera, Westminster Kingsway College, Dudley College, TestPlant Ltd, and Daks Simpson Group Plc also signed up as sector subcribers. Learn more about UKIBC membership here http://www.ukibc.com/news_and_media/news/120320_members.aspxMon, 19 Mar 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120320_members.aspx Earlier this year, 30-year old Saina Jaypal, a public-relations professional, made the biggest investment of her life when she acquired a two-bedroom apartment in Richards Park, a residential suburb in Bangalore. As more women enter the workforce, take home fatter pay packets and become more independent, an increasing number are following Jaypal's lead - investing in flats, cars, two-wheelers and insurance plans, to name a few. Till recently, a far fewer number of women could do so. Read more http://www.ukibc.com/news_and_media/news/120327_women_consumers.aspxTue, 27 Mar 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120327_women_consumers.aspxPremier Inn, the UK's biggest hotel brand and part of LSE-listed Whitbread, plans to invest around Rs 4,000 crore in India within the next eight years to build around 75 hotels. "On an average we will be opening 8 hotels in different parts of the country per year for the next 8-10 years," said Aly Shariff, managing director, Premier Inn India. "In the first five hotels we have invested R300 crore and there are 650 rooms." Read more here http://www.ukibc.com/news_and_media/news/120405_premier.aspxThu, 05 Apr 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120405_premier.aspx A new norm stipulating that only the 'owner of the brand' can invest in Indian retailers selling goods under a single brand threatens to derail their overseas fund-raising plans. The Foreign Investment Promotion Board, the nodal agency that clears investments entering India, is considering the proposal of an Indian retail company to induct a foreign private equity fund as an investor. The proposal is being closely watched as its fate will determine the ability of Indian single-brand retailers to access foreign capital. Read more here http://www.ukibc.com/news_and_media/news/120410_fdi.aspxTue, 10 Apr 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120410_fdi.aspx Home is where the heart is" is a cliche, especially when used by Indian-origin businessmen abroad keen to tap a business opportunity back home. But, maybe, 70-year-old UK-based business tycoon Ravi K Mehrotra is a breakaway from that mould of rich NRIs looking to hit pay dirt whenever an opportunity strikes in India. Coming home has never been a pleasant experience for his company, at least not so far. Still, he wants to return. And he has. A quintessential risk addict, Mehrotra has steered his joint venture in India with premium footwear maker Pavers of UK to apply to the Foreign Investment Promotion Board for 100% foreign direct investment (FDI) approval as a single-brand retailer. Read more here http://www.ukibc.com/news_and_media/news/120410_pavers.aspxTue, 10 Apr 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120410_pavers.aspx Tata's Jaguar Remakes XJ First Time Since 1968 to Stem Losses July 10 (Bloomberg) -- Jaguar, the U.K. luxury-car brand bought by India's Tata Motors Ltd. last year, unveiled the first styling overhaul of its flagship XJ sedan since 1968 to help boost demand and return the unit to profit. Indian business delegation to explore defence tie-ups in UK London (PTI) A high-powered Indian business delegation will visit the UK in September to explore the possibilities of tie-ups in areas of defence and security, the UK-India Business council said on Sunday. Indian grape firm targets UK India's third-largest grape exporter is looking to ramp up its operations in the UK as it targets a "pioneering" market. Suppliers seek slice of Indian market India's Bharat Heavy Electricals Ltd (BHEL) is planning joint ventures in the nuclear energy sector, including the supply of heavy components. The move comes as Areva of France pushed forward its development plans in India. Ad spends to grow at 7.7%; India 14th largest ad market, says ... "Twenty-five markets are still growing. Many of these are young markets but also include heavyweights such as India and China." Govt identifies 355 foreign employers harassing Indians NEW DELHI: Government has identified 355 foreign employers who were found to be harassing Indian workers abroad, the Lok Sabha was informed today. Foreign investors return to China and India MUMBAI: Investment opportunities in China and India will soon be in hot demand again, forecasts Moody's Economy.com. The two emerging giants had remained appealing to international investors even during the gloomiest phase of the global downturn. India chases 121 businesses that vanished The Indian government has launched prosecutions against more than 100 "vanishing companies" that listed on the country's stock exchanges in the 1990s and then disappeared after failing to meet regulatory filing requirements. The ministry of corporate affairs said that investigations had resulted in the identification of 121 such companies. India's Reva plugs in to green market A Bangalore-based company is planning to build the world's largest factory for low-cost, purely electric cars in an attempt to introduce green energy to the subcontinent's rapidly growing automotive industry. Tough choices for India markets regulator When C.B. Bhave took the helm at India's capital markets regulator, the Securities and Exchange Board of India, in February last year, he could not have predicted the tough times ahead. Tata Tea set to refresh brand portfolio The Tata Tea Group, owner of the UK's Tetley tea brand, is targeting acquisitions of international soft drink brands as it diversifies away from tea to become a global beverages company. World Views: India's corporate bond challenge As India grapples with its infrastructure requirements, it is becoming clear that the first bridge India needs to build is one spanning the regulatory gulf in its corporate bond markets. UPCOMING UKIBC Events: How to Business During the Credit Crunch - Insight India Briefings 21 July 09, Leicester Welcome Address by Rt. Hon. Patricia Hewitt, chair, UKIBC Given the current global economic slowdown, the India Insight series will address the issues related to doing business in the current environment and discuss how India stands as a favoured destination for business. The main areas addressed will include: Macroeconomic indicators, Risks, Operations, HR, Policy & Regulations, Taxation, Accountancy practices, Legal framework and Marketing. The macroeconomic update will compare UK and India growth factors and business opportunities. go to www.ukibc.com http://www.ukibc.com/news_and_media/news/15072009.aspxWed, 15 Jul 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/15072009.aspx Two in three British firms banking on India, China to boost revenues In a survey released by the British First Secretary of State, Lord Mandelson, British firms have been urged to enhance their efforts to seek out opportunities in emerging markets like India and China. The survey, entitled Survive and Prosper, found that almost two-thirds of UK companies expect to earn more than 20 per cent of their revenues from these emerging markets within the next five years. UK businesses should be strategic about their exports and plan for the long term. Many emerging markets are outperforming developed economies, and are expected to grow strongly for years to come. This represents an exciting opportunity for UK business providing greater diversity for the exporter, The Daily Express quoted Lord Mandelson, as saying. India's SBI hopes to maintain 40 pct growth in UK MUMBAI, Sept 17 (Reuters) - State Bank of India (SBI.BO), India's largest bank, expects to maintain 40 percent growth in its business in the United Kingdom, Chairman O.P. Bhatt said on Thursday. Bhatt said the bank was looking at smaller acquisitions in the UK, and it planned to make London the core of its operations in Europe. UK keen on Bengal IT-SMEs The Singur fiasco, and the recent Vedic Village mishap, have created a negative image for the state, said Kevin Mc Cole, chief operating officer, UK India Business Council."Bengal government should work towards improving the perception of the state. Land acquisition seems to be a major problem here," McCole said. However, McCole felt that companies based in UK are still keen to invest in West Bengal [ Images ], especially in the IT-SME sector. "This sector has highly skilled workforce with availability of top-quality commercial infrastructure in the state," said McCole. Wellcome Trust and Merck Launch First of Its Kind Joint Venture to Develop Affordable Vaccines for Low-Income Countries India-Based `Hilleman Laboratories` to Operate on a Not-for-Profit Basis to Turn Innovative Science into Practical Solutions. Altaf A. Lal, Ph.D. Named as CEO; Hilleman Laboratories to Extend Legacy of Maurice Hilleman, Ph.D., the Creator of More than 30 Vaccines. The Wellcome Trust and Merck & Co., Inc. today announced the creation of the MSD Wellcome Trust Hilleman Laboratories (www.hillemanlaboratories.in), the first of its kind research and development joint venture with a not-for-profit mission to focus on developing affordable vaccines to prevent diseases that commonly affect low-income countries. UK Trade & Investment announces shortlist for UK-India Business Awards Green innovation companies, pharmaceutical firms and an AIM-listed media company that works with British pop stars are ranked alongside household names on the shortlist for UK Trade & Investment's (UKTI) UK-India Business Awards. The awards will be presented in Mumbai on Thursday. British business should tap into the Indian boom Dropping into Marks & Spencer, picking up presents in the Body Shop and checking out the window display at Debenhams, it could be any British high street. But this is the Ambience Mall, in New Delhi. India's biggest shopping centre, with its glossy kilometre-long corridors, tells the story of the remarkable growth of the middle class, now 300m strong. To put the figure into perspective, India's middle class is a single English-speaking market that is comparable in size to the population of all of the UK's EU trading partners put together. Indian outsourcing firm targets UK students Indian IT service provider Zensar has launched a programme with the University of Essex to train UK professionals working in outsourcing, particularly those in vendor management roles. Analysts firms such as Forrester and Gartner have reiterated the need for more skilled workers in outsourcing with a good mix of project management skills and IT knowledge. RPT-India business, political confidence up in June qtr Business confidence in India rebounded in the June quarter reflecting signs of recovery, and most respondents of a survey expect a weaker rupee and inflation within 8 percent by end of March 2010, a think-tank said. UKIBC MEMBERS SURVEY We would be grateful if you could please take a few minutes to complete our member survey by clicking on the below link. The survey has two parts - an economic update on your India business strategy and a membership services component. We really appreciate you taking the time to complete this survey as your information and feedback on our services is invaluable. Forthcoming UKIBC Events UK India Business Council Annual Summit & Gala Dinner Oct 29, 2009, LONDON This year's flagship event will take place in the historic setting of Lancaster House and we are confident of building on last year's success. Our theme; UK - India: Partnership in Action, will explore 21st Century models of partnership, appropriate to the UK/India trade relationship and bring together business and political leaders to share their insight and experience. For more info, please go to www.ukibcsummit.com Partner Event Informa Leaders in India Business Forum 2009 9-10 Oct, Taj Lands End, MUMBAI, India http://www.ukibc.com/news_and_media/news/16092009.aspxWed, 16 Sep 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/16092009.aspx Tata's Trent, UK's Arcadia may set up 15 apparel stores in India Trent, the retail arm of the Tatas, plans to open around 15 stores of Topshop and Topman brands in the country in the next three years, in a franchise agreement with Britain's Arcadia group, said an informed source.Topshop and Topman are women's wear and men's wear brands of Arcadia, which is owned by British billionaire Sir Philip Green. India's 'Not for Sale' Legal Market Draws U.S., U.K. Law Firms June 16 (Bloomberg) -- Two weeks before Clifford Chance LLP said it would fire as many as 100 lawyers in London and New York, the world's largest law firm by revenue announced an alliance with India's AZB & Partners to expand operations there. Service cos managing improved margins from domestic business Bangalore, June 16 Despite the lower billing rates, some of the businesses in the domestic market are fetching Indian IT service companies margins comparable to what they get in mature markets such as the US or the UK. While pricing may not have increased significantly, a large number of India deals are fixed-price contracts, which give IT companies the room to improve profitability through cost management. India's domestic BPO to reach $6 Billion by 2012 Bangalore: India's domestic Business Process Outsourcing [BPO] market has grown at a rate of 50 percent over last five years and has reached $1.6 billion revenue in 2008. It has grown faster than the export BPO even though it is smaller than $11 billion BPO export market according to a survey done by Ernst and Young. "Outsourcing is not new to India. Indian companies have been doing this for a long time now. But what we were surprised to find was the depth and scope of portfolio outsourcing firms are ready to consider," said Milan Seth, Partner, Technology Practice, Ernst and Young. GSK signs deal with Dr Reddys for access to emerging markets GlaxoSmithKline's drive to diversify its business and become a stronger force in emerging markets around the globe has stepped up a gear after the drugmaker signed a deal with India's Dr Reddy's to develop and market the latter's products in a number of countries. Career Opportunity with UKIBC: Business Services Manager The UK India Business Council (UKIBC) is the lead organisation supporting the UK Government in developing business between the UK and India. It is a private sector company, with a growing membership of large and small companies, and delivers services to businesses in the UK and India. The UKIBC is seeking to appoint a highly motivated Business Services Manager http://www.ukibc.com/news_and_media/news/17062009.aspxWed, 17 Jun 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/17062009.aspx Exchange volatility biggest fear for India's CEOs: PwC Pricewaterhouse Coopers (PwC) has released its 13th Annual Global Chief Executive Officer (CEO) Survey assessing the mood of corporate India and providing insight into India's competitiveness. They conducted a survey of nearly 62 CEOs from large Indian companies. The verdict is clear that India Inc is feeling confident even as the world recovers from its worst global economic downturn in 75 years. The survey has also highlighted a number of risks and, in particular that India Inc is worried about the volatility of the exchange rate. Rolls-Royce CEO targets India for future growth +91 Europe, one of the fastest growing networks of Indian CEO's, corporate executives and professionals, held a high profile event in Hotel Le Richemond, Geneva, on 5 November. The event explored how luxury brands such as Rolls-Royce were targeting the Indian market for future growth. Keynote speaker was Tom Purves, CEO, Rolls-Royce. India is no stranger to the luxury industry. According to Forbes' annual list of the world's wealthiest people, India has the most billionaires of any Asian country. Rakesh Rawal, founder of +91 Europe, said: "Whilst doing the research for the event, I had a chance to learn more about the amazing history of Rolls-Royce, and I can only say that Rolls-Royce truly stands for the "Great" in Great Britain. I believe affluent Indians will once again see Rolls-Royce as the ultimate symbol of success." Standard Chartered Plans to Offer 'Big Piece Missing' in India Standard Chartered Plc, the U.K. bank that earns almost all its profit in emerging markets, will step up advising clients on share sales in India next year, South Asia Chief Executive Officer Neeraj Swaroop said. "The big piece missing in the wholesale side was equity capital market-related activity, which we are bringing in," said Swaroop in an interview at his office in Mumbai. "We will, in 2010, be in the equity space because that's one capability that we were not offering our wholesale clients." The additional service in India, its second-largest contributor to profit after Hong Kong, will help the London-based lender tap a market where share sales climbed to at least a five- year high in the third quarter. Top Honours for Asian Businesses at Lloyds TSB Southern Jewel Awards Some of the brightest stars of the British Asian community were recognised at the Lloyds TSB Jewel Awards, including some of the region's most successful entrepreneurs. The event, which is now in its seventh year, was held on Saturday 7th November at the London Hilton, Park Lane. The event saw nine coveted awards presented in various categories ranging from business and commerce, professional service, healthcare, education and public life. Commenting on the awards, Mrs Kamel Hothi, Asian Markets Director, Lloyds TSB Corporate Markets, says: "For over half a century, the Asian community in Britain has been making a huge contribution to all aspects of life, not least the economy. I would like to congratulate all of the winners on their outstanding achievement as they continue to set a benchmark in these challenging economic times, when their abilities and acumen are truly put to the test…" HSBC says emerging markets are driving global recovery HSBC says emerging markets are driving a recovery in the global economy, helping the bank to deliver stronger profits so far this year than last. "The world will likely experience a two-speed recovery and emerging markets currently offer the brightest prospects for growth," said Michael Geoghegan, the chief executive of HSBC. "Indeed, it now seems clear that they will drive the global recovery." Mr Geoghegan is relocating to Hong Kong from London in February as the bank reduces lending in the US and focuses on faster-growth emerging markets including China, India and Brazil. Tata says search underway for successor Tata conglomerate is looking around the world for a successor to Ratan Tata, the 71-year old chairman of the salt-to-steel group he said in an interview with the Wall Street Journal published on Wednesday. Local and foreign candidates were being considered to head the group, which includes Tata Motors, Tata Steel, Tata Consultancy Services and Tata Power among its 27 listed companies. "It would certainly be easier if that candidate were an Indian national. But now that 65% of our revenues come from overseas, it could also be an expatriate sitting in that position with justification now," Tata said. http://www.ukibc.com/news_and_media/news/18112009.aspxWed, 18 Nov 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/18112009.aspx Hamish McRae: Watch out as India sprints ahead 20th May 2009 On present trends India will pass the UK in the size of its economy in about 10 years' time. The world's largest democracy may even do that a bit earlier if the elections just concluded enable further improvements in the way it is governed - as the financial markets now signal. India Tata says UK plant stake sale not going ahead 20th May 2009 India's Tata Steel will not sell a stake in its Teesside plant to Marcegaglia and Dongkuk Steel, who were part of a consortium that cancelled a major contract to buy the plant's output, a senior Tata group official said. No job in hand, students in US, UK head back home 20th May 2009 Last November, Abhimanyu Gupta, an MBA student in New York University's Stern School of Business, was on the top of the world when landed a job offer from Bank of America's investment banking division. This February he felt right at the bottom of the abyss as the bank withdrew the offer and Gupta's world cratered just like the global markets. Tata Motors readies JLR loan repayment plan 20th May 2009 Tata Motors has almost firmed up its funding plans to repay the approximately $2 billion short-term loan, the deadline for which is a couple of weeks away. India's third largest passenger carmaker is raising $840 million from the domestic market through non-convertible bonds and the balance $1.2 billion would be rolled over for two years. India to open its Mobile Fontiers with UK Innovation 19th May 2009 India is counting upon wireless broadband to bring the Internet to rural India and foster economic growth and opportunity for its people, according to Mr NK Goyal, President of the Communications & Manufacturing Association of India (CMAI). Legal & General to Form Joint Venture With Two Banks in India 19th May 2009 U.K.-based Legal & General Group plc said its Indian joint venture with Bank of Baroda and Andhra Bank will open for business early next year, subject to regulatory approval. India's emerging cities shaping the future 19th May 2009 A North West event to launch a landmark report by the UK India Business Council (UKIBC) will take place at the Reebok Stadium, Bolton next week. Only 3% of law firms in UK, US offshore back-office work to India 19th May 2009 Despite mounting cost pressures, only three per cent of law firms in the UK and the US have 'offshored' their back-office functions to Indian LPO (legal process outsourcing) vendors. ABB UK Selects Tata Consultancy Services for ERP Implementation and Support 19th May 2009 Tata Consultancy Services, the leading IT services, business solutions and outsourcing firm, announced today that it has carried out a successful SAP ERP consolidation for ABB UK, in order to reduce complexity, standardize business processes and systems and make better use of data. UK Govt. Ready To Guarantee Loans For Tatas' JLR Business 18th May 2009 The British government said it was ready to guarantee loans to Indian conglomerate Tata group-owned Jaguar Land Rover, for which it was holding discussions with European banks on the behalf of the cash-strapped carmaker, media reports said. UK's Vitabiotics to expand presence in India 18th May 2009 UK-based Vitabiotics plans to expand its presence in India by setting up manufacturing and research facilities. The $385 million firm has already identified and started construction of a plant in Karnataka. UK India Business council welcomes India's poll verdict 18th May 2009 The UK India Business Council today congratulated the Congress-led UPA government for emerging as the largest group in the Indian election, saying it would help India t http://www.ukibc.com/news_and_media/news/20052009.aspxWed, 20 May 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/20052009.aspx Exploring business opportunities in India 21st April 2009 A delegation of business leaders from India joined the British Deputy High Commissioner for Mumbai, Vicki Treadell, in Manchester to assess the North West's business opportunities. M&A loses sheen in Q1 CY'09; no of deals falls to 4-year low 20th April 2009 NEW DELHI: The merger and acquisition deals in the first three months of 2009 are hit amid the economic slump with their valuations and the number declining compared to that in the previous year. Marks & Spencer joins with Reliance to open 50 stores in India 20th April 2009 The retailer Marks & Spencer will open 50 stores in India over the next five years through a joint venture with Reliance Industries, the sub-continent's largest company. Marks and Spencer to source 70% of products from India: Ashman 19th April 2009 Mumbai: British retailer Marks and Spencer Group Plc. (M&S) plans to source 70% of its products from India in the next five years, its India chief executive officer Mark Ashman said. http://www.ukibc.com/news_and_media/news/22042009.aspxWed, 22 Apr 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/22042009.aspxThis weekend, India will join the top table of another international sport: Formula One. The roar of the 'Indian tiger' will resonate across the world through the sound of F1 cars taking on the challenge of the new Buddh International Circuit. It is fitting that modern India should produce one of the fastest F1 tracks on the planet. India can be rightfully proud of this achievement. F1 finds a natural home in India. Of all sports, F1 stands out for its glitz, its noise, its adrenaline rush and its ability to make the seemingly impossible a reality. I see these characteristics daily in my dealings with today's India. Perhaps this is why F1 has captured the imagination of Indians so quickly. Some 25 million viewers are expected to tune in on Sunday to watch the Grand Prix, an amazing figure for a sport that is relatively new to this country... ( Read more ) http://www.ukibc.com/news_and_media/news/formula_oneuk_261011.aspxWed, 26 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/formula_oneuk_261011.aspx GE Energy Financial Services is investing USD 50 million in the wind energy business of renewable energy company Greenko, endorsing the strategy of the AIMS-listed company and expand the entry point for GE to enter the wind farm business in India. Greenko, a Euro 44 million company, is building a de-risked portfolio of wind, hydro electric, natural gas and biomass assets in India. The company will hive off the wind business into a wind holding company, Greenko Wind Project, to be a subsidiary of the main company. Earlier this year, Greenko raised USD 80 million from its existing shareholders to grow the wind business. Greenko has plans to expand its wind energy business to initially 500 MW, and then to 1000 MW over the next few years, and is developing wind farms across AP, Maharashtra and other states. GE Energy Financial Services, a subsidiary of GE, is investing in two tranches of US$25 million for equity shares and US$25 million for convertible preference shares in GWPP, with an option to participate in case of any IPO the company may make. http://www.ukibc.com/news_and_media/news/getoinvest.aspxWed, 12 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/getoinvest.aspx Later this year, a rogue cell within the CIA and a precocious young Belgian detective and his little white dog will make their way to India before they land in the US. Blockbuster films featuring Ethan Hunt - Tom Cruise alter-ego and accomplisher of missions otherwise deemed impossible -and Tintin - boy wonder, case solver and lover of hair gel - will open in India prior to their US debuts… "In the last two, three, four years, India has demonstrated that it's a fairly robust and growing market for US and UK movies," Jehil Thakkar, head of entertainment and media at KPMG, told BeyondBRICS. Action films and big-budget movies tend to do better than comedies, for example, because they are less dependent on dialogue... ( Read more ) http://www.ukibc.com/news_and_media/news/hollywood_india_061011.aspxThu, 06 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/hollywood_india_061011.aspx Normal 0 0 1 71 408 3 1 501 11.1287 0 0 0 Just as young Americans were encouraged to abandon eastern seaboard cities to farm the fertile plains of the west in the 19th century, entrepreneurial Indians are today seeking their fortunes in India's rural economy. Uday Kotak, the managing director of the Kotak Mahindra banking group, told beyondbrics that he has recently advised his Mumbai-based head of global securities to take up a new challenge in one of the fastest growing areas of the bank's business, rural finance... ( Read more ) http://www.ukibc.com/news_and_media/news/india_gowest_271011.aspxThu, 27 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/india_gowest_271011.aspxThe third session of the ongoing workshop on employment opportunity and requirement in IT industry being held at Iswar Saran Degree College was addressed by Dr Narendra Shukla of JK Institute, Allahabad University on Monday. Read more here Discuss here http://www.ukibc.com/news_and_media/news/it_employment.aspxTue, 07 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/it_employment.aspx MUMBAI: Tata Motors-owned British marquee Jaguar Land Rover is revving up to assemble two more models in India, which will increase its competitiveness in the fast-growing domestic luxury automotive market. JLR is looking to roll out locally-assembled Jaguar XF sedan and Range Rover Evoque SUV within 12-18 months, a vendor familiar with the matter told ET. The company's India spokesperson declined to comment…( Read more ) http://www.ukibc.com/news_and_media/news/jlr_inindia_181011.aspxTue, 18 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/jlr_inindia_181011.aspx LONDON: The Lord Mayor of London will be in India on a five-day visit from October 10 to strengthen economic ties between India and the UK. The Lord Mayor Michael Bear will be leading a business delegation and visit Delhi, Mumbai and Kolkata. The aim of the visit is to promote business opportunities for the UK-based financial and professional services industry, and to further strengthen economic links between the UK and India... ( Read more ) http://www.ukibc.com/news_and_media/news/lordmayor_071011.aspxFri, 07 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/lordmayor_071011.aspx A day after the government unveiled the new telecom policy allowing users to avail free roaming services across the country, telecom stocks rose by up to 3% on Tuesday on the Bombay Stock Exchange (BSE), as operators welcomed the government's move. Shares of India's largest private telecom firm Bharti Airtel surged by 3% to Rs 375. Similarly, Idea Cellular rose by 3% to R95 and Reliance Communications was up by 0.5% to Rs 74, while Mahanagar Telephone Nigam ended flat at Rs 31. The benchmark Sensex closed down 20 points to 16,537. "There are three main triggers from the NTP-2011," said Mritunjay Kapur, country managing director, Protiviti Consulting. "Firstly, it talks about spectrum re-farming, which could lead to higher spectrum allocation. Secondly, the draft policy also points out that consolidation is inevitable." http://www.ukibc.com/news_and_media/news/telecomeshares.aspxTue, 11 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/telecomeshares.aspx One of the biggest costs in a data centre is power cost. Power is needed to fire the servers and storage systems. And since these systems heat up, power is again required to cool the systems with air conditioning. In the dot-com era, data centres consumed 1 or 2 MW. Now it's common to find facilities that require 20 MW, and already some of them expect to use ten times as much in the years to come. For countries, data centre power consumption is expected to put an enormous burden on their power grids… ( Read more ) http://www.ukibc.com/news_and_media/news/111101_ibm_solar.aspxTue, 01 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111101_ibm_solar.aspx Cairn digs deep in India for £29m profit OIL and gas explorer Cairn Energy today unveiled an operating profit for 2008 as it confirmed that a major Indian development is on track. The Edinburgh-based firm, headed by former Scotland rugby international Sir Bill Gammell, said it achieved a £29.8 million operating profit in 2008, compared to a £53.2m loss in 2007. Infosys, Cognizant buck trend; move up in global 3000 list Chennai: On January 1, 2008, when the US credit crisis was making its impact felt, top Indian tech companies such as Tata Consultancy Services Infosys (TCS), Infosys, Wipro HCL Tech and Cognizant were a part of the elite list for the 3,000 top global companies headed by firms such as Exxon Mobil, Petrochina, Wal-Mart, P&G and Microsoft, based on their market capitalisation. Fifteen months later when the financial world has seen many big names cease to exist and stock prices fall - two Indian tech companies have managed to move up the pecking order while other Indian tech firms have fallen by the wayside, according to Bloomberg data collated by Edelweiss Research. Cos get nod to hedge carbon credits, freight deals abroad New Delhi: The Reserve Bank of India (RBI) has allowed Indian companies to hedge carbon credits and freight contracts on overseas exchanges, a move that will help them cope with the intense volatility in global markets. With this, carbon credits and freight have been recognised as commodities by the RBI, and will join the ranks of metals, bullion, energy and agricultural produce, which are already permitted to be hedged abroad Indian banker to contest election The head of ABN Amro in India has this month become one of the country's first bankers and one of the few professionals to stand for election to India's lower house of parliament, the Lok Sabha, by contesting the seat for South Mumbai. India's economy 'more durable' than China Democracies have a far better chance of sustaining economic reform than one party states Manmohan Singh, India's prime minister, has told the Financial Times in a rare top-level assertion of his country's stance over neighbouring China. UKIBC-HSBC NRI trend SURVEY The UK India Business Council and HSBC are currently undertaking research into Non Resident Indian (NRI) Communities in the US, UK and Singapore. We would be very grateful if you would take a few minutes to participate in the survey by following the link below. To participate in the research, please, click here It is intended that the research will provide an important snapshot of the global professional NRI community, their attitudes and ambitions, with particular reference to the India opportunity and the global economic downturn. The research will be published at the beginning of June. Meaningful results require as large a sample size as possible. Therefore, we urge you to complete the survey - you get out what you put in! We look forward to receiving your completed questionnaire and hope that you will find the final report of benefit. http://www.ukibc.com/news_and_media/news/01042009.aspxWed, 01 Apr 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/01042009.aspx Indian state chief killed in helicopter crash HYDERABAD, India, Sept 3 - One of India's leading political kingmakers was killed in a helicopter crash, an official said on Thursday, potentially weakening the ruling Congress party in a key southern state. Yedugiri Sandinti Rajasekhara Reddy, chief minister of Andhra Pradesh state, helped engineer the Congress party-led coalition's victory in a general election in May. His state is home to many IT firms and outsourcing businesses, important elements of India's growing and globalising economy. India's growth set to lift emissions fourfold India's greenhouse gas emissions are set to at least quadruple over the next 20 years as its economy expands, according to official estimates on Wednesday. But India defied international pressure to curb emissions by stressing that its greenhouse gas output would when measured per capita stay below that of developed countries. http://www.ukibc.com/news_and_media/news/03092009.aspxThu, 03 Sep 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/03092009.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/news/03_06_2010.aspxThu, 03 Jun 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/03_06_2010.aspx NEW DELHI: DLF Foundation, the corporate social responsibility arm of the country's largest realty firm DLF, today said that it will invest Rs 200 crore to establish 250 centres for skill training of one million unemployed youth... ( Read More ) http://www.ukibc.com/news_and_media/news/041011-dflfoundation.aspxTue, 04 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/041011-dflfoundation.aspx Indian exports sink for ninth straight month India's exports fell for the ninth month in a row in June strengthening the likelihood of new state assistance, but in China domestic demand pushed the purchasing managers' index to rise at its fastest rate since 2008.India's exports fell almost 28 per cent to $12.8bn in June compared with the previous year, the government said on Monday, marking only a marginal improvement in performance from previous months. Imports likewise dropped, falling 29.3 per cent to $18.98 billion in June. Tata Motors in Loan Talks With State Bank of India, Mint Says Aug. 5 (Bloomberg) -- Tata Motors Ltd. is in talks with State Bank of India to secure a counter guarantee for a loan it's seeking for its Jaguar and Land Rover unit, the Mint reported, citing two people familiar with the development. Citigroup Inc. and Standard Chartered Plc have approved a loan to Tata Motors on the condition that it gets a guarantee from the U.K. government, the newspaper reported, without giving the size of the loan. Indian IT sector hits out at Europe India's fast-growing information technology outsourcing sector has hit out at the red tape of the consular regimes of many European Union countries, saying that they form formidable protectionist barriers against services exports to the trading bloc. A survey by the Federation of Indian Chambers of Commerce and Industry, published on Monday, lambasted the difficulties of gaining work permits for IT professionals, their spouses, and the often unreasonably short duration of visas. It said visas often restricted workers to one country, or even one city, thereby hindering Indian companies from reaping economies of scale by doing bulk work for multiple countries. India opens door to foreign universities India plans to open its higher education sector to foreign investment and some of the world's leading universities next year to help meet the growing skills requirements of millions of its young people. Kapil Sibal, minister of human resources development, said he aimed to have legislation in place to allow top universities such as Harvard, Stanford and Yale to enter the country by next July. Power exchanges generate Rs 3,150 cr in first-year ops The two power exchanges in the country, created to facilitate trading of electricity in an open market, have recorded total business worth Rs 3,150 crore in the first year of operations. The Indian Energy Exchange(IEX), promoted jointly by Financial Technologies-that also operates commodity exchange MCX and power trading firm PTC-generated trading revenues of Rs 3,000 crore since its launch in June 2008. Power Exchange India Ltd (PXIL) backed by NSE, the largest stock exchange in the country, recorded trades worth Rs 150 crore since its launch in October 2008. It's raining PSU funds The government's plan to divest its stake in public sector undertakings (PSUs) is encouraging fund houses to launch PSU funds. Some mutual funds have already launched and some others are in the process of launching PSU-dedicated schemes. Whitehall warms to benefits of offshoring After years of resistance to offshoring, the need to cut billions of pounds from public spending could see Whitehall looking to send IT work abroad. While offshoring is commonplace in the private sector, the public sector has so far shied away from the practice - in part due to wariness of a backlash against sending jobs overseas - even though its supporters insist it can significantly reduce the cost of IT projects. UKIBC Chair Patricia Hewitt on BBC World Please Click Here for Video Link Patricia Hewitt was the longest-serving Secretary of State for Trade and Industry since the 1950s and previously served in the same department ... UKIBC Chair Patricia Hewitt on NDTV Please Click Here for Video Link Road to recovery Patricia Hewitt, chairperson of UKIBC, on investing opportunities in emerging countries. ... The Big Interview Patricia Hewitt Road to Recovery NDTV Profit India ... "High Tea and Hot Topics" an informal networking and brainstorming session (in partnership with Pappadums Restaurant) On Friday 14th of August 2009 5.00pm to 7.30pm at UK India Business Council Office Please RSVP Carolina Ribera at Carolina.Ribera@ukibc.com UKIBC Delegation to Delhi, Nagpur & Mumbai September 14-18 (Delhi, Nagpur, Mumbai) UKIBC is taking a delegation to Delhi, Nagpur and Mumbai as part of its Emerging Cities Roadshow. The delegation will visit Nagpur, one of the nine cities identified in the Opportunities for UK PLC in Emerging Cities of India report to explore business opportuntities and alaos attend the UKTI awards in Mumbai. For more information, RSVP Louisa.Campbell@ukibc.com http://www.ukibc.com/news_and_media/news/05082009.aspxWed, 05 Aug 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/05082009.aspx MUMBAI: India's diversified Essar Group, with businesses ranging from shipping to power, is considering listing its infrastructure assets in London to raise about $750 million. JPMorgan Chase & Co and Credit Suisse Group AG are working with Essar on the possible initial public offering (IPO), which may take place as early as next year… ( Read more ) http://www.ukibc.com/news_and_media/news/051011-essar.aspxWed, 05 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/051011-essar.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/news/07_-6_2010.aspxMon, 07 Jun 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/07_-6_2010.aspx M&A sees revival as India finds 'sweet spot' When Reliance Industries, India's largest private sector company, raised Rs31.9bn ($683m) in a share placement last month, a murmur ran through the market. Perhaps the oil and petrochemical group, controlled by India's richest man, Mukesh Ambani, was girding itself for a global acquisition? Jaguar Land Rover gets £175m loan Jaguar Land Rover has secured further funding worth £175m in the form of a loan from the State Bank of India, the carmaker has said. The firm is struggling against falling sales during the downturn and has been looking at a number of refinancing packages in recent months. Essar CEO Considers Selling Unit Stakes in Expansion Oct. 8 (Bloomberg) -- Essar Group, which runs India's second-largest private refiner, may sell stakes in its oil and shipping units as part of a global expansion plan, said Prashant Ruia, the group's chief executive officer By 2011, RBS aims to save around $4 billion in operational costs by outsourcing non-core IT activities UK-based Royal Bank of Scotland is expected to outsource around $2 billion worth of back office and application development projects to the Indian outsourcers, including TCS and Infosys, reported THE ECONOMIC TIMES. By 2011, RBS aims to save around $4 billion in operational costs by outsourcing non-core IT activities and plans to focus more on marketing initiatives, reported the newspaper, citing Stephen Hester, chief executive of RBS. UKIBC in the news TELEGRAPH Trade month: how UK shoe retailer Pavers has made a success of India India presents huge opportunities for UK companies, but a local partner can make life a lot easier. BUILDING REVIEW 'India is on the move' And the good news is that UK companies are uniquely placed to capitalise on the South Asian powerhouse's £344bn infrastructure boom - as an increasing number of firms are discovering GUARDIAN Two million slum children die as India booms India's growing status as an economic superpower is masking a failure to stem a shocking rate of infant deaths among its poorest people. Nearly two million children under five die every year in India - one every 15 seconds - the highest number anywhere in the world. More than half die in the month after birth and 400,000 in their first 24 hours. http://www.ukibc.com/news_and_media/news/08102009.aspxThu, 08 Oct 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/08102009.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/news/10-02-2010-nextgen.aspxWed, 10 Feb 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/10-02-2010-nextgen.aspxChennai/ Bengaluru: Actis, the global private equity (PE) fund plans to invest a total of US$ 500 million in India during 2010. The fund has already invested US$ 228 million in three deals. Read more http://www.ukibc.com/news_and_media/news/101020-actispe.aspxWed, 20 Oct 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/101020-actispe.aspx New Delhi: The information and broadcasting ministry endorsed the recommendation by the Telecom Regulatory Authority of India (Trai) to enhance foreign direct investment (FDI) ceiling for direct to home TV, Internet protocol TV and teleport from 49% to 74%. However, it rejected recommendation to reduce the FDI ceiling for local cable operators from 49% to 26%, arguing that the limit had been 49% since 1995. "The nature of control as per the provisions of the Company Law would also not undergo any change since the power to initiate a special resolution remains the same at 26% or at 49%. The ministry is of the view that not much purpose would be served by reducing the FDI limit and, therefore, 49% FDI may be retained for the LCOs," the ministry said in its draft note, which has now been sent back to Trai for consideration. Read the full article on The Economic Times's website. http://www.ukibc.com/news_and_media/news/110524-ibministryokaywith74pcfdiceiling.aspxTue, 24 May 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110524-ibministryokaywith74pcfdiceiling.aspx Telecom minister Kapil Sibal says the days when telecom companies made government policy are gone, though he is willing to work with them. He, however, struck a conciliatory note in case of the Tata-VSNL land deal, insisting that he had no reason to doubt that the Tatas want to part with the surplus VSNL land. He spoke to ET NOW on the future of the troubled sector. Read the interview highlights on Economic Times' website http://www.ukibc.com/news_and_media/news/110525telecomcompanieswillnolongerinfluencepolicy.aspxWed, 25 May 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110525telecomcompanieswillnolongerinfluencepolicy.aspx By Richard Heald Much comment has been given to the recent elections in West Bengal, Tamil Nadu, Kerala and Assam. Interesting though these are, in India, the focus now is on how the government can leverage these to restart their agenda, particularly in the forthcoming period, until the middle of June. India's economy grew by just 7.8 per cent in the fourth quarter ending March this year - giving rise to fears of a slowdown in the economy. This decline is mainly due to poor performance of the manufacturing sector and compares to 9.4 per cent growth in the same three-month period of the previous fiscal. However, economic growth, as measured by the Gross Domestic Product (GDP), improved to 8.5 per cent in 2010-11 from 8 per cent in 2009-10 due to better farm output, construction activities and financial services performance. While, India's economy is still posting relatively robust growth, second only to neighbouring China's among major economies, and its domestic demand continues to grow on the back of rising income, economists and government officials have recently revised downward their expectations for the GDP in the current financial year. The reasons cited for this include rising crude oil and other commodity prices, and doubts about economic recovery in developed nations. As such, the political will and hence, the economy needs a new impetus. There is a general assumption that the election results have given the UPA coalition and the Congress Party the opportunity to introduce measures to stimulate the economy, ink the EU - India FTA and address key issues such as infrastructure, retail and services. At the same time, there is a wide spread expectation that the PM will use this period to re-shuffle the Cabinet in a more decisive fashion than in January of this year. Plus he also has to replace six secretaries of key ministries in June, including the all-important Cabinet Secretary and Finance Secretary. The aggressiveness with which he moves will define the coalition UPA Government's remaining tenure. But will he? The precedent is not good. Moreover, the Congress Party was not a clear winner in the recent election round. Mamata Banerjee's win in West Bengal has strengthened the Coalition but not necessarily the Congress. The Congress has not benefitted from the ejection of the scandal hit DMK in Tamil Nadu unless the Congress can form a new alliance with the victorious AIADMK. In Kerala, the Congress won a small majority but this is scant reward to the significant commitment made by the Party in the State. And in Assam, the win was due to the popularity and efficiency of the State Chief Minister rather than a vote of confidence in the Centre. Finally, there is an increasing danger that Congress's focus will start to slip to next year's elections in Uttar Pradesh which have already started for all practical purposes. Prime Minister Manmohan Singh will have until mid-June to make his announcement - before the Monsoon Session of Parliament commences. The most persuasive argument for him being bold is that he will wish to protect his legacy as the Finance Minister who heralded in the new era of Indian prosperity and who then presided over its consolidation as Prime Minister. But do these domestic arguments matter to UK business? The answer is "yes". Interest from overseas companies is predicated on measures to ensure continuation of a vibrant internal economy and as well as a further relaxation in certain FDI limits. This period gives the UPA government an opportunity to make announcements on the outstanding issues concerning Vodafone, Cairn-Vedanta and Reliance-BP; any one of which will have a significant impact on the international perception of India as a business friendly environment. India remains a land of opportunity. India's continued rise is inexorable. It is the rate of growth which can be accelerated by further liberalisation but as was told to me just yesterday, "we Indians never fix the roof when the sun is shining". Perhaps the current headwinds will just prove the catalyst for inspired decision making. Back to UKIBC newsletter, May 2011 http://www.ukibc.com/news_and_media/news/110531-maynewsletterindiaelectionsandbeyond.aspxTue, 31 May 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110531-maynewsletterindiaelectionsandbeyond.aspx NEW DELHI: A special Central Bureau of Investigation (CBI) court on Monday dismissed the bail plea of former Commonwealth Games Organising Committee (OC) chief Suresh Kalmadi and co-accused ASV Prasad in a corruption case related to the mega sporting event. Special judge Talwant Singh, while hearing Kalmadi's bail application, said allegations against him were of serious nature, and "he has caused loss to the government of India". Read the full article on Economic Times' website http://www.ukibc.com/news_and_media/news/110607-cwgcase-kalmadibaildismissed.aspxTue, 07 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110607-cwgcase-kalmadibaildismissed.aspx KOLKATA: The public cloud computing market in India is estimated to touch Rs 2,434 crore by 2014 after growing at a CAGR of 53% between 2010-2014 according to market intelligence and advisory firm CyberMedia Research's India. The overall Indian software as service market is expected to touch Rs 465 crore by end 2011, a growth of 50 per cent over 2010. CyberMedia Research's India Cloud Computing Market Review 2011, a survey of 'users' and 'non-users' of cloud computing showed that penetration amongst Indian enterprises was 4% in 2010. This is expected to rise to 6.8% for all large and mid-size enterprises in the country by 2012. Read the full article on Economic Times' website http://www.ukibc.com/news_and_media/news/110608-publiccloudcomputingtors2434cr.aspxWed, 08 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110608-publiccloudcomputingtors2434cr.aspx The second round of a UK-Indian research partnership is being launched in order to foster innovation and business within the two countries. The £5 million a year UK India Research and Education Initiative (UKIERI) deal has been agreed for 5 years and will focus of 4 key strands: Leadership, Innovation, Skills and mobility. "This is such an important initiative and is unique around the world," said the British Council's India Director, Roy Lynes, "as it brings together so many different institutions in both countries to work together. It delivers benefits that will improve our education systems, will build lasting relationships and through those partnerships tackle global challenges. We are proud to be part of such a significant programme" The UK and Indian governments are also anticipating that business will invest in UKIERI; Tata Consultancy Services have agreed to sponsor 30 'fellows', where UK students will have the opportunity to work at Tata in India this summer before coming back to share their experience in UK secondary schools. Read the full article on International Trade's website http://www.ukibc.com/news_and_media/news/110614-uk-india-ukp25mresearchpship.aspxTue, 14 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110614-uk-india-ukp25mresearchpship.aspx Press Release London: 23 June 2011 Infrastructure companies across the UK are being urged to sign up to a brand new service to boost their export success to India - a country investing £600 billion in the sector. The new service launches on 1 July, is being offered by the UK India Business Council (UKIBC), the business led organization backed by UK Trade & Investment (UKTI) to boost UK India bilateral trade. This service is targeted at companies, especially SMEs looking to enter India or are new to India. For a fee of just £35 per month, UKIBC will provide intelligence, events, reports, and create "communities" linking large and small companies around opportunities presented by India's planned £600 billion investment in infrastructure, from roads and ports to water and urban transport projects. Included are frequent news updates on transactions, government announcements and press reports; a quarterly infrastructure sector report, featuring market trends, case studies of UK companies succeeding in India, profiles of leading Indian businesses and business opportunities. Sector members will also get exclusive access to online B2B hub where they can connect with Indian and UK businesses. Business Opportunities Members will have access to UKIBC infrastructure events including an urban regeneration seminar and panel discussion in London focusing on the opportunities in the water and urban transport sectors with participation from some of the UK's leading engineering consultants and business advisors, with whom they can network. There will be further networking opportunities with visiting Indian delegations and access to an online business forum for UK and Indian companies. UKIBC also plans to take a delegation to India later in the year to explore the opportunities for SMEs with niche expertise in aspects of urban regeneration. UK India Business Council CEO Richard Heald says, "I urge infrastructure companies to focus on the huge opportunities existing in fast growing economies like India. Not only is India the tenth largest economy in the world and the fourth largest by purchasing power parity, but industrial growth is picking up, offering many UK firms the chance to export their way out of the downturn here. "The UKIBC's new sector subscription service can be a catalyst to helping our companies form partnerships with Indian business and Government. This can seem like a huge leap but businesses big and small around the world are finding fantastic opportunities in India every single day." UKIBC Corporate members are companies which are already established in India and play an active role in the UK-India business agenda. The Sector Members will be companies which are exploring the Indian market and can benefit from information and access to businesses successfully doing business in India. Infrastructure growth India's rapidly expanding cities put huge demands on all aspects of infrastructure. The country's urban population is expected to reach 590 million by 2030. Services such as water supply, sewerage, solid waste management and urban transportation are expected to benefit from the biggest investment after roads. The UK has learnt from the revitalisation of our aging inner cities and has a global reputation as a source of world-class expertise and capability in the design and construction of infrastructure. Given the demands that rapid urbanisation places on infrastructure, this embedded knowledge can usefully be shared, particularly with India's expanding Tier II & Tier III cities. Many UK companies are already actively involved in building India's urban infrastructure such as Arup, Benoy, Mott MacDonald, Halcrow and John McAslan, to name a few. Emerging opportunities An urban regeneration panel discussion will be held on 14 July at the offices of Herbert Smith in London. Speakers will include some of the UK's leading civil engineers and business advisors, with firsthand experience of working in India, who will share valuable insights and practical tips. The water sector has many challenges (as detailed in a recent PwC report "Bringing water to your doorstep - Urban Water Reforms for the next decade") but there are opportunities for SMEs, particularly for companies with niche products and services. For example, Tantia Constructions Ltd, a Kolkata Based company, is seeking alliances with companies in the water and sewerage sectors who have experience of turnkey installations for medium to large scale treatment plants, and with a range of technologies to offer. The UK has the strength across sectors and, combined with its low carbon construction expertise, can bring the knowhow, technology and business models necessary to achieve sustainable development. The business challenge Despite the UK being the largest recipient of Indian inward investment into Europe, the UK's share of exports to the Indian market has fallen overall in the last five years. UKIBC believes that the new service will help UK companies export their way out of the current downturn. UKIBC programme: British India Roads Group (BIRG) powers forward Following the successful BIRG / National Highways Authority of India (NHAI) workshop in New Delhi and the signing of the roads agreement between the two governments for greater collaboration in the road sector, BIRG is keen to meet Dr C P Joshi, Minister of Road Transport and Highway (MoRTH) at the earliest opportunity. Senior Ministry and NHAI officials have previously expressed an interest in the role of the independent operator and how roads are procured in the UK, so the focus will be on these areas. BIRG has had very positive discussions with MoRTH and NHAI officials over the last eighteen months on how the National Highways Development Programme could attract greater participation from UK infrastructure companies and financial institutions. Not only has the dialogue gone in the right direction, it has also brought UK and Indian business leaders together and closer to decision makers. A reported business opportunity Vedanta mines rich seam of India links London-listed mining firm Vedanta has acquired an 11% stake from Petronas International Corporation via the bulk deal route. On April 19, 2011, the Indian listed arm of Vedanta - Sesa Goa - purchased 200 million equity shares (or about 10.47%) at a price of INR 331 each. In August 2010, Vedanta had struck a deal with UK-based Cairn Energy to acquire a 51% stake in domestically listed Cairn India at INR 405 per share including a non-compete fee of INR 50 per share. As per that deal, Cairn Energy, which holds 62% in Cairn India, will sell 51% to THL Aluminium, a wholly owned subsidiary of Vedanta, while another 20% will be bought through an open offer. Sesa Goa will make the open offer, costing USD 3 bn, at INR 355 per share. Cairn Energy will have a residual interest in Cairn India of 10.6 - 21.6%. Notes for Editors: UK India Business Council is the premier business-led organisation promoting bilateral trade and investment between the two countries. Our mission is to facilitate an increase in trade between the UK and India through business to business dialogue. It is backed by the UK government through UKTI (the government's trade and investment arm) to ensure that the business voice is heard by governments of both countries. http://www.ukibc.com/ Media Enquiries: For further information please contact Alan Wheeler + 44 20 8579 6349 & alanwheele@aol.com or Ishara Callan at the UKIBC + 44 207 592 3045 & ishara.callan@ukibc.com http://www.ukibc.com/news_and_media/news/110623-service-helps-infrastructucture-export.aspxThu, 23 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110623-service-helps-infrastructucture-export.aspx Mumbai: Low-cost carrier, IndiGo, has signed a $16-billion dollar deal with Airbus to acquire 180 single-aisle aircraft. The firming-up of the order for 150 A320neo and 30 A320 planes follows the memorandum of understanding the carrier had signed with the European aircraft manufacturer in January. The order makes IndiGo one of the A320neo-launch customers. Engine selection will be announced by the airline at a later date. The planes will be delivered from 2015 onwards. Today's order for 180 planes is on top of a firm order for 100 A320s placed in June 2005. Of that, 44 planes have already been delivered. The remaining 66 will be delivered by 2015. Last week, Wadia group-promoted GoAir said it was buying 72 A320neo planes. IndiGo will focus on serving domestic and regional market and has no plans to launch flights to Europe, Africa or other long-haul sectors. "All successful low-cost airlines such as South West or Jet Blue operate with single-aircraft type,'' IndiGo president Aditya Ghosh said. The airline will finance the acquisition through a combination of debt and sale and lease back options. All the 180 planes will be delivered by 2024. The airline expects to receive 12-15 planes each year. Ghosh said it was, too, early to comment on the airline's fleet size by 2024. A chunk of the planes ordered today will replace the ones which the airline is operating now. Read the full article on Business Standards' website http://www.ukibc.com/news_and_media/news/110627-indigo-signs-16bn-a320neo-a320.aspxMon, 27 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110627-indigo-signs-16bn-a320neo-a320.aspx Alpesh Patel - author, entrepreneur and commentator - shares his views and experiences on entrepreneurship with UK India Business Council. He will speaking on the subject at July 6th event at Clifford Chance. Do British entrepreneurs see India as an attractive investment destination? They do, but the problem is not that - after all I get 15 'India' alerts via the FT each day, you would be a bafoon on Mars not to know about the India opportunity. The bigger problem is how to access it. The key concerns are: Where to start? Costs? Due diligence - who to trust? How to do due diligence? Valuations of investment opportunities - the Indians know the world wants a slice and are pricing accordingly So the key issue is: how do you address these problems - I'll say more at the event in terms of when we have invested, how we invested, which investments to walk away from and when, and how to tell if someone is lying - where I would and would not invest, how to save costs. What incentives would help more British entrepreneurs enter the Indian market? Information and some way of collectively sharing information in a depository. I believe UKIBC are about to launch exactly this. Knowing who to speak to for what. Eg. Angel investments - I know who I should speak to. Legals - I know who to go to. Bangalore - I know who. So for every sector and every region you should have a 'go to' person. I'll explain and introduce you to some of mine for this. Also you need a fixer. Someone who is a catch all and can make the important calls. What main ingredients are required to make an entrepreneurial eco system sustainable? Capital, entrepreneur and innovator all need to be interacting and in close proximity. Any of these missing and you will never commercialise. But as the Chinese say, 'man waiting with open mouth for Peking Duck to fly in, wait a long time' in other words what to do when C-E-I are not in your lap like in Silicon Valley? You put it together yourself with your rolodex. How? Who? I'll explain more at the talk. What are the main barriers faced by Indian entrepreneurs looking to do business with Britain? Tata made £1bl+ in their UK venture. So you could argue it is more perception and attitude that is the barrier. The main obstacle I am told is not knowing who to turn to. So you need a few well connected mentors who know it all. So where do you find them? How important is innovation for entrepreneurship? Could you give us an example here? You can make money being a copycat sometimes and that in itself can be innovative. You could look to see what US VCs are funding in the US and replicate in India on the basis they'll buy you when they look at India. But it is better to create your own IP. The main problem in my experience is people are in a rush with a solution looking for a problem. A degree in psychology is what's needed. What genuine problems are you solving and can you create IP. So I'll talk about where to find ideas and how to evaluate them in the Indian context. Back to UKIBC newsletter, June/July 2011 http://www.ukibc.com/news_and_media/news/110628-interview-alpesh-patel.aspxMon, 27 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110628-interview-alpesh-patel.aspx UKIBC, in partnership with KPMG, concluded the first phase of its four city 'India Imperative road-show' with a couple of very successful seminars in Leeds and Birmingham on the 22nd and 23rd of June. The seminars follow a joint report titled 'The India Imperative' published and launched at the UKIBC Annual Summit in March. The next phase of the road-show will cover London and another city in the South East of England this Autumn. The Leeds and Birmingham events were attended by close to one hundred companies. The panellists comprised of experts from the areas of law, taxation, banking and international trade. John Fenton of HMG Paints Ltd, an 80 year old Manchester based paints company presented a highly compelling case-study of his company's joint venture in India. The joint-venture started in 2008 with Titan Paints based at Coimbatore in South India focusing on the domestic Indian market. The JV has been extremely successful and has grown at 80% per annum for the last three years. 'Within five years the JV will be as big as the parent company in the UK' said John. However despite its huge success, the entry into India for HMG has not been without its share of challenges and a definite learning curve that the management team had to go through. John stressed on the importance of relationship building and hierarchy, and concluded by saying that 'behind all the chaos, humidity, heat and noise, India is the most energetic, dynamic and entrepreneurial country anywhere in the world. It's a fantastic place to be in, so just get out there!' Responding to the question about corruption, John acknowledged that while there is corruption, the privatesector in India is extremely vibrant market and big enough for business to prosper without getting involved in corruption. Ian Gomes from KPMG further advised UK companies to be totally upfront about their bribery policy and pointed that although refusing to pay facilitation fee will mean some delays, the end result can still successfully be achieved. On a question about visas, the panel agreed that despite all the efforts to increase bilateral trade and investment, the issue of getting business visas smoothly and in time presents a definite roadblock from Uk and India. Top tips provided by the expert panel included: Selecting the right partner - Ian Gomes of KPMG advised UK companies to carry out essential due diligence which should include not only financial checks but also background check on the partners, their political affiliations and the outcome of their past joint ventures, etc. Focus on high quality documentation - Amarjeet Singh of KPMG stressed the importance of having the right structure in place from the very start and having absolutely impeccable documentation to avoid pitfalls in the future. Involve senior management Use advice and services - The panellists pointed out that there is lot of advice available from organisations such as UKIBC and UKTI which companies should take advantage of. In addition, they should also try and get some expert legal and taxation advice from relevant firms. Don't be frightened - Parmjit Singh of Eversheds suggested that UK companies should not be frightened to take advantage of the opportunities offered by the Indian market. Back to UKIBC newsletter, June/July 2011 http://www.ukibc.com/news_and_media/news/110628-kpmg-india-imperative-success.aspxMon, 27 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110628-kpmg-india-imperative-success.aspx I am pleased to inform you that we have launched the UKIBC B2B hub ( hub.ukibc.com ) where UK and Indian companies will meet, interact, discuss and do business. The hub was created to meet the requests of our members for a facilities-rich B2B forum. Our online forum has kicked off with discussions on issues related to innovation and entrepreneurship. At our event at the KPMG offices last week, Indian businesses leaders including Rajan Mittal, Bharti Enterprises, and Naina Lal Kidwai, HSBC, discussed issues ranging from "price point in India" to "funding innovation". Meanwhile, UK experts shared their views on creating innovation clusters and linking universities with industry. This discussion is now online where participants are exchanging ideas. We will hold a series of events on the topics of innovation and entrepreneurship in the coming months. I hope you will attend them and also share your thoughts, experiences and ideas with other UK and India based companies at our B2B Hub ( hub.ukibc.com ). Looking forward to your feedback and participation. Yours sincerely, Richard Heald Chief Executive UK India Business Council Back to UKIBC newsletter, June/July 2011 http://www.ukibc.com/news_and_media/news/110628-ukibc-newsletter-foreword.aspxMon, 27 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110628-ukibc-newsletter-foreword.aspxMUMBAI: Clear Cell, a UK based firm, today commenced its operations in India from Vadodara. Formed in 2005, Clear Cell helps organisations drive better decision making and profitability through customer analysis. "Our Indian operation would act as a launch-pad to grow into the broader Asia-Pacific market. Growing rapidly and investing heavily in the region, we now intend to double the size of the business in this lucrative region in the next two years," said Peter Maloney, founder and CEO of Clear Cell. Through this move, Clear Cell has plans to connect global brands to the Asia pacific region consumers and communities. The company has clients across a number of sectors, including retail, financial services, media, telecoms and gaming and has grown to over 75 people globally across UK, Europe, Canada, the US and India. The company is looking to drive new successes for their core sectors in India and to mirror the successes for their clients in North America and Europe, using India as a launch pad to enter the broader Asia Pacific market. "The Indian operation is now moving to a wholly owned and managed subsidiary business after successfully using an initial flexible business model with Quick Start Global. Clear Cell aims to double the size of the Indian team in the next two years and recruit top talent to support their growth plans," said Pranab Mohapatra, Director, Clear Cell India and Head - centre of excellence informing about the Indian operations. Clear Cell also announced the launch of its unique Cloud Service the "Clear Cell Cloud", which provides customer insight services via a cloud based platform. "We're launching 'Clear Cell Cloud', which provides our clients with powerful and valuable customer insights on off-line and on-line behaviour. It allows Clear Cell's clients fast and easy access to a detailed understanding of their customers behaviour and drives increased sales and profitability through providing the means to make more informed business decisions," shared Brian McDaid - Chief Technology Officer, Clear Cell Group. Read the full article on Business Standard website http://www.ukibc.com/news_and_media/news/110815-clear-cell.aspxMon, 15 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110815-clear-cell.aspxThe Union government on Tuesday said the nation needs about 300,000 more professors, revealing the extent of faculty crunch in India's higher education system. The report prepared by the University Grants Commission (UGC) in association with vice-chancellors and educationists will help policymakers decide on a road map to tackle the issue. "The task force (committee) notes that more that 300,000 is the shortage of faculty in the system at present. It may be noted that the establishment of a reliable database itself is a major hurdle in addition with the issue of faculty shortage," the Ministry of Human Resource Development (MHRD) said in a statement on Tuesday. The report also says India needs about 100,000 more teachers per year in the coming decade for its colleges. The government recently informed Parliament it has allowed institutes to hire expatriate Indians to make up for any shortage in faculty. The elite Indian Institutes of Technology (IITs) and the National Institutes of Technology (NITs) face a faculty shortage of 30-35%. Central universities face at least a 30% shortage, the ministry said. The 15 IITs need 1693 more teaching staff immediately and the 20 NITs, 1522 more. "To tide over the faculty shortage, the IITs can appoint NRIs (non-resident Indians) and PIOs (persons of Indian origin) to permanent faculty position. However, foreign nationals (can be) appointed on contract basis for a fixed tenure of not exceeding five years," the ministry informed the Lok Sabha on 3 August. With the government planning to create more space for students in higher education and encourage private participation, the student-teacher gap will only increase if it's not addressed soon. Read the full article on Higher Education website http://www.ukibc.com/news_and_media/news/110816-india-needs-300000.aspxTue, 16 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110816-india-needs-300000.aspxNorth Coastal Andhra has become a growing industrial hub with a number of industrial houses choosing the place as a strategic location since it is almost equidistant from Chennai in the south and Kolkata in the north on the coast. The place is rich in mineral wealth, oil and natural gas, endowed with modern harbours, refineries, IT industries and educational institutions of repute. There are also steel plants, apparel and pharmaceutical cities and research laboratories. Many of the major industries have either come out with new creations or gone for expansion of capacity manifold. Here are some of the major activities of public and private sector organisations in the region: AP's biggest private integrated steel plant (Steel Exchange India Limited) Oil and Natural Gas Corporation (ONGC) - successful explorations Gangavaram Port, giving best of offers Visakh Refinery, growing by leaps and bounds (Hindustan Petroleum Corporation Ltd) GITAM University, a new seat of learning CUTM, a multi-sector varsity Redox Labs, new training ground Read the full article on The Hindu website http://www.ukibc.com/news_and_media/news/110816-north-coastal-andhra.aspxTue, 16 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110816-north-coastal-andhra.aspx NEW DELHI: A government panel has proposed migrating state and central value-added taxes (VAT) to a common information technology (IT) network to have a technological platform ready when the country introduces a common goods and services tax (GST). The empowered committee for IT for GST, led by Nandan Nilekani, has also proposed establishing a company that will develop and operate the IT infrastructure for GST. All the states and Union territories would have shareholding in the suggested firm. The proposal was discussed at a meeting last week between Nilekani and Sushil Modi, the newly elected chairman of the empowered committee of state finance ministers on GST. Modi is also Bihar's deputy chief minister. Modi will discuss the proposal at the next meeting of the finance ministers' panel, a Bihar government statement said on 3 August. The meeting is scheduled on 19 August. "Once the empowered committee approves a proposal, the company may come into operation in a year," Modi's office said in a statement. The nationwide GST aims to cut business costs and boost tax revenues. It has been delayed by two years. The federal government set up the committee of state finance ministers to smoothen passage of the new indirect tax regime. The IT platform will entail developing an online portal that will provide services related to registration, returns and payments, which would mean a common taxpayer identity, a common return, and a common receipt tax payment. Read the full article on Financial Tech Spotlight website http://www.ukibc.com/news_and_media/news/110816-vat-migrated-first.aspxTue, 16 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110816-vat-migrated-first.aspxNEW DELHI: A consortium of Welspun Infratech, Welspun Corporation and Leighton Welspun Contractors will be in direct contention with Adani Group firm Mundra Port and Special Economic Zone (MPSEZ) for a lucrative contract to develop the proposed Vizhinjam Port in Kerala. The project received initial bids from as many as 14 companies, out of which 12 bidders were asked to submit technical and financial bids. The state government of Kerala has decided to develop the Vizhinjam port under a Landlord Port Model. Under this model, the basic infrastructure requirements for the port and external connectivity (road and rail) will be developed by Vizhinjam International Seaport Limited -- a special purpose vehicle set up by the Kerala government to implement the port project -- through an engineering, procurement and construction (EPC) contract. The port operator, on the other hand, would construct the superstructure for port operations and the terminal and operate and maintain the same for a period of 30 years, an official statement said. On completion of technical evaluation under the two-stage tender, the financial bids of qualified companies shall be opened. Read the full article on Economic Times website http://www.ukibc.com/news_and_media/news/110817-welspun-adani-mpsez.aspxWed, 17 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110817-welspun-adani-mpsez.aspxHYDERABAD: Tata Motors Ltd today (17/8/2011) said that the company is evaluating the possibility of exporting its crossover Tata Aria to some select markets overseas. "The crossover meets all global standards and is ready for export. We have begun selling the crossover launched in October 2010 in Nepal and hope to follow this up by introducing in other markets," said Mr Rajesh Nair, Head-Product Group-Utility Vehicles, Passenger Car Business, Tata Motors Ltd. Launching its 4x2 Tata Aria in Andhra Pradesh today, Mr Nair said "the company is betting big on the festive season to increase sales volumes. The utility market had grown significantly last year (19 per cent) and has registered a growth of about 8 per cent during the current fiscal. We hope that the market would get better and these numbers would sustain during the year. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110818-tata-motors.aspxThu, 18 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110818-tata-motors.aspxMUMBAI: Even as serial rate hikes have made loans costlier, banks are competing for retail borrowers by reducing or eliminating processing fees, liberalising eligibility criteria and increasing the loan ceiling in select cases. Last week, India's largest private sector lender ICICI Bank kicked off a home loan scheme, offering fixed rates for the first one or two years. Meanwhile, State Bank of India, the country's biggest bank has quietly reduced its home loan rates by 25 basis points, and has dropped processing fees for home and auto loans. Leading lenders like Union Bank of India, Bank of Baroda, Indian Overseas Bank and Allahabad Bank have either started offering sops are exploring various options to attract retail borrowers. Following the Reserve Bank of India's latest policy rate hike, both SBI and ICICI had increased their base rates, or their minimum lending rates, by 50 bps each to 10%. Said a senior SBI official: "We have launched a discounted scheme for home loans and charge 10.5-11% for various categories. The market has been relatively dull for us, since property prices are too high." SBI has also cut auto loan processing fees by half, which is now down to 0.25% of the loan amount. Read the full article on Financial Express website http://www.ukibc.com/news_and_media/news/110822-banks-dish-out.aspxMon, 22 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110822-banks-dish-out.aspxNEW DELHI: The States have given 'in principle' nod for information technology (IT) infrastructure for Goods and Services Tax (GST) better known as GST Net. The IT infrastructure mainly involving the common portal is to be used for registration, payment and returns facility for the traders. For smooth rollout The States have also agreed to use Permanent Account Number (PAN) as common registration number for traders. This development is likely to facilitate the smooth roll-out of GST. This has happened at a time when the Centre and the States are still to arrive on a consensus to implement the GST. The Centre has proposed to implement the new indirect tax system from April 1, 2012. The Chairman, Empowered Group on IT Infrastructure on GST, Mr Nandan Nilekani said, "Even though GST may be some time away, creating an institutional arrangement will help the migration from VAT to GST. Tomorrow when all the States start using PAN as common registration number, this will bring all the tax agencies on the same platform." Maharashtra and 10 other States have started a pilot project for the new IT infrastructure and the results have been encouraging. Mr Nilekani also disclosed that a Special Purpose Vehicle (SPV) will be formed for the new IT infrastructure. After approval from the Union Cabinet, a Chief Executive Officer (CEO) will be appointed. Confirming the agreement on IT infrastructure, the Chairman, Empowered Committee of State Finance Ministers, Mr Sushil Kumar Modi said, "I am optimistic, if the way things are going and if everybody co-operates, we will catch the time line." Though he refused to give a new timeline for GST implementation, he reiterated that since this is a Constitution Amendment Bill, the Central Government will have to be flexible and address all the concerns of the state governments. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110822-goods-services-tax.aspxMon, 22 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110822-goods-services-tax.aspx ET Now caught up with NR Narayana Murthy, Chairman-Emeritus, Infosys, for his views on a number of issues facing Infosys currently as well as its future growth strategy. Excerpts: Is it feeling a bit strange to not have to report to work this Monday morning? Are you going to miss the campus? No, actually if you look at my schedule during the past 5 years, I have been spending much more time outside Infosys and therefore, I do not think I would miss too much. Of course, it is always a great pleasure to go to Infosys, it is a great feeling to go and meet the people with whom I have worked for the last so many years. But other than that, no, I do not think I would miss it. Challenging times for Mr. Kamath to take over. The US economy is staring at a double dip. What is your sense, will client budgets take a big knock? It is too early to say but from whatever we have talked to, I do not think corporations have been hit. I do not think their budgets have been hit. So in that sense, it is too early for anybody to say and the data that we have so far is that things will continue to be business as usual. So from an IT sector point of view, how different is this crisis going to be from the one that we saw in 2008? No, this is, of course, seminal because it is the first time in the history in the US, in the last probably 80 years or so or 90 years, that it has been downgraded from AAA. So in that sense, of course, it is a seminal event, but whether that is going to have any impact on the spending of the corporations in IT, it is too early to say. So given the lack of visibility, do you think Infosys Technologies should do away with its age-old practice of giving guidance every quarter? I do not think so. We have always given both top line and bottom line guidance and that is our goal and therefore, it is a good idea to have a certain target for us to reach at the end of the quarter. And that target is arrived at looking at the circumstances, looking at the environment and it is a good practice to have the target. But, of course, it is for Infosys's senior management to decide what they want to do in the future. But my own personal feeling is that it is always a good practice to have a guidance because that becomes a target for you to achieve, that becomes a target for you to exceed. Read the full article on Economic Times website http://www.ukibc.com/news_and_media/news/110822-indian-it.aspxMon, 22 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110822-indian-it.aspx By Kevin McCole When the optimism for West Bengal and for the UK's business opportunities in the State spread quickly and widely after the Trinamool Congress (TMC) won May's State elections, I have to admit that I was cautious. Yes, it was a fresh start after 34 years of communist rule. But what is different now, I asked, to those highly optimistic months immediately after the 2006 election, when the Left Front routed Mamata Banerjee's TMC? Resurgence to Stagnation The Communist Party of India (Marxist) - CPI(M) - had led Left Front governments since 1977, and in May 2006 won their biggest landslide majority ever. Business backed the Chief Minister, Bhuddadeb Bhattacharya, and investments into the State were growing. In particular, the announcements in the summer of 2006 that the first Nano car factory and a massive Salim Group petrochemical plant were coming to West Bengal sealed it. The State was back on the business map and Bhuddadeb was the State's greatest asset. Confidence was sky high. A visit in November 2006 by the then UK Trade Minister, Ian McCartney, hit all the right notes and the UK was set to be the key international partner in West Bengal's resurgence. Unfortunately, the resurgence didn't happen. Bhattacharya's government mismanaged the land acquisition process - 1,000 acres in Singur for the Nano plant and 12,000 acres in Nandigram for the petrochemical hub. In West Bengal, land invariably means farm land, the purchase of which requires great sensitivity. Mamata Banerjee seized this opportunity, and her protests - including a hunger strike in Kolkata city centre - grew and grew. There were, tragically, deaths when police clashed with protestors in Nandigram. The petro chemical project was cancelled. Then, following protracted, public and dramatic negotiations, Ratan Tata announced that the Nano factory would be moved to Gujarat. All this happened within 15 months of the Left Front's historic 2006 election win. Confidence was shattered. A New Resurgence? So, what is different now to August 2006? What are the prospects for West Bengal and for UK businesses looking at the State? There is still the same problem in finding land for industry, and the State coffers are still empty. In the neutral column, there is a new but inexperienced set of Ministers, and a civil service and wider public body adjusting to a new regime after more than 3 decades. On the plus side, Mamata seems to be better able than her predecessor to extract benefit from her relationship with the central government: the TMC is a key member of the UPA coalition, whereas the CPI (M) supported from outside the coalition between 2004 and 2008. The key difference, though, seems to be sense that May 2011 is a totally fresh start; that Mamata is determined to make a difference and that she is not weighed down with political ideology. It has also been striking that she has reached out to the UK. What does this mean for UK business? So what are the genuine areas of opportunity for British business? I won't produce a list of growth sectors or of tenders. Instead, I'll focus on some of West Bengal's advantages - natural and policy-driven, which provide the building blocks for business success. The people in Kolkata are smart and loyal, with a thirst for learning. The quality of English is high. When in good jobs that offer progression, Bengalis tend to stay. This mix of quality staff and low attrition rates, combined with a lower cost base than other states/cities, makes Kolkata attractive. The state wants to significantly deepen this talent pool, and broaden the academic excellence beyond higher education into more vocational skills. Thus providing industry with quality and quantity. Infrastructure, that other key building block for economic growth, is also a Government priority. For example, urban regeneration in Kolkata or road building in rural areas. There is also good quality office space close to the airport, and a significant metro rail extension connecting this area to the city centre and other suburbs. The city, and the wider State, has an abundance of heritage and architectural treasure, which is mostly under-developed. Kolkata's geographical location is an asset. It is by far the largest city - the hub - in east and north east India, an area of some 400 million people and the source of 70% of India's natural resources. It is also close to south East Asia - it is quicker to fly from Kolkata to Bangkok than to Mumbai. For example, this pivotal location draws in students and patients to, respectively, private education and healthcare providers. Finally, the UK is highly regarded in West Bengal - from the tea gardens in Darjeeling in the north of the State to the software developers in Kolkata in the south. The British Council, UKTI and the wider British Deputy High Commission are central to what happens in the State. They are very much the "go to" bodies when people are looking internationally. Conclusion So, May 2011 is a fresh start for West Bengal. There is optimism and determination, but a realistic awareness that change and resurgence will not be immediate and will not come easily. The UK is better placed than most countries to be part of West Bengal's future. Not only is UK business understood, respected and welcomed, but problems like land acquisition will not be an issue for the vast majority. What a smart UK SME is typically looking for are good and loyal employees, low costs, and quality office accommodation. Kolkata provides these. Click here to download a more detailed version of this article in Word format .http://www.ukibc.com/news_and_media/news/110824-view-state-west-bengal.aspxWed, 24 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110824-view-state-west-bengal.aspxNEW DELHI: Prof Ved Prakash Chairman of University Grants Commission(UGC) and Rob Lynes Director of British Council (on behalf of UK UKIERI partners) formally signed a Memorandum of Understanding (MoU) on Tuesday, 16 August 2011 to support all activities and programmes agreed under Phase Two of the UKIERI programme relating to the University sector across the four strands. The MoU was signed in the presence of Shri Kapil Sibal, Union Minister for Human Resource Development and Sir Richard Stagg, British High Commissioner to India. This MoU aims to work with UGC for implementation of strand programmes and activities in the Higher Education Institutions in India. This MoU is in continuation to the MoU signed between Ministry of Human Resource Development of the Government of India and the Department for Business, Innovation and Skills on behalf of the Government and the Devolved Administrations of the UK including Northern Ireland, which sets out the framework for UKIERI from 011-2016. Read the full article on India Education Diary website http://www.ukibc.com/news_and_media/news/110825-ugc-british.aspxThu, 25 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110825-ugc-british.aspxNEW DELHI: Rajasthan seems to be getting a lot more from the highways ministry since CP Joshi took over as minister. Only last week, seven stretches of state highways covering 836 km were converted to National Highway by a gazette notification even as all other states wait for the same. More state highway stretches in Rajasthan are likely to be included in the list for conversion to NHs. Sources said the ministry has approval to convert 10,000 km of state highways to NHs and the list of stretches covering 3,000 km will be out soon. The ministry has started identifying these stretches. Rajasthan has forwarded the list of stretches totaling 6,462 km of state highways for upgrading them as NHs. The other states which have sent proposals include Andhra Pradesh (11,161 km), Karnataka (7,744 km), Maharashtra (7,268 km) and Gujarat (6,857 km). Sources said that though UP has forwarded request for only 2,094 km, many of its stretches could be included in the list of NHs in the first phase considering its importance for the Congress. In the past seven years, state governments have submitted requests for 61,000 km of state highways for upgradation. Once a state highway is upgraded as national highways, the responsibility of their maintenance gets shifted to NHAI or the highways ministry. Read the full article on Times of India website http://www.ukibc.com/news_and_media/news/110826-rajasthan-roads.aspxFri, 26 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110826-rajasthan-roads.aspxNEW DELHI: Tata Steel Ltd proposes new tube units to tap the growing demand from oil and gas, and construction sectors. "We will be adding capacity in the hollow sections for construction applications through a new unit in Kalinganagar and another unit for oil and gas applications," said Mr Rajiv Mangal, Executive In-Charge, Tubes Division at Tata Steel. The company may invest about Rs 400 crore to set up a 3 lakh tonnes a year unit in Kalinganagar. It is scouting for a location in the coastal area to locate the unit that will cater to oil and gas. "Oil and gas being voluminous in nature, the new unit will be on the coast side," Mr Mangal said. The Tubes Division has a current capacity of 4 lakh tonnes a year, accounting for a tenth of Tata Steel's flat product output of 4 million tonnes a year. Tata Steel is expanding its flat products output to 12 mtpa by 2015-16 through new capacity addition Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110831-tata-steel-plans.aspxWed, 31 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110831-tata-steel-plans.aspxBANGALORE: The Indian PC market is expected to see sales of 11.15 million units in 2011 calendar, according to a study. According to market research, consulting and advisory services firm CyberMedia Research, sales are expected to accelerate further by 14 per cent to 12.71 million units in 2012. The study pointed out that with nearly 10 million unit sales in 2010, the combined installed base of desktop and notebook personal computers in India is estimated to have crossed 52 million units as of December 31, 2010. The current installed base of personal computers translates into one computer for every 25 Indians, doubling the per capita PC availability in just four years. At the end of 2006, there was approximately one computer for every 50 Indians. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110901-domestic-pc.aspxThu, 01 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110901-domestic-pc.aspxIt will hardly be a surprise for those who invested in the telecom growth story two years ago and stayed invested thereafter to feel a sense of deja vu. For, after losing market value for the past two years in the wake of stiff competition and pressure on profitability, telecom companies are once again back on the radar of investors. ET Intelligence Group takes a closer look at the changing revenue pattern of the sector and factors that would impact these changes to identify the companies which are well placed to take advantage of the change in fortunes. This time around, what has caught investors' fancy is the spate of tariff hikes undertaken by telecom operators in the past few weeks. Observers consider this as a sign of an end to the long drawn tariff war among new and existing telecom players. In addition, a slew of products and services, including smart phones, tablet computers, mapping and location finding solutions, and e-book readers, are expected to increase the need for connectivity considering their growing popularity. These factors also indicate that the extensive dependence of Indian telecom operators on voice and basic text messaging as a source of revenue when compared with their overseas counterparts is likely to reduce in favour of data-driven services. Read the full article on Economic Times website http://www.ukibc.com/news_and_media/news/110906-airtel-idea.aspxTue, 06 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110906-airtel-idea.aspx Delegation of 60 companies visit New Delhi and Kolkata LONDON: A delegation of over 60 skills providers is visiting India to meet businesses, explore opportunities and strike partnerships in New Delhi and Kolkata. Delegates come from a range of skills and education providers including, A4e, City of Westminster College, Tribal, Edexcel, City & Guilds and Hull College. The delegation, being led by the UK India Business Council (UKIBC) will begin in Kolkata, and participate in a workshop with the Government of West Bengal, leading industrialists, and Kolkata based skills providers. Then it will go to New Delhi where UK will be represented as the Partner Country at the Federation of Indian Chambers of Commerce and Industry (FICCI) Skills Summit. UK delegates will participate in the UK India Skills Forum (UKISF) Awards, Train the Trainer workshop and meet significant Indian training companies. On the occasion, UKIBC will also release a booklet outlining lessons learned from vocational education in schools in the UK. Speaking about the delegation Richard Heald, CEO, UKIBC said, "The UK has an internationally recognised competitive advantage in skills provision. The shared history, language and culture between the two countries should mean that the UK is regarded as the partner of choice to drive forward the skills agenda in India. It will not only help India in increasing its productivity but will help address the social, economic disparity in terms of region, gender, etc. During the visit we will share lessons learned in the UK in vocational training which are relevant to India." Welcoming the delegation, Sanjay Wadvani, British Deputy High Commissioner, Kolkata, said, "I am delighted to welcome one of the largest British business delegations to Kolkata next week. A 45-member strong British team representing 32 UK institutes and colleges are coming to the city to explore areas of mutual cooperation with Bengal educational institutes and corporate entities in areas of skill development, education and training." Currently, only five per cent of Indians aged 19-24 formally learn a trade. However, the necessity to improve vocational education and training to reap the demographic dividend of a young population is recognised at the highest levels of government, the business community and civil society. India is exploring ways to train 500 million people by 2020; both in blue collar and white collar jobs, across urban and rural India. To support India achieve this target, the UK India Business Council signed an MoU with Centum Learning Limited, a Bharti Associate company, last year, The objective is to deliver aspects of Centum's Joint Venture with the National Skills Development Corporation (NSDC). The initiative seeks to train over 12 million individuals over a 10 year period, in 383 districts of India. It is estimated that the project will require 3500 skill instructors, with 200,000 to be trained in the above mentioned sectors. During this delegation, UKIBC will sign an Memorandum of Understanding (MoU) with FICCI to explore areas of collaboration including skills development, training the trainers, demonstrating best practices and models, knowledge transfer facilities and utilising collective expertise of UKISF (UK India Skills Forum) for government funded programs for vulnerable groups. Heald added, "The UKIBC formed the UK India Skills Forum (UKSIF), as a collective umbrella for the UK skills and vocational training providers of all types from basic "blue-collar" trainers to higher end skills providers such as engineering etc." The UKISF is a one stop shop for UK skills providers. It has pioneered a consortia-based approach to the Indian market. In this way, UKIBC and UK skills providers are able to mobilize an entity which can meet the requirements of large scale skills. For more information email pallab@apollopublicrelations.com , ishara.callan@ukibc.com or call 02075923045 ENDS Notes to Editor About UK India Business Council (UKIBC) UK India Business Council is the premier business-led organisation promoting bilateral trade and investment between the two countries. Our mission is to facilitate an increase in trade between the UK and India through business to business dialogue. UKIBC plays an influential role in creating and sustaining an environment in which free-trade and investment flourishes. Through the facilitation of partnerships, and with 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. Back to UKIBC newsletter, August/September 2011 http://www.ukibc.com/news_and_media/news/110912-uk-skills-providers.aspxFri, 23 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110912-uk-skills-providers.aspx Achievers: Nandita Luthra (Bharti-Walmart) & Geetu Verma (Hindustan Unilever) NEW DELHI | MUMBAI: When Hindustan Unilever hired Pepsi executive director Geetu Verma to head its Rs 3,000-crore foods business earlier this month, sources from the industry and search firms swear they heard the glass ceiling crack. HUL is known to prefer lifers who have worked their way up in key marketing and operational roles and no woman has done that yet. Verma, an outsider, will be the first woman business head at HUL. And if search firms are to be believed, Verma's appointment is the first among many such woman leaders the company is now looking to hire. "HUL has always recruited on the principle of meritocracy," a company spokesperson said. Coca-Cola India, unlike its rival PepsiCo India, had no women executives for about six months in its top management till it found Sonu Grover and Anupama Ahluwalia this year. The latter, a former Idea Cellular executive, is now heading the beverage maker's high-profile marketing team. Why the sudden rush for women in leadership roles? Companies want diversity in top leadership, but not just for diversity's sake. They want diversity for business' sake. Coke gives a compelling reason - women determine what comes into the home and in what quantity and frequency. "It is necessary that women lead businesses given their unique advantages," said a Coke spokesperson. "Women account for the majority of purchase decisions for our beverages. And they represent 70% of all grocery shoppers." Read the full article on Economic Times website http://www.ukibc.com/news_and_media/news/110921-women-achievers.aspxWed, 21 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110921-women-achievers.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/news/14-12-2009.aspxMon, 14 Dec 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/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/news/14-12-2009_climatechange.aspxMon, 14 Dec 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/14-12-2009_climatechange.aspx Many state run firms to get listed: PM NEW DELHI (Reuters) - Prime Minister Manmohan Singh said on Thursday that many state-run firms are eager to list their shares on the stock exchanges. India, UK trade may touch $20 bn in 5 yrs: UK envoy The two-way trade between India and UK is likely to reach $20 billion in the next five years from the present $13 billion, British High Commissioner Sir Richard Stagg said. "In the next five years there can be increase in trade by another 50 per cent from $13 billion without great difficulty. At present, most of the trade is happening in traditional items and its not fulfilling its full potential," industry body PHDCCI said quoting Stagg. India's Rupee Rises as JPMorgan Earnings Spur Growth Optimism Oct. 15 (Bloomberg) -- India's rupee strengthened past 46 to the dollar for the first time since September 2008 on optimism the global economy is recovering after JPMorgan Chase & Co. and Intel Corp. reported earnings that beat estimates. India's first full-fledged BRT system launched in Ahmedabad Ahmedabad Bus Rapid Transport System (BRTS), touted as the country's first such full fledged project, was launched on Wednesday. With the launch, the city now gets around 25 BRTS buses plying on a 12.5 km stretch from RTO to Chandranagar of the total 55 km of phase one. At a project cost of Rs 80 crore, the 12.5 km long first section of phase one was launched by Narendra Modi, chief minister of Gujarat from Chandranagar. UKIBC is taking a business delegation to Ahmedabad on Nov 30th. To find out more, please go to www.ukibc.com Booker expanding onto internet and into India Strong sales growth helped drive down debt at Booker Group, Britain's leading cash and carry wholesaler to corner shops, convenience stores and caterers. Charles Wilson, chief executive, said the group was trading in line with expectations, adding that the wholesaler would continue its drive into direct internet sales and the Indian subcontinent, following advice from British-based Indian customers. Vedanta oks $500 mln India copper expansion Mining group Vedanta approved a $500 million expansion on Thursday that will double its copper smelting capacity in India.London-listed Vedanta, which focuses on India, said the expansion would expand capacity by 400,000 tonnes a year at the Tuticorin smelter run by its Sterlite Industries affiliate. UKIBC FORTHCOMING EVENTS Emerging Cities Delegation to Ahmedabad 30th November- 2nd December India's rapid economic growth has generated a wealth of business opportunities outside the traditional economic heartlands of New Delhi, Mumbai and Bangalore. The UK India Business Council's landmark report, "Opportunities for UK PLC in Emerging Cities of India" highlighted those opportunities. UKIBC is leading companies to the opportunities, this time to Ahmedabad. Ahmedabad is home to ambitious infrastructure and built environment projects. It is also a recognized hub for life sciences and boasts some of the most celebrated academic institutions in India, such as the Indian Institute of Management (IIM), Ahmedabad. The UKIBC hopes that by engaging now with Ahmedabad, UK businesses will be able to beat the competition RSVP Carolina.ribera@ukibc.com OR go to www.ukibc.com Exploring Transnational Networks: UK Education and the Next Gen 22 October 2009 at John McAslan & Partners, 7-9 William Road, London NW1 3ER From :6.15 9.00pm Overview: The aim of this event is to showcase the efforts being made by UK universities to reach out to Indian students and to highlight the growing importance of transnational connections and international partnerships between the next generation of young leaders in the UK and India especially in rapidly developing non-capital cities such as Leeds and Pune. RSVP: caroline.erskine@ukibc.com OR go to www.ukibc.com http://www.ukibc.com/news_and_media/news/15102009.aspxThu, 15 Oct 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/15102009.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/news/17-12-09.aspxThu, 17 Dec 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/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/news/17_01_2010_education.aspxSun, 17 Jan 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/17_01_2010_education.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/news/18_01_2010.aspxMon, 18 Jan 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/18_01_2010.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/news/2009_06_09.aspxTue, 09 Jun 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/2009_06_09.aspx UK SALES OF JAGUAR AND LAND ROVER SOAR Jaguar and Land Rover sales soared by a third last month with British buyers making the most of the Government's soon‐toend scrappage scheme. Tata Motors, the Indian firm that paid £1.4 billion for the two car brands last year, said Jaguar sales were 5% up in December 2009 compared with a year earlier, with drivers buying almost 5000 new vehicles during the month. Tata Motors said that sales of all its vehicles ‐ which also include the cheapest car on the market, the £1,400 Nano ‐ were 84 per cent higher in December than a year earlier. INDIA SEEKS $400 BILLION FOR EDUCATION 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. BUSINESS DELEGATIONS FROM 22 COUNTRIES TO PARTICIPATE AT THE PARTNERSHIP SUMMIT 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. INDIA HAS OPPORTUNITY TO BUILD SUSTAINABLE CITIES 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 saving measures," Sibal said. INDIA: INFRASTRUCTURE DEVELOPMENTS Approval for £490 Million on terminal at Chennai port The Public Private Partnership Appraisal Committee of India has given its approval to the proposed £490 Million mega container terminal at Chennai port. The project will be developed in phases between 2013 and 2018. Upon completion, the total capacity of the mega container terminal will be 4 million Twenty Foot Equivalent units (TEUs) per annum. Investment is planned for approx. £124.7 Million for breakwater construction, £66.6 Million for berths, £47.9 Million towards dredging and £16.5 Million for reclamation. The port would contribute £74.7 Million. Indian Government grants approval to road projects worth £830 Million The Indian Government has approved road projects worth £830 Million in five states to upgrade nearly 562 km of four‐lane highways to six lanes. The approved projects include upgrading to six lanes of 435km highways in Rajasthan, Maharashtra and Gujarat at an estimated £575 Million, part of the Golden Quadrilateral (GQ) scheme and four/six laning of 122.87 km stretch on Maharashtra‐Goa and Goa‐Karnataka border at an estimated £251 Million. UKIBC NEWS, EVENTS AND DELEGATIONS Attention all UKIBC members! As you may be aware, the UKIBC membership year runs from 1st April to 31st March. We will therefore be writing to you in February to start the renewals process. By starting soon, we will be able to ensure that you continue to receive all your membership benefits without any interruption in the new financial year. If you have any immediate questions about membership, please call us or write to business.services@ukibc.com . New look website As some members may be aware, our website is in the process of redesign, our new look website will go live at the end of the month. In the meantime if you need any information please email: enquires@ukibc.com Next Generation Network Delegation to Delhi and Mumbai from 4th - 10th Feb 2010 The UKIBC's Next Generation Network will be taking its first ever delegation of young entrepreneurs and professionals to India (Delhi and Mumbai) in early February. The broad theme of the delegation is 'Entrepreneurship and Education', and the objective is to promote the UK's strong entrepreneurial ecosystems and talent pool to India's senior business leaders and entrepreneurial starts of tomorrow while highlighting business opportunities in the Indian market. For more information or if you are interested in joining the delegation please contact Tara.Panjwani@ukibc.com UK India Infrastructure Forum Update With the launch of the UK India Infrastructure Forum announced last week, we are pleased to confirm forthcoming events planned as part the Forum. On the 23rd March there will be a seminar on new cities and special economic zones (SEZs). This will outline the expanding opportunities for UK Infrastructure companies, through the development of SEZs and new towns being built around India. On the 13th April, Mr. Narinder Nayar, Chairman of Bombay First and MD of Comcast India Ltd. will speak in a seminar and facilitate discussion the Trans‐harbour link. A passage from India: opportunities and challenges in out bound Indian investment Norton 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 RSVP please email Kerstin MacCana at kerstin.maccana@nortonrose.com by 26 January 2010. Insight India Series As 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. UKTI Seminar Mission to India UK Trade and Investment are hosting a delegation presenting UK carbon solutions for a global low carbon future. The mission will raise awareness of the UK as a world leader in low carbon goods and services. The programme will focus on waste management and the Water sector. It comprises visits to three cities: New Delhi, Munbai and Kolkata, between the 7th and 12th February 2010. Destination India UKTI are organising a "Destination India" event in Farnborough on the 23rd February. Rt. Hon Patricia Hewitt, UKIBC Chair will introduce the event. Key topics for discussion include: Indian policy and regulatory practice, cultural differences and Indian Business etiquette, and financial procedures when trading in India. Barclays Wealth, Isle of Man & India The UKIBC, Barclays Wealth and Isle of Man will organise an event on the evening of 23rd February. The discussion will highlight the issues surrounding trade and investment between India, the UK and the Isle of Man. UKIBC March Delegation The UKIBC will take a business delegation to Chandigarh, Jaipur and New Delhi during the week beginning 8th March. Further information and online booking will be available from February. UKTI taking Biotechnology Delegation to India In March 2010, UKTI will take a group of small and medium sized enterprises to Bangalore, Mumbai and Hyderabad. UKTI will provide tailored events, presentations, networking opportunities and one to one meetings. UKTI will provide flights and accommodation during the trip. Anand Sharma to visit UK India's Minister of Commerce and Industry, Anand Sharma, will be in the UK for the JETCO Ministerial. To find out more visit: www.uktradeinvest.gov.uk http://www.ukibc.com/news_and_media/news/2010_01_18.aspxMon, 18 Jan 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/2010_01_18.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/news/23_01_2010.aspxSat, 23 Jan 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/23_01_2010.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/news/23_11_2009.aspxMon, 23 Nov 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/23_11_2009.aspx JLR to shut one UK plant; invest 800 mn pounds Tata Motors-owned Jaguar Land Rover said on Thursday it will invest 800 million pounds (over Rs 6,200 crore) on developing eco-friendly products as part of a decade-long new business plan, which will also see the company shutting one of its plants in the UK. India to be a test-bed for global roll-outs' NCR Corporation, the NYSE-listed $1.12-billion data processing and automated teller machines (ATMs) maker, is thinking of using emerging markets like India as a test-bed for global roll-outs. With a 50 per cent share of the Indian ATM market and 85 per cent in cheque processing and payment solutions, the 125-year-old company - which rolled out its 25,000th ATM from its 120,000-sq-ft manufacturing facility at Puducherry recently - says it also sees huge opportunity in the inclusive banking programme that the Reserve Bank of India has laid forth. Foreign students double in a decade Universities are increasingly relying on students from countries outside the European Union because they pay far more in tuition fees, the data suggests. On many courses, undergraduates and postgraduates from overseas are charged more than double EU students. Future of Legal Services: Lord Bach, UK Ministry of Justice The dialogue between India and Britian on the mutual opening up of the legal services industry has been going on for a couple of years now...but with little success. Many Indian law firms are opposed to the entry of foreign law firms, even though large India desks operate off-shore. The issue has been priority with many visiting UK government dignitaries and in his recent visit to India, Lord Bach - Parliamentary Under-Secretary of State, Ministry of Justice, UK reiterated the importance of a phased opening up. In this exclusive interview with Menaka Doshi, he also talks about the changing face of UK's legal services industry and reforms under the Clementi report. Firstsource creates over 1,300 jobs in the UK wins Investor of the Year Award Firstsource Solutions (NSE:FSL, BSE:532809), a leading global provider of business process outsourcing (BPO) services, has been a major investor in the UK in the last three years and with two Operations centres now employes over 1,300 people in Belfast and Londonderry. This achievement has won Firstsource the UK Trade & Investment's (UKTI) Investor of the Year award in the UK-India Business Awards. The awards were announced in Mumbai by Lord Davies, UK Minister for Trade, Investment and Business. The Investor of the Year award is given to the Indian company making a significant contribution to the UK economy each year. FORTHCOMING EVENTS India Direct Tax Code changes - what do they mean for your investments in India? 06 Oct 2009, Online Webinar Informa Leaders in India Business Forum 2009 09-10 Oct, Mumbai, India http://www.ukibc.com/news_and_media/news/24092009.aspxThu, 24 Sep 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/24092009.aspx Global Indians celebrate Republic Day Tuesday, January 27, 2009 - Washington (PTI): The Republic day was celebrated in the US, the UK and South Africa, with unfurling of the tricolour and peace prayers held by the Indian community in the countries. The Indian Ambassador to the US, Ronen Sen, unfurled the tricolour at a function held at Indian Embassy in Washington, with a large number of community members from in and around the capital attending the event, at which President Pratibha Patil's message was read out. Satyam to look at funding options, L&T stake Monday, January 26, 2009 - HYDERABAD, India, Jan 26 (Reuters) - India's Satyam Computer Services Ltd ( SATY.BO ) will this week discuss a shortlist of three candidates for chief executive and look at funding options to get the fraud-hit outsourcer through the next few weeks. Anglo-Indian digital research gains £9 million boost Monday, January 26, 2009 LONDON - U.K. and Indian governments, scientists and industrial engineers are embarking on a £9 million 'Next Generation Networks' project to bring online education, healthcare and early warning weather/natural disaster systems to remote areas in both countries. Indian Stocks Rise to Highest in a Month; ICICI, Tata Gain Jan. 28 (Bloomberg) -- Indian stocks rose for a second day, driving the benchmark index to its highest in a month, on expectation the U.S. will form an institution to absorb toxic assets, helping stimulate the world's biggest economy. TCS gets $100 mn deal from UK's 4U Group Bangalore: Tata Consultancy Services Ltd (TCS), India's largest IT vendor said it won $ 100 million or Rs 489 crore multi-year managed IT services deal from British telecom and financial services firm 4U Group Ltd. http://www.theasiannews.co.uk/news/business/s/1088299_building_links_with_india http://www.ukibc.com/news_and_media/news/27012009.aspxTue, 27 Jan 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/27012009.aspx UK behind US and India on renewable energy spending By Fiona Harvey and Lina Saigol Published: May 26 2009 18:06 | Last updated: May 26 2009 18:06 The UK is lagging behind on renewable energy investment, with fewer investors willing to take a risk on the market. Only 13 per cent of energy companies around the world, and 23 per cent of those in the UK, said they would invest in the UK in the next 12 months, according to a global survey of 200 senior energy executives carried out by KPMG, the consultancy. Local lenders find favour with MNCs The global financial crisis seems to have changed the way multinational companies operating in the country engage with Indian banks. Post the crisis, their involvement with large Indian public and private sector banks has grown for a range of services, such as cash management and credit, according to bankers. Multinational companies operating in India and other emerging markets may be looking beyond global banks and are increasingly keen to partner with strong local lenders, bankers say. LinkedIn to focus on India, have localized subscriptions Miami, US: In a room full of journalists, entrepreneurs, consultants and investors, Reid Hoffman asked how many of them were on LinkedIn. A smile appeared on his face when he saw the number of hands raised-almost everyone in the room was on the professional networking site Hoffman, 41, founded in 2002. UBM announced a number of initiatives to expand its presence in India UBM's healthcare division, CMPMedica, has acquired Mediworld Publications, an Indian medical publisher for $844,500. This acquisition further strengthens CMPMedica's position in India as a leading healthcare media business and establishes it as the foremost provider of Drug Information Systems. The acquisition of Mediworld enhances CMPMedica's offering for the Indian market with six new specialty medical journals and a Pharmaceutical Marketing Solutions business. Mediworld's IDR Drug Directory is particularly complementary to CMPMedica's existing CIMS Directory, published by its Bangalore operation. Please download the MS Word doc for more news.http://www.ukibc.com/news_and_media/news/27052009.aspxWed, 27 May 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/27052009.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/news/30-01-2010.aspxSat, 30 Jan 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/30-01-2010.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/news/4_01_2010.aspxMon, 04 Jan 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/4_01_2010.aspx Bangalore: Aircraft manufacturer Airbus Industrie has forecast that India will require an additional 1,000 aircraft in the next 20 years.The company is also planning to raise the headcount at its engineering centre at Bangalore from 180 to 400 over the next three years. With a growth of over 16 per cent in air traffic in India year-on-year, Mr Tom Enders, Chief Executive Officer, Airbus, said, "India, next to China, is one of the big growth hubs for the aviation industry." Addressing the media, Dr Kiran Rao, Executive Vice-President - Sales and Marketing, Airbus, said that the Indian carriers were taking a bigger share of the international market. According to him, there would be between 20 and 30 deliveries every year. Leasing route After a lull in the three years since 2008, "2011 will see the start of the reordering phase of the Indian carriers," he said. However, he expected Indian carriers "not so much to buy now", but to lease aircraft. "The leasing route will be the way forward for the next couple of years," said Dr Rao. This year, the company hasn't "sold aircraft to Indian airline companies, but have leased quite a few", he added. Officials at Aribus pointed out that Mr Praful Patel, Union Minister of Civil Aviation, expected India to see an addition of 2,000 new aircraft in the next 20 years. However, even at a modest seven-eight per cent growth rate in air traffic, they expected a demand for about 1,032 aircraft in the 20-year period, at a market value of $138 billion. On the other hand, China is expected to see an addition of 3,000 aircraft in the 20-year period. On the new A350 aircraft, he said that they were expected to fly in 2012, and deliveries will be made in 2013. Airbus Industrie is also looking to increase the staff from 180 to 400 in the next three years as the aircraft company looks to outsource more work to India. "We have selected six companies to work with in India on the engineering side, and four companies on the IT side," said Dr Srinivasan Dwarakanath, Head - International Co-operation (India, South East and North-East Asia), Airbus. He added that the company expected the cumulative turnover of work generated in India to grow over the next 10 years to over $1 billion. http://www.ukibc.com/news_and_media/news/airbus.aspxSun, 03 Oct 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/airbus.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/news/apa_01_2010.aspxWed, 28 Apr 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/apa_01_2010.aspxAlliance Dental Care, the dental care joint venture between Apollo Hospitals and medical technology company Trivitron, has appointed Veda Corporate Advisors as its investment banker to advice on fund-raising plans. The joint venture company is looking to raise around Rs 60 crore from private equity investors for expanding its dental chain in the next two years. Currently, there are 16 Apollo Dental Centres. In two years, the target is to have 100 centres. The PE investors are expected to be finalised in 2-3 months, said Mr G.S.K. Velu. Currently, Apollo Hospitals holds majority stake in the joint venture. Post fund-raising, Apollo will hold 51 per cent, Trivitron will have 30-35 per cent and the rest will be with investors. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/apollo-dental-care-joint-venture.aspxWed, 19 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/apollo-dental-care-joint-venture.aspx Can a bank bridge the gap between making profits and alleviating poverty in India, questions Sir Thomas Harris, Vice Chairman, Standard Chartered Capital Markets Ltd Standard Chartered Bank has been providing banking services in India, continuously, for more than 150 years. Indeed, its very first branch was opened in Calcutta in 1858. Over the years, Standard Chartered has emerged as the largest foreign bank in India. With its shared service centre in Chennai, it now employs about 20,000 people in India, roughly a quarter of its global headcount. Standard Chartered is not a charity. To be a sustainable business, it must make money and its track record in India over the last few years has been one of steady growth. In 2009, operating profits exceeded $1billion for the first time and in the first half of 2010, India overtook Hong Kong to become the most profitable of our 70 different overseas markets. That growth, of course, reflects the astonishing recent expansion of the Indian economy. In addition to our wide range of personal and SME financing products, we now provide wholesale banking services to more than half of India's top 300 corporates. Against this background, it was a natural step for Standard Chartered to become the first foreign bank to take a listing on the Mumbai Stock Exchange earlier this year. But no responsible business operating in India can ignore the fact that huge numbers of its people are deprived and live in abject poverty. While hundreds of millions have seen their lives transformed for the better in recent years, hundreds of millions of others, particularly in the rural areas, still try to survive on less than $2 per day. As in China, rapid economic growth is exacerbating income disparities. Business has an obligation to adopt new models which serve not only the interests of the wealthy but also do something to alleviate these acute levels of poverty. We need to create a long-term value both to shareholders and society as a whole. This social obligation is particularly acute for financial services companies because there is a wealth of evidence to demonstrate that exclusion from basic financial products is a significant cause of poverty. Even in mature economies, surprising numbers of people remain outside the formal banking system. In the USA, 7.8% of the adult population has no bank account. In the UK, 4% (or 1.75million adults) are in the same position. In emerging markets, the situation is far worse. The rural poor, in particular have no access to secure ways of holding their savings or access to loans, other than those provided by loan-sharks at extortionate rates. Standard Chartered is involved in a number of different programs designed to address these problems in Africa and Asia. One of the most promising approaches has been our involvement in the provision of microfinance products to the poorest. Between 2004 and 2008 global microfinance grew by 39% per year accumulating total assets of more than $60bn and gross loans portfolios of more than $44bn. In 2006, Standard Chartered Bank gave a commitment to the Clinton Global Initiative that it would provide $500 million in credit and funding instruments over five years to help reach out to the unbanked. We fulfill that pledge by working in partnership with recognized microfinance institutions (MFIs). These are organizations who have the skills, the staff and the ability to reach out to the remotest of areas and the poorest sections of the community to offer microloans (and sometimes credit, savings and insurance products) to the poor and the unbanked. This approach recognizes that the MFIs are better-equipped than a formal bank, to deal with clients who have no credit history and often live miles from any bank branch. These are customers who are either unserved or underserved by the mainstream financial sector. Given the limits on our ability to offer branches in rural areas, Standard Chartered focuses on providing a full range of sophisticated banking products and services to the MFIs. We work with development organizations and social investors to increase the flow of funds to the microfinance sector and we invest in providing technical assistance to help the MFIs build their capacity and enhance their access to credit. By adopting a wholesale approach to microfinancing, we leave the MFIs to do what they do best while we give them the maximum possible support to allow them to expand their coverage and deepen their impact. As an illustration of this partnership, in 2009, Standard Chartered was the lead arranger for three landmark debt capital market deals in India. We raised funds through separate issues of one year listed Non Convertible Debentures. This was the first time MFIs in India had issued local currency debt paper, rated and publicly listed; but, perhaps more importantly, it represented a further stage in the steady maturing of MFIs in India as critical, and specialized, parts of the financial services industry. By lowering their funding cost, they, in turn, are able to provide more affordable loans to the ultimate borrower, the poor. Just as the bank has achieved record levels of growth providing formal banking services to private and corporate clients in India, so we have also seen a dramatic growth in our involvement in microfinance programmes designed to reduce poverty. By May 2010, our microfinance portfolio was more than half way towards meeting our CGI commitment with India having emerged as by far the most important of the 17 different countries in which we support microfinance. Over 34% of our global outstanding microfinance commitments are now in India. Standard Chartered attaches enormous importance to this work. The Reserve Bank of India has called on all banks in India to promote financial inclusion and we have taken a leading role in conceptualising and conducting meetings of India's 16 leading banks to promote the dynamic but orderly growth of microfinance initiatives. We believe the industry has much more it can do to spread best practice and to learn from successes elsewhere. Africa, for example, has something to teach India on the use of mobile telephony in reaching out to the remotest villages. There is a growing wealth of evidence to suggest that the provision of basic financial services to the poorest can make a significant impact on poverty alleviation and development. The evidence also suggests that this is best done in a sustainable fashion by encouraging MFIs to act commercially, and for a profit. Having access to small loans and other financial services can change lives. But much more needs to be done to help those in the front line reduce their transaction costs, lower the cost of their capital and reach out more effectively to the poorest. Banks like Standard Chartered can, and do, help them achieve these aims. Between now and 2026, India's population will increase by another 200 million to reach 1,419 million. Demographics tell us that about 75% of that growth will be among the poor and nearly half the population will then be in the 5 poorest states of central and eastern India. So we shall continue to see a tension between the dynamism of what is currently the second fastest growing economy in the world and the persistence of deprivation in the middle of an economic miracle. The next few decades will see monumental changes in India. This will open up further opportunities for growth and profits for banks like Standard Chartered, but only if we never forget the equal need to increase our commitment to those by-passed by this miracle. Bridging this gap requires new ways of working and new ways of adding value. http://www.ukibc.com/news_and_media/news/bankingtheunbanked.aspxWed, 15 Sep 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/bankingtheunbanked.aspxBlackburn Rovers expect to become the next Premier League club to be sold to foreign investors, and the first to have owners from India, after agreeing a £46m takeover with Venky's, an Indian poultry and pharmaceutical company. Read more http://www.ukibc.com/news_and_media/news/blackburnrovers.aspxWed, 27 Oct 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/blackburnrovers.aspxThe Union Cabinet today approved a scheme to set up a National Optical Fibre Network (NOFN), which will be used to provide broadband connectivity to village-level bodies - Panchayats. The project cost is expected to be "of the order of Rs 20,000 crore". A special purpose vehicle (SPV) will be formed to execute the network. "Immediately, the equity in SPV will be from the Government," Mr R. Chandrashekhar, Secretary, Department of Telecom (DoT), said. Subsequently, he said, BSNL, Railtel, PGCIL and GAIL are likely to be roped in as equity partners. "The details are being worked out. The funding for the project will be done through Universal Service Obligation (USO) fund. The USO fund accruals over the next two-three years will cover the finances," he said. "At present, the optical fibre cables reach the block headquarters mostly. Now they will reach the Panchayat level…. The incremental layout will be done through the SPV." The Government has set a target to complete the roll-out in about two years. The SPV will get revenues by charging its customers access charges according to the TRAI guidelines. The key requirement is to get the right of way (RoW) from the State Governments as they have varying rules and charges for providing it. "We will have tripartite agreements between the executing agency, State Government and the Department of Telecom. The State Governments are expected to contribute by providing free RoW," Mr Chandrashekhar said. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/cabinet-approves-scheme.aspxMon, 24 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/cabinet-approves-scheme.aspxMUMBAI: Cairn India Ltd yesterday reported an almost seven-fold jump in net profit for the third quarter on the back of an increase in output from its producing oil and gas properties. Read more http://www.ukibc.com/news_and_media/news/cairnindiaprofits.aspxFri, 11 Feb 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/cairnindiaprofits.aspx LONDON: British Prime Minister David Cameron today tried to enthuse the Conservative party and the people by insisting that things will soon improve economically and called for the same "drive to succeed" that is seen in Delhi, Shanghai or Lagos… "When you step off the plane in Delhi or Shanghai or Lagos, you can feel the energy, the hunger, the drive to succeed. We need that here. Frankly, there's too much 'can't do' sogginess around. We need to be a sharp, focused, can-do country," he said in his closing speech to the Conservative party's conference in Manchester, northwest England... ( Read more ) http://www.ukibc.com/news_and_media/news/cameron_dehlidrive_061011.aspxThu, 06 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/cameron_dehlidrive_061011.aspxInfosys' Head of Europe argues that Britain and India need to collaborate more closely on technology and talent if we want to boost bilateral trade. Read more http://www.ukibc.com/news_and_media/news/davosspecialrelationship.aspxThu, 27 Jan 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/davosspecialrelationship.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/news/essar_energy_on_londons_ftse100.aspxFri, 11 Jun 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/essar_energy_on_londons_ftse100.aspxA new trend is taking root in Pune, the centre of Maharashtra's vegetable-growing belt, where farmers are approaching consumers directly with their produce, cutting out middlemen and retailers. Keen to earn a larger share of the hefty prices consumers pay for fresh vegetables, farmers have adopted a direct-to-home model that lets people buy online as well as from outlets. Unlike other online delivery systems of fruits and vegetables the Pune experiment is being driven by farmers themselves. So while some farmers are accepting online payment for home delivery of organic vegetables, others are forming groups that tie up with housing societies to sell inside their premises once a week. Farmers say if growers are able to achieve scale and get bank assistance they would be able to offer big discounts in future. Mulashi Group: Online ordering Farmers from the scenic Mulashi taluka in Pune district, where many Bollywood stars own farmhouses, did not grow much besides rice during the four-month-long rainy season. When water became available throughout the year due to the harvesting work carried out by Pune-based non-government organisation Gomukh, farmers started looking at cash crops. Gomukh suggested organic cultivation. But selling their produce through the regular Agriculture Produce Marketing Committee mechanism would not have left much profit for the farmers. So an online system of selling the vegetables directly to the consumers was mooted. Now more than 200 Pune families get three tonnes of vegetables home delivered every week. They place their orders online that are processed in the village. Customers have to pay a minimum of Rs 2,000 through the Internet and the minimum size of the order has been fixed at Rs 150 per delivery. "For me the freshness of the vegetables delivered at home is the best part of the system. The ease of placing the order and doorstep delivery is a great help for working couples and senior citizens," says Rajendra Awate, a customer of the Gorus group, an association of 40 growers, for more than a year. The Gorus group uses Gomukh's training centre for processing the online orders. They employ four people for this work who are paid Rs 4,000 to Rs 6,000 a month as salary. Group Farming: The Kalwadi group Junnar taluka is located at the centre of the vegetable belt spread from Nashik to Pune to Kolhapur. The region has been a supplier of tomatoes, cabbage and cauliflower to the entire country for many a decade. The hundekari system, a common practice in most rural areas, also prevailed in Junnar. Hundekaris are local agents of big traders. They give money to farmers for producing his crop. Or they set up an arrangement under which a farmer can purchase seeds and other inputs from a dealer on credit. After harvest, the dealer charges him higher for the inputs than what he would have charged cash-paying customers. But things changed some five years ago, when the state agricultural department encouraged farmers in the state to organise themselves into groups. Eventually some of these groups became very successful. A group of 10 farmers from village Kalwadi, about 10 km from Narayangaon, has been selling a few tonnes of vegetables everyday directly to the housing societies in Pune for the last two years. The main purpose of collectively working in groups is to save expenditure on the input costs. "Our self-help group received seed capital from Bank of Baroda. So we started paying for our inputs in cash and got huge discounts," said Ajay Belhekar, head of the Kalwadi group of farmers. Apart from saving on the production cost, the farmers are now getting at least 25% to 30% more price for their produce. The group, with the help of Pune APMC started directly selling its vegetables, bypassing middlemen. Now the group sells its vegetables at four big housing societies. Two farmers from the group stay in the city for six days a week. This group too sells vegetables at the prevailing market rate. Rohini Jawadekar, who lives at the Salunke Vihar society says, "I purchase vegetables from these farmers who have been selling vegetables inside our society for the past two years." There are a few other groups of farmers who are trying to do direct marketing. Shashanka Bhide, senior fellow with the National Council for Applied Economic Research, says: "The obvious issue here (in direct marketing) is its financial viability. Some aggregation service is required for pooling the produce and its distribution to achieve benefits of standardisation to the consumers." Challenges: Selling Permit Although organised modern retail gets licences for direct marketing, there is still no such provision for individual farmers. State agricultural marketing minister Radhakrishna Vikhe Patil in a recent interview to ET said that his government is planning to issue direct marketing licenses to individual farmers. "It is tough to convince the farmers to give 30% of their time for marketing and logistics to get more benefits," says Suneel Vaman, executive director, Gomukh. "The consumers can get cheaper vegetables if these models can scale up." Read the full article on India Times website http://www.ukibc.com/news_and_media/news/farmers-in-prune-add-online.aspxTue, 25 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/farmers-in-prune-add-online.aspxIndia's GDP (gross domestic product) growth stands revised upwards to 8 per cent for 2009-10 from the 7.4 per cent expansion estimated earlier for the fiscal, mainly on the strength of better showing by sectors such as manufacturing and services. Read more http://www.ukibc.com/news_and_media/news/gdpgrowth.aspxTue, 01 Feb 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/gdpgrowth.aspxGeneral Dynamics UK has signed its first contract with an Indian customer, delivering an innovative approach to sharing its Intellectual Property (IP) with its Indian partner. The company signed a £4.9 million seven-year contract with Hindustan Aeronautics Limited (HAL) to support the Indian Air Force's fleet of Hawk aircraft. Read more http://www.ukibc.com/news_and_media/news/generaldynamicshal.aspxMon, 14 Feb 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/generaldynamicshal.aspx New Delhi: India is reviving a plan to scrap its mega power plant policy, imposing a 5% customs duty on the import of equipment that goes into thermal projects that will generate at least 1,000 megawatts (MW). The government's move is believed to be prompted by a desire to prevent the import of Chinese equipment. To be sure, the move needs to be cleared by the cabinet and the rule will apply only to new projects with companies that have already placed orders with Chinese equipment makers being exempt. "Tariff or custom duty exemption is only applicable for mega power projects. If this distinction is done away with, there is no difference between mega or non-mega. The imported equipment will be subjected to a 5% customs duty, 10% countervailing duty and special additional duty of 4%. There will be no distinction. Everyone will have to pay the same duty," said a top power ministry official who did not want to be identified. The mega power project status allows fiscal benefits to developers of thermal power plants of at least 1,000MW capacity, including a tax holiday for 10 years and a waiver from customs duty on equipment imports. Developers of smaller projects pay a 5% import duty on power equipment. The "mega" status is also available to hydropower projects having a threshold capacity of 500MW. In Jammu and Kashmir and the North-East, the threshold capacities are 700MW for thermal projects and 350MW for hydropower. The power ministry is expected to take up the issue with the Union cabinet soon. "Any policy change will have to be prospective," added the power ministry official. India's move to curb Chinese power equipment imports comes at a time when the two countries have been discussing ways to double bilateral trade to $100 billion (Rs. 4.9 trillion today) by 2015 and how to plug a yawning trade gap in China's favour. Bharat Heavy Electricals Ltd (Bhel) and Larsen and Toubro Ltd (L&T) have been lobbying with the government to limit Chinese competition. A second government official, who also did not want to be identified, said the proposal has been in the works for some time, aimed at creating a level playing field for domestic equipment makers. The power ministry was not in favour of such a move until after the start of the 12th Plan (2012-17). A panel of secretaries had earlier decided to impose these duties. Planning Commission member Arun Maira had also recommended a 14% import duty on power generation equipment to strike a balance between protecting local manufacturers and the need to import equipment to boost power production, Mint reported on 10 February 2010. Power generation equipment manufacturers having a manufacturing base in India-Bhel, Doosan Heavy Industries and Construction Co. Ltd, and the joint ventures between L&T and Mitsubishi Heavy Industries Ltd; Toshiba Corp. of Japan and the JSW Group; Ansaldo Caldaie SpA of Italy and Gammon India Ltd; Alstom SA of France and Bharat Forge Ltd; BGR Energy Systems Ltd and Hitachi Power Europe GmbH, and Thermax Ltd and Babcock and Wilcox Co.-will benefit from such a move. A top Bhel executive, who did not want to identified, said: "We have been asking for it for so long. Such a move will benefit us and all the joint ventures that have been set up." The chief executive of one of the joint ventures mentioned above, who spoke on condition of anonymity, added: "It will curb imports." Bhel has been facing competition from Chinese power generation equipment manufacturers such as Shandong Electric Power Construction Corp., Shanghai Electric Group Co. Ltd, Dongfang Electric Corp. Ltd and Harbin Power Equipment Co. Ltd, both in the domestic and overseas markets. Equipment makers, much like other exporters from China, benefit from low interest rates and an undervalued currency. Power utilities have placed orders for overseas equipment largely because of the inability of local manufacturers to meet growing demand. Chinese equipment is also relatively cheaper. While the per-MW cost of completion of a thermal power project using Chinese equipment is around Rs. 3.5-4 crore, it works out to Rs. 4.5-5 crore for projects using other equipment. http://www.ukibc.com/news_and_media/news/govtmaylevyimportduty.aspxWed, 28 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/govtmaylevyimportduty.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/news/govt_clears_fdi_proposals_from_7_media_cos.aspxMon, 14 Jun 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/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/news/govt_more_overseas_it_units.aspxFri, 11 Jun 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/govt_more_overseas_it_units.aspx NEW DELHI: The Indian economy will achieve near 8 percent growth in the current financial year despite the global slowdown, while lowering inflation remains a challenge in the short term, Prime Minister Manmohan Singh said in a statement on Tuesday. "Despite the global slowdown, we will still achieve a growth rate of close to 8 percent this year," the statement said… ( Read more ) http://www.ukibc.com/news_and_media/news/growing_economy_121011.aspxWed, 12 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/growing_economy_121011.aspxInvestors and financial types need to stop waiting for the next financial "big bang" in India, says Deepak Parekh, chairman of financial conglomerate, HDFC Group, and an informal adviser to the government. Read more http://www.ukibc.com/news_and_media/news/indiabigbang.aspxMon, 13 Dec 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/indiabigbang.aspxMumbai: India is expected to grow faster than China over the next couple of years and is estimated to be a US$ 30 trillion economy by 2030, according to a Standard Chartered Bank report. Read more http://www.ukibc.com/news_and_media/news/indiachinagrowth.aspxTue, 16 Nov 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/indiachinagrowth.aspxNew Delhi: India's rank in the International Monetary Fund (IMF) will improve to the eighth position from the current eleventh in terms of quota, after the G-20 grouping reached agreement on October 23, 2010 on proposals to reform the IMF's quota and governance system. Read more http://www.ukibc.com/news_and_media/news/indiaimf.aspxMon, 25 Oct 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/indiaimf.aspx Prime Minister Manmohan Singh expanded his Council of Ministers last week. Praful Patel is the new Heavy Industries and Public Enterprises minister, Sriprakash Jaiswal, the mew Coal Minister, Salman Khurshid gets Water Resources and Minority Affairs, while Vilasrao Deshmukh will lead the Rural Development and Panchayati Raj ministry. Murli Deora has moved from Petroleum ministry to Corporate Affairs and CP Joshi is the new Road Transport and Highways Minister. Sharad Pawar will handle the Agriculture and Food Processing Industries portfolio. Kamal Nath gets Urban development. To see the full list, see below Ministers whose portfolios have been changed: Cabinet ministers: Sharad Pawar: Agriculture and Food Processing Industries Virbhadra Singh: Micro, Small and Medium Enterprises Vilasrao Deshmukh: Rural Development and additional charge of Panchayati Raj S Jaipal Reddy: Petroleum and Natural Gas Kamal Nath: Urban Development Vayalar Ravi: Overseas Indian Affairs and additional charge of Civil Aviation Murli Deora: Corporate Affairs Kapil Sibal: Human Resource Development and additional charge of Communications and Information Technology BK Handique: Development of North-Eastern Region CP Joshi: Road Transport and Highways Kumari Selja: Housing and Urban Poverty Alleviation and additional charge of Culture Subodh Kant Sahay: Tourism Dr MS Gill: Statistics and Programme Implementation Pawan Kumar Bansal: Parliamentary Affairs and additional charge of Science and Technology and Earth Sciences Minister of State (Independent Charge): Dinsha Patel: Mines Ministers of State: E Ahamed: External Affairs Harish Rawat: Agriculture and Food Processing Industries V Narayanasamy: Parliamentary Affairs and Personnel, Public Grievances and Pensions and Prime Minister's Office Gurudas Kamat: Home Affairs A Sai Prathap: Heavy Industries and Public Enterprises Bharatsinh Solanki: Railways Jitin Prasada: Road Transport and Highways Mahadev S Khandela: Tribal Affairs RPN Singh: Petroleum and Natural Gas and Corporate Affairs Tusharbhai Chaudhary: Road Transport and Highways Arun Yadav: Agriculture and Food Processing Industries Pratik Prakashbapu Patil: Coal Vincent Pala: Water Resources and Minority Affairs http://www.ukibc.com/news_and_media/news/indiancabinetreshuffle.aspxSat, 01 Jan 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/indiancabinetreshuffle.aspxIn an interview with ET Now, Nirmal Jain, Chairman, IIFL, talks about the IIFL Enterprising India Conference 2011 & shares his outlook for the market. Read more http://www.ukibc.com/news_and_media/news/indiasurpasschina.aspxFri, 11 Feb 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/indiasurpasschina.aspxIndia's wealth has tripled to $3.5 trillion in the last decade, says the Global Wealth Report launched by Credit Suisse Research Institute. The report also said that by 2015, India's wealth could double to around $6.4 trillion. Contrary to popular belief, the report noted that India's wealth distribution was skewed towards the lower end of the wealth pyramid. The proportion of adults holding $100,000 in India was very small - 0.4 per cent. read more http://www.ukibc.com/news_and_media/news/indiawealth.aspxTue, 12 Oct 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/indiawealth.aspxBANGALORE, India, October 19, 2011 /PRNewswire/ -- Technology Value Accelerators portfolio to be 300+ across the enterprise value chain by 2012 Infosys BPO Ltd, today stated on the eve of their annual client event "Colloquium" that they have made significant progress and built momentum on their strategic initiative of building highly functional Technology Value Accelerators (TVA). These TVAs enable clients realize significant business value across outsourced processes in the enterprise value chain. Each TVA creates a business value multiplier by bridging the white spaces in the outsourced business process technology cusp. Along with the traditional value levers of process re-engineering, harmonization, lean & six sigma, analytics and decision accelerators, Infosys BPO has built a portfolio of innovative TVAs, enabling a paradigm shift in the delivery of BPO services. The TVAs enable swifter roll outs of new engagement models like "business process on cloud" and help accelerate speed of implementation and realize business value swiftly. "Our DNA and ability to innovate and leverage technology is helping us deliver comprehensive business value to our clients, and is contributing to the agility with which clients are now able to roll out their new products and services in new markets. This business value multiplication for clients is clearly moving the needle from transaction effectiveness to transformation multiplier in the outsourcing journey of our clients. In a relatively short period of time, these TVAs now contribute to approximately 16% of our portfolio of services. We continue to pioneer the use of technology for driving business value across the spectrum of enterprise services," said Swami Swaminathan, CEO and MD, Infosys BPO. He further added, "This focus on technology-led business value acceleration has allowed clients, depending on their current state on the outsourcing value realization curve, to generate significantly higher business value gains than what they would otherwise have achieved had they used only the traditional outsourcing value levers. The technology accelerators enable automation, efficiency and user-experience enhancement, reduced turnaround time, enhanced self-service, reduced exception handling, straight through processing, end-to-end query resolution, along with a host of other process effectiveness improvements." "Infosys currently has a portfolio of 150+ accelerators in the F&A area alone which have been used extensively by our clients. More than 50% of our client portfolio today benefits from leveraging TVAs for realizing accelerated business value. The technology accelerators built by Infosys BPO complement existing technology investments (ERP or Best of Breed) made by our clients, and help bridge the gaps and catalyse business value delivery. While a lot of our TVAs are built in-house, there is also good leverage wherever appropriate of our partner and alliance ecosystem," said Anantha Radhakrishnan, Vice President and Head, Business Transformation and Technology Services, Infosys BPO. About Infosys BPO Infosys BPO Ltd. (http://www.infosysbpo.com), the Business Process Outsourcing subsidiary of Infosys Limited, was set up in April 2002. Infosys BPO focuses on integrated end-to-end outsourcing and delivers transformational benefits to its clients through reduced costs, ongoing productivity improvements, and process reengineering. Infosys BPO operates in India, the Czech Republic, China, the Philippines, Poland, Mexico, USA and Brazil and as on September 30, 2011 employed approximately 20,617 people. It closed FY 2010-11 with revenues of $426.8 million. About Infosys Ltd. Many of the world's most successful organizations rely on the 142,000 people of Infosys to deliver measurable business value. Infosys provides business consulting, technology, engineering and outsourcing services to help clients in over 30 countries build tomorrow's enterprise. For more information about Infosys (NASDAQ: INFY), visit http://www.infosys.com Safe Harbor Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2011 and on Form 6-K for the quarters ended June 30, 2010, September 30, 2010 and December 31, 2010.These filings are available at http://www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company. Read the full article on PR Newswire website http://www.ukibc.com/news_and_media/news/inforsys-bpo-leverages-technology.aspxWed, 19 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/inforsys-bpo-leverages-technology.aspx London Hungry Zone, the Bangalore-based online food ordering and table reservation Web site, has been taken over by Britain's Just-Eat, in a deal that could see the service rapidly expanding across the country. Read more http://www.ukibc.com/news_and_media/news/justeat.aspxFri, 14 Jan 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/justeat.aspx India is the top international priority in the latest and ambitious expansion plan of British retail firm Marks and Spencer. While growing in the U.K. is the company's foremost priority, laying the foundations for future growth international is also a key ingredient of the up to 950 million pound capital expenditure plan, Chief Executive, Mr Marc Bolland, told a conference call. "We have done customer research and spoken to our partners. We have a great opportunity in India to grow market share," he said. Read More http://www.ukibc.com/news_and_media/news/mandsindia.aspxWed, 10 Nov 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/mandsindia.aspxTraffic in most cities and towns is slowly and steadily becoming unmanageable. Jams are a regular affair, poor road etiquette common, motorcycles overspeeding and overtaking from the wrong direction and blinding glare at night a daily occurrence. Adding to this, the number of four and two-wheelers will only increase, reflecting the state of the economy. In view of the above, a de novo look at infrastructure and all its facets is a must. Future mobility plans for towns and cities - be it in the hills of Shimla and Mussoorie, or the plains of Chandigarh and Dehradun - are lacking and the reasons are many. Whereas traffic is growing by the day, the current method of road widening is not very efficient as it brings quick returns to all, but does not cater to long-term growth. The current method has a major shortcoming in that it does not keep in mind exponential growth, which all towns face due to migration. It must therefore be crafted anew. Interestingly, there are many suggestions but with the gestation period for such massive projects being long, and the fruits not being easily available in one term, it discourages those who seek quick results. Moreover, such projects are expensive and the massive spending on them is based on a trust deficit. The Opposition gets a stick to beat the other side with when out of power and most such projects remain stuck on the drawing board. Some time ago, in these very columns, mass transit systems were discussed for both Chandigarh and Dehradun. There is an urgent requirement for such systems, especially for hill stations such as Shimla, Nainital and Mussoorie. The recent earthquake in Sikkim has shown that depending upon a single means of communication in the border areas is strategically unviable. Earthquakes as well as heavy rains before the campaigning season last year in Uttarakhand were also a nightmare. Thus there has to be a combination of means - railways, forward airfields with day and night capability, helipads and cable cars - to make it a complete system. There have been reports that certain railway lines are not economically viable; was the Peking-Lhasa railway line an economic viable project? As far as airports are concerned, the Kumbh Mela put Uttarakhand on the International tourist map, yet an International airport for the State has not yet been established to build up on these gains, showing a totally lackadaisical attitude of the Government. It should be the endeavor of planners that the means of communication infrastructure is so good that States depending upon tourism are able to discourage tourists coming by their own vehicles, which leads to overcrowding. If tourists do come, then they should be taxed heavily on entry and provided such excellent mass transit means that they are forced to park their own vehicles and enjoy the hassle-free ride. The Delhi Metro is one such example. A mass transit system like a Metro in Chandigarh or a monorail in Dehradun will work wonders and cut down on traffic as also ensure minimum noise and carbon pollution. The monorail should be intercity to reduce traffic and intracity from Haridwar to Rishikesh airport and connected to the upcoming project of cable car from Rajpur to Mussoorie. For those coming from Punjab and Himachal, it should be connected at Ponta Sahib. This will allow ease of movement among tourists and an excellent means of communication. It is the hill stations that need the rapid transport support system, which has been featured in the BBC and is installed at Heathrow Airport at London. This system is on an elevated track and has a personalised service. The vehicle can seat six to eight and is centrally controlled by a network of computers, keeping tabs on each and every vehicle. There are reports that Shimla is likely to try out such a system and if that happens, then more and more tourists will be heading there in the foreseeable future. According to reports, the elevated system works best in congested areas and requires minimum space. It's estimated cost is in the region of Rs 45 crore per km and the requirement in Mussoorie and Nainital may not be more than a couple of kilometres each for initial deployment in the core areas. Juxtaposed with a cable car from Rajpur or Purkal, it will be a tourist's delight and will also ensure that the hills remain carbon-free. There are reports that Delhi-based Urban Mass Transit Company is preparing a detailed report for Shimla. Uttarakhand too needs to look at the future for a holistic look at its infrastructure. Read the full article on The Pioneer website http://www.ukibc.com/news_and_media/news/mass-transit-systems-crucial.aspxSun, 16 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/mass-transit-systems-crucial.aspx MUMBAI: Ultra-luxury car-maker Rolls-Royce Motor Cars today launched a new variant of its Ghost model at a starting price of Rs 3.05 crore to tap the growing luxury car market in the country… "Demand for luxury cars is growing in India and we want to tap the market with the launch of the new Ghost model," Rolls-Royce India Business Development Head, Mr Herfried Hasenoehrl said... ( Read more ) http://www.ukibc.com/news_and_media/news/new_rolls_india061011.aspxThu, 06 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/new_rolls_india061011.aspxNew Delhi: The domestic passenger car sales grew by 20.79 per cent to 1,61,497 units in November 2010 as compared to 1,33,703 units in the same month in 2009. Read more http://www.ukibc.com/news_and_media/news/passcarsales.aspxFri, 10 Dec 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/passcarsales.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/news/pmsharma01.aspxTue, 29 Jun 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/pmsharma01.aspxIn an interview with ET Now, Prakriti Sofat , regional economist, Barclays Capital , shares his outlook for the emerging and OECD markets with a special reference to Indian markets. Read more http://www.ukibc.com/news_and_media/news/prakritisofat.aspxWed, 12 Jan 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/prakritisofat.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/news/prime_minister_and_business_secretary_welcome_700.aspxWed, 28 Jul 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/prime_minister_and_business_secretary_welcome_700.aspxBritish consumer goods firm Reckitt Benckiser (RB.L) agreed to buy privately-held Indian ointments and personal care company Paras Pharmaceuticals for about $726 million, beating off rivals and paying a steep price for more access to a fast-growing market. Read more http://www.ukibc.com/news_and_media/news/reckittbenckiser.aspxMon, 13 Dec 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/reckittbenckiser.aspxHyderabad: Dr Reddy's Laboratories Ltd has signed an agreement with GlaxoSmithKline Pharmaceuticals Ltd (GSK), one of the world's leading research-based pharmaceutical and healthcare companies, to buy the latter's oral penicillin manufacturing facility at Tennessee in the US. Read more http://www.ukibc.com/news_and_media/news/reddygsk.aspxThu, 25 Nov 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/reddygsk.aspxUKIBC member RSG Consulting published a report on India. To read a summary, click here http://www.ukibc.com/news_and_media/news/rsgindia.aspxThu, 30 Sep 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/rsgindia.aspxMumbai: The Securities and Exchange Board of India (SEBI) has notified the increase in the retail investment limit to Rs 200,000 (US$ 4,423) in initial public offers (IPOs). The new norms will be applicable to those issues that have yet not been opened for subscription. Read more http://www.ukibc.com/news_and_media/news/sebirise.aspxTue, 16 Nov 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/sebirise.aspx A LANDMARK memorandum of understanding has been signed to promote two-way trade and investment between the Solent region and one of India's fastest growing cities. The Southampton India Business Network (SIBN) signed the agreement with the Indian-based British Business Group (Pune Chapter) during its first trade mission to India. It will cover a range of markets and sectors in and around Pune, a city with a population of five million near India's west coast, with booming industries in IT, engineering, autos and education services, and a university of 650,000 students… ( Read more ) http://www.ukibc.com/news_and_media/news/southampton_trade_131011.aspxThu, 13 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/southampton_trade_131011.aspx Asia CEO says he is delighted with the freedom given to foreign banks. Standard Chartered Bank is set to become the first foreign bank to take the subsidiary route in India. The bank has 94 branches in India - the highest among foreign banks. Citibank, which comes next, has around 60 branches. Read more http://www.ukibc.com/news_and_media/news/stanchartsubsidiary.aspxWed, 02 Feb 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/stanchartsubsidiary.aspxDUBAI: UK-based Swire Oilfield Services, a leading supplier of offshore cargo carrying units (CCU) and modular systems, has announced the establishment of an Indian incorporated entity, headquartered in Mumbai, the first of its kind in the country. Read more http://www.ukibc.com/news_and_media/news/swireoilfieldservices.aspxTue, 25 Jan 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/swireoilfieldservices.aspxOct 20, 2011 (Datamonitor via COMTEX) -- NEC Corporation has announced an agreement with Tata Teleservices Limited, or TTL, an Indian telecom service operator, to deploy NEC's iPASOLINK platform for the transformation of TTL's backhaul mobile transport network. The iPASOLINK provides customers with a mobile transport network that can be adapted for next-generation IP-based networks, while meeting the current capacity and service demands of customers, the company said. "NEC Corporation is one of our key suppliers of Microwave Equipment, having a total installed base of more than 100,000 terminals. NEC has been associated with TTL for many years, providing microwave equipment and services for our CDMA and GSM network rollouts. TTL is now in the process of expanding its network for both coverage and capacity in the mobility and enterprise business segments, which will require backhaul of both TDM and IP traffic. Our requirements, therefore, necessitate the deployment of Hybrid Radio in the network. NEC's iPASOLINK platform fully meets these requirements and can be adapted for Next-Generation IP-based networks," said Mr AG Rao, Executive President, Enterprise Business and Technology, TTL. The iPASOLINK is designed to support the transition from today's hybrid TDM and Ethernet backhaul towards full IP transport. iPASOLINK's modular architecture allows operators to optimize their network strategies and to gradually invest in step with actual service and traffic demands. http://www.datamonitor.com Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Datamonitor shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon Read the full article on Health Tech Zone website http://www.ukibc.com/news_and_media/news/tat-teleservices.aspxThu, 20 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/tat-teleservices.aspxTata Motor Ltd.'s foreign gamble hit the jackpot as India's auto giant reported a more than 100-fold jump in the July-September quarter consolidated net profit late Tuesday, largely driven by Jaguar-Land Rover sales. Tata Motors' consolidated profit soared to 22.23 billion rupees ($502 million) up from 217.8 million rupees a year ago. Sales for the quarter rose 37% to 285.73 billion rupees. Read more http://www.ukibc.com/news_and_media/news/tatagamble.aspxThu, 11 Nov 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/tatagamble.aspx LONDON: Tata Steel will invest £2 million in creating a facility to manufacture jacket foundation structures for wind turbines at its Hartlepool tube plant in the UK, a move that will step up its presence in the renewable energy market. "Growing activity in the renewables sector will require large volumes of jacket fabrications for wind tower structures," Tata Steel said in a statement on Monday. The facility is expected to be ready in Spring 2012… ( Read more ) http://www.ukibc.com/news_and_media/news/tata_invest_111011.aspxTue, 11 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/tata_invest_111011.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/news/the_india_way.aspxFri, 18 Jun 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/the_india_way.aspx LONDON: The Trium Executive MBA class of 2012 have raised thousands of dollars from their classmates and employers to invest in social enterprise initiatives around the world. Trium is one of the world's top EMBAs - MBAs for working managers - and the degree is awarded by three business schools, the Stern school at New York University, HEC in Paris and the London School of Economics… The first project is Hand in Hand India, which focuses on eliminating child labour and empowering women. The chief executive, Dr Kalpana Sankar, is a Trium participant… ( Read more ) http://www.ukibc.com/news_and_media/news/trium_socenterprise_131011.aspxThu, 13 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/trium_socenterprise_131011.aspxNEW DELHI: Britain wants India to open up retail sector and further liberalise defence and financial services to promote economic growth and deal with the food security problem. Read more http://www.ukibc.com/news_and_media/news/ukfdi.aspxMon, 17 Jan 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/ukfdi.aspxBritain is set to make a renewed pitch for making greater investment in India's infrastructure sector which requires $1-2 trillion over the next few years when British Business Minister Vince Cable comes in New Delhi on a three-day visit next week. Read more http://www.ukibc.com/news_and_media/news/ukinfrastructure.aspxMon, 17 Jan 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/ukinfrastructure.aspx LONDON: Andrew Mitchell has secured an agreement to provide aid to India over the next four years, in a move likely to trigger disquiet among some Conservative MPs. The international development secretary has agreed a package involving private sector partnerships and the use of loans and small investments as seed capital alongside efforts to support maternal health, sanitation and family planning in three Indian states… ( Read more ) http://www.ukibc.com/news_and_media/news/uk_aidpackage_121011.aspxWed, 12 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/uk_aidpackage_121011.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/news/youths_make_indias_earners.aspxFri, 06 Aug 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/youths_make_indias_earners.aspx NEW DEHLI: Domestic car sales registered its steepest monthly decline in over 10 years in October, plunging 23.77 % on the back of huge drop in output by the country's largest carmaker Maruti Suzuki due to labour unrest, coupled with high interest rates and high fuel prices. This is the fourth consecutive decline in car sales on a year-on-year basis since July. Auto manufacturers sold 138,521 cars last month, according to auto industry body Siam, with petrol car sales being the biggest casualty… ( Read more ) http://www.ukibc.com/news_and_media/news/101111_carsales_fall.aspxThu, 10 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/101111_carsales_fall.aspx NEW DEHLI: Comprising over 31,000 institutions, the higher education system in India needs an investment of R10 lakh crore by 2020 to create an additional capacity of 25 million seats. The private sector, which accounts for 52% of the total enrollment, would invest R50,000 crore of this per year. These are the findings of the annual Ficci-Ernst &Young report, which also reveals that the compound annual growth rate (CAGR) of the number of institutions at 11% is faster than that of student enrollments of 6%. In fact, more than 5,000 colleges have been added in the last one year alone… ( Read more ) http://www.ukibc.com/news_and_media/news/101111_higheredu_funding.aspxThu, 10 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/101111_higheredu_funding.aspx BANGALORE: The world's largest retailer Walmart which is playing catch-up with online retailer Amazon in trying to improve how its customers buy on the Internet, will start its innovation lab in India to drive its next generation of innovations that impact shopping behavior. The $ 422 bn company, has already started hiring for this in India and the 100-person lab will be up and running the end of this year, a top company executive told ET on Wednesday… ( Read more ) http://www.ukibc.com/news_and_media/news/101111_walmart_innovation.aspxMon, 07 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/101111_walmart_innovation.aspxThe 12th EU (European Union)-India Summit, to be held on February 10, would take stock of the progress so far in negotiations between both the sides on the ambitious free trade agreement (FTA). It would also discuss other bilateral issues concerning economic cooperation between India and the EU, climate change, energy and science and technology. Read more here Discuss here http://www.ukibc.com/news_and_media/news/120207_eu-india.aspxThu, 09 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120207_eu-india.aspxOnline fashion and lifestyle retailer Myntra.com has raised $20 million in its third round of funding led by Tiger Global, bringing the total amount of funding received by the company to $39 million. Read more here Discuss here http://www.ukibc.com/news_and_media/news/120209_fashion_retailer.aspxThu, 09 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120209_fashion_retailer.aspxIndia's inflation rate fell to a two-year low of 6.55% in January, pulled down by slumping food prices prompting economists to predict that Reserve Bank of India may slash interest rates in its monetary policy review next month. Wholesale price index-based inflation was 7.47% in December. Read more here Discuss here http://www.ukibc.com/news_and_media/news/120214_inflation_dips_to_2-year_low_of_6_in_ja.aspxThu, 16 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120214_inflation_dips_to_2-year_low_of_6_in_ja.aspxAfter turning urban Indians into mall-rats, the Big Daddies of retail are wooing India's growing population of Internet users for additional revenues. Almost all major retailers have in the last six-eight months launched or are in the process of launching their online business. Read more here Discuss here http://www.ukibc.com/news_and_media/news/120214_retail.aspxTue, 14 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120214_retail.aspxThis month Rider Levett Bucknall has secured a further two cost consultancy contracts out of its Mumbai office, which opened in autumn 2011, to maximise opportunities in India. The firm has been appointed as quantity surveyor to the £1m office fit out for the global securities and investment banking group Jeffries International at its Bandra Kurla Complex (BDC) location in Mumbai. Its second appointment has been made by Zeus Development Corporation. The Rider Levett Bucknall team will work on an initial feasibility study for a retail complex in Bangalore. The contracts on all projects will be completed by June 2012. Click here to read the full press release Click here to discuss Click here to go back to the Newsletter http://www.ukibc.com/news_and_media/news/120220_rlb.aspxTue, 14 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120220_rlb.aspxIndian IT and insurance firms among others will benefit as New Delhi has agreed to open up its huge government procurement market to European firms on the condition that Indian companies will get reciprocal access to the European government contracts. Read more here Discuss here http://www.ukibc.com/news_and_media/news/120222_govt_procurement_to_be_opened_to_european_c.aspxWed, 22 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120222_govt_procurement_to_be_opened_to_european_c.aspxThe country plans to have a nuclear power generation capacity of 63,000 MW in the next 20 years as atomic power is advantageous in terms of transportation and storage, Power Minister Sushilkumar Shinde said today. Read more here Discuss here http://www.ukibc.com/news_and_media/news/120222_india_plans_63000_mw_nuclear_power_capacity.aspxThu, 23 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120222_india_plans_63000_mw_nuclear_power_capacity.aspx Recently, a leading software company was proposing to invest aggressively in India as part of its growth strategy. Particularly, the company had significant experience in providing software for use in the aeronautical and defense industries across 6 countries, and, as a result of the Indian government's sharp increase in aeronautical and defense spending, the company invested millions of pounds. Such was its belief in the potential of the opportunity, the company was hopeful of achieving breakeven in its first year of operation in India. Though the company had experience in the relevant industries, they lacked exposure to the Indian market and its intricacies. In order to ease its entry into the country, the company hired a retired chief engineer of one of the key government establishments in India to coordinate and handle the sales/service function to the Indian government authorities. This individual spearheaded the company's Indian activities and had at least 4 retired officers from key defence establishments working with him on behalf of the company. In the first year of operation the company's Indian business earned significant revenues and booked profits that were well above their budgets. However, its global financial analysis team indicated to the Board of Directors that the overhead trends in India did not match with relevant trends within the industry and the company itself in other countries. Particularly, three key expenses (Commissions, Consultancy Charges, and Employee Costs) were contributing to approximately 60-70% of the company's overheads. As a result of these irregularities, the company's internal audit team was assigned to review the relevant overheads to assess the reasons for such excessive costs. The review revealed the following: - Commissions were paid to agents in India for coordinating with government agencies in order to obtain tenders and other documentation. The percentage of commissions paid as part of these transactions was extraordinarily high and almost all the agents involved were individuals or sole proprietorships and not corporates. - Consultancy charges were paid to overseas consultants from Russia and South Africa for product customisation and training to suit the needs of the customer. However, the company had not invested in such enhancements/customisations in any other countries. - The company had more staff than necessary in India and the benefits paid for the key personnel, including the 5 retired government officers, were substantially higher than the market standards. The internal audit team subsequently updated the company's Board, compliance team, and senior management on issues in India highlighted above. Based on the advice of the Board and the internal audit department, the compliance department conducted a detailed review of select transactions as well as due diligence of select vendors, employees, and third parties in relation to each of the above findings in order to assess whether there was a risk that the company was failing to meet its legal and regulatory obligations. The compliance review highlighted that a number of agents and employees who were being paid by the company did not actually exist. Also, consultancy charges paid to the Russian and South African consultants were paid to bank accounts in Switzerland and the United Arab Emirates although these consultants did not appear to have operations in either of those countries. Further, investigation and interviews with select employees managing the Indian operations revealed that bogus agents/consultants and ghost employees were used to generate "slush funds" for potential payments to government officials with whom the company was working. This exposed the company to serious regulatory implications with fines, penalties, cancellation of contracts and imprisonment of 3 of the key executives including one for lack of appropriate oversight On the whole, the case indicates the following critical red flags: - Lack of sufficient tone at the top and communication - Lack of appropriate vendor/ third party due diligence and - Lack of adequate mechanisms to identify and prevent such unethical practices These red flags are common for UK companies having operations in India and vice versa and may result in regulatory risks of unreasonable magnitude. To protect and avoid undesirable regulatory consequences, companies must demonstrate that it had "adequate procedures" in place to prevent bribery and corruption. http://www.ukibc.com/news_and_media/news/anticorruption.aspxWed, 15 Sep 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/anticorruption.aspx There was a lot of anticipation surrounding the flight from Las Vegas to London. We had already flown on British Airways' Business and First Class to LA and this return leg of the journey on a Boeing 747-400 aircraft was meant for us to experience the airline's new First Class, which it has been rolling out on its flights throughout this year. The new First makes a regular appearance on the airline's flights to Tokyo, Mumbai, Delhi, Sydney, Singapore, Shanghai and New York. While BA's Business Class wasn't really different from any other airline, the experience in BA's previous First Class cabin was much more comfortable - lots of space, completely reclining beds and a personal video. So what could the new First offer that would be better? ( Read more ) http://www.ukibc.com/news_and_media/news/ba1stclass_review_211011.aspxFri, 21 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/ba1stclass_review_211011.aspxMumbai: Banks will have to take prior approval from the Reserve Bank of India (RBI) before floating or investing in non-financial companies. Read more http://www.ukibc.com/news_and_media/news/banknonfinancial.aspxThu, 04 Nov 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/banknonfinancial.aspxLONDON: Indian company Bhushan Power & Steel Group is planning a 450 million pound ($710 million) flotation next year after appointing investment banks JPMorgan Chase and Credit Suisse to oversee it, British newspaper Mail on Sunday reported. Read more http://www.ukibc.com/news_and_media/news/bhushanpowersteel.aspxMon, 06 Dec 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/bhushanpowersteel.aspxNew Delhi: Cairn India Ltd and its partner ONGC Ltd plan to enter the second phase of exploration in the discovered Krishna-Godavari (KG) basin onshore block early next year. Cairn had discovered oil and gas in its East Coast block in August 2010. Read more http://www.ukibc.com/news_and_media/news/cairnphasetwo.aspxThu, 25 Nov 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/cairnphasetwo.aspxEngland were beaten to second place in the Commonwealth Games medals table by India at the very last opportunity as the 2010 Games in Delhi closed. Read more http://www.ukibc.com/news_and_media/news/commonwealthgames.aspxThu, 14 Oct 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/commonwealthgames.aspx New Delhi, Oct. 17: The Central Board of Direct Taxes (CBDT) has invited comments and suggestions from stakeholders on the proposed tax accounting standards (TAS) on construction contracts and government grants. The drafts of the TAS on these two issues were released today. A committee constituted by the CBDT in December last to study the harmonisation of the accounting standards issued by the CA institute with the direct tax laws in India has recommended the draft of these two TAS. The drafts of the other TAS would be issued in due course, the CBDT has said. The CBDT committee, comprising departmental officers and professionals, had submitted its interim report in August. This committee has also been tasked to suggest appropriate amendments to the income tax law in view of transition to IFRS (IND AS) regime. The interim report has recommended that accounting standards notified under the income tax law should be made applicable only to the computation of taxable income and a taxpayer should not be required to maintain books of account on the basis of accounting standards notified under the income tax law. As two different sets of accounting standards may cause confusion for taxpayers and other stakeholders, the committee has suggested that the accounting standards notified under the Income Tax Act should be termed as "tax accounting standards". krsrivats@thehindu.co.in (This article was published in the Business Line print edition dated October 18, 2011) http://www.ukibc.com/news_and_media/news/draftsoftax.aspxMon, 17 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/draftsoftax.aspx NEW DELHI: India is hopeful of concluding a comprehensive free trade agreement with the European Union (EU) in the near future, as the negotiations are in advanced stage with the 27-nation bloc. "We are in the final stage... We were hoping to achieve it this year and I remain hopeful that we will able to do it within the next few months," Commerce and Industry Minister Anand Sharma said here on Thursday… ( Read more ) http://www.ukibc.com/news_and_media/news/euindia_fta_171011.aspxMon, 17 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/euindia_fta_171011.aspx Normal 0 0 1 102 582 4 1 714 11.1287 0 0 0 MUMBAI: Private equity giant Blackstone-controlled apparel exporter Gokaldas Exports is set for new business contracts with the world's largest retailer Wal-Mart and niche European fashion houses who are shifting a part of their sourcing requirements from China to other Asian markets. Wal-Mart Stores Inc is expected to land a six million pieces annual order while making it one of the largest clients for the Bangalore-based Gokaldas, said a company executive on condition of anonymity. German outdoor and leisure clothier Jack Wolfskin, US-based Sports Authority Inc and Tailor Vintage are some of the fashion enterprises that are talking to the Indian exporter as they seek wider sourcing footprint... ( Read more ) http://www.ukibc.com/news_and_media/news/gokaldas_wmcontract_281011.aspxFri, 28 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/gokaldas_wmcontract_281011.aspx India's stocks climbed to a record close for a second straight day in a shortened trading session, as investors increased their holdings amid expectations the nation's economic growth will boost corporate earnings. Read more http://www.ukibc.com/news_and_media/news/indiastockhigh.aspxFri, 05 Nov 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/indiastockhigh.aspxNEW DELHI: India and the UK can more than double their bilateral commerce to USD 24 billion in the next five years by increasing trade and investment cooperation in sectors like energy, sciences and IT, a FICCI-Grant Thornton survey said today. Read more http://www.ukibc.com/news_and_media/news/indiauktrade.aspxWed, 17 Nov 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/indiauktrade.aspx JAKARTA: India today said it is looking to conclude the proposed comprehensive free trade pact with the European Union (EU) this year, as the negotiations are in advanced stage with the 27-nation bloc. Commerce and Industry Minister Anand Sharma, who is here on a three-day visit, said "I am not looking at next year, I might rather look at this year...I remain optimistic. We will be able to conclude it (the negotiations) this year"… To read the full article, click here http://www.ukibc.com/news_and_media/news/india_eu_fta051011.aspxWed, 05 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/india_eu_fta051011.aspx At the end of this month, India will attempt to do what China did with the 2008 Beijing Olympics: re-launch itself onto the global stage with a truly international sporting event - the inaugural Indian Grand Prix. Just as China used the Olympics to show the world that it had arrived as an economic powerhouse - that opening ceremony was jaw-dropping - India is hoping, after the embarrassments of last year's scandal-plagued Commonwealth Games, that Formula 1 can provide some serious sparkle… ( Read more ) http://www.ukibc.com/news_and_media/news/india_f1_201011.aspxThu, 20 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/india_f1_201011.aspx Foreign airlines may soon have the chance to invest in the burgeoning Indian airline industry - an attractive proposition despite the fact that its currently riddled with debt and competition is fierce. With passenger traffic growing by 15-20 per cent each year, and at least 12 new airports currently in development, foreign carriers are likely to overlook the Indian industry's shortcomings. There's simply too much growth in India for foreign carriers to pass up this chance... ( Read more ) http://www.ukibc.com/news_and_media/news/india_foreignairlins_241011.aspxMon, 24 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/india_foreignairlins_241011.aspx NEW DELHI: This Diwali season, infrastructure conglomerate Jaypee Group will make a bid to be counted among Corporate India's big boys of project execution as the unsettling scream of two dozen Formula One cars ring out loud on the Buddh International Circuit in Greater Noida. On Tuesday, when the F1 hosts threw open the 5.4-km Herman Tilke-designed circuit and associated facilities to the media, the firm's building prowess and Greater Noida's investment potential looked poised to be noticed when a 300-million-strong global TV audience tunes in to the first Indian Grand Prix on October 30… ( Read more ) http://www.ukibc.com/news_and_media/news/india_formula1_191011.aspxWed, 19 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/india_formula1_191011.aspx LONDON: Any recent visitor to West Bengal will tell you about the unquenchable sense of energy on just about every street corner. But I found this to be especially true in the life sciences and healthcare sector with whom I have just spent some time while addressing the CII's Annual Healthcare East Conference in Kolkata... The Indian pharmaceutical sector alone is expected to see growth of 11-14% up to 2013. This is because India has emerged as a hub of drug discovery and development services, growing at more than three and a half times the global rate. There has also been a huge growth in new hospitals and medical infrastructure as well as medical devices. Combined with improving regulatory and IP framework there is no doubt that India is attracting the interest of global healthcare companies... ( Read more ) http://www.ukibc.com/news_and_media/news/india_healthcare_191011.aspxWed, 19 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/india_healthcare_191011.aspx NEW DEHLI: The National Manufacturing Policy was approved by the Union Cabinet on October 25, 2011. The policy aims to create 100 million jobs within a decade and increase the share of manufacturing in the country's gross domestic product (GDP) to 25 per cent by 2022 from the current 15-16 per cent… ( Read more ) http://www.ukibc.com/news_and_media/news/india_manufacturing_271011.aspxThu, 27 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/india_manufacturing_271011.aspx October 10th - After a record fiscal year ending March 2011, Indian companies have slowed their mergers and acquisitions activity, and analysts said the current fiscal's total was shaping up to fall well short of last year's $97.6 bn… Experts told beyondbrics that the drop was due to high domestic interest rates, a lack of available financing, and turmoil in the global economy. But they maintained that interest in the Indian market remained robust, even if big ticket deals had to be postponed amid an uncertain environment… ( Read more ) http://www.ukibc.com/news_and_media/news/india_ma_101011.aspxMon, 10 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/india_ma_101011.aspx MUMBAI: The world's cheapest tablet computer, on sale for as little as $35, has been unveiled in India in the latest attempt by the emerging economy to shift from being a global outsourcing centre to one of frugal innovation for lower-income consumers. Wednesday's launch of the Aakash - which means "sky" in Hindi - is designed to boost e-learning to help India solve its education problems and bridge the digital divide that sees Asia's third-largest economy lag behind its emerging market peers in internet access… ( Read more ) http://www.ukibc.com/news_and_media/news/india_tablet_061011.aspxThu, 06 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/india_tablet_061011.aspx Mumbai: "Lead consumers with innovation instead of following them. The communication of innovation is more important today and companies should encourage new ideas to prosper," R Balakrishnan, chairman and chief creative officer of Lowe Lintas (India), said while speaking at a panel discussion on 'Innovations in India: Is it real or gimmick?' organised by the Product of the Year (India). In his keynote address, Shekhar Gupta, editor-in-chief of The Indian Express, observed that politicians are both innovative and market-savvy. Gupta cited the strategy used by Bihar chief minister Nitish Kumar, who offered to buy bicycles for girl students of class eight. Instead of ordering large number of bicycles, which could have led to a scam, the minister presented them with vouchers once they submitted a confirmation from the school. "The money was reimbursed to the families and through this Kumar introduced the concept of direct cash transfers," Gupta observed. Gupta also pointed out that it was after political parties realised that they would not be voted back unless they performed and became more serious about governing. "For the first 40 years after independence, one party controlled the entire country but we saw just 2.5% growth. But ever since parties have been voted out of power, growth has picked up," Gupta said, adding that politicians did read the writing on the wall. Lynn de Souza, chairman and CEO, Lintas Media Group, said the world is looking at India today as an innovative country and we need to believe in ourselves and take pride in it. "Innovations in India are real. Today media planners are trying to be creative to connect with consumers. I think innovation comes out of adversity," she said, adding that companies need to be able to see innovation through to the last mile. Speaking about the innovative ideas behind the T20 Loyalty Programme, Sandip Tarkas, CEO, Future Media & Future Telecom, spelt out how the company had innovated to create a seamless loyalty card programme. "We realised that the customer notices the loyalty card only when he or she uses it to buy a ticket. So we attached some free talk time to it such that every time he made a call, he was reminded of the loyalty programme." The group, Tarkas said, had tried out many formats like the prepaid programme, but they did not work. "However, the T20 programme now has nearly 3 million subscribers and we have learnt not to always wait for consumer research to dictate our innovations. Larger innovations will happen only when you are ready to fail," he said. Continuous innovation so as to be able to cut through the clutter seems to be the marketing mantra for several of India's consumer products companies. A Mahendran, MD, Godrej Consumer Products, said his company has built many internal design labs to innovate products. "We follow a lot of traditional methods of innovation and have developed many research tools. But we aim to go beyond traditional R&D and for that talent is key," Mahindra said, adding that all launches needed to be in sync with brand architecture and equity. Dwelling on whether India had the ecosystem to innovate and what kind of innovation was happening, Charulata Ravi Kumar, CEO, Product of the Year (India), said the biggest difference between innovation happening in India and the rest of the world was that Indian innovations were specifically tuned to the needs of the consumers. In her view, people around the world are beginning to realise that Indian innovation has come a long way. "More companies need to come forward, locate the gaps and launch innovative products because innovations can thrive only if companies encourage failure," she added. Anupam Mittal, founder of Shaadi.com, felt launching a new product or service in India was not really a challenge. "We can call it an accidental innovation and it can happen to anyone. And once it happens there are challenges and innovations," he said. Lintas' Balkrishnan said that going forward, design should become the focus of the future and is the least innovative right now. "It plays a huge role the world over," he said. Sharing similar views, Ravi Kumar said there was a need to have much larger scale of innovation and a need to encourage free thinking ideation. http://www.ukibc.com/news_and_media/news/innovationneedstobe.aspxWed, 28 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/innovationneedstobe.aspxMumbai: Jain Irrigation Systems Ltd has entered into an agreement to acquire 80 per cent stake in UK-based Sleaford Quality Foods Ltd, an industrial food ingredients supplier. Read more http://www.ukibc.com/news_and_media/news/jainsleaford.aspxThu, 04 Nov 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/jainsleaford.aspx Which Indian city has the best infrastructure, the most attractive culture? In a nation where Nasscom says 90% of all graduates are unemployable, which city produces many times more competent people than it can hire? Which city is our greatest net exporter of talent? Which city will win in 20 years? Kolkata. This is ridiculous, because Kolkata lags Delhi, Mumbai and Chennai and even Bangalore, Hyderabad and Pune in attracting investment. It has no software economy and no financial sector. What industry they inherited, Bengalis have packed off efficiently... ( Read more ) http://www.ukibc.com/news_and_media/news/kolkata_win_211011.aspxFri, 21 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/kolkata_win_211011.aspx DIMAPUR: A team of delegates from Government of Nagaland headed by Imkong Imchen, Home Minister, Toshipokba, MLA, LH Thangi Mannen, Commissioner & Secretary, Industries & Commerce and B. Longkumer, Managing Director, Nagaland Hotels Limited attended the UK INDIA Business Council (UKIBC) at London (United Kingdom) October 14, 2011 on "Opportunities for UK Companies in Eastern and North Eastern India." The interactive session on was graced by Kamal Nath, Union Minister of Urban Development as the guest of honour, where the speakers were Lord Karan Bilimoria, UKIBC President, Pajiv Mundra, Sr. Vice President, Indian Chamber of Commerce (ICC), Right Hon. Greg Clark, UK Minister for Decentralisation & Cities, RN Prasad, acting Indian High Commissioner to UK… ( Read more ) http://www.ukibc.com/news_and_media/news/nagaland_ukibc_181011.aspxTue, 18 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/nagaland_ukibc_181011.aspx Indian Minister for Road Transport and Highways Kamal Nath has invited the British India Roads Group - an industry-led initiative - to join him in Delhi for an interactive workshop with Indian contractors, investors and National Highway Authority officials. The invitation was made by Minister Nath when he attended a private meeting with BIRG on Wednesday, where BIRG presented its recommendations on India's ambitious road programme. The meeting was hosted by the Indian High Commissioner Nalin Suri and chaired by UK India Business Council chairperson Patricia Hewitt. The BIRG report, based on a detailed study of Indian roads procurement, identifies ways in which India could attract more foreign investment in road infrastructure. Welcoming the report, Minister Nath said: "BIRG has been and can be a big use to us. Thank you for investing time in this report - because that is time invested in India's growth." Hewitt added: "Many British firms are already working and investing in India's infrastructure programme. Both countries have world class capabilities but the UK can do more to help provide the capacity that India needs. BIRG is playing a vital role in helping the Indian government and the National Highways Authority to learn from the lessons of international experience and build the best solutions for India." Inherent to the success of the National Highways Development Programme is the ability to attract investment from the private sector, both domestically and internationally through the PPP concept. Such investment will result not only in the initial capital cost of the asset being transferred from the public to the private sector but, more importantly, will achieve savings in cost, increased efficiencies and improved levels of service, operation and maintenance. The National Highways Development Programme has achieved considerable success in attracting interest from domestic investors but could do more to increase its appeal. In order to meet the challenging aspirations of the Programme, and bearing in mind that the capacity of Indian contractors and funders is finite, it is necessary to encourage the active engagement of international funders and contractors. The Proposal identifies how UK companies can add value and assist in the efficient and economic delivery of this exciting and ambitious Highways Programme and thereby attract greater and more effective interest from international investors. Over the past years, the UK has developed a PPP procurement system which has successfully attracted large scale international investment in a wide range of environments. That system has been adapted and applied in various countries globally and at the forefront of that adaptation has been the skills and experience of UK investors, funders, consultants, contractors and operators. "Working in partnership with our Indian business partners, BIRG believes that it can make a real and valuable contribution to the areas namely: funding, procurement strategy, concession arrangements, design, construction, operation and maintenance," said Martin Harman, BIRG and UKIBC member. Amongst other points, the BIRG report proposes that instead of selecting bidders purely based on the lowest annuity payment, the National Highways Authority of India (Authority) could consider defining its affordability level for the proposed project, and then evaluate bids that pass this threshold on the basis of a holistic value-for-money framework. It is also proposed that the total life cost of the project should be considered , not just the construction cost. Competition in the international construction market is exceedingly high and participating contractors need to be able to differentiate themselves in order to provide a best value for money offer which will be of interest to a client. The differentiating factors which an international contractor can bring to a highways project in India are the experience of the latest construction methods, particularly the use of innovation to add value. The meeting identified a very full agenda for detailed discussions at the workshop in Delhi in the near future. ENDS Notes to Editor About BIRG The UK India Business Council launched the UK India Infrastructure Forum (Forum) on 27th January. The Forum's initial focus has been on Roads, in view of Kamal Nath's, the Minister for Road Transport & Highways, wish to scale up the India road building programme, from 2 to 20 kms per day, and his keen interest to engage with UK contractors. The UKIBC formed the British India Roads Group (BIRG), as a sub sector within the Forum, to respond to this road building opportunity. http://www.ukibc.com/news_and_media/news/nath29.aspxFri, 01 Oct 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/nath29.aspxCivil Aviation Minister Vayalar Ravi today said that the government is planning to set up an aviation university with world-class facilities. "To ensure that minimum standards of aviation skills are attained, a national aviation university is proposed to be set up with world-class facilities. We are preparing a project report for this facility," Ravi told the fourth International Civil Aviation Negotiation Conference (ICAN 2011) here today. The conference, being held in the country for the first time, was inaugurated by President Pratibha Patil early today. He said the government is also planning to set up an independent civil aviation authority for administration and regulation of civil aviation safety. Besides, an accident investigation committee is being set up on the lines of the National Transport Safety Board to assist in safety matters. The thrust of the conference is on modernisation of air service agreements (ASAs) by including certain safety clauses, code-sharing guidelines, security and tariff. The meet was attended by 65 International Civil Aviation Organisation member nations and India would negotiate with around 40 nations to amend existing air service agreements. The Indian government is expected to take up with the Swiss delegates the issue of ownership of Swiss International Airline. India's position is that the airline violates substantial ownership and effective control clauses in air services agreement, as it is now controlled by the German airline Lufthansa though the Swiss government has rejected the charge. Currently, the country has bilateral air services agreements with 108 countries and 72 foreign airlines are flying to the country, while three domestic carriers fly to 35 destinations in 25 countries. According to aviation industry sources, domestic private carriers are lobbying with the government to allow them to introduce more flights to Oman, Saudi Arabia and Hong Kong. While countries like the UAE have been demanding that India allow additional seats. Read the full article on Outlook India.com website http://www.ukibc.com/news_and_media/news/national-aviation-univeristy-to-be-set-up-soon.aspxMon, 17 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/national-aviation-univeristy-to-be-set-up-soon.aspx Under OMT contracts, private contractors are allowed to collect tolls on the highways they maintain. These contracts are typically for a concession period of four to nine years. New Delhi: The National Highways Authority of India (NHAI) will seek bids for 3,000-4,000 km of highways for operations, maintenance and tolling (OMT) contracts in the next fiscal year, said J.N. Singh, member (finance), NHAI. This will be in addition to the 2,900 km the authority has already put on the block since August this year. Under OMT contracts, private contractors are allowed to collect tolls on the highways they maintain. These contracts are typically for a concession period of four to nine years. Contractors share a part of the revenue with NHAI as concession fee, which grows 10% annually. At least 80 companies have participated in bids this year, according to Ernst and Young. These include Relcon Infraprojects Ltd, IRB Infrastructure Developers Ltd, Oriental Structural Engineers Pvt. Ltd, Gayatri Projects Ltd and HDPL Infrastructure Ltd, according to the consultancy's data. "The highways in question are those that were laid in the 1990s on a build-operate-transfer (BOT) basis, and whose concession periods have ended," said M. Murali, director general, National Highways Builders Federation (NHBF), an industry lobby. Under BOT financing, a private developer finances, builds the road and maintains it for a specified period in exchange for rights to levy tolls. Murali, however, said NHAI is unlikely to seek bids for 3,000-4,000 km to private contractors. "The figure should be in the range of 2,000 km, as that is the road length that is going off concession next year." NHAI simplified the bidding process this year by allowing companies to submit documents just once in a calender year, instead of asking them to submit these separately for each project. Mint reported on 2 February 2009 that private developers could be allowed to maintain NHAI's highways. When B.C. Khanduri was highways minister (from 2000-2003), the authority had engaged ex-servicemen as toll collection agents on stretches maintained by the agency. NHAI's Singh said discrepancies in revenue collection had occurred over time. By offering contracts for bids, the government will get a fixed income from private contractors, said Murali of NHBF. "The profit or loss, as the case may be, would be borne by the contractor," he said. Abhaya Agarwal, executive director, Ernst and Young, said awarding maintenance contracts to private contractors is beneficial for NHAI as it typically leads to timely execution of projects. Agarwal said the process enhances private participation in the sector, thereby increasing competitiveness as bidders either seek a lower grant or offer a higher concession fee. http://www.ukibc.com/news_and_media/news/nhaitosekbids.aspxTue, 11 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/nhaitosekbids.aspx It is praise worthy weakness of a man to love the places where he played in his childhood, where he was educated, where he dwelt and call back to the mind his childhood pleasure. The recent fears of recession in the west compounded by the growth story in India, as well as the lure of returning to one's own motherland may change the minds of many Indians who have settled abroad to return to India permanently. This may mean that they could be looking at resettling in India by selling their property abroad which they would have acquired whilst being there. This decision may not be just an emotional one but would have to factor other perspectives like taxation, exchange control regulations etc, which may significantly impact the decision of shifting back to India and its timing... ( Read more ) http://www.ukibc.com/news_and_media/news/nri_taxbenefits_251011.aspxTue, 25 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/nri_taxbenefits_251011.aspx MUMBAI: British luxury car marquee Rolls-Royce Motor Cars has announced the creation of a new position of Head, Business Development for India, Sri Lanka and Bangladesh. The first to fill this new post will be parent company BMW's veteran of the Asian markets, Mr Herfried Hasenoehrl. Rolls-Royce, which currently sells the Phantom and Ghost models in the country, also said that it is planning to open a larger showroom in New Delhi shortly... ( Read more ) http://www.ukibc.com/news_and_media/news/rr_businesshead_241011.aspxMon, 24 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/rr_businesshead_241011.aspxSoftware exports would increase by 10.77 per cent in 2010-11 to touch Rs 2,61,200 crore from Rs 2,35,800 crore in 2009-10, the Minister of State for Commerce and Industry, Mr Jyotiraditya M. Scindia, told the Lok Sabha in a written reply, citing data from the software industry body, Nasscom. Read more http://www.ukibc.com/news_and_media/news/softwareexportsrise.aspxFri, 10 Dec 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/softwareexportsrise.aspxMumbai: Standard Chartered has acquired the remaining 25.1 per cent stake from its local partner, the Securities Trading Corporation of India Ltd (STCI). With this, the brokerage entity has become a wholly-owned subsidiary of the Standard Chartered Bank. Read more http://www.ukibc.com/news_and_media/news/stanchart.aspxTue, 19 Oct 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/stanchart.aspxLeading developer in utility scale solar projects SunBorne Energy has joined hands with Europe-based IPP Eoxis Energy for executing the 15 MW solar photovoltaic (PV) project being built in Gujarat. The project is expected to be operational by December 2011 and falls under the solar programme of Gujarat that provides a stable and favourable business environment for the development of renewable energy generation facilities. India has just commenced on an ambitious solar power development programme and one of the key success criteria for developers is to be able to attract equity from both Indian and global investors. According to an official statement here, this is Eoxis' first investment in India and demonstrates its strong commitment to the country. Eoxis has ambitious plans to reach 300 MW of installed capacity in the next three years and intends to make several further investments in wind and solar generation plants. Anil Nayar, CFO of SunBorne Energy, said: "We are excited that an investor of Eoxis's strength has reposed confidence in our company's project. We look forward to strengthening our partnership with Eoxis Energy. More such investments on project basis will reinforce the growth potential of the solar industry in whole," he added. Laurence Mulliez, CEO, Eoxis, said this investment allowed Eoxis to become a significant player in the nascent but fast-growing Indian solar sector. "We believe that central and local governments in India are willing to continue to provide support for the development of this sector and that experienced operators like Eoxis are well placed to play an active role in the development of the industry," he said. Read the full article on The Hindu website http://www.ukibc.com/news_and_media/news/suborne-energy-partners.aspxTue, 18 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/suborne-energy-partners.aspxMobile services provider Tata Teleservices Ltd (TTSL) today said it has partnered with UK-based Meridian Group to launch a QWERT phone, priced at Rs Rs 4,795. Meridian sells mobile handsets under the ''Fly Mobile'' brand in India. The dual SIM phone, which supports both GSM and CDMA services, is equipped with a 5.8-cm screen, 1.3 megapixel camera and memory expandable upto 4GB. Read more http://www.ukibc.com/news_and_media/news/tataindicom.aspxFri, 22 Oct 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/tataindicom.aspx India's youthful population is often touted as a major economic advantage that will accelerate growth. Yet the huge bulge of youth is also a severe challenge for the government - which must ensure the newcomers have the skills to find jobs. So Britain is stepping up to help India improve its vocational training. "Having a surge in your youthful population is a fantastic economic opportunity, but can also, if it's not managed well, destroy the entire socio-political system," David Willets, the UK minister for universities and science, said on a visit to India to deepen bilateral collaboration. Read more http://www.ukibc.com/news_and_media/news/ukhelpstrain.aspxMon, 15 Nov 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/ukhelpstrain.aspxOn 20 January 2010, Mike Nithavrianakis, British Deputy High Commissioner in Southern India, led an Indo-UK business seminar in Coimbatore. The seminar was organised jointly by UK Trade & Investment, the UK government agency that helps to promote international trade, and the Confederation of Indian Industry (CII) Coimbatore Region. Dr Poongothai Aladi Aruna, Minister for IT, Government of Tamil Nadu, delivered the Special Address and Rajeev Ranjan, Principal Secretary, Industries Department delivered the Keynote Address at the seminar at the Hotel Residency. The Rt. Hon. Ms Patricia Hewitt, Chair, UK India Business Council (UKBIC) and a senior Member of Parliament, sopke on "Working with the UKIBC". Ms. Hewitt was the British Cabinet Minister for Trade and Industry and more recently the Cabinet Minister for Health. View video coveragehttp://www.ukibc.com/news_and_media/news/ukindiapartnership.aspxThu, 25 Nov 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/ukindiapartnership.aspx KOLKATA: Tide Water Oil Co (India) Ltd, an Andrew Yule Group company, on Tuesday said that the acquisition of lubricant major Veedol International Ltd, would help it (Tide Water) foray into the global markets. Veedol has presence in a total of 123 markets in the world. Tide Water is planning to market the Veedol brand in markets in the Middle East, German speaking Europe and parts of Latin America like Cuba, Colombia and Mexico... ( Read more ) http://www.ukibc.com/news_and_media/news/veedol_tidewater_261011.aspxWed, 26 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/veedol_tidewater_261011.aspxRecently in Singapore: Spanish apparel major, Desigual, is scouting for partners to enter the Indian market. A prominent brand in Europe, Desigual has existing outlets in West Asia. The company forayed into the "high growth" South East Asian market through Singapore this month. "We will enter India through joint ventures and are on the look out for local partners," Mr Manel Adell, CEO, Desigual, told Business Line on the sidelines of the recently concluded 'Retail Global Connection - The Retail Miracle' in Singapore. Desigual, known for its patchwork designs, is headquartered in Barcelona. The company experienced a phenomenal growth during the last decade and posted a turnover of €435 million (approximately Rs 3,000 crore) in 2010. According to Mr Adell, the partnership between the Indian company and Desigual would be somewhat similar to that between Zara and Trent - the retail arm of the Tatas. This would include a marketing tie-up and a possible joint venture between the two companies. "The idea is to find a strong partner and use their expertise in the market," he said adding that its India strategy would be different from rest of Asia. The company should have a bit more resources in place before entering the India markets, he stressed. South East Asia Foray Having opened shop in Singapore, Desigual is now planning to enter other South East Asian markets including Malaysia, China, Hong Kong, Taiwan in phases. "This is a high growth region. We plan to expand our presence in the region depending on market potential," Mr Adell said. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/spanish-apparel-brand-desigual.aspxWed, 19 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/spanish-apparel-brand-desigual.aspx Mothercare's exposure to the UK high street will be reduced with the focus placed on out-of-town Parenting Centres and online sales. Mothercare blamed exorbitant rents for driving retailers off the high street as it announced plans on Wednesday to shut nearly a third of its UK stores, with the loss of hundreds of jobs. Its chief executive, Ben Gordon, said the decline of high street trading, alongside increased competition from the internet, would force the closure of up to 110 stores in British town and city centres by March 2013. "The UK high street is far from dead, but the rents are massively overpriced," said Gordon. Read the full article on Guardian website http://www.ukibc.com/news_and_media/news/110518mothercaretoclosethirdukstores.aspxWed, 18 May 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110518mothercaretoclosethirdukstores.aspx The new policy focuses on made-in-India software and made-in-India IT With a view to encourage development of IT products in India, Communications and IT minister Kapil Sibal has approached Dept. of IT (DIT) to formulate a National IT Policy and National Electronic Hardware Policy. The National Hardware Policy will focus on all the Electronic products including telecom and IT hardware. Despite being considered as an IT superpower, there is no significant made-in-India software and there is no made-in-India IT and telecom equipment. The new policy aims to address these issues by encouraging the manufacturing of IT products in India. Read the full article on IT Pro India's website http://www.ukibc.com/news_and_media/news/110521-govtformulatesnewitpolicy.aspxMon, 23 May 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110521-govtformulatesnewitpolicy.aspx Mumbai: All large financial groups should adopt a holding company model irrespective of their having a bank or not, a Reserve Bank of India appointed working group has suggested. All new banks and insurance companies, as and when licensed, will also mandatorily need to operate under the Financial Holding Company (FHC) framework, the group headed by the RBI Deputy Governor, Ms Shyamala Gopinath, said. According to the Group, there could be banking FHCs and non-banking FHCs. According to the Group's report, released on Monday, all identified financial conglomerates having a bank within the group also need to convert to the FHC model in a time bound manner. The group has recommended a separate regulatory framework for FHCs and a new Act for regulation of FHCs. Read the full article on The Hindu Business Line's website. http://www.ukibc.com/news_and_media/news/110524-rbisuggestsholdingcompany.aspxTue, 24 May 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110524-rbisuggestsholdingcompany.aspx MUMBAI : Share prices of Cairn India and Tata Steel witnessed positive momentum on the bourses today after both firms reported growth in their respective quarterly net profits. Shares of Cairn India rose by 4.06 per cent to touch an early high of Rs 351.85 on the BSE, while on the NSE, the stock went up by 4.05 per cent to a high of Rs 351.80. Cairn reported a 10-fold jump in quarterly net profit on the back of higher crude oil prices and consistent performance at the nation's biggest onshore oilfield in Rajasthan. Read the full article on Economic Times' website http://www.ukibc.com/news_and_media/news/110526-cairnindiatatasteelshineonbourses.aspxThu, 26 May 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110526-cairnindiatatasteelshineonbourses.aspx New Delhi : Work on the much-delayed dedicated railway freight corridor is expected to begin with contracts worth Rs 10,000 crore to be awarded before the end of the current financial year. The contracts would be for the western arm of the Rs 77,000-crore Dedicated Freight Corridor project. The western arm includes the 1,500-kilometre-long Delhi-Mumbai stretch that is expected to ease and ramp up Indian Railways' freight traffic between Dadri near Delhi and Jawaharlal Nehru Port Trust (JNPT) in Mumbai traversing through Haryana, Rajasthan and Gujarat. "Overall, Rs 10,000-crore bids would be invited by us this year for awarding civil engineering contracts for package I & II of the first phase of the western corridor. This will be followed by bids for awarding electrification and signaling works in six months," said a senior executive of Dedicated Freight Corridor Corporation of India Ltd (DFCCIL), a company set up in 2006 under the aegis of the railway ministry. Read the full article on Business Standard's website http://www.ukibc.com/news_and_media/news/110526govtinvitesbidsforfreight.aspxThu, 26 May 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110526govtinvitesbidsforfreight.aspx New Delhi: In India, the internet contributed five per cent to GDP growth in the past five years as compared with the average three per cent for BRIC (Brazil, Russia, India, China) economies, according to a new McKinsey study. Read the full article on The Business Times' website http://www.ukibc.com/news_and_media/news/110527-indiabeatschinainternet.aspxFri, 27 May 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110527-indiabeatschinainternet.aspx By Richard Heald The Competition Commission of India (CCI) notified last week, the regulations for mergers and acquisitions that require corporate houses to seek its approval before going in for high-value deals. These regulations will come into force from June 1, 2011. The regulations have been framed with the assistance of the EU and UK Takeover authorities with the result that there are marked similarities between the regulatory regimes in the West. The underlying rationale for the regulations and for the creation of the CCI, the oversight body, is also laudable and necessary. However, it is the lack of clarity as to the practical application of these regulations that is raising concern, both domestically and internationally. It has been noted that such approvals are sometimes diverted. Precedent is not encouraging either. The on-going situations involving Vodafone and Cairn continue to give concern to the broad business community. The BP- Reliance deal is evolving. I would like to stress on the importance of application of these regulations. Mergers and Acquisition (M&A) and the application of connected regulations is a valid entry strategy for companies into India in certain circumstances. And so, uncertainties and impediments to freer flows of capital will inhibit India to capture its full potential. It is encouraging that the CCI has listened to the comments from the business community and has acted on them. In practice we will have to wait and watch. Briefing on new regulations Herbert Smith (André Pretorius) has produced a briefing on the new regulations, which is available by clicking on the following web link: http://www.herbertsmith.com/uploads/HSpdfs/IndianMergerControl_FinalRegulationsProvideGreaterClarity_v2.html Back to UKIBC Newsletter May 2011 http://www.ukibc.com/news_and_media/news/110531-maynewslettercompetitioncommission.aspxTue, 31 May 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110531-maynewslettercompetitioncommission.aspx New Delhi: The government has appointed Sunil Mitra, revenue secretary in the finance ministry, as the new finance secretary effective June 1, two sources with direct knowledge of the matter told Reuters on Wednesday. Mitra will continue to be in charge of the revenue department of the finance ministry. The government has also appointed Sumit Bose as the new expenditure secretary, another senior official said. Bose was earlier heading the disinvestment department in the finance ministry. The government is yet to issue formal notifications on the two top level appointments though the notifications are expected soon. Read the article on Reuters's website http://www.ukibc.com/news_and_media/news/110601-govtappointsmitrafinancesecretary.aspxThu, 02 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110601-govtappointsmitrafinancesecretary.aspx Mumbai: Services and consulting firm Serco signed an agreement to acquire Indian BPO company Intelenet for up to GBP 385 million (Rs 2,772 crore). Under the share purchase agreement, the total acquisition cost, including assumption of existing debt, is up to GBP 385 million (Rs 2,772 crore). This includes contingent cash payments of up to GBP 50 million (Rs 360 crore) through to December, 2013. Intelenet was founded in 2001 as a joint venture between TCS (Tata Consultancy Services) and HDFC (Housing Development Finance Corporation). In 2007, a management buy-out was completed, resulting in the business being majority owned by Blackstone Group, together with Barclays, HDFC and Intelenet's management team. For the year to March 31, 2011, Intelenet's revenue was approximately GBP 170 million (Rs 1,224 crore) and adjusted operating profit, before the amortisation of intangibles arising on acquisitions, and acquisition transaction costs stood at GBP 19 million (Rs 136.8 crore). Read the full article on Financial Express' website http://www.ukibc.com/news_and_media/news/110601-sercotobuyintelnet.aspxWed, 01 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110601-sercotobuyintelnet.aspx MUMBAI: India's largest truck and bus maker, Tata Motors , plans to raise up to $500 million overseas through external commercial borrowings over the next two months, two sources with the knowledge of the deal told Reuters. The company, which also makes cars from Jaguar and Land Rover to the Nano, is in talks with bankers for arranging the issue, the sources said. Read the article on Economic Times' website http://www.ukibc.com/news_and_media/news/110608-tatamotorstalkstoraise500mn.aspxWed, 08 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110608-tatamotorstalkstoraise500mn.aspx A £5 million-a-year partnership between India and the UK is to help the world's second most populous country in its bid to treble the number of university places to 40 million. The British and Indian governments will today announce the second phase of the UK-India Education and Research Initiative (UKIERI), originally launched in 2006. The project takes account of India's aim to increase its student numbers from 13 million to about 40 million by 2020 - which will involve the creation of 800 new universities. The second phase of UKIERI includes "a five-year strategic plan to transform leadership and management in Indian schools, higher education and further education institutions". It follows a visit to India by David Cameron last July with a delegation that included David Willetts, the universities and science minister, and a number of British vice-chancellors. Read the full article on Times Higher Education's website http://www.ukibc.com/news_and_media/news/110610-trebleuktoboostuniversities.aspxFri, 10 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110610-trebleuktoboostuniversities.aspx Kolkata: Logistics service provider TNT Express NV has launched a dedicated B767 freighter service between India and Europe. The service will run five times a week between New Delhi and TNT's European air hub in Belgium. The new B767 freighter service has a weekly capacity of 210 tonne. To begin with, the service will begin with a single freighter, a TNT mediastatement stated. Read the full article on Economic Times' website http://www.ukibc.com/news_and_media/news/110613-tntexpresslaunchesfreighterservice.aspxMon, 13 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110613-tntexpresslaunchesfreighterservice.aspx Press Release London: Yorkshire and Humber businesses are being urged to boost exports to India by attending the India Imperative Road Show taking place on the 22 nd of June in Leeds. It aims to provide a roadmap for local businesses looking at exporting to this rapidly emerging market. The road show, organised by the UK India Business Council (UKIBC) - the business led organization backed by Government set up to boost UK India bilateral trade, is taking place at the KPMG Leeds office in Neville Street, Leeds. The road show is a key recommendation from a joint report titled 'The India Imperative' published and launched by UKIBC and KPMG at the UKIBC Annual Summit in March. Yorkshire and Humber exported £158 million worth of goods to India in 2008 which means it exported less to India than every other UK region apart from the North East. The UKIBC believes the region and the UK as a whole needs to do much more to catch up with its international rivals. Despite the UK being the largest recipient of Indian inward investment into Europe, the UK's share of exports to the Indian market has fallen as whole over the last five years. The UK was the 5th largest exporter to India in 2005 but was only ranked 18 th in 2010 as highlighted by Chancellor of the Exchequer George Osborne in the Taj Hotel in Mumbai last July. Scrap metal and diamonds (which are sent for polishing) are currently the UK's largest exports to India. Meanwhile, there are over 1,500 Australian businesses currently exporting everything from jeans to cookies to India. France has successfully sold high-end brands like L'Oréal and Dior into the Indian market. The UK India Business Council particularly believes that Leeds new media sector means it is perfectly placed to take advantage of India's entertainment and media sector which, fuelled by the world's largest young population, is expanding rapidly and will be worth £15 billion by 2014. This is an obvious and lucrative market for UK technology businesses with smart IP. At the same time, India's IT industry is worth over £30 billion. The UKIBC believes India will take note of the fact that Leeds was successful in becoming the first British city to have full broadband and digital coverage during the dot-com bubble, enabling it to become one of the key hubs in the emerging new media sector. Now, over 33% of the UK's internet traffic passes through Leeds, making it one of the most important regional internet centres in the UK. Panelists at the Leeds road show include: Amarjeet Singh, Tax Partner, KPMG Shalini Agarwal, Partner, Clasis Law (Leeds) Basab Majumdar, Corporate Director International, Northern Region, Barclays Corporate (Leeds) Colin Russell, Sector Specialist - Professional & Business Services, UK Trade and Investment (Leeds) Richard Heald, CEO of the UK India Business Council, said: "I urge Yorkshire and Humber businesses to leverage fast growing economies like India. India's GDP growth has returned to a level in excess of 8% per annum which are providing huge opportunities for local businesses right here in Yorkshire. "The road show is in Leeds to show Yorkshire and Humber businesses the practical steps they need to take in order to start forming partnerships with Indian business. It can seem like a huge leap but small businesses around the world are finding fantastic opportunities in India every single day." Iain Moffatt, KPMG's office senior partner in Leeds, said: "There are compelling reasons why India should prominently figure in a business's strategy; it's a market for all products, it serves as a cost reduction platform and it is a source of innovation and technology. So, the potential rewards for doing business in India are significant but there are domestic nuances that companies looking at India need to be aware of and prepare for. This event aims to provide a roadmap to companies in Yorkshire looking at doing business in this rapidly emerging market, answering the question of how to invest in India, rather than simply why India?" Yorkshire and Humber businesses that wish to book their place at the road show should contact events@ukibc.com Notes for Editors: UKIBC is led by business, with a board and members drawn from all sectors and from the largest firms to the newest start-ups. They're backed by the UK government through UKTI (the government's trade and investment arm) and ensure that the business voice is heard by governments of both countries. http://www.ukibc.com/ About KPMG: KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with nearly 11,000 partners and staff. The UK firm recorded a turnover of £1.6 billion in the year ended September 2010. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 150 countries and have more than 138,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. KPMG International provides no client services. Media contact details: Please contact ishara bhasi callan for further information on ishara.callan@ukibc.com http://www.ukibc.com/news_and_media/news/110615-yorkshirehumberbusinessurgedtoindia.aspxWed, 15 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110615-yorkshirehumberbusinessurgedtoindia.aspx After failing to launch the initial public offer so far, state-run SAIL (Steel Authority of India) now plans to borrow $400 million from overseas lenders to part-finance its expansion and modernisation plans. "The company has sought expression of interests from overseas lenders to raise $400 million through external commercial borrowings (ECBs)," a source in the know said. The source said the fund would be used to finance SAIL's modernisation and expansion plans. The Maharatna company has already embarked on a Rs 70,000 crore capacity expansion plan to take its domestic production to 23.46 million tonnes per annum (mtpa) by 2012-13 from 14.35 mtpa at present. It has Rs 14,337 crore capital expenditure plan for the current fiscal. In addition, SAIL has already expressed its intention to set up four three mtpa manufacturing facilities --one each in Oman, Indonesia, Mongolia and South Africa -- at a cumulative investment of $12 billion. Read the full article on moneycontrol.com's website http://www.ukibc.com/news_and_media/news/110616-sailplansraised400mn.aspxThu, 16 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110616-sailplansraised400mn.aspx Mumbai/ Ahmedabad : Gujarat-based mid-sized private enterprises with a turnover of around Rs 200 crore (US$ 44.51 million) are attracting foreign private equity (PE) investors, and according to Ashesh Shah, Managing Director, Trans-Continental Capital Advisors (TCCA), a Mumbai-based financial advisory firm, around seven to ten mid-sized companies are likely to get foreign funds via the PE route. Read the full article on IBEF's website http://www.ukibc.com/news_and_media/news/110617-foreignpefirmsbetmid-size.aspxFri, 17 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110617-foreignpefirmsbetmid-size.aspx Press Release London: 21 June 2011 Retail food and supply chain companies across the UK are being urged to sign up to a brand new service to boost their export success to India - a country where food processing alone is predicted to be a £159 billion industry by 2015. The new service launches on 1 July, is being offered by the UK India Business Council (UKIBC), the business led organization backed by UK Trade & Investment (UKTI) to boost UK India bilateral trade. This service is targeted at companies, especially SMEs looking to enter India or are new to India. For a fee of just £35 per month, sector members will receive intelligence, events, reports, and create "communities" linking large and small companies around new business opportunities in the retail, food processing and supply chain logistics sector. The service will include insightful reports packed with in-depth market research and new business opportunities in the Indian agribusiness and food processing sectors. The retail sector page will be regularly updated with fresh reports and analysis, all with the aim of helping businesses better understand the market, identify profitable business opportunities and connect with potential partners. Sector members will also get exclusive access to online B2B hub where they meet and connect with Indian and UK businesses. Business Opportunities UKIBC will host two events in July and September, in Loughborough and London respectively, focusing on ways in which UK SMEs can leverage their technical expertise to improve India's fragmented supply chain and opportunities for UK food and drink exporters in India. UKIBC anticipates that more than 100 business leaders and over 80 UK companies will attend. Members will have the opportunity to meet with expert speakers and share in their knowledge and expertise. There will be the chance to network with other businesses from the sector and access to incoming businesses from India. In addition, UKIBC plans to take a delegation to India in October to explore partnerships with Indian SMEs companies in the agribusiness, food processing and logistics sectors. UK India Business Council CEO Richard Heald says, "I urge food, supply chain and logistics companies to focus on the huge opportunities existing in fast growing economies like India. Not only is India the tenth largest economy in the world and the fourth largest by purchasing power parity, but industrial growth is picking up, offering many UK firms the chance to export their way out of the downturn here. "The UKIBC's new sector subscription service can be a catalyst to helping our companies form partnerships with Indian business and Government. This can seem like a huge leap but businesses big and small around the world are finding fantastic opportunities in India every single day." UKIBC Corporate members are companies which are already established in India and play an active role in the UK-India business agenda. The Sector Members will be companies which are exploring the Indian market and can benefit from information and access to businesses successfully doing business there. Healthy growth The Indian government has been granting significant tax breaks and subsidies in the food processing sector, including full exemption from excise duty for specified equipments to preserve, store or transport apiary, horticultural, dairy, poultry, aquatic and marine produce and meat and its processing products. This presents a huge opportunity for UK SMEs operating in the cold chain and food retail sectors. India's food processing sector constitutes 47% of the total Indian food industry and is valued at approximately £46 billion (secondary and tertiary processing sectors) compared to an overall amount of £112 billion. The food processing industry is currently growing at a rapid rate of 15-20% and is poised to reach £159 billion by 2015. It comprises almost 21% of India's GDP, making it the biggest consumption category and key driver of growth. Emerging opportunities The agricultural sector forms the backbone of the Indian economy. Almost 65% of India's rural population lives off the land, accounting for 22% of India's GDP. However, despite its significance and its crucial role for the growth of the Indian economy, this sector remains underdeveloped with only 10% of India's total food produce being processed. 30% of crops are lost post-harvest due to inadequate infrastructure, a highly fragmented supply chain and major logistical deficiencies. UK SMEs specialising in food processing technology and supply chain logistics are ideally placed to leverage their expertise and technical capability to tackle inefficiencies and cater to increasing demand for a sophisticated Indian food supply chain. There is immense potential for partnerships between UK and Indian companies in helping ensure climate resilient agriculture, providing biological software for sustainable agriculture including biofertilisers, biopesticides, vermiculture and aquaculture, and developing improved technologies of small-scale poultry and dairy farming. In the service sector, there is a growing market for soil and water quality testing to help rural families best take advantage of nutrient based subsidies introduced in 2010. Opportunities also exist in new avenues in the agri-sector such as livestock, fisheries, horticulture and the organic farming of commercial crops. These challenges present profitable opportunities for UK businesses with knowledge, technology and an understanding of how India operates. The business challenge Despite the UK being the largest recipient of Indian inward investment into Europe, the UK's share of exports to the Indian market has fallen overall in the last five years. UKIBC believes that the new service will help UK companies export their way out of the current downturn. Few reported business opportunities: Life is sweet for Ed & F Man Ed & F Man, the 227-year-old British trading company has struck a deal with Indian firm Simbhaoli Sugars to build a new white sugar refinery in Kandla in the state of Gujarat. This move is in response to a rapidly growing appetite for sweets and fizzy drinks by Indian consumers - demand for sugar in India is projected to reach 25 million tonnes in 2011 which would make India the world's biggest sugar market. Sanjay Tapriya, the chief financial officer of Simbhaoli said that "the sugar processing plant would be operational within 18 months and would be capable of processing 1,000 tonnes of raw sugar a day." Case Study- Marks & Spencer Marks & Spencer Reliance India is a joint venture (JV) with Mukesh Ambani-run Reliance established in 2008. The JV currently operates 18 stores across India in cities such as Delhi, Amritsar, Mumbai, Pune, Ahmedabad, Kolkata, Bangalore, Hyderabad and Chennai with an average size of about 5,000 sq ft to over 22,000 sq ft per store. Independently of Reliance, Marks & Spencer plans to open 50 stores in India by 2014. These will be large stores of between 15,000 sq ft and 35,000 sq ft. The appointment on 21st February 2011, of two senior executives for their joint venture - James Munson to head the company's retail and marketing division, and Maneesh Gaur to head property and projects - only goes to show that India is an important and profitable market for M&S and one in which they plan to continue to invest in. Notes for Editors: UK India Business Council is the premier business-led organisation promoting bilateral trade and investment between the two countries. Our mission is to facilitate an increase in trade between the UK and India through business to business dialogue. It is backed by the UK government through UKTI (the government's trade and investment arm) to ensure that the business voice is heard by governments of both countries. http://www.ukibc.com/ Media Enquiries: For further information please contact Alan Wheeler + 44 20 8579 6349 & alanwheele@aol.com or Ishara Callan at the UKIBC + 44 207 592 3045 & ishara.callan@ukibc.com http://www.ukibc.com/news_and_media/news/110621-service-help-food-supply-chain.aspxTue, 21 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110621-service-help-food-supply-chain.aspx Adapting Your Brand In India: A 21st Century Retail Market' was a successful event which highlighted the various opportunities and challenges in the retail branding sector. Event Notes: 'Adapting Your Brand In India: A 21st Century Retail Market' - 24th May, London Key Points of the Panel Discussion Lewis Allen, Portland Design Lewis introduced the work of Portland Design, a design agency that has worked in India for the past 5 years specialising in consultancy and end to end project delivery on the ground. Portland Design have found that there is such a rush to build infrastructure in India that the long term view gets lost in the hurly burly of the enthusiasm. So carefully select projects to avoid compromising their professional stance. Portland are making a philosophical plea to the Indian community to slow down and think about what is being built. Portland Design are consumer advocates and they focus on the experience. He has found that there is a consumer experience gap in the host country. The problem gets further exacerbated because European companies tend to simply transplant their tried and tested business models into the Indian market which don't fit. Best practice would be to take the DNA of good business models and create a bespoke business model for the specific Indian market you plan to enter. They have found the Indian design market to be a buyers market where there is not much enduring loyalty despite strong relationship building. At the moment, they don't plan to set up a physical design office in India because they have found that the fact that they are located in London gives them the USP to charge premium prices. Julian Walford, Walford Wilkie Walford Wilkie's foray into the Indian market started after they were approached by Ganjam Indian jewellers to manage their branding. Before Walford Wilkie took them on, Ganjam wasn't a well known company, even though they were making world class jewellery. Julian realised that jewellery in India plays a different role than in the West. In India, it is associated with health, wealth, insurance, inheritance, marriage and dowry. Jewellery also relates to religion in a deep and meaningful way. He applied Western principles and high standards to this core concept thus creating a powerful combination which enabled Ganjam to expand rapidly. Soon after, they helped open a Ganjam design studio in Bombay and Delhi. Now they have established their own team in India working to bring European luxury brands into India as well as bring Indian luxury goods into prestigious locations in the UK such as Harrods. They are also currently working with Swarovski on their development in India. One of the main reasons for their success in India was the fact that they conducted a lot of research to really understand the Indian market. They realised that one cannot copy and paste the Western business model into the Indian context because it is a very complex market. For example European brands who tried to sell a franchise into India failed because of endless hidden costs for the franchisee. No one knows how many retail operations are there - maybe 12 million out of which approximately 10% is organised retail. The level of opportunity is phenomenal but a real challenge of how to do it effectively. One needs good contacts and the right partner to navigate this complex country. Their USP is their quintessential Britishness/Englishness which enables them to differentiate themselves in India. Stuart Paver, Pavers England Retail in India is a chaotic and frightening experience at first but he found that he grew to love it eventually. Pavers England currently own 10 shops and 50-55 concessions in major department stores spread across south India. They were voted one of the top 100 retailers in India a few months ago. They have recently tied up with Jet Airways and plan to open a further 10 stores in 10 weeks in 5 cities - and that's just the start. The ambitious goal is to open 2500 stores by 2025! He urged the audience to be a part of the Indian wave before the domestic competition overtakes foreign companies looking at India. Currently there is still a big knowledge gap but it will be maybe 5 years or less before the domestic market catches up with Western knowledge. Tier 2 cities show a high growth potential and Pavers England have tied up with Shoppers Stop and Lifestyle in Tier 2 cities to capitalise on this opportunity. Their main advantage in the market is that they are a European brand with support infrastructure in place in India which allows them to compete with domestic brands at the same price. People pay for the English heritage at premium domestic prices that is their USP. Stuart's recommendations for establishing a credible brand in India are as follows: Tie up with the correct partner Understand your proposition and what makes you different from your competitors Adapt to the local market to succeed. You need to be creative and imaginative to survive in the Indian market and companies need to persevere and be determined to succeed. Do your own research and then go to India to understand the different markets. It is difficult to understand the profit margins so don't place too much importance on trying to figure them out. Poaching employees is a common practice because there is such a shortage of trained people that those who are skilled are in great demand. This is the biggest wave we will see as far as retail expansion goes - so enjoy the ride. Sabe Tibbitts, UKTI London India presents the biggest retail expansion opportunity that has existed since China. Even when it was a closed market, India had been expanding within itself. Consequently a lot of indigenous brands became very strong eg ThumsUp and Kingfisher. The latter were not keen to export because domestic demand for their product was growing rapidly. Several Indian brands are big and well established and enjoy a strong brand loyalty by Indian consumers who are discerning and sophisticated about global brands. Indian brands are now moving to Africa, Middle East, Eastern Europe and even as far as Brazil. Currently there are huge exchanges between markets developing that are not on our radar and if we don't act fast, the UK will be left behind. The multibrand retail market is the big market - that is India's main market. UK companies need to look at the various opportunities that exist in this sphere and need to tap into the Tier 2 cities and get their brands established there thus gaining first mover advantage. For example Hindustan Lever distributes right across India selling products everyone can afford. There are some first class indigenous players who are expanding across India and will soon be reaching out to other parts of the world for example Dabur with their product, Himalaya Shampoo. Local competition is developing strongly because the Indian consumer favours Indian products over international ones in many cases especially in the FMCG and clothing sectors. M& S didn't do well the first time in India because they charged premium prices for their products. However, they didn't take into account the level of sophistication and familiarity with UK brands that the Indian consumer has which is why their market entry strategy failed the first time around. They are now trying a new approach to achieve success the second time around. It is imperative to place one's product in the right environment. Normally malls would be the obvious choice but UK retailers have faced problems with Indian malls because Indian customers see malls more as a place to eat and not so much as a place to shop. Thus malls end up serving a different purpose than what they were set out to do. For the Indian consumer, malls are a different way of shopping than previously existed - for many of them they are a 'wow' event and one worth visiting but maybe not actually shopping at. The task at hand now is to change Indians' attitude towards malls and encourage people to actually shop there. Thus it is clear that the majority of Indian consumers have some catching up where the shopping experience is concerned. Retailers should thus focus on teaching people to shop the Western way while continuing to respect the Indian cultures and traditions. In addition, costs are high because land prices are high. Indian consumers have the highest sense of value than in other countries and brands need to understand this. Pricing can be an issue but there are people with lots of money so there is demand. India's complexity requires companies to regard each area as a marketplace in itself and clearly understand the target audience. In addition, product mixes should vary according to the local environment. The brand needs to go local to communicate the market and be successful. It is important to get the right product into the right store. Eg the right size of shoes and clothes to fit the average consumer size. Indianisation of a product is very important - for example Marmite failed as a breakfast product but succeeded as biryani seasoning. Additional advice from the panellists It is important to have manufacturing and storage facilities in India to cater to the varying demand because it is not always possible to ship from the UK. There is an urgent need to reach the dark markets, the rural markets, etc because that is where the vast majority of India's population resides. In order to reach these people effectively, you have to behave differently as a brand and need a new strategy such as working with an unorganised distributor or similar such temporary and fluid arrangements. The organised retail model is only appropriate for a small portion of the population. Organised retail is the tip of the iceberg in terms of the physical territory it can occupy. Brands interested in entering the Indian market need to understand that it is a whole new journey which requires them to be flexible, trust their instincts and take time to truly understand the Indian consumer. There needs to be a deep and true commitment behind the brand to allow it to succeed in various segments of the population. There is a whole range of innovative retail solutions that haven't been developed yet. A good starting point is to look at the old models and see what worked well in other countries that could possibly work well in India for example Avon in the US which failed in the UK because of the high cost of labour but in India this could succeed as there is a huge untapped pool of labour. Another huge opportunity is internet style solutions which would fit well in the Indian market as it is already moving in this direction. Thus there are so many more innovative solutions and alternatives to the standard model that might have not started or started and failed in developed markets that could succeed in India. Over the past decade, there has been an enormous growth of Indian brands not just in India but in other countries. Thus UK companies face competition from the internationalisation of Indian in the global market. Back to UKIBC newsletter, June/July 2011 http://www.ukibc.com/news_and_media/news/110628-retail-branding-in-india.aspxMon, 27 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110628-retail-branding-in-india.aspx "The logic of strategic investment, stumbled upon for airlines after years of confusion, should drive policy on foreign direct investment (FDI). What a relief that FDI in airlines was cleared, somehow, at 49 per cent. This is undoubtedly positive for India's aviation sector and consumers, i.e., in the public interest. Musing on the latter, there are aspects of FDI that point to the need for a nuanced strategy because of the economic and technological effects on domestic stakeholders." Read more here http://www.ukibc.com/news_and_media/news/120207_exports.aspxTue, 07 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120207_exports.aspxReflecting general rise in living standard, India's per capita income is estimated to grow above Rs 60,000 per annum or over Rs 5,000 per month, said the government data. "The per capita income at current prices during 2011-12 is estimated to be Rs 60,972 compared to Rs 53,331 during 2010-11, showing a rise of 14.3 per cent," said the Advanced Estimates of National Income released by the Central Statistical Office (CSO) today. Read more here http://www.ukibc.com/news_and_media/news/120207_per_capita_income_may_cross_rs_60k.aspxTue, 07 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120207_per_capita_income_may_cross_rs_60k.aspx By giving aid to its former colony, Britain risks falling behind in the race to build trade with a natural partner. Read more here http://www.ukibc.com/news_and_media/news/120207_telegrpah.aspxTue, 07 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120207_telegrpah.aspx Scandinavian home products giant, Ikea, which has expressed reservations over the 30% sourcing clause from Indian SMEs, will again come to India and lobby for an easy entry into the Indian market early next month. Sources say Ikea CEO Mikael Ohlsson met commerce and industry minister Anand Sharma in Europe last week had promised a visit with his team. The team will furnish details if it would like to enter Indian market or not, given current riders on the policy of allowing 100% foreign direct investment in single brand retail trading. Read more here Discuss here http://www.ukibc.com/news_and_media/news/120209_ikea.aspxTue, 07 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120209_ikea.aspxIn the aftermath of FDI suspension in multi-brand retail, India today sought to dispel apprehensions regarding alleged policy paralysis in the country. Read more here Discuss here http://www.ukibc.com/news_and_media/news/120210_single_brand.aspxWed, 01 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120210_single_brand.aspx  The UKIBC is pleased to welcome seven new members. The Chartered Institute for IT BCS has joined as an associate member. Red Gate Software Ltd, PolyTherics, Welland Medical, Buffin Leadership International, Samera, and Westminster Kingsway College have also joined us as sector members. learn about UKIBC membership here To return to the Newsletter click here http://www.ukibc.com/news_and_media/news/120220-ukibc-newsletter-members.aspxWed, 01 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120220-ukibc-newsletter-members.aspx Secretary of State for Business, Innovation and Skills Dr. Vince Cable will address delegates and meet delegates at the UK India Business Council Annual Networking Summit on March 14 2012. Companies big and small from across sectors including Tata Consultancy Services, Rolls Royce, DHL, BDP, Bank of Baroda, State Bank of India, ITC, PwC, Bournville College, Pearson, Pizza Express, Pavers Shoes, Clansman Dynamics, Get Through Guides, Ernst and Young, Clasis Law, Flexera Software, and Grant Instruments will be participating. Like last year, we have an excellent line up speakers. • Rt. Hon Dr. Vince Cable, Secretary of State for Business, Innovation and Skills • N. Chandrasekaran, CEO, Tata Consultancy Services • Rt. Hon. Patricia Hewitt, Chairman, UK India Business Council • Lord Bilimoria, Founder and Chairman, The Cobra Beer Partnership and President, UKIBC • Ranu Kawatra, President & CEO, Pearson Education India • Anil Srikhande, President, Rolls Royce India • Ludo Chapman, Managing Director, Grant Instruments Limited • Jasper Reid, Head of International Development, Pizza Express • Clive Drinkwater, Director, North West, UK Trade & Investment • Dick Philbrick, Managing Director, Clansman Dynamics Ltd • Mike Hyde, Director, Global Innovation and Product Development, Bournville College • Richard Heald, CEO, UK India Business Council • Vandana Poria OBE, CEO, Get Through Guides Publishing and Training Book your place at http://www.ukibc.com/summit/Register.aspx For more information about the event please go to www.ukibc.com/summit. Click here to discuss Click here to go back to the Newsletter http://www.ukibc.com/news_and_media/news/120220-ukibc-newsletter-summit.aspxMon, 20 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120220-ukibc-newsletter-summit.aspx New Delhi - India's Ministry of Corporate Affairs plans to further ease mergers and acquisitions norms less than a month before the Competition Commission of India will initiate scrutiny of international deals above a certain size. The relaxed norms apply to regulations that require the Competition Commission's approval for deals done elsewhere that involve multinationals with a presence in India. Read the full article on Wall Street Journal's website . http://www.ukibc.com/news_and_media/news/201105-indiaministrymayrelaxmerger.aspxThu, 19 May 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/201105-indiaministrymayrelaxmerger.aspx MUMBAI: Foreign institutional investors (FIIs) increased ownership in India Inc by 170 basis points to 20.4 per cent in 2010-11, purchasing depository receipts and through market operations. Indian promoters issued shares worth Rs 61,300 crore, offering shares to overseas investors' via depository receipts (ADR/GDR), placement to qualified institutional bidders (QIB), preferential allotments, public offerings and conversion of foreign currency convertible bonds (FCCBs). FIIs holding in the broad-based BSE-500 mid and small-cap companies aggregated to 20.39 per cent and on a free-float basis (excluding promoters), it has been at 44.92 per cent. They raised holding in the 50 benchmark index companies (components of Sensex and Nifty) by 156 basis points to 25.97 per cent and on a free-float basis, not less than 50 per cent. FIIs holds a fourth of market value of private sector companies and 7.7 per cent in government-owned ones. Read the full article on Business Standard's website http://www.ukibc.com/news_and_media/news/20110520-fiisraise.aspxFri, 20 May 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/20110520-fiisraise.aspx MUMBAI -- Aston Martin joins Ferrari and Volkswagen AG's Bugatti and Lamborghini units in India with the U.K.-based company Friday launching three models for the country's sports car enthusiasts. "India represents a new opportunity for us," said Michael van der Sande , chief commercial officer at Aston Martin. Read more http://www.ukibc.com/news_and_media/news/astonmartinindia.aspxFri, 15 Apr 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/astonmartinindia.aspx New Delhi: Indian and British small and medium enterprises can cooperate in manufacturing sector, especially in engineering, to strengthen the economic ties between the two nations. There is a need for a mechanism to facilitate interaction between the SMEs in India and the UK, High Commissioner of India to the UK Nalin Surie said at the inauguration of the UK India Business Council (UKIBC) Annual Summit held in Manchester yesterday. Read more http://www.ukibc.com/news_and_media/news/britishindiansme.aspxFri, 11 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/britishindiansme.aspxIndia's government has unveiled its annual budget, saying that the economy is expected to grow at 9% in 2012. Read more http://www.ukibc.com/news_and_media/news/budgeteconomicgrowth.aspxMon, 28 Feb 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/budgeteconomicgrowth.aspxPerhaps this statement reflects the thought behind and the announcements in Budget 2011 relating to employment and skills: "Our 'demographic dividend' of a relatively younger population compared to developed countries is as much of an opportunity as it is a challenge. Over 70% of Indians will be of working age in 2025." Read more http://www.ukibc.com/news_and_media/news/budgettopromotegrowth.aspxTue, 08 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/budgettopromotegrowth.aspxThe Europe India Gateway, which stretches from London to Mumbai, is now commercially operational The first undersea fibre-optic cable to stretch from India to the UK was launched yesterday. Read more http://www.ukibc.com/news_and_media/news/cableukindia.aspxFri, 25 Feb 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/cableukindia.aspx Cairn Energy Plc (CNE), a U.K.-based oil and gas explorer, reported record revenue in 2010 as production from its fields in India increased. Total revenue for the year jumped to $1.6 billion from $234 million in 2009, the London-based company said in a statement today. The completion of a pipeline from the company's Mangala field boosted production, Cairn said. Read more http://www.ukibc.com/news_and_media/news/cairnindiancrude.aspxTue, 22 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/cairnindiancrude.aspxChennai, popularly known as the Detroit of Asia, is the base of 30% of the automotive sector of the country and 40% of the auto components. In addition, Chennai has a cast pool of engineering colleges, polytechnics and a very highly qualified entrepreneurial base and a port to boot. Can the auto and engineering cluster of Chennai become a global manufacturing hub? To read the article and watch the debate video, click here .http://www.ukibc.com/news_and_media/news/chennaismeopportunities.aspxWed, 16 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/chennaismeopportunities.aspx UK-based Compass Group announced it has acquired two Indian firms, in the hospitality and business services support sectors respectively. Compass acquired Vipul Facility Management Private Limited (VFM) and Ultimate Hospitality Services Private Limited (UHS). Richard Cousins, Compass Group CEO reiterated his delight with both the acquisition of Vipul Facilities Management and Ultimate Hospitality Services. According to Cousins, Vipul Facilities Management provides an excellent platform to develop Compass Group's support services capabilities in the region. The investment also enables the group to offer an extended range of services to clients, he added. Ultimate Hospitality Services further enhances Compass Group's existing foodservice offering in India and provides a strong foothold in the Hyderabad region, said Cousins. Vipul Facility Management was acquired from Mr Punit Beriwala and family. Vipul Facility Management, located in Delhi, has a national presence specializing in the provision of support services to the Business and Industry sector. The gross assets of the business acquired were 374.2 million rupees, around £5.2 million as at 31 March 2010 with revenue for the 12 months to 31 March 2010 of 710.7 million rupees, around £10 million. The other acquisition, Ultimate Hospitality Services was acquired from Mr Praveen Rao, Mrs G Anitha and Mr Uppala Kantha Rao. Ultimate Hospitality Services is a strong regional player in the foodservice industry in Hyderabad specializing in the provision of food services to the Business and Industry sector. The gross assets of the business acquired were 42.1 million, around £0.6 million as at 31 March 2010 with revenue for the 12 months to 31 March 2010 of 167 million, around £2.3 million. Read more http://www.ukibc.com/news_and_media/news/compassgroupindia.aspxWed, 20 Apr 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/compassgroupindia.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/news/cwgames.aspxThu, 19 Aug 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/cwgames.aspx Tata Motors, India's biggest automotive company, is readying the launch of an electric version of Indica Vista, its most popular hatchback, in the United Kingdom. The company has established an electric vehicle manufacturing center in Coventry, capable of building 1,500 units every year. The car will go on sale this summer, beginning with fleet customers. The Vista electric was developed by engineers at Tata Motors UK subsidiary, Tata Motors European Technical Center Plc (TMETC). The body shells, however, are exported from India. The end cost of the car could stand at £20,000 (Rs 14.33 lakh), including the £5,000 (Rs 3.5 lakh) subsidy provided by the government on electric cars. The company is yet to make an official announcement of the price range. Read more http://www.ukibc.com/news_and_media/news/eindicauk.aspxThu, 31 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/eindicauk.aspx Oil giant Royal Dutch Shell has agreed to sell the second biggest oil refinery in the UK to India's Essar Energy, in a deal worth around $1.3billion (£812million). Cheshire-based Stanlow produces around one sixth of the UK's petrol. It accounts for some 15 per cent of production from refineries in the UK. The deal, which is subject to shareholder approval, is expected to be completed in the last six months of the year. Read more http://www.ukibc.com/news_and_media/news/essarstanlow.aspxWed, 30 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/essarstanlow.aspxNew Delhi: With slowdown in foreign direct investment (FDI) by 25%, India's dependence on foreign institutional investors (FII) inflows, considered as hot money for maintaining its current account, has increased this fiscal. Read more http://www.ukibc.com/news_and_media/news/fdifiigap.aspxTue, 22 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/fdifiigap.aspx NEW DELHI, MARCH 4: The Finance Minister, Mr Pranab Mukherjee, has said that the Government is considering further liberalisation of the country's foreign direct investment policy for attracting investment in the infrastructure sector. Read more http://www.ukibc.com/news_and_media/news/fdimaybeeased.aspxFri, 04 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/fdimaybeeased.aspx NEW DELHI: The multi-brand retail space could be opened to foreign investment soon as the commerce & industry ministry will firm up recommendations on this policy in next couple of months. " FDI in multi-brand retail is a possibility but with riders that ensure inclusive growth. Our recommendations on such a policy would be coming out in the next 1-2 months," minister of state for commerce and industry Jyotiraditya Scindia told ET. The government has been finding it difficult to build a consensus on opening up multi-brand retail to foreign investments, more so after a majority of respondents to a discussion paper on the issue opposed the idea. But the government has been under intense pressure from multinationals and the developed world to open up the sector. Current policy allows 100% FDI in wholesale trade, but multi-brand retail is closed to foreign investments and prescribes a number of conditions to ensure it is not violated indirectly. The policy allows 51% FDI in single-brand retail. An inter-ministerial panel - consisting of representatives from department of industrial policy and promotion (DIPP), department of commerce , department of economic affairs (DEA), agriculture ministry and ministry of micro, small and medium enterprises (MSME) - submitted its report on the issue in February. Read more http://www.ukibc.com/news_and_media/news/fdimultibrandriders.aspxWed, 20 Apr 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/fdimultibrandriders.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/news/ficci.aspxSun, 08 Aug 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/ficci.aspx FMG, the north London-based pre-media business, has sold a controlling stake in its business to a group of private equity investors led by India Value Fund Advisors (IVFA) for $20m (£12.5m). The existing FMG management team, headed by chief executive Simon Berg, will continue to run the business and will retain "a significant stake in the company" following completion of the deal. Read more http://www.ukibc.com/news_and_media/news/fmgindiainvest.aspxThu, 31 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/fmgindiainvest.aspx NEW DELHI: India Thursday announced an updated foreign direct investment (FDI) policy that simplifies joint venture norms and opens up new areas for overseas funds. The updated policy allows overseas firms in existing joint ventures to operate separately in the same business segment. Earlier, they needed prior approval from their Indian partners. " FDI policy is part of ongoing efforts of procedure simplification and foreign direct investment rationalisation, which will go a long way in inspiring investor confidence," Commerce and Industry Minister Anand Sharma said in a statement. According to the updated policy the commerce and industry ministry released, companies have now been classified into only two categories -- companies owned or controlled by foreign investors and companies owned and controlled by Indian residents. The earlier categorisation of investing companies, operating companies and investing-cum-operating companies has been done away with. "The simplification of joint venture norms will send a good message to foreign investors," said Manoj Kumar, managing partner of legal advisory firm Hammurabi and Solomon. He said the new policy would give a push to the falling foreign direct investments levels in the country. Foreign direct investment inflows into India declined 25 percent to $18.3 billion during April-February period of fiscal 2010-11. Other steps announced by the ministry include allowing conversion of non-cash items such as import of capital goods, pre-operative or pre-incorporation expenses (including payments of rent) to equity. Earlier only royalty, lump-sum fee and external commercial borrowings were allowed to be converted into equity. The policy also allows overseas investment for developing and production of seeds and planting material. "There is a felt need to attract fresh investment and technology inflows into the country, as also to reduce the levels of state intervention in the commercial sphere," said the ministry statement. "It is expected that these measures will promote the competitiveness of India as an investment destination and be instrumental in attracting higher levels of FDI and technology inflows into the country." To view the updated Foreign Trade Policy, visit the section on the Department of Commerce website here http://www.ukibc.com/news_and_media/news/foreignfundsindiaeases.aspxFri, 01 Apr 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/foreignfundsindiaeases.aspxBrian Ager, the Director-General of European Federation of Pharmaceutical Industries and Associations (EFPIA) says that its global R&D pharmaceutical industry has no desire to restrict access to essential medicines. It is strongly in favour of a free trade agreement (FTA) that helps to support the conditions required to stimulate sustainable investment in R&D in India, but this should never be at the expense of the progress being made on access to medicines in the developing world. Explaining this to FE's BV Mahalakshmi, Brain Ager says that the recent EU-FTA talks are in an advanced stage and data exclusivity and intellectual property rights in the pharmaceutical sector are one of the most contentious issues on which there are there are major disagreements. Read more http://www.ukibc.com/news_and_media/news/ftawillenhancerandd.aspxTue, 29 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/ftawillenhancerandd.aspx New Delhi: India's leading retailer Future Group on Tuesday announced an equal joint venture with the UK-based footwear maker Clarks to set up retail outlets in the country. The JV Clarks Future Footwear Ltd (CFFL), on Tuesday announced the opening of the first exclusive store in the Indian capital with plans to have at least 100 such stores in the next five years with revenue of up to Rs. 250 crore. Read more http://www.ukibc.com/news_and_media/news/futuregroupclarksjv.aspxWed, 20 Apr 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/futuregroupclarksjv.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/news/glasgow.aspxFri, 20 Aug 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/glasgow.aspx New Delhi: Global drugmakers have started launching generic or low-priced version of popular medicines and have slashed prices of their existing products to increase market share in India, taking on local competitors in their own game. French drugmaker Sanofi Aventis has launched a range of generic drugs, some at half the price of competing brands of local companies, while Japan's Daiichi Sankyoowned Ranbaxy has cut prices of some of its brands or launched new ones at a significantly low price. Read more http://www.ukibc.com/news_and_media/news/globalcosgenericdrugs.aspxTue, 08 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/globalcosgenericdrugs.aspx Seeking partnerships in renewable energy, education and food processing LONDON: A delegation from Gujarat, one of India's fastest growing States, is in the UK to attract investment to the State. The delegation led by Guruprasad Mohapatra, MD, Gujarat Alkalies and Chemicals limited, met UK businesses to highlight the potential of the state and recruit companies to participate in the Vibrant Gujarat event to be held in January 2011. Welcoming the delegation, Patricia Hewitt, Chair, UKIBC said, "For 13 years from 1997, I was one of the MPs for Leicester which has very strong links with Gujarat. The business community there was superb and I had the great pleasure of visiting Ahmedabad and seeing just how dynamic Gujarat is. " Mohapatra said, "As well as encouraging British business to participate in the Vibrant Gujarat Summit in January 2011, our trade delegation is seeking to encourage investment and collaboration in renewable energy, particularly biomass, waste management, education, international finance, food processing and digital media sectors. British entrepreneurs will find a business-friendly environment in Gujarat combining the best that India has to offer with transparent processes and the minimum of bureaucratic hurdles." The nine-member delegation was keen to highlight the State's strengths as one that provides the most conducive environment for business with minimum red tape. It was agreed that UK businesses were not yet sufficiently engaged with Gujarat, where as other countries such as Japan and Canada were very active. ENDS ------------------------------------------------------------------------------------------------ For more information, email ishara.callan@ukibc.com Notes to Editor About Vibrant Gujarat: Vibrant Gujarat 2011- the 5th Summit aims to facilitate investment alliances for the participating countries. The biennial Summit will be the ideal platform to discuss and deliberate business opportunities in the new age world. About UK India Business Council: 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. http://www.ukibc.com/news_and_media/news/gujarat.aspxFri, 17 Sep 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/gujarat.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/news/hinduja.aspxTue, 22 Jun 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/hinduja.aspxHong Kong and Shanghai Banking Corporation (HSBC) Bank on Wednesday said it was open to a subsidiary model for expansion in India if it was offered good opportunities. The UK-based bank also said although listing on Indian bourses was not ruled out, it was not looking at it at the moment. Read more http://www.ukibc.com/news_and_media/news/hsbcsubsidiarymodel.aspxThu, 03 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/hsbcsubsidiarymodel.aspx Global chief Paul Polman wants to see another HUL - same size, same scale, just in a shorter time frame. To get there, HUL must fire up the engines of emerging categories. But the road from consumer goods to consumer centricity isn't an easy one to navigate, even for India's largest FMCG company. It's lunchtime at the sprawling campus - the walk through inside the corporate nerve centre of India's largest FMCG Company - the 17700 crore turnover (March ended 2010) HUL. The campus is crowded with employees taking their post prandial walk, some using WiFi to work out of their work stations and some milling around the branded food court from the company stable. Read more http://www.ukibc.com/news_and_media/news/hulfmcgretail.aspxThu, 24 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/hulfmcgretail.aspx By Patricia Hewitt Published: May 9 2011 18:17 | Last updated: May 9 2011 18:17 When David Cameron announced last year that the UK would aim to double bilateral trade with India by 2015, it seemed an ambitious target. Yet this aspiration can become a reality as long as UK businesses choose to become part of India's growth story - which has only just begun. Bilateral trade between India and the UK stands at more than £11bn, although the bulk flows from India to Britain. While the UK's exports to India rose by more than two-thirds between 2004 and 2009, it still exports more to Sweden than to India. And yet by 2020, India is expected to overtake China as the world's fastest-growing economy. The country's 50m-strong market of English-speaking, middle-class consumers is predicted to multiply tenfold over the next 15 years, creating a huge opportunity for UK companies to tap into this surge in demand for infrastructure, technology, education, consumer goods, media and services. The attraction of India for UK businesses is also underscored by the two countries' shared history and deep investment links, as well as the large Indian community in the UK. Of course the ties run both ways. India is already one of the largest foreign investors into the UK, and Tata Group is Britain's largest manufacturing employer. It is not easy to enter a new market such as India, especially for small and mid-sized companies that experience constant pressure on management resources, but the opportunities for those doing so are enormous. Indeed, many of the barriers to entry that deterred UK businesses in the past have been pulled down, and practical help is available from UK Trade & Investment. While there are opportunities in India in almost every sector, some areas stand out as particularly well suited to Britain. The infrastructure sector, which India is rapidly scaling up to sustain its economic growth, holds huge potential. Its government is projected to invest £600bn in infrastructure projects over the next few years, from roads and railways to the urban built environment, all areas in which the UK has a world-class reputation. The manufacturing sector is developing rapidly too, led by companies such as Bharat Forge, Tata Motors and Mahindra. This expansion provides opportunities for British engineering firms, many of which have developed successful high-end technology operations in India. Likewise, the country's £30bn healthcare industry is expected to grow quickly over the next few years, creating opportunities for UK businesses specialising in pharmaceuticals, advanced healthcare delivery, diagnostics and medical equipment. Further opportunities are emerging in e-healthcare, training and clinical research. There are opportunities in the services sector too. India aims to train 500m people and provide an additional 40m university places by 2022, opening up a vast market for UK skills providers, which already have an enviable reputation in India. British businesses can offer new business models and expertise in collaborations such as linking academies with private sector companies. The entertainment and media sector, meanwhile - fuelled by rising income levels among India's youth - is expected to be worth £15bn by 2014, creating another lucrative market, this time for UK technology and content businesses. All said, anyone investing in India must take the time to study the business environment. It is not really a single market, but a series of interconnected regional markets where the legislative and investment climate may change from one state to another. Gujarat and West Bengal sit on opposite ends of the political spectrum, while Noida and New Delhi, although only a few miles apart, operate in different states. Investors must compare local laws, government incentives, the available infrastructure and the workforces. It is also important for investors to understand there are great opportunities beyond the big Indian metropolises. Second- and third-tier cities such as Ahmedabad, Vadodara, Coimbatore and Pune are growing at a faster rate than the main cities. They are less costly and competitive, have less traffic and are frequently more "business friendly" with full wireless and broadband connectivity, while offering the same young, educated workforces as the big cities. It is often believed that trade barriers in India remain the main obstacle for businesses. In fact, the country has come a long way since 1991, when financial and economic reforms began. Today, 100 per cent foreign direct investment is permitted in most sectors of the economy, and government ministers from the UK and India work closely together to shape the regulatory environment. When it comes to India, the opportunities are there for those companies that are prepared to grab them. The writer is chairwoman of the UK India Business Council and a former secretary of state for trade and industry http://www.ukibc.com/news_and_media/news/index.aspxTue, 10 May 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/index.aspx NEW DELHI: India has secured a place among the world's 10 largest manufacturing countries as the share of major industrialised economies in global factory output fell significantly in the last decade, a UNIDO report said on Tuesday. Efficient use of energy, helped by enhanced labour productivity and increase in exports of manufactured goods, helped the country secure its position among the top 10 industrial producers. Read more http://www.ukibc.com/news_and_media/news/india10manufacturing.aspxThu, 31 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/india10manufacturing.aspx Mergers and acquisitions (M&As) in India surged a whopping 270 per cent in terms of deal value in the first three months of the year as a result of three big-ticket announcements. According to Hong Kong based research agency mergermarket, there was nearly a four-fold increase in deal value in the January-March quarter of this year - $18.31 billion from $4.94 billion in the same period last year. Of the 57 transactions during the period, 35 or roughly 61 per cent were inbound. The overseas investors came in the form of BP's $7.2 billion purchase of a 30 per cent stake in 23 Reliance Industries' oil and gas exploration blocks, announced in February. Vodafone Group Plc's purchase of a 33 per cent stake in Vodafone Essar Ltd, a deal valued at $5 billion, was soon followed by Siemens AG acquisition of a 19.82 per cent stake in Siemens Ltd for $1.35 billion. Read more http://www.ukibc.com/news_and_media/news/indiabigticketmanda.aspxMon, 18 Apr 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/indiabigticketmanda.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/news/indiadeficit.aspxFri, 02 Jul 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/indiadeficit.aspx Fashion, flamboyance and looking good have always been integral parts of Indian culture. The high-end of fashion was long the preserve of the country's elite. However, that is no longer the case. Read more http://www.ukibc.com/news_and_media/news/indiafashion.aspxTue, 22 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/indiafashion.aspx The UK India Business Council hosted members of India Semiconductor Association (ISA) and NASSCOM, in London and took them to technology clusters in Ipswich, Cambridge and Manchester. To read the report, click here UKIBC Chair Rt. Hon. Patricia Hewitt said, "We are very pleased to host Indian delegation from ISA and NASSCOM. Because both India and Britain have great strengths in IT services and digital media, a closer partnership will be a win for both countries. While India's IT sector is renowned worldwide, however, Britain's world-leading technology is not always as well known. This visit will be an opportunity to showcase Britain's outstanding academic research and leading companies, large and small, and to encourage more partnerships between Indian and British entrepreneurs." The visit is timely as Indian IT firms are looking to decrease their revenue reliance on the US and increase their business in Europe. The $50-billion Indian IT industry gets over 60 percent of its revenue from the US. Nearly 20 percent of their revenue comes from Europe and 20 per cent from the rest of the world. This programme of activities is aimed at helping Indian IT businesses broaden their links in the UK. Welcoming the delegation to BT's R&D centre at Adastral Park, Sir Mike Rake, BT's Chairman said:"'The relationship between India and the UK is very important at multiple levels, including the trade and growth agendas. BT has a large footprint in India working with the vibrant Indian communications and technology sector, and serving multinational businesses within India; and also seeking better to serve Indian multinationals as they go global. Further developing the structures for business and technology cooperation, and for exchange of best practice, is extremely valuable'. The next stop was Cambridge where hi-technology UK companies discussed their products and offerings with Indian counterparts. Speaking about the Cambridge cluster, Dame Sandra Dawson, Chair Cambridge India Partnership, University of Cambridge, said, "Cambridge's world-class research, our coincident attraction to corporate R&D facilities, a growing embedded culture and infrastructure of entrepreneurialism linked with a steady supply of talented computer scientists and engineers have made it an ideal technology cluster. With the growth of companies such as ARM Holdings, Autonomy and Cambridge Display Technology we are seeing that the Cambridge cluster it is not just a place for start ups, but is fertile ground for business growth across the lifecycle of corporate development. We are greatly looking forward to fostering closer links with Indian technology sector companies" The last stop of the delegation was Manchester where they met technology companies from the NW region and took a tour of the MediaCity UK at Salford Quays. India's IT industry is globally renowned and is now worth £30bn. The unparalleled growth in the Indian IT, digital media and electronics sectors has created immense opportunities for British companies to do business with India. While there has been some success, there is enormous untapped opportunity. In order to help UK companies access that opportunity, UKIBC launched the UK India Technology Forum with UKTI in September 2010. It aims to reach out to companies in fields as varied as computer games, film post-production, and specialist software. ##Ends## Notes to the Editor For further information email press@ukibc.com or call 02075923045 UK India Business Council : UK India Business Council is the premier business-led organisation promoting bilateral trade and investment between the two countries. Our mission is to help UK companies get business in India. http://www.ukibc.com/news_and_media/news/indiantechnologydelegation.aspxWed, 15 Sep 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/indiantechnologydelegation.aspx The UK will "make it as easy as it can" for more Indian banks to open branches there as part of enhancing bilateral cooperation in financial sector, UK's commercial secretary to treasury Sir James Sassoon said in a interview. Sir James Sassoon,UK commercial secretary to treasury. Sir James, a direct descendent of the Sassoon banking family which lived in Mumbai in the 19th century and ran a trading business across South Asia, is on his first visit to India after taking charge as commercial secretary. According to him, at least 10 Indian banks want to open branches in the UK. The Reserve Bank of India (RBI) has all along been emphasizing on "reciprocity" when it comes to allowing foreign banks to open branches in India. India is internationally committed to permit opening of 12 branches of foreign banks every year, but the banking regulator has been liberal in its approach to branch licensing of foreign banks. Sir James will meet senior government and RBI officials later this week to discuss branch licensing of UK banks in India. Currently, 10 Indian banks have branches in the UK. ICICI Bank Ltd, India's largest private sector lender, has 11 branches, and State Bank of India (SBI), the largest lender, has seven branches. Other Indian banks that have presence in the UK include Bank of India, Bank of Baroda and Punjab National Bank. The Reserve Bank of India (RBI) has all along been emphasizing on "reciprocity" when it comes to allowing foreign banks to open branches in India. India is internationally committed to permit opening of 12 branches of foreign banks every year, but the banking regulator has been liberal in its approach to branch licensing of foreign banks. Sir James will meet senior government and RBI officials later this week to discuss branch licensing of UK banks in India. Currently, 10 Indian banks have branches in the UK. ICICI Bank Ltd, India's largest private sector lender, has 11 branches, and State Bank of India (SBI), the largest lender, has seven branches. Other Indian banks that have presence in the UK include Bank of India, Bank of Baroda and Punjab National Bank. "(Post-crisis), a lot of banks are getting on the front foot again and thinking about their strategies, particularly out of India. Now is a good time for us to re-examine our own approach to how banks enter the markets in UK... We know at least 10 banks at the moment who are thinking about opening up in London," Sir James said. He declined to name the banks or disclose the status of their applications. "I will be talking to RBI for the road map of market opening in India and at the same time we are launching a new guide for Indian banks who are increasingly wanting to move into the UK to make it easy and drive Indian banks into UK," he said. In 2004, RBI had drafted a road map for foreign banks in India. The regulator was slated to revisit the issue in 2009, but the collapse of US investment bank Lehman Brothers Holdings Inc. changed the scenario. RBI is expected to release a draft on foreign banks' play in India later this month. Indian banks operating in the UK primarily operate in areas such as trade financing, services to high networth individuals, and funding for merger and acquisition activities. "The UK market is attractive for Indian oriented businesses with a larger Indian population. Having said that, 10-15 branches here and there are not too significant. ICICI Bank, SBI and Bank of India will continue to dominate among Indian banks there, while the new banks will try to move from wholesale to retail," said Vaibhav Agrawal, vice-president (research) at Angel Broking Ltd . Sir James also plans to lobby with the government and RBI to raise the foreign investment limit in the Indian debt market from the current $20 billion (Rs93,000 crore). "Opening the debt market is a win-win for all sides, we need to have the debt capital flowing as freely as the equity capital is flowing," he said. India does not allow foreign investors to invest more than $5 billion in government securities, while the limit for corporate bonds has been set at $15 billion. Read more at ( http://www.livemint.com/2010/09/07000134/UK-open-to-more-Indian-banks.html ) http://www.ukibc.com/news_and_media/news/indian_banks.aspxTue, 07 Sep 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/indian_banks.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/news/indian_it_firms_top_europe_survey.aspxThu, 12 Aug 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/indian_it_firms_top_europe_survey.aspxBangalore: For India's top technology firms focused on the markets of US and Europe, the country's $15-billion-plus domestic market for IT services is the latest battleground. In a year when top markets for software exports are recovering and expected to grow at less than 5%, India's domestic market for IT is set to grow three times faster, mainly on the back of higher government spending on IT and new outsourcing projects from local banks. Read More http://www.ukibc.com/news_and_media/news/indiasdomesticmarket_it.aspxTue, 08 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/indiasdomesticmarket_it.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/news/india_employment_visa.aspxFri, 02 Jul 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/india_employment_visa.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/news/india_infrastructure_delegation.aspxWed, 28 Jul 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/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/news/india_plans_rs50000cr_power_sector_debt_fund.aspxWed, 28 Jul 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/india_plans_rs50000cr_power_sector_debt_fund.aspx Location: Eversheds LLP, Bridgewater Place, Water Lane, Leeds, LS11 5DR Date: Thursday 24th March 2011 Time: 1730 - 2000 Capacity: 50 Dress Code: Business attire EVENT DESCRIPTION Overview Most businesses know why India is an important market, but few know how to access the opportunities there. This UKIBC Insight India seminar, delivered in partnership with UKTI and Eversheds, will touch on the why and explore the how. Macro Issues The UKIBC CEO Richard Heald will address the political and economic factors a company should understand before entering India. The speaker will outline the main opportunities and challenges of doing business in India, and highlight future prospects. Legal In this session a legal expert from Eversheds will highlight the basic information required to enter the Indian market, and how things are similar or dissimilar from the UK. The session will also consider the various legal issues that have caused companies problems in the past and how to best mitigate them. Case Study The session will feature a UK company already succeeding in India. The speaker will outline the challenges they have faced when entering the Indian market (including cultural barriers) and how they managed to overcome them. AGENDA 5.30pm Registration 6.00pm Introduction and Welcome by Simon Bedford, International Trade Advisor, UKTI 6.10pm Overview of opportunities in India for UK SMEs, Richard Heald, CEO, UKIBC 6.15pm Legal Issues, Eversheds, TBC 6.25pm Case Study: Stuart Paver, President and Chairman, Pavers England Ltd. 6.40pm Q&A 7.15pm Networking and canapés 8.00 pm Event comes to an end 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. UKIBC seeks to play an influential role in creating and sustaining an environment in which free-trade and investment flourishes. A key objective in this regard is the highlighting, and dismantling, of bureaucratic and regulatory barriers to entry. 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. To register, please contact Global PR on 0797 0148925, or email maddie@globalpr.co.uk . http://www.ukibc.com/news_and_media/news/insightindialeeds.aspxTue, 01 Feb 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/insightindialeeds.aspx Press Trust of India / Mumbai April 21, 2011, 17:01 IST The all-new 2011 Jaguar XJ has been named as the International Luxury Car of the Year for its unique design and stellar performance, a senior company official said today. "We are delighted that the 2011 Jaguar XJ has received this honour," Jaguar Global Brand Director, Adrian Hallmark, said in a statement here. The jury, comprising of 12 nationally-renowned automotive journalists, of International Car of The Year (ICOTY), has selected the Jaguar XJ for this year's luxury car. "The all-new XJ is a benchmark in both design and technology, and we're thrilled to receive such an accolade from one of the highest international panels of judges in our industry," Hallmark said, adding, "this success, along with the redesigned XK and XF, speak volumes about the future of the Jaguar brand as a leading edge premium car-maker." Since its launch in May 2010, the all-new Jaguar XJ has been extremely well-received by customers and media alike. read more http://www.ukibc.com/news_and_media/news/jagbest.aspxWed, 27 Apr 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/jagbest.aspx The television industry renewed its plea for digitisation of distribution and relaxed regulation on FDI in sectors such as DTH on day one of FICCI Frames, the annual conclave on Media and Entertainment in Mumbai Wednesday. Delivering the keynote address, Mr James Murdoch, Chairman and Chief Executive, News Corporation, Europe and Asia, noted that if the creative sector (entertainment and media) in India were to enjoy the same share (of GDP) as it does in Britain, it would grow to $120 billion, up from the current $15 billion. Read more http://www.ukibc.com/news_and_media/news/jamesmurdochdigitisation.aspxFri, 25 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/jamesmurdochdigitisation.aspx JCB has announced a series of major investments and expansions to take advantage of global market growth as the company reported a 48% increase in revenue for 2010. JCB Chairman Sir Anthony Bamford announced that JCB India has invested $30 million (£19 million) in a new engine plant in Ballabgarh, Delhi. Read more http://www.ukibc.com/news_and_media/news/jcbsalessurge.aspxWed, 23 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/jcbsalessurge.aspx NOTTINGHAM events company Off Limits is taking It's A Knockout to southern Asia. They've sealed a ground-breaking deal with Indian company Kooh Sports worth more than £P100,000 It highlights the trend towards UK businesses recognising the global growth of Indian companies. Read more http://www.ukibc.com/news_and_media/news/knockoutindia.aspxMon, 28 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/knockoutindia.aspxNew Delhi: Panacea Biotec has signed a non-exclusive marketing agreement with Uruguay's Laboratorios Clausen SA, allowing the Latin American firm to market the Indian company's organ transplant drug , Pangraf , in Europe. Read more http://www.ukibc.com/news_and_media/news/laboratoriospanaceadrug.aspxTue, 08 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/laboratoriospanaceadrug.aspx Liverpool Hope University is part of a £3.2m research project into developing fuel cells to improve living standards in rural India. The university's Centre for International and Development Education will work with the Universities of Nottingham, Birmingham, Leicester, Manchester Metropolitan University and the Indian Institute of Science on the joint project, titled "Rural Hybrid Energy Enterprise Systems". The research is funded by the Engineering and Physical Sciences Research Council UK and the Indian Department of Science and Technology. Prof Chris Atkin, director of graduate studies and research at Hope, said: "To be part of a successful multi-million pound research project funded by one of the UK's major research councils is just the best news. Read More http://www.ukibc.com/news_and_media/news/liverpoolhoperesearchindia.aspxWed, 20 Apr 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/liverpoolhoperesearchindia.aspxRichard Heald, Chief Executive of the UK India Council, accompanied by Rebecca Weinrich, Economic Development (NWDA) recently visited Dr Farath Arshad, Head of LJMU's Centre for Health and Social Care Informatics (CHaSCI) and Professor David Burton from LJMU's General Engineering Research Institute (GERI). The visit formed part of a scoping exercise to understand innovation within the North West and to explore areas that would benefit from collaboration with partners from India. Read more http://www.ukibc.com/news_and_media/news/ljmurichardheald.aspxThu, 03 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/ljmurichardheald.aspx Buoyed by increasing media intake and strong recovery in advertising spends, the Indian Media & Entertainment (M&E) industry is expected to grow at a CAGR of 14% to touch Rs 1,27,500 crore ($28 billion) by 2015, a FICCI-KPMG report today said. Read more http://www.ukibc.com/news_and_media/news/mandegrowth.aspxTue, 22 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/mandegrowth.aspx MasterCard's India-born President and CEO Ajay Banga today said India is a "more exciting" market than China for the cards and payment giant and the company is focused on shifting as many consumers in India as possible from cash to the electronic payment system. "India still uses a lot of cash in its economy. All I am interested in is converting utilisation for retail payments from cash to alternative forms," Banga told PTI here. Read more http://www.ukibc.com/news_and_media/news/mastercardindiaexcite.aspxMon, 28 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/mastercardindiaexcite.aspxMUMBAI: Digitization, growth of social media and segmentation of the market were the key highlights of the media and entertainment industry in 2010, which registered a growth of 11% over 2009 and touched Rs 652 billion (Rs 65,200 crore), according to a Ficci-KPMG report. Read more http://www.ukibc.com/news_and_media/news/mediaentertainmentgrowth.aspxTue, 22 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/mediaentertainmentgrowth.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/news/monsoon_shortfall_narrows_crops_gain.aspxTue, 27 Jul 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/monsoon_shortfall_narrows_crops_gain.aspx Global media conglomerate News Corp has saved millions of dollars by improving energy efficiency in its daily operations across businesses, its chief Rupert Murdoch has said. "Most recently, we became founding members of the U.K.-India Business Leaders Climate Group," Mr. Murdoch said. Read more http://www.ukibc.com/news_and_media/news/murdochclimate.aspxThu, 03 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/murdochclimate.aspx NDS, a leading provider of technology solutions for the digital pay television industry, has firmed up plans to invest $ 400 million for research and development work in India Jayant Changrani, country head, NDS India said, "India is set to overtake US as the largest direct-to-home (DTH) market in the world this year. Besides, with the government taking initiatives to digitise the analogue cable base over the next few years, the potential for us is huge." According to industry estimates, India will have 40 million DTH subscribers and around five million digital cable subscribers by the end of 2011. This would still leave a base of 80 million analogue households for digital TV service providers to tap into. Taking the cue, the UK-based firm has hired 1,600 people at the R&D centre in Bangalore. The centre here has been made the R&D headquarters for the company and the team has been mandated to develop software solutions for markets globally. Read more http://www.ukibc.com/news_and_media/news/ndsinvestindia.aspxTue, 29 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/ndsinvestindia.aspxPerhaps this statement reflects the thought behind and the announcements in Budget 2011 relating to employment and skills: "Our 'demographic dividend' of a relatively younger population compared to developed countries is as much of an opportunity as it is a challenge. Over 70% of Indians will be of working age in 2025." Read more http://www.ukibc.com/news_and_media/news/non_bpl_peoplealsoneedjobschemes.aspxTue, 08 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/non_bpl_peoplealsoneedjobschemes.aspx(Reuters) - Britain will press India to open up its lucrative retail sector to foreign firms like Tesco, Business Secretary Vince Cable said on Monday, a day before he was scheduled to meet officials in New Delhi. Read more http://www.ukibc.com/news_and_media/news/openretailsector.aspxTue, 18 Jan 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/openretailsector.aspx Peter Beckingham, Deputy High Commissioner, Mumbai blogs on the India opportunity and the BP-Reliance deal for the Foreign and Commonwealth Office's website. In February I took part in five workshops, from Edinburgh to Newmarket, and Leeds to London. These workshops were arranged and supported variously by UKTI, the Asia Task Force, RBS and The Economist Intelligence Unit about India. From the number of business people who attended at each venue, probably over 500 in all, I was left in no doubt that interest among UK business in India must be at an all time high. The UK India Business Council's annual meeting, which takes place in Manchester in March, is also attracting record numbers, and we have trade delegations in Mumbai also in March representing about 50 companies. Read more http://www.ukibc.com/news_and_media/news/peterbeckinghamdeputyhighcommiss.aspxFri, 11 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/peterbeckinghamdeputyhighcommiss.aspxNEW DELHI: The Economic Survey on Friday favoured a phased opening of foreign direct investments in multi-brand retail saying it could help address concerns of consumers and farmers, besides bringing technical know-how. Read more http://www.ukibc.com/news_and_media/news/phasedopeningfdi.aspxFri, 25 Feb 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/phasedopeningfdi.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/news/roads.aspxMon, 09 Aug 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/roads.aspx South East firm Dutton Gregory has launched an India practice, hoping to gain leverage from the region's sizeable Asian community. The venture follows the July 2009 launch of the Southampton India ­Business Network, which promotes business within the region's Indian community as well as between Southampton and India. India practice group head Amarjit Singh said the focus was on small and medium-sized local Indian businesses and businesses in India. Singh and deputy ­managing partner Andrew Tilley visited the country in March with the UK India Business Council, resulting in informal alliances with firms that also provide advice to small businesses. "We're able to provide English businesses going to India with trusted contacts and can help Indian ­businesses gain entry to the UK," Singh declared. To read the report, click here http://www.ukibc.com/news_and_media/news/sefirmtaps.aspxMon, 16 May 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/sefirmtaps.aspxMUMBAI, India--(BUSINESS WIRE)--Smiths Medical, a leading UK-based global medical device manufacturer, today announced it is to establish a wholly-owned subsidiary in Mumbai, India, to help grow its business in this vitally important part of the world. Read more http://www.ukibc.com/news_and_media/news/smithsmedical.aspxTue, 18 Jan 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/smithsmedical.aspx Coventry, 28th March 2011 - The UK's technology base was given a major boost today when Tata Motors' European Technical Centre (TMETC), a wholly-owned UK-based subsidiary of Tata Motors, announced that it will be expanding its partnership with WMG at the University of Warwick. TMETC plans to increase their team of highly skilled engineers working on the campus by 40% over the next two years. Tata Motors has invested over £85m in automotive R&D at TMETC since it was established on the University Campus in 2005 and it already has a team of 240 engineers and researchers working alongside WMG colleagues, with 60 of these hired over the last 12 months due to increased R&D investment. TMETC announced that it aims toincrease the engineering and research force by a further 100 to 340 by 2013. Dr Tim Leverton, Head of Advancedand Product Engineering at Tata Motors Limited said "Today's announcement represents a further demonstration of Tata's long-term commitmentto build and develop R&D facilities here in the UK. TMETC plays a vital role in Tata Motors global R&D network. Tata Motors gets access to worldclass thoughts, skills and technologies through the TMETC and its collaboration with WMG. The contribution of TMETC and WMG is important to Tata Motors product development". TMETC's engineers, who have extensive experience in automotive research, design and development, workalongside WMG researchers in Low Carbon Technology collaborative R&D programmes. The focus on Low Carbon Technology has already started to produce tangible results, for example Tata Motors' Vista Electric Vehicle which will be built at a factory in Coventry and will be available to fleet customers in the UK later this year. Tata Motors' Pixel City Car,which was unveiled by the Chairman, Ratan N. Tata, and Managing Director & Group CEO, Carl-Peter Forster at the Geneva Motor Show earlier this month, has also been developed on WMG campus. Based on the Tata Nano, the Tata Pixel is a concept car aimed at the European market and features a Zero Turn Infinitely Variable Transmission which gives it a turning circle radius of just 2.6 metres, making it ideal for driving in dense urban environments. Nick Fell, Director of TMETC,said "WMG and TMETC are building on five years of successful partnership tofurther grow TMETC's presence at the University of Warwick. We plan to furtherincrease our team on the campus by up to 100 over the next two years, and are discussing establishing test and development facilities here. This shows a clear commitment to build and develop our R&D and facilities here in the UK in collaboration with WMG for the long term." This was supported by WMG Director, Professor Lord Bhattacharyya, who said "Technology businesses such as Tata are crucial to us solving global challenges that will require new thinking energy, climate change related technologies. Tata's work alongside WMG will meet those challenges and will even lead the field in new low carbon technologies.Tata's Pixel concept city car is a clear symbol of Tata's current technologicalprowess and its future aspirations." The announcement comes shortly after research by the Council for Industry and Higher Education which indicates that Britain's manufacturing sector could be re-energised by a closer collaboration between companies and the science and technology departments at top universities. -Ends- Notes to editors 1. Tata Motors is India's largest automobile company, with consolidated revenues of Rs. 92,519 crores ($20 billion) in 2009-10. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand and Spain. Among them is Jaguar Land Rover, the business comprising the two iconic British brands. It also has an industrial joint venture with Fiat in India. With over 5.9 million Tata vehicles plying in India, Tata Motors is the country's market leader in commercial vehicles andamong the top three in passenger vehicles. It is also the world's fourth largest truck manufacturer and the second largest bus manufacturer. Tata cars, buses and trucks are being marketed in several countries in Europe, Africa, the Middle East, South Asia, South East Asia and South America. (www.tatamotors.com) 2. Tata Motors European Technical Centre plc (TMETC) was founded by Tata Motors Limited (TML) in September 2005 to provide state-of-the-art engineering competence to TML and to the global automotive engineering industry. TMETC's engineering team is based at the International Automotive Research Centre at the University of Warwick Campus, in Coventry, UK, with significant automotive engineering experience gained in Global Vehicle Manufacturers, Tier1 Suppliers and Engineering Consultancies. 3. The Tata Motors Vista EV, a final production version of the Vista EVX which won two trophies at last year's Royal Automobile Club's Brighton to London Future Car Challenge, is a fully-electric 4-seater family car with impressive performance characteristics such as 110 miles range and a top speed of 71 mph, making it ideal for city driving as well as commuting and motorway cruising, alongside conventionally powered vehicles. It will be available to fleet customers in the UK from early summer this year. Based on the Tata Nano, the Tata Pixel - at just over three metres in length - is the most package efficient four-seater in the world, comfortably accommodating four adults. The Tata Pixel's ability to manoeuvre and park in the tightest of spaces is made possible by its Zero Turn toroidal traction-drive Infinitely Variable Transmission (IVT), which assists rotation of the outer rear wheel forwards and the inner rear wheel backwards, while the front wheels turn at acute angles. The result is a turning circle radius of just 2.6 metres. The 'scissor' doors rotate upwards from the front to allow passengers to effortlessly enter or exit the Tata Pixel, even in the tightest of spaces. The Tata Pixel is also designed to provide a high level of connectivity. Key functions are controlled by the driver's smart phone, running 'My Tata Connect' -- the first integrated human-machine interface (HMI) concept from Tata Motors. 5. WMG, formerly known as Warwick Manufacturing Group, was founded by Professor Lord Bhattacharyya in 1980 in order to reinvigorate UK manufacturing. Its mission is to improve the competitiveness of companies through the application of value adding innovation, new technologies and skills deployment, bringing academic rigour to industrial and organisational practice. They are an international group with collaborative centres in the UK, China, India, Malaysia, Russia, Singapore and Thailand. As an academic department of the University of Warwick we occupy a unique position between academia and industry. Its success over the past 30 years is the result of cutting edge research and effective knowledge transfer, working with global companies to develop innovative products and processes to real world problems. The strength of its expertise spans three capability areas: digital technologies; materials and manufacturing plus operations and business management. They are an international centre for world class management studies, offering unrivalled postgraduate and professional education programmes. Collaborating with over 500 UK companies, we have developed a focused programme based on real world scenarios that enables managers and leaders to succeed in a constantly changing global environment. http://www.ukibc.com/news_and_media/news/tatamotorswarwick.aspxMon, 28 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/tatamotorswarwick.aspx Delhi, India, April 12 2011 - Tata Group and its chairman Ratan Tata are the best known and most highly regarded Indian Multinational Corporation and business leader among Global Bizfluential, a poll released today at the first Penn Schoen Berland Winning Knowledge Power Breakfast shows. The poll ranked 61 Indian MNCs with revenue over 1000 crores and their leaders. The Top Ten companies ranked in the The PSB 50 were: 1. Tata Group 2. Sun Pharmaceutical Industries 3. Air India 4. Jet Airways 5. TVS Company 6. State Bank of India 7. Oil and Natural Gas Corporation (ONGC) 8. Indian Oil Corporation 9. Axis Bank 10. Kingfisher Airlines Read more http://www.ukibc.com/news_and_media/news/tatapsbtop50.aspxTue, 12 Apr 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/tatapsbtop50.aspx According to the latest Brand Finance Global 500 report, 9 Indian brands are ranked in the Global 500 League list. Tata Group has been crowned as the first Indian brand to be in the top 50 global league with a brand value of USD 15.08 billion for this year versus USD 11.2 billion last year. Read more http://www.ukibc.com/news_and_media/news/tatatopindianbrand.aspxMon, 21 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/tatatopindianbrand.aspxStrong growth from the UK and Asia-Pacific along with the US, West Asia and Africa, made India's largest information technology service provider Tata Consultancy Services report yet another better than expected quarter, both in terms of profitability and margin improvement. Read more http://www.ukibc.com/news_and_media/news/tcsstrongfigures.aspxTue, 18 Jan 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/tcsstrongfigures.aspx Managed Services globally has grown to about $190 billion in revenues with an expected growth rate of almost 14% year-on-year for the next couple of years, experts said at the 3rd International conference organised by Bharat Exhibitions on Managed Services. "In India, the growth is higher - pegged at 19% per annum with revenues at $8-9 billion," said Arpita Pal Agrawal, Executive Director - Telecom KPMG. India is expected to take up managed services in a much more faster manner than the global average, she said. Experts at the conference said that it is important to move towards a model where everybody has a managed services partner. Agrawal said that one reason why companies prefer managed services in current scenario is that it helps train and retain capabilities. Read more http://www.ukibc.com/news_and_media/news/telecommanagedservices.aspxTue, 12 Apr 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/telecommanagedservices.aspx UK firms must start spending their spare cash to ensure a durable economic recovery, a report has said. The Ernst & Young Item Club said that with consumers under pressure, it was even more important for businesses to loosen their purse strings. The research group said it expected the best opportunities lay in overseas expansion. Read more http://www.ukibc.com/news_and_media/news/ukcosspend.aspxMon, 18 Apr 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/ukcosspend.aspx A few have taken tentative steps, others plan to open portals for e-commerce. Virtual shoppers are drawing the attention of fast moving consumer goods (FMCG) companies. While a few, such as Godrej Consumer Products (GCPL), ITC and Wipro Consumer Care & Lighting (WCCL), are exploring the possibility of setting up e-commerce platforms to distribute products, others such as Marico, Dabur and Procter & Gamble (P&G) have taken a few tentative steps in this direction. Marico has been working with a few e-commerce websites to sell products under the Saffola umbrella, said marketing head Sameer Satpathy. Dabur's chief executive officer Sunil Duggal said the company has been selling its Uveda range of products online for a year. P&G is distributing free samples of brands such as Ariel, Head & Shoulders, Pampers, Gillette, Pantene, Whisper and Olay on a website it had launched a few months ago. The companies acknowledged while this was a new avenue, the challenge of distribution remains. A key factor for the business to be viable, say industry experts, is to rationalise the cost of shipping. "At this point, cost of shipping is too high vis-a-vis the unit value of items sold," said Satpathy. Read more http://www.ukibc.com/news_and_media/news/virtualtradefmcg.aspxMon, 18 Apr 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/virtualtradefmcg.aspxA senior executive has stated that Vodafone Essar Ltd., the Indian telecom unit of UK's Vodafone Group expects the contribution of enterprise business to its total revenue to triple by 2016. Read more http://www.ukibc.com/news_and_media/news/vodafoneessarprofits.aspxMon, 28 Feb 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/vodafoneessarprofits.aspxVodafone Global Plc will definitely consider listing its India operations and continue to invest in the country even though the tax issue was a bit of a cloud, chief executive officer Vittorio Colao said in an interview on Tuesday. Read more http://www.ukibc.com/news_and_media/news/vodafonelistinvest.aspxWed, 20 Apr 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/vodafonelistinvest.aspx BANGALORE: India will be among the top 10 e-commerce hubs in the world by 2015, eBay India Head (Partnerships and Pop Culture) Deepa Thomas said today. "India definitely will be among the Top 10 e-commerce hubs of the world by 2015 as it is the fourth largest internet users in the world," Deepa Thomas said. She said though India is witnessing many changes in 3G and broadband, there are issues with connectivity. "India is still not as connected as it should be. Connectivity beyond metros needs to be better," she said Read the full article on website http://www.ukibc.com/news_and_media/news/0410-ecommerce.aspxFri, 30 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/0410-ecommerce.aspxNEW DELHI: The government is setting up a Rs 1,500 crore Technology Acquisition and Development fund for micro, small and medium enterprises (MSME) to help them access designs, patents , processes and technology . "A substantial part of this will go for acquisition of clean technology. The fund will help in transfer of designs ," MSME minister Virbhadra Singh said at an award function. The government has identified 10 industries including pharmaceuticals, IT hardware, auto components, defence and aerospace and biotech for farming which would be taken up initially. The plan is to provide up to 15% of the project cost for purchase of plant and machinery . Alternatively, interest-free loan will be sanctioned for a period of five years, which will cover 50% of the acquisition or transfer cost of technology. To begin with, the maximum available funding will be Rs 3 crore and there will be slabs on the amount of funds that would be provided for each technology acquisition proposal. Read the full article on Times of India website http://www.ukibc.com/news_and_media/news/110905-govt-tech-buyout.aspxMon, 05 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110905-govt-tech-buyout.aspxNEW DELHI: India plans to allow more foreign carriers under an upcoming policy to keep pace with rising demand for international travel that domestic airlines are unable to service. India has bilateral air service agreements with 97 nations, but about half of them are not being utilised because the routes are unprofitable. Opening the domestic aviation sector to more foreign operators would not only improve international connectivity but also give consumers competitive rates. The ministry now plans to work on its policy based on air traffic growth projections, the number of nations that remain unconnected and ways to service them with both foreign and domestic carriers. "Why should passengers suffer if domestic carriers can't provide adequate connectivity? They should be given more choice. We have to align transportation with national needs," a senior aviation ministry official said, adding that the work on the new policy would start after October. Read the full article on website http://www.ukibc.com/news_and_media/news/110905-ministry-mulls.aspxMon, 05 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110905-ministry-mulls.aspxTHIRUVANANTHAPURAM: Experts have favoured the Kerala Biotechnology Commission (KBC) setting up an Industry Incubation Centre to facilitate the establishment of biotech industries in the State. This is one of the thrust areas of action recommended by a colloquium on industry and R&D for biotech development in Kerala organised held earlier this year, proceedings of which have been made available to Business Line. Pilot production Industrially relevant biotech process or programmes can be tested for feasibility through establishing small production units in the incubation centre facility. Pilot-scale production of the product, quality analysis as well as cost effectiveness could be ascertained from the facility. These recommendations were made by a panel discussion chaired by Dr A. Mohandas, Professor Emeritus, Cochin University for Science and Technology, and Mr P. Padmesh of the Tropical Botanical Garden and Research Institute, Thiruvananthapuram. The incubation centre also shall facilitate single window clearance as well as act as liaison between financial institutions for support to the entrepreneurs. Product database A database on products developed by researchers of the State shall be prepared by the centre. The experts also were of the view that KBC may prioritise research areas of regional importance for purposes of funding by the Kerala State Council for Science, Technology and Environment. It shall also inform the Department of Biotechnology, Government of India, of the thrust areas of research identified by the KBC or the State Government. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110907-experts-favour.aspxWed, 07 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110907-experts-favour.aspxMUMBAI: Gammon Infrastructure Projects (GIPL) hopes to commission its offshore container terminal port project at the Mumbai Port Trust (MbPT)by the end of next year, managing director of the infrastructure company, KK Mohanty, said. The Rs1,016 crore Indira Container Terminal (ICT) was to be completed this year. "There has been no delay from our side. In fact, our work is ahead of schedule but the port authorities delayed dredging activities," Mohanty said. Though ICT is presently a 50:50 joint venture between GIPL and Spain's Dragados-SPL, GIPL is in the process of raising its stake to 74%. According to the agreement between the two companies signed in early 2010, GIPL will buy the remaining 26% from Dragados three years after the commercial operations begin. ICT will have a capacity of 1.2 million TEUs (twenty-foot equivalent units). Read the full article on DNA India website http://www.ukibc.com/news_and_media/news/110908-gammon-infra.aspxThu, 08 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110908-gammon-infra.aspxNEW DELHI: In a move which could improve the fund flow and provide some stability to the choppy Indian bourses, the finance ministry has relaxed norms for foreign nationals and foreign institutional investors to obtain Permanent Account Numbers (PAN) that could also double up as KYC (know your customer) compliance for any investment they make in Indian stocks. Till now, FIIs or foreign nationals had to obtain a PAN and separately meet KYC requirements prescribed by the market regulator before investing in stocks. The tax obligation on any transaction is twice the due amount if they fail to mention PAN. In the revised rules that come into effect from October 1, a foreign national will have to only produce either h/his citizenship number or taxpayer identification number to obtain a PAN. The government is making amendments in Rule 114 and Form 49A of the Income Tax Rules and has proposed to introduce a new Form 49AA. While Form 49A will be used for Indian citizens, the other is for foreign nationals and FIIs. Read the full article on Times of India website http://www.ukibc.com/news_and_media/news/110909-easier-pan.aspxFri, 09 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110909-easier-pan.aspxNEW DELHI: The Bangalore-based GMR Group has filed an 'Expression of Interest' (EoI) for Madrid airport. The Spanish government has authorised the sale of 90.05 per cent stake in the airports at Madrid and Barcelona, to be run through a special purpose vehicle. The successful bidders also have to pay an annual fee, of a fifth of the airport's revenue. The management contracts for Madrid and Barcelona will be for 20 years and can be extended by five more. "We have shown an EoI on the Request for Qualification for the Madrid airport," said a GMR spokesperson. Barce-lona's El Prat airport handles 125 million passengers annually and Madrid's Barajas can handle around 70 million a year. The base price for the bidding has been fixed at $5.2 billion for Madrid. Madrid is the fourth busiest airport in Europe and the 11th busiest in the world. It had 49 million passengers in 2010. Globally, the GMR group has built and is operating the revamped Istanbul airport and also building ane airport in Male (Maldives). In India, it has built and operates the Delhi and Hyderabad airports. GMR shot into the limelight after it tied up a consortium to build Delhi airport's Terminal-3, which has a capacity to handle 34 million passengers a year. Read the full article on Business Standard website http://www.ukibc.com/news_and_media/news/110912-gmr-files-eoi.aspxMon, 12 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110912-gmr-files-eoi.aspxLord Digby Jones of Birmingham is leading an SME delegation to India, organised by the UK India Business Council and UK Trade & Investment. We are also working in partnership with Gateway Asia, HSBC and the Confederation of Indian Industry (CII). This delegation is tailored for SMEs looking to explore the Indian opportunity across a range of sectors. Mumbai will give you a chance to connect with Indian and British companies with similar profiles. The CII SME Summit in New Delhi presents a unique opportunity to interact with internationally-focused Indian SMEs. Chandigarh is the thriving capital of both Punjab and Haryana states. Education, ICT, infrastructure and food/agribusiness are among the cities' key strengths. For more information, please click here Back to UKIBC newsletter, August/September 2011 http://www.ukibc.com/news_and_media/news/110912-lord-digby-jones-leads.aspxMon, 12 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110912-lord-digby-jones-leads.aspx NEW DELHI: NTPC Ltd said on Tuesday it was on course to achieve a target of 75,000 MW in just over five years, up from the current installed capacity of 34,854 MW. The state-owned power major is confident of meeting its longer-term target of 128,000 MW aggregate capacity by 2032, NTPC's Chairman and Managing Director, Mr Arup Roy Choudhury said at the firm's 35th Annual General Meeting (AGM) here. On the funding options for the fresh capacity addition , Mr Roy Choudhury said that NTPC had a strong balance sheet which could be leveraged to mobilize resources at competitive rates. During 2010-11, NTPC had signed power purchase agreements (PPAs) for an aggregate capacity of 49,000 MW. The company is slated to add 4,980 MW, including Sipat 660 MW unit, during 2011-12, he said. NTPC currently has 14,088 MW under construction and projects worth 18,471 MW are in the bidding process. Besides, it has approved feasibility reports for 14,666 MW. The company is also preparing feasibility reports for an additional basket of 16,272 MW. Mr Roy Choudhury said that based on the demand growth and project plans, the corporate plan target of 128,000 MW capacity by the year 2032 appears well within reach. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110921-ntpc-targets-75000mw.aspxWed, 21 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110921-ntpc-targets-75000mw.aspxVIJAYAWADA: Bharti Walmart launched its operations in Andhra Pradesh on Thursday by inaugurating its first wholesale store in the State and also in South India here on Thursday. The second one would be opened soon at Guntur, according to Mr Raj Jain, CEO and Managing Director. He inaugurated the store, Best Price, at Nidamanuru on the National Highway no. 5 on the outskirts of the town. He said the store here, spread over 53,000-sq. ft area, would be a one-stop shop for vendors, restaurants, institutions and offices, providing over 500 products including a wide range of fresh, frozen and chilled foods and vegetables, dry groceries, personal and home care items, hotel and restaurant supplies, apparel, and general merchandise. Mr Jain said the company would shortly open a training centre for the youth in the State in Hyderabad to teach them sales and consumer care. It had already set up three such training institutes in the country and the one in AP would be the fourth. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110923-bharti-walmart.aspxFri, 23 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110923-bharti-walmart.aspx London: UK's leading education provider Pearson has joined the UK India Business Council as a Strategic Partner. With UK economic growth sluggish, the UK coalition Government has been highlighting the benefits for British companies to trade with high growth markets. Perhaps the most exciting of these markets is India, a country with growth of around 8 per cent and projected to overtake China as the world's fastest growing economy by 2020. Pearson has established its commitment to the strengthening of UK India business ties by becoming a strategic partner with the UK India Business Council (UKIBC). Pearson, the world's leading education company, providing educational materials, technologies, assessments and related services to teachers and students of all ages is increasing its footprint in India. Earlier this year, Pearson bought 59 percent of Indian online tutoring firm TutorVista. UKIBC CEO Richard Heald welcomed Pearson saying "I am delighted that Pearson has agreed to join us. Their commitment to India in education and skills sector as well as their pre-eminent position within the UK Industry means that they will make significant contribution to our agenda and I am sure that our broad membership will benefit from their insights and interaction". Commenting on being a Strategic Partner, Rod Smith, Managing Director Edexcel International said, "I am delighted to be joining the UK India Business Council Executive Board. I am looking forward to working closely with my colleagues on the Board to strengthen the increasingly important business relationships between UK and India and building on the extensive and exciting work we're already doing in the country through our businesses there." Currently, five per cent of Indians aged 19-24 formally learn a trade. However, the necessity to improve vocational education and training to reap the demographic dividend of a young population is recognised at the highest levels of government, the business community and civil society. India is exploring ways to train 500 million people by 2020; both in blue collar and white collar jobs, across urban and rural India. To support India achieve this target, the UK India Business Council signed an MoU with Centum Learning Limited, a Bharti Associate company, last year, The objective is to deliver aspects of Centum's Joint Venture with the National Skills Development Corporation (NSDC). The initiative seeks to train over 12 million individuals over a 10 year period, in 383 districts of India. It is estimated that the project will require 3500 skill instructors, with 200,000 to be trained in the above mentioned sectors. The UKIBC run UK India Skills Forum (UKSIF), a collective umbrella for the UK skills and vocational training providers of all types from basic "blue-collar" trainers to higher end skills providers such as engineering etc, is open to UKIBC sector members. Heald added, "The UKISF is a one stop shop for UK skills providers. It has pioneered a consortia-based approach to the Indian market. In this way, we are able to mobilize an entity which can meet the requirements of large scale skills projects which are necessary if India is to achieve its goal of training 500 million people by 2020. The UK has an internationally recognised competitive advantage in skills provision. The shared history, language and culture between the two countries should mean that the UK is regarded as the partner of choice to drive forward the skills agenda in India. It will not only help India in increasing its productivity but will help address the social, economic disparity in terms of region, gender, etc." The UKIBC is re-inforcing its sector focus onto opportunities and entry strategies for all UK and Indian companies with the aim to increasing bilateral trade in line with Government objectives. The unrivalled wealth of India market entry experts is a key part of the service offered by the Council and is increased with the addition of the UK based operations of the globally influential Pearson. To find out more about the UKIBC's membership offering, visit http://www.ukibc.com For more information email ishara.callan@ukibc.com or call 02075923045 ENDS Notes to Editor About UK India Business Council (UKIBC) UK India Business Council is the premier business-led organisation promoting bilateral trade and investment between the two countries. Our mission is to facilitate an increase in trade between the UK and India through business to business dialogue. UKIBC plays an influential role in creating and sustaining an environment in which free-trade and investment flourishes. Through the facilitation of partnerships, and with 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. About Pearson Pearson is the world's leading education company. From pre-school to high school, early learning to professional certification, our curriculum materials, multimedia learning tools and testing programmes help to educate more than 100 million people worldwide - more than any other private enterprise. http://www.ukibc.com/news_and_media/news/110928-pearson-strategic-partner.aspxWed, 28 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110928-pearson-strategic-partner.aspxHYDERABAD: Top priority for development of infrastructure projects, says Kerala Chief Minister Kerala Chief Minister Oommen Chandy urged investors to partner with his government in developing world-class infrastructure in Kerala and mentioned that many projects were being taken up under the Public Private Partnership (PPP) mode, including the Rs.77,000-crore High Speed Rail Corridor connecting Tiruvananthapuram to Kasaragod and Mangalore. Addressing CII Southern Region's two-day annual summit on 'Sustainable PPPs in Infrastructure, 'Suminfra-2011', with the theme "Strengthening PPP in Southern Region: Securing the future", he said the Kerala Government accorded top priority to the development of infrastructure and had already initiated an investment promotion drive, ahead of the 'Emerging Kerala Investor Meet' to be held for three days at Kochi from April 19, 2012. He said the Delhi Metro Rail Corporation (DMRC) had completed the pre-feasibility study on the 'High Speed Rail Corridor' project and "we are working on the business models in a PPP mode." Stating that roads, rails, seaports, airports, pipelines for natural gas, power plants and water supply were being developed at a very fast pace, he said the government encouraged PPP to develop its infrastructure base. It was also proposed to set up a 1,200 MW gas-based power plant at Cheemani in Kasaragod district at an estimated cost of Rs.4,500 crore. Another major project was the Cochin-Coimbatore Industrial Corridor covering three districts of Kerala and Coimbatore district in Tamil Nadu. The project estimated to cost Rs.23,500 crore would be developed with the help of the Government of India and the private sector. Read the full article on The Hindu website http://www.ukibc.com/news_and_media/news/110929-chandy-woos.aspxThu, 29 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110929-chandy-woos.aspxJohn Varley, chief executive officer at British bank Barclays, that managed the credit crisis better than any other big bank, says India is on the threshold of a transformation and few could ignore this market. It may sound like the mantra that all westerners utter these days. But when it comes from Mr Varley, it acquires a different meaning. Read more http://www.ukibc.com/news_and_media/news/barclaysindia.aspxMon, 06 Dec 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/barclaysindia.aspx LONDON: Cobra Beer, a company founded by NRI peer Lord Karan Bilimoria, has undergone a full brand redesign to emphasise both Cobra's premium positioning and world beer credentials, whilst retaining its Indian heritage. The redesign, which will be unveiled later this month, includes an updated Cobra brand identity and new primary and secondary packaging… ( Read more ) http://www.ukibc.com/news_and_media/news/cobra_india_111011.aspxTue, 11 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/cobra_india_111011.aspx UKIBC takes Indian delegations to technology clusters in Cambridge and Manchester Indian Minister of State for IT and Communications, Sachin Pilot is in the UK this week to participate in the Technology World show in London and meet UK technology companies in the UK regions. British technology companies hope that this visit will be the springboard for new Indian investment in Britain - and new Indian customers for British technology. To facilitate business interaction and showcase UK expertise, the UK India Business Council is hosting the Minister and the members of India Semiconductor Association (ISA) and NASSCOM, and taking them to technology clusters in Ipswich, Cambridge and Manchester. UKIBC Chair Rt. Hon. Patricia Hewitt said, "We are very pleased to host Indian delegation from ISA and NASSCOM. Because both India and Britain have great strengths in IT services and digital media, a closer partnership will be a win for both countries. While India's IT sector is renowned worldwide, however, Britain's world-leading technology is not always as well known. This visit will be an opportunity to showcase Britain's outstanding academic research and leading companies, large and small, and to encourage more partnerships between Indian and British entrepreneurs." The visit is timely as Indian IT firms are looking to decrease their revenue reliance on the US and increase their business in Europe. The $50-billion Indian IT industry gets over 60 percent of its revenue from the US. Nearly 20 percent of their revenue comes from Europe and 20 per cent from the rest of the world. This programme of activities is aimed at helping Indian IT businesses broaden their links in the UK. Welcoming the delegation to BT's R&D centre at Adastral Park, Sir Mike Rake, BT's Chairman said:"'The relationship between India and the UK is very important at multiple levels, including the trade and growth agendas. BT has a large footprint in India working with the vibrant Indian communications and technology sector, and serving multinational businesses within India; and also seeking better to serve Indian multinationals as they go global. Further developing the structures for business and technology cooperation, and for exchange of best practice, is extremely valuable'. His next stop will be Cambridge where hi-technology UK companies will discuss their products and offering with Indian counterparts. Speaking about the Cambridge cluster, Dame Sandra Dawson, Chair Cambridge India Partnership, University of Cambridge, said, "Cambridge's world-class research, our coincident attraction to corporate R&D facilities, a growing embedded culture and infrastructure of entrepreneurialism linked with a steady supply of talented computer scientists and engineers have made it an ideal technology cluster. With the growth of companies such as ARM Holdings, Autonomy and Cambridge Display Technology we are seeing that the Cambridge cluster it is not just a place for start ups, but is fertile ground for business growth across the lifecycle of corporate development. We are greatly looking forward to receiving our distinguished delegation from India and to fostering closer links with Indian technology sector companies" The last stop of the Minister will be Manchester where he will meet technology companies from the NW region and take a tour of the MediaCity UK at Salford Quays. India's IT industry is globally renowned and is now worth £30bn. The unparalleled growth in the Indian IT, digital media and electronics sectors has created immense opportunities for British companies to do business with India. While there has been some success, there is enormous untapped opportunity. In order to help UK companies access that opportunity, UKIBC launched the UK India Technology Forum with UKTI in September 2010. It aims to reach out to companies in fields as varied as computer games, film post-production, specialist software. Notes to Editor To participate in the London event or for more information please RSVP ishara.callan@ukibc.com or call 02075923045 Speakers at the London event • Sachin Pilot, Minister of State for IT & Communications • Poornima Shenoy, President, ISA • Som Mittal, President, NASSCOM • Rt Hon Patricia Hewitt, chair, UKIBC UK India Technology Forum : During Prime Minister David Cameron's recent visit to India, wide-ranging plans were unveiled for agreements in science and technology, designed to cement bilateral co-operation in ICT, medicine, energy, education and R&D. As part of this, the Business Secretary Vince Cable announced the Enabling Innovation India programme, a three year programme of activities designed to deliver an increase in bilateral trade and investment between the UK and Indian ICT industries. The UK India Technology Forum was launched in September 2010 in London by Som Mittal, NASSCOM President, as one of the most important mechanisms for delivering Enabling Innovation India. It will provide access to a range of partnership and business opportunities for UK and Indian technology firms. Working closely with UK Trade and Investment, the Forum will help companies identify specific and general opportunities, as well as working with businesses and intermediaries which are involved in identifying partners and evaluating vendors. Adastral Park : Adastral Park is BT's global innovation and development centre. It's also the home of InnovationMartlesham - a joint initiative by BT and East of England Development Agency (EEDA) to bring ICT related companies to the Park. UK India Business Council : UK India Business Council is the premier business-led organisation promoting bilateral trade and investment between the two countries. Our mission is to help UK companies get business in India. UKTI : 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. http://www.ukibc.com/news_and_media/news/indianitmin.aspxWed, 08 Dec 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/indianitmin.aspx NEW DEHLI: Indian exports continue to shine as the Government strategy to look for newer markets and change the composition of exports work. Exports grew 36.3 per cent to US$ 24.8 billion in September 2011 on a year-on-year basis. India's exports constituted much more of engineering, electronic and petroleum products than traditional items like textiles… ( Read more ) http://www.ukibc.com/news_and_media/news/india_exportsrise_131011.aspxThu, 13 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/india_exportsrise_131011.aspx NEW DELHI: The Government might soon hike the 51 per cent limit on Foreign Direct Investment (FDI) in single-brand retail business, Commerce and Industry Minister, Mr Anand Sharma, indicated here today. "We are seriously considering raising the bar further," he said at a 'CII Luxury Brands' conclave. He, however, did not divulge by how much the limit would be raised and whether the Government would go the whole hog. There have been a lot of reports of late that India might allow 100 per cent FDI in single brand retail… ( Read more ) http://www.ukibc.com/news_and_media/news/india_fdicap_121011.aspxWed, 12 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/india_fdicap_121011.aspx MUMBAI, October 7th: Organized retail has fuelled new growth categories-like liquid hand wash, breakfast cereals and pet foods-in the consumer goods industry, accounting for almost 50% of their sales, said data from market search firm Nielsen. The Nielsen figures, shared exclusively with TOI, showed some of these new categories got more than 40% of their business from modern retail outlets. The data also suggests how products in these categories reach the neighborhood kirana stores after they have established themselves in modern trade. Read more http://www.ukibc.com/news_and_media/news/india_retail_071011.aspxFri, 07 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/india_retail_071011.aspx NEW DELHI: The Indian luxury market, which is estimated to have touched around $5.8 billion (nearly Rs 28,500 crore), is spreading beyond the metros as adoption of global trends is fast catching up in smaller cities, where many firms are expanding their base. According to a report by CII-Kearney, the luxury market has grown beyond expectations at a rate of 20 per cent over the past year and is likely to grow at the same rate in the coming years as well… ( Read more ) http://www.ukibc.com/news_and_media/news/luxury_market_101011.aspxMon, 10 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/luxury_market_101011.aspxNEW DELHI: The Indian government may allow foreign direct investment in multi-brand retail in the next three months, a Pantaloon Retail (India) Ltd executive said on Tuesday. Read more http://www.ukibc.com/news_and_media/news/multibrandretail.aspxTue, 14 Dec 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/multibrandretail.aspx New Delhi, Sep 26 (PTI) The government has reconstituted the National Manufacturing Competitiveness Council (NMCC) under the chairmanship of V Krishnamurthy, a Commerce Ministry statement said today. NMCC, which is an inter-disciplinary body that was set up by the government to serve as a policy forum for credible and coherent policy initiatives in the manufacturing sector, has been restructured vide a Government Gazette Notification dated August 17, it said. Following the reconstitution, the council will comprise the Planning Commission Member (Industry), Department of Industrial Policy and Promotion Secretary, Finance Secretary, Heavy Industry Secretary, Micro, Small and Medium Enterprises Secretary and the Director-General of the Council for Scientific and Industrial Research from the government side. The President of the Confederation of Indian Industry (CII), Federation of Indian Chambers of Commerce and Industry (FICCI) President and Associated Chambers of Commerce and Industry of India (ASSOCHAM) President will represent the apex industry organisations in the 28-member body, it added. Finance Ministry Chief Economic Advisor Kaushik Basu and Indian Council for Research in International Economic Relations Isher Judge Ahluwalia are the two economists in the reconstituted body. The representatives of various industrial sectors included in the NMCC are Tata Group Chairman Ratan Tata, TVS Motor Company CMD Venu Srinivasan, S Kumars Group Chairman Mukul Kasliwal, Larsen & Toubro CMD A M Naik, ITC Ltd CMD Y C Deveshwar, Godrej & Boyce Ltd CMD Jamshyd Godrej, BHEL CMD B P Rao and HCL Infosystems Chairman and CEO Ajai Chowdhry. The council is to energise and sustain the growth of manufacturing industries and help in the implementation of strategies by the government. http://www.ukibc.com/news_and_media/news/nationalmanufacturingcompetiveness.aspxMon, 26 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/nationalmanufacturingcompetiveness.aspx NEW DEHLI: Private equity (PE) investment in India touched US$ 1.91 billion in July-September 2011, up 18 per cent than that in the corresponding period last year, according to Grant Thornton's 'Dealtracker' report, for the third quarter of 2011. In terms of number, the July-September 2011 quarter witnessed 94 deals as compared to 58 deals in the same period last year. "Private equity investments during Q3 2011 have shown a marginal growth in value and a high growth in volume over the same period for the previous year," as per Srividya C G, Partner and Practice Leader (Valuations), Grant Thornton India... ( Read more ) http://www.ukibc.com/news_and_media/news/pe_investment_071011.aspxFri, 07 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/pe_investment_071011.aspx NEW DELHI: The much-awaited National Telecom Policy-2011 will be unveiled in January next year, the Telecom Minister, Mr Kapil Sibal, has said. The policy was earlier expected to be unveiled by December this year, but delays in receiving recommendations have pushed the date to next year… ( Read more ) http://www.ukibc.com/news_and_media/news/041111_telecom_policy.aspxFri, 04 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/041111_telecom_policy.aspx LONDON: India has signed a tax information exchange agreement with the island of Jersey, the seventh such agreement to be struck by India as part of its efforts to clamp down on tax evasion. But some experts warned the agreement would do little to increase the flow of information. Mr John Christensen, the Jersey-born director of the international campaign group Tax Justice Network, described the agreement as a "needle in a haystack approach" and "unfit for purpose"… ( Read more ) http://www.ukibc.com/news_and_media/news/071111_taxtreaty_jersey.aspxMon, 07 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/071111_taxtreaty_jersey.aspx NEW DELHI: The Union Government has decided to redraft the National Food Security Bill to keep an option open for supplying more than 3 kg of subsidised foodgrains to general households in case of increased output. "We have received public commentsand views of State Governments on the draft Food Bill. We have decided to make some changes while finalising the bill," the Food Minister, Mr K.V. Thomas told PTI… ( Read more ) http://www.ukibc.com/news_and_media/news/111031_redraft_foodsecurity.aspxMon, 31 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111031_redraft_foodsecurity.aspx India's inflation rate fell sharply in December to 7.5% from 9.1% in the previous month, partly due to an easing in the rate of food price rises. Read more here http://www.ukibc.com/news_and_media/news/120116_india_inflation_down.aspxMon, 16 Jan 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120116_india_inflation_down.aspx The UKIBC Networking Summit returns to Manchester on 14 March 2012, bringing together over 500 business figures from across the UK and India. Companies big and small including Tata Consultancy Services, Bournville College, Pearson, Pizza Express, Get Through Guides and Grant Instruments will be participating . Tata Consultancy Services' Global CEO, Mr Chandrasekaran, will make the key note address, with other confirmed speakers including: Mike Hyde,Director, Global Innovation and Product Development, Bournville College Ludo Chapman, Managing Director, Grant Instruments Limited Vandana Poria OBE,CEO, Get Through Guides Jasper Reid,Head of International Development, Pizza Express Rod Smith,Managing Director, Pearson Rt. Hon. Patricia Hewitt,Chairman, UK India Business Council Richard Heald,CEO, UK India Business Council The Summit will be a full day event with plenary sessions and breakouts highlighting opportunities in India and, particularly, how to capture those opportunities. There will also be a strong emphasis on expert advice, networking, exhibiting and a B2B Hub. You will have: Incredible networking opportunities Personal advice from Experts in the 'Meet the Experts' Area Facilitated one to one meetings at the B2B Hub Senior business and political leaders Compelling case studies and practical tips UK companies succeeding in India Fresh off the press market intelligence: Market Entry Strategies report Visiting SME delegation from India For your early bird discount of 33%, book your place by the 27th January at http://www.ukibc.com/summit/Register.aspx For more information about the event please go to www.ukibc.com/summit . To return to the Newsletter click here http://www.ukibc.com/news_and_media/news/120124-ukibc-newsletter-summit.aspxTue, 24 Jan 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120124-ukibc-newsletter-summit.aspx The British Prime Minister, Mr David Cameron, has pledged to do all he can to persuade India to choose the Eurofighter Typhoon over Dassault Aviation's Rafale, despite the French firm emerging as the preferred bidder in the race for the $10-billion contract to supply 126 fighter jets. "It doesn't rule out Typhoon," Mr Cameron told Members of Parliament during Prime Minister's Questions on Wednesday. "I will do everything I can." Read more here http://www.ukibc.com/news_and_media/news/120203_eurofighter.aspxThu, 02 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120203_eurofighter.aspx  Information technology facilitates social innovations, and could help improve life of the poor, said Sam Pitroda, PM advisor on information, infrastructure and innovations and chairman of the Action for India. Read more here http://www.ukibc.com/news_and_media/news/120203_innovation.aspxWed, 25 Jan 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120203_innovation.aspx Rolls-Royce, the global power systems company, has won an order for gas turbine and compression equipment for the Tapis oil and gas field, offshore Malaysia. The equipment will be utilized by ExxonMobil Exploration and Production Malaysia (EMEPMI) to expand and extend the production of the field. The order includes two Rolls-Royce RB211-GT61 gas turbines, each driving twin Rolls-Royce RCB and RBB multi-stage barrel gas compressors. Each gas turbine compressor set will produce 27MW of power, enough to deliver up to 390 million standard cubic feet of natural gas per day. Rolls-Royce will begin to deliver equipment to EMEPMI in the third quarter of 2012, supporting the operator in developing the long-term potential of the Tapis field. Read more here http://www.ukibc.com/news_and_media/news/120203_rolls.aspxFri, 20 Jan 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120203_rolls.aspx Mukesh Ambani-controlled Reliance Brands will bring British shirt brand Thomas Pink, owned by French major Louis Vuitton Moet Hennessy (LVMH), to India as it looks to rapidly increase its presence in the fast-growing domestic premium-to-luxury fashion retail market. Read more Discuss here http://www.ukibc.com/news_and_media/news/120302_mukesh.aspxSat, 03 Mar 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120302_mukesh.aspx Enterprising with Shailendra Vyakarnam I am very inspired by the idea of frugal innovation or jugaad , as it is more commonly described in India. But I am kind of puzzled by this. Are we talking about a frugal mentality which is about speed of execution, sufficient for customer need or are we talking about shoddy completion that attempts to get away with calling itself innovative? I was in Bangalore and Delhi during January 2012. The visit started at a more academic pace at the Indian Institute of Science, in my capacity as Visiting Professor to study how we might improve the innovation rate there through the use of entrepreneurship education. I was delighted to hear that some of my recommendations have already been taken up! I will have to get a bigger hat. In Bangalore, I saw a lot of innovations in the form of restaurants, technologies and research outcomes. I was deeply amused by the radio formats and what is clearly becoming "fusion English" where English words were being made into Kannada by the way they were being enunciated - high energy, great sense of humour and thoroughly entertaining in the tedious traffic. There are excellent examples of real innovation in the services sector, vehicles, healthcare, retail and numerous other fields. Alongside this energy we also find the solid brands that have not done anything frugal - such as Mercedes, Porsche, other luxury consumer brands, architecture and hotels etc. I am delighted there is nothing frugal about these - after all it is nice to enjoy well made products and experiences from time to time! From Bangalore to Delhi and a long Sunday in Tijara district. I went looking for the "bottom of the pyramid" to better understand what it looks like, feels like and what this might mean for understanding innovation, strategy and marketing. Not quite a journey of self-discovery but I think it is useful from time to time to get a sense of balance. This visit was in the context of my trusteeship of the GEN Initiative. Naturally I took many pictures and have chosen to publish two for the different stories they tell about jugaad . Notice the wickets the young lads are using. They had also requested a local building company to use their JCB to clear the ground and create a cricket ground. Not perfect but great for a Sunday afternoon friendly. Read more here Discuss here http://www.ukibc.com/news_and_media/news/120303_indiainc.aspxWed, 07 Mar 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120303_indiainc.aspxALMT Legal has announced the opening of an office in New Delhi with the hire of corporate partner Vineet Aneja alongwith his team of Surbhi Gupta, Mohit Sharma and Vikram Bhargava from Luthra & Luthra. Read more http://www.ukibc.com/news_and_media/news/almtlegal.aspxThu, 18 Nov 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/almtlegal.aspxThe Government yesterday published its strategy for how trade and investment can drive the UK's economic recovery - it is a key part of its plan for growth. To read more from the Department of Business, Innovation and Skills, click here http://www.ukibc.com/news_and_media/news/bistandi.aspxThu, 10 Feb 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/bistandi.aspx Date: January 2011 Place: Leeds, Yorkshire Given the current global economic slowdown, the India Insight series, a brand of the UK India Business Council, will address the issues related to doing business in India's current environment and discuss how India stands as a favoured destination for business. The main areas addressed will include: Macroeconomic indicators, Risks, Operations, HR, Policy & Regulations and Business Culture. An economic update will compare UK and India growth factors and business opportunities. The sessions will cover the following topics: Overview Most businesses know why they should examine the Indian market but few know how. This UKIBC Insight India seminar will touch on the why and explore the how. Macro Issues The session will address the political and economic factors a company should understand before entering India. Speakers will outline the main opportunities and challenges of doing business in India, and highlight future prospects. Case Study The session will feature a UK company already succeeding in India. The speaker will outline the challenges they have faced when entering the Indian market (including cultural barriers) and how they managed to overcome them. The event is being held in partnership with the UKTI. To register email events@ukibc.com http://www.ukibc.com/news_and_media/news/businessinindialeeds.aspxWed, 15 Sep 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/businessinindialeeds.aspxThe Fire Dragon Training Academy, developed by UK-based training company Fire Dragon Coaching Ltd, trains individuals how to combine powerful NLP and coaching skills to deliver business soft skills training with success in any business environment. Read more http://www.ukibc.com/news_and_media/news/firedragonbusiness.aspxFri, 18 Feb 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/firedragonbusiness.aspxPartnership Summit 2010 Plenary Session-I: From Regional Integration to Global Partnerships. The global economic crisis has focused attention on the multilateral trade negotiations. India has signed FTAs with ASEAN and South Korea and is negotiating with the EU and other groups. Can the regional trade agreements coming into force this year add up to a comprehensive multilateral trade process? UKIBC Chair Patricia Hewitt attended a panel discussing the challenges. To view video coverage, click here .http://www.ukibc.com/news_and_media/news/globalpartnerships.aspxThu, 25 Nov 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/globalpartnerships.aspxAfter a series of acquisitions in India and abroad, Godrej Consumer Products (GCPL) has become the largest Indian owned FMCG company. Last week, GCPL added two more brands, Swastik and Genteel, to its portfolio. It is poised to become a Rs 4,000-crore multinational consumer goods company. Read more http://www.ukibc.com/news_and_media/news/godrejconsumer.aspxFri, 10 Dec 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/godrejconsumer.aspx 24.11.2010 We welcome the government's decision to exempt most intra-company transfers from the new immigration limits, as UKIBC and others had urged. If Britain is to remain globally competitive, it is vital that Indian firms investing in the UK, as well as British-based firms, should be able to bring staff here to provide specialist skills or broaden their experience. We also urge the government to cut the bureaucracy and costs surrounding intra-company transfers and other work permits, in particular by simplifying the 63-page application form for Tier 2 visas. UKIBC will monitor the impact of the new immigration rules very closely to ensure that they do not inhibit the stronger economic partnership between India and the UK that both David Cameron and Dr Manmohan Singh have called for. http://www.ukibc.com/news_and_media/news/immigrationcap.aspxTue, 30 Nov 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/immigrationcap.aspx RichardHeald spoke to Reuters and the BBC on the recent policy shift in FDI rules forthe Indian multi-brand and single brand retailing markets. Watchthe interview here http://www.ukibc.com/news_and_media/news/inceoonreuters201211.aspxTue, 20 Dec 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/inceoonreuters201211.aspxThe auto market in India is on the brink of the explosive growth that characterized the Chinese auto market in recent years and will outstrip the United States by size over the next 25 years, according to a forecast by consulting firm Booz & Co. Read more http://www.ukibc.com/news_and_media/news/indiacarmarket.aspxFri, 18 Feb 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/indiacarmarket.aspxIndia's wholesale prices inflation rate fell to 7.48% in November from 8.58% the month before, figures show, in line with analysts' expectations. Read more http://www.ukibc.com/news_and_media/news/indianinflation.aspxTue, 14 Dec 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/indianinflation.aspx The growing importance of India to the global economy was underlined today when an energy company became the fifth from the country to float on the London stock market since the summer. The arrival of Jubilant Energy and four other Indian companies on the Aim stock market for smaller companies is a boost for London as a financial centre at a time when doomsters fear the capital could lose out to rivals in the wake of tighter financial regulation and higher taxes. Read more http://www.ukibc.com/news_and_media/news/indiansmrush.aspxFri, 26 Nov 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/indiansmrush.aspx UK regional operations of European firm Airbus were set to benefit from a £10bn deal signed with Indian low-cost carrier IndiGo yesterday. To read more, click the below links: Bristol Evening Post Liverpool Daily Post http://www.ukibc.com/news_and_media/news/indigodeal.aspxThu, 13 Jan 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/indigodeal.aspx Creative and digital firms in Merseyside should consider exporting to India - that's the message from the organisers of a business conference in Manchester next month. Read more To find out more about the UKIBC Annual Summit on March 10th at Bridgewater Hall, Manchester, go to www.ukibc.com/summit http://www.ukibc.com/news_and_media/news/liverpooldailypostsummit.aspxMon, 14 Feb 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/liverpooldailypostsummit.aspx iEnergizer Ltd, SKIL Ports & Logistics Ltd, Caparo Energy Ltd, Photon Kathaas Productions Ltd and Jubilant Energy N.V. raise a total of $ 344.4 million The London Stock Exchange is delighted to welcome iEnergizer, SKIL Ports & Logistics, Caparo Energy, Photon Kathaas Productions and Jubliant Energy to its AIM growth companies market. These five India-focussed companies have joined AIM since mid September and have raised a total of $ 344.4 million (£ 218.1 million). With their admission, the total number of India-focussed companies quoted on AIM stands at 28, and there is now a total of 74 India-focussed companies listed, quoted or admitted to trading on the London Stock Exchange's markets. In addition, 2010 has seen a number of positive developments by existing India-focussed AIM companies: • KSK Power Ventur, which joined AIM in November 2006, transferred its listing to the Main Market on 31 March, 2010. At the time of transfer its market capitalisation had increased 5.8 times since listing to approximately $ 1.2 billion. The company also successfully raised an additional $ 50 million (approx) in the AIM secondary market in April 2009. • Great Eastern Energy, the first Indian company on AIM, transferred to the Main Market on 28 May 2010 becoming the third Indian company to move to the senior market. GEE made it debut on AIM in 2005 with a post admission market cap of £120 million. Its market cap on admission to the Main Market was £562 million - a 368% increase on initial floatation. • The Hyderabad based Greenko Group which had raised $ 65 million in a November 2007 IPO on AIM, raised a further $ 111 million in February 2010. These recent admissions highlight the steadily improving IPO market in London. Since January, a total of 80 companies have joined AIM, raising a total of $ 1.5 billion. In addition a total of $5.4 billion has been raised by existing AIM companies in further issues over the first 10 months of 2010. If you would like further information on AIM, or the London Stock Exchange's other markets and the opportunities available on them for Indian companies, please contact rwebstersmith@londonstockexchange.com or iadebayo@londonstockexchange.com http://www.ukibc.com/news_and_media/news/lsefiveindianco.aspxThu, 16 Dec 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/lsefiveindianco.aspx The UKIBC is pleased to welcome our new members: Wipro and Vanguard Healthcare have joined as Corporate Plus members. Penningtons Solicitors LLP, First Source, BG Group, Rider Levett Bucknall have joined as corporate members. Clasis Law, AAT, Hull College, Gleeds, Walsall College, TFYC Food and Drinks Pvt Ltd, Burton and South Derbyshire College, Boston Limited, Sussex Coast College Hastings and East West Relations joined as sector members and Writtle College as Associate Member. http://www.ukibc.com/news_and_media/news/membernewsdec2011.aspxWed, 21 Dec 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/membernewsdec2011.aspx 20/03 - 25/03/2010 The Next Generation Network will be taking a delegation to India the week beginning 21st of March 2011 going to Pune, Kolkata and Mumbai. Delegates will have the opportunity to meet senior business leaders and network with members of key organisations such as Confederation of Indian Industry's Young Indians, Entrepreneurs Organisation and the British Business Group. The mission will include roundtable discussions on sector opportunities in India as well as site visits to premier education institutions, large Indian corporate houses and NGOs. The delegation is free to NGN members, with an administrative cost of £100 to non-members. Please register your interest at enquiries@ukibc.com by Friday 4th February. http://www.ukibc.com/news_and_media/news/ngndelegation.aspxMon, 31 Jan 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/ngndelegation.aspx THE Government is unveiling measures aimed at boosting exports, as a report revealed that the North-East is propping up the UK league table in exports to India. The UK India Business Council (UKIBC) believes this region's manufacturing, engineering and technology sectors are failing to tap into growth opportunities emerging from India's infrastructure boom, which will see £350bn spent to upgrade road and rail links across the subcontinent over the next five years. The North-East exported £128m worth of goods to India last year, less than any other UK region. To read the full Northern Echo article, click here . To read more about the UKIBC's Annual Summit in Manchester on March 10th, click here http://www.ukibc.com/news_and_media/news/northeastbusiness.aspxThu, 10 Feb 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/northeastbusiness.aspx Creative and media companies from the North West were among those who attended a successful UKIBC Next Generation Network event in Manchester on 20th January. Billed as a 'must attend' event for anyone seeking inspiration for what can be achieved with an established business and an international vision, the event was hosted by creative agency Photolink at their Manchester studios. The company also has an established and successful operation in Mumbai. Around 80 people attended the event which was organised by Mike Perls, MD of MC2 Manchester in his capacity as a North West Next Gen committee member and chairman of the recently re-launched media & creative organisation, Manchester Publicity Association (MPA). David Walter CEO of Photolink and his MD Jayne Riley discussed their business journey at the event during an informal interview-style presentation facilitated by Michael Taylor of Insider Magazine. http://www.ukibc.com/news_and_media/news/northwestopp.aspxSat, 01 Jan 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/northwestopp.aspx UKIBC Chair Patricia Hewitt spoke to NDTV about the 9 Indian cities identified by UKIBC as representing the best opportunities for UK Plc. She also discussed sustainable growth and Indian companies investing in the UK. To view the interview, click here . For the Emerging Cities report, click here . http://www.ukibc.com/news_and_media/news/pathewittndtv.aspxThu, 25 Nov 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/pathewittndtv.aspx Education specialists from PwC UK and Indian firms led a high profile briefing to senior decision makers from Higher Education Institutions (HEIs) at a seminar entitled 'The India Story - optimism and caution on Education reform'. Presentations covered how the regulatory landscape within Higher Education (HE) has, and continues to change to create substantial opportunities for foreign HEIs, covering both the domestic and foreign private sector HE provider markets. PwC India shared their experience of supporting a wide variety of clients enter the complex HE market in India, while Mukesh Rajani, Head of the PwC UK India Business Group, shared his perspectives on the macro business issues affecting organisations seeking to invest. John Berriman, Higher Education Practice Leader, said, "There are huge growth opportunities for HEIs in foreign markets. Our colleagues from PwC India expertly identified the wider environmental factors that could pose threats as well as opportunities specifically within the India market and illustrated our expertise in this challenging sector." To download a recent report written by PwC India entitled "Opportunities for Private and Foreign Participation in Higher Education", please click the link below: http://www.pwc.com/in/en/publications/Opportunities-for-Private-Foreign-Participation.jhtml http://www.ukibc.com/news_and_media/news/pwceducationreform.aspxWed, 15 Sep 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/pwceducationreform.aspx PwC and ASSOCHAM launched a joint report titled 'Indian Financial Markets: Roadmap 2020; Opportunities and Challenges - Mapping the Way Forward' on 27 October 2010. The report elucidates opportunities and challenges in the backdrop of developments in the Indian banking and the capital markets sectors and attempts to look at the way forward for the industry. Overview • Emerging markets like India have exhibited a strong growth momentum, driven by a robust demand, consumption and savings rate. A study by World Bank supports this by forecasting that the share of the five big emerging economies India, China, Indonesia, Brazil and Russia in 2020 will double to 16.1% from 7.8% in 1992. • Statistics indicate the low penetration levels in the banking industry: "Only 37% of bank branches of Scheduled Commercial Banks are present in rural areas, with only around 40% of the population holding a bank account. Moreover, out of the 600,000 habitations in the country, only about 30,000 have a commercial bank branch." • PwC suggests support of technology, simple product offerings and regulating the self-help groups, as some of the steps to help increase the reach of banking services. • Infrastructure financing has been featured in the report as a key pillar of growth, with the banking sector playing an increasing role in building the growth momentum. • PwC lays emphasis on the role of the private sector towards funding infrastructure development, apart from strengthening the corporate bond market and increased participation from pension funds and insurance companies. • Statistics from the Indian Capital Markets: With a population of more than a billion, a mere 1% of the population participates in capital markets, and of that only a fraction is active. In conclusion, a huge challenge for financial institutions today is functioning and retaining their efficiency in such uncertain times. Business models are undergoing a structural change to accommodate the changing regulations and foster growth. There needs to be a well-defined framework which will withstand disruptions and lead the financial markets towards growth and progression. Key message sections within the report • Welcome • The Indian Banking Sector • Infrastructure Financing • Indian Capital Markets • Looking Ahead To download the report, please click here: http://www.pwc.com/in/en/publications/Indian-Financial-Markets-Roadmap-2020.jhtml http://www.ukibc.com/news_and_media/news/pwcindianmarkets.aspxWed, 15 Sep 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/pwcindianmarkets.aspxMUMBAI: Reliance Infrastructure (R-Infra) is in the process of consolidating its road projects assets, which involve an investment of Rs 12,000 crore, into a holding company to pave way for a potential IPO or private equity investment in the entity in the future. Read more http://www.ukibc.com/news_and_media/news/r-infra.aspxMon, 13 Dec 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/r-infra.aspx Ultra-luxury car-maker Rolls-Royce Motor Cars today said it will be expanding its network in India to tap the opportunities here, its second-fastest growing market in Asia. "India is one of the major markets for us in Asia, the second-fastest growing after China... We want to be present where our customers are, so we are looking at enhancing our distribution," Rolls-Royce Motor Cars Chief Executive Officer Torsten Muller Otvos told reporters here. Read more http://www.ukibc.com/news_and_media/news/rollsroyceexpand.aspxTue, 22 Feb 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/rollsroyceexpand.aspx On Saturday 30th October a delegation from Standard Chartered took the then Lord Mayor of London, Nick Anstee, to one of the vision centres in Mumbai which are sponsored by Standard Chartered. They spent the day examining the procedures that are undertaken in the centre and also took time to talk to a number of the patients. The patients were receiving free treatment and were not expected to pay for their glasses if they could not afford it.http://www.ukibc.com/news_and_media/news/stanchartdel.aspxWed, 15 Sep 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/stanchartdel.aspx By Neeraj Agarwal The UK India Business Council (UKIBC) hosted a 20 member strong delegation of Indian electronics companies to the UK from the 7th to the 10th of December 2010. Organised by the India Semiconductor Association (ISA) with support from the UKT&I and UKIBC, the delegation was officially led by Mr. Sachin Pilot, the Indian Minister of State for IT & Telecoms. The key objective of the mission was to explore scope for Indo-UK collaboration in the semiconductor driven industry. In London, apart from the Technology World, the delegation took part in a Networking reception hosted by KPMG at their offices in Canary Wharf, attended by over 120 companies. Most of the Indian delegates found this extremely useful with one of them commenting that they met with at least 5 very useful contacts with whom they intended to follow up. The delegation subsequently visited BT's Global Innovation and Development Centre at Adastral Park where they were given a warm welcome by Phil Dance, BT's MD for technology exploitation and Jean-Marc Frangos, Senior vice-president of technology and innovation. A tour of their Global Development Centre and an insight into some of their latest research left a lasting impression and helped showcase some of UK'S best in terms of technology and talent. Later, at the Microsoft Research Centre in Cambridge, the group was hosted by Andrew Herbert, OBE, Chairman of Microsoft Research EMEA who spoke about the various research projects being undertaken by his teams in Cambridge. The delegation then proceeded to the Judge Business School where Tudor Brown, the President of ARM, along with other key players within the Cambridge cluster, chaired an extremely vibrant roundtable discussion on the Cambridge cluster story. This was a huge learning experience for the Indian delegates, something they felt they could take home. While in Cambridge, the delegation also enjoyed the hospitality of Professor Dame Sandra Dawson, Deputy Vice Chancellor of the University of Cambridge and Chair of Cambridge India Partnership, who hosted a dinner at the Sidney Sussex College. On the final day of their visit to the UK, the delegates made a trip to Manchester where on the fringes of the media city they met with several technology companies from the North West. In her concluding remarks, Ms. Poornima Shenoy, President of ISA said that, 'we have found this visit to be extremely useful. There is a clear synergy between India and the UK primarily in the areas of chip design, research and applications and we would like to make this delegation into an annual event'. for more information email comms@ukibc.com http://www.ukibc.com/news_and_media/news/techdelreport.aspxFri, 17 Dec 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/techdelreport.aspx Date: 20/01/2011 Venue: Nabarro, London The UK India Business Council is pleased to invite you to the UK India Technology Club, kindly hosted by Nabarro. It will be an informal evening of networking, drinks and canapés for leaders of technology companies and professionals promoting business process improvements. The UK Technology Club is a 'no agenda, no speeches' meeting place for the leaders of technology companies. It aims to bring together technology-driven companies with business interests in UK and India as well as those hoping to build their business across this very active business corridor. To register please email events@ukibc.com http://www.ukibc.com/news_and_media/news/uktechclub.aspxWed, 15 Sep 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/uktechclub.aspx CHENNAI: Medical-equipment maker Trivitron Healthcare plans to invest Rs 100 crore this year in expanding manufacturing capacity and acquisitions, as it looks to step up indigenous production. The company, which received finance from a couple of private-equity funds in 2008, may also look at a second round of funding towards year-end. The Rs 350-crore Trivitron owns a 25-acre medical-technology park at Irungattukottai, near Chennai, which began operations last year. It can house 10 facilities. The park currently operates one factory for manufacturing ultrasound and colour Doppler machines (under a joint venture with Hitachi Aloka). Second facility The second facility for in-vitro diagnostic reagents will start pilot production in October, and commercial production will start in January, said Dr G.S.K. Velu, Managing Director. Construction of the third facility (for modular operation theatres) has just begun. The company also has a 70,000-sq.-ft facility in Chennai for manufacturing haematology reagents, ECG machines and modular operation theatres. These will eventually shift to the larger Irungattukottai park. Trivitron has another facility in Pune for X-ray machines (through the acquisition of Vision Engineering). All these facilities account for only 20 per cent of Trivitron's portfolio - 80 per cent of its devices are imported. Trivitron plans to reverse this in three years, with 80 per cent of manufacturing and innovation happening in India, "as our focus is to make healthcare more affordable and accessible", says Dr Velu. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110816-trivitron-healthcare.aspxTue, 16 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110816-trivitron-healthcare.aspxJan. 17 (Bloomberg) -- U.K. Business Secretary Vince Cable begins three days in India today with executives from BAE Systems Plc and Rolls Royce Group Plc who are seeking to benefit from a global push to make trade the focus of British diplomacy. Read more http://www.ukibc.com/news_and_media/news/cableinindia.aspxMon, 17 Jan 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/cableinindia.aspx The Hindu Business Line: September 23, 2010 New Delhi: Foreign institutional investors (FII) can now invest more in the debt securities with the Government on Thursday raising their investment limit in Government securities and corporate bonds by $5 billion each. Effectively, the FII investment limit on G-secs has been raised to $10 billion from $5 billion and that on corporate bonds stands raised to $20 billion from the earlier level of $15 billion. The upward revision in the investment cap in G-secs and corporate bonds comes at a time when FIIs have been betting big on both Indian debt as well as the equity markets. The Government had last raised the FII investment limit in G-secs in June 2008 to $5 billion from $3.2 billion. To enable higher FII investment flows into the corporate debt market, the Government had in January 2009, at the peak of the financial crisis, raised the FII investment cap in corporate bonds to $15 billion from a level of $6 billion. But this time round, for investment in G-secs, the Government has stipulated that the incremental limit of $5 billion be invested in securities with residual maturity of over five years. Corporate Bond On the corporate bond side, the incremental limit of $5 billion must be invested in corporate bonds with a residual maturity of over five years issued by companies in the infrastructure sector, it has been stipulated. These stipulations have been put in place for the first time, informed sources said. The latest move could be intended to ensure greater participation of FIIs on a longer term basis and also enable the flow of long-term resources to the infrastructure sector. Increased Investments Likely The enhancement of the FII investment cap would provide avenues for increased FII investment in debt securities, help investment in the infrastructure sector and the development of the Government securities and corporate bond markets in the country, an official release said. The policy has been reviewed in the context of lndia's evolving macroeconomic situation, its increasing attractiveness as an investment destination and need for additional financial resources for its infrastructure sector while balancing its monetary policy, the release added. "The move to stipulate that incremental FII investment in corporate bonds should go to companies in the infrastructure sector seems a practical and sensible step. This is for the first time such a stipulation has been made," said Mr Jagannadham Thunuguntla, Equity Head, SMC Capitals Ltd. http://www.ukibc.com/news_and_media/news/fiiindia.aspxMon, 27 Sep 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/fiiindia.aspxMumbai: India aims to become the largest small car hub of the world by surpassing Japan, the biggest maker of compact cars. India had replaced Brazil last year to become the second-largest producer of such cars. read more http://www.ukibc.com/news_and_media/news/indiajapan.aspxTue, 12 Oct 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/indiajapan.aspx LONDON: During Prime Minister David Cameron's recent visit to India, wide-ranging plans were unveiled for agreements in science and technology, designed to cement bilateral co-operation in ICT, medicine, energy, education and R&D. As part of this, the Business Secretary Vince Cable announced the Enabling Innovation India programme, a three year programme of activities designed to deliver an increase in bilateral trade and investment between the UK and Indian ICT industries. The UK India Technology Forum was launched in London by Som Mittal, NASSCOM President, as one of the most important mechanisms for delivering Enabling Innovation India. It will provide access to a range of partnership and business opportunities for UK and Indian technology firms. Working closely with UK Trade and Investment, the Forum will help companies identify specific and general opportunities, as well as working with businesses and intermediaries which are involved in identifying partners and evaluating vendors. Bob Driver, UKTI, said, "The Forum will benefit from UKTI's existing and planned partnerships developed for this purpose, with organisations such as NASSCOM, Wipro Technologies, the Indian Semiconductor Association, the National Institute for Smart Government and Cambridge Wireless. There will also be access to a series of high profile delegations and market visits which will focus on educating Forum members on these market opportunities and connecting them with potential partners who are seeking specific complementary skills, services and products." Kevin McCole, UKIBC COO said, "The Technology Forum will be managed by the UKIBC in close association with the UKTI to get more of the UK innovative companies doing business with India; and get UK and Indian technology companies doing business together by means of workshops, seminars, networking and delegations" The launch of Forum is timely as Indian IT firms are looking to decrease their revenue reliance on the US and increase their business in Europe. The $50-billion Indian IT industry gets over 60 percent of its revenue from the US. Nearly 20 percent of their revenue comes from Europe and 20 per cent from the rest of the world. He said, "We are seeing big demographic change in India. Companies will have to change their business models to respond to this change. By 2025 Asia without Japan will, in real terms, be as big as Europe. Companies need to take this into account when they develop their India strategy, products and services. Regulations will come and go, but companies must see what opportunities exist and what challenges have to be overcome." Factors that will drive India's growth are Indian industry, fast growing semi-urban and rural areas, change in aspiration of people. It was agreed that technology can play a key role in making the growth inclusive. Dr. Shai Vyakarnam, Director of Centre of Entrepreneurial Learning at Judge Business School, University of Cambridge, Was Rahman, UKIBC Technology Forum Committee member, and Alan Coe, Microsoft shared their business insights at the launch. Ends For more information, email press@ukibc.com Notes to Editor About UK India Business Council: 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. http://www.ukibc.com/news_and_media/news/techlaunch.aspxMon, 20 Sep 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/techlaunch.aspx Minister for Employment Relations, Consumer and Postal Affairs I have been asked to speak today about the UK Government's vision for the special relationship with India. What it means and where it's going. First, let me say we are acutely conscious that we cannot simply state what we want and expect to get it. That's not how a friendship works. Read more http://www.ukibc.com/news_and_media/news/ukgovvis.aspxWed, 12 Jan 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/ukgovvis.aspxWhen I was talking about some of the basic primary goods, I wasn't jumping to the retail sector. But over time, what many economies have found, not only developed economies like the United States, but I have seen this in Mexico, Brazil and China, that some of those large distributors can capture the benefits of their supply chains with better, effective logistics. So I think that would obviously create additional opportunities to benefit the Indian consumer. To read the full interview with CNBC-TV18, click here .http://www.ukibc.com/news_and_media/news/worldbankindia.aspxFri, 14 Jan 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/worldbankindia.aspxThe Gujarat Co-operative Milk Marketing Federation Ltd (GCMMF), makers of Amul brand dairy products, will be setting up nine new plants in the next four years at a cost of Rs 3,000 crore and also expand the capacity of the existing plant, to a top GCMMF official said. Managing Director of GCMMF R S Sodhi said the dairy products maker has plans to touch Rs 30,000 crore turnover by 2020 Continue Reading here Subscribe to our Newsletter here for regular updates http://www.ukibc.com/news_and_media/news/120425_amul.aspxWed, 25 Apr 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120425_amul.aspxhe government will allow cotton exports without any restriction, trade minister Anand Sharma said on Monday, lifting a ban imposed last month by the world's second-biggest producer after record overseas sales raised concerns about domestic supplies. Continue Reading here Subscribe to our Newsletter here for regular updates http://www.ukibc.com/news_and_media/news/120430_gov_allows_cotton.aspxWed, 30 May 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120430_gov_allows_cotton.aspxAditya Birla Nuvo Ltd (ABNL), a unit of the $28 billion ( Rs. 1.5 trillion) Aditya Birla Group, will acquire a majority stake in the Pantaloons retail chain of debt-laden Pantaloon Retail (India) Ltd (PRIL), India's largest listed retail company by revenue. Continue Reading here Subscribe to our Newsletter here for regular updates http://www.ukibc.com/news_and_media/news/120501_aditya_birla_to_buy_pantaloons_retail_chain.aspxTue, 01 May 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120501_aditya_birla_to_buy_pantaloons_retail_chain.aspx The High Commission is happy to inform you that the India Trade Promotion Organisation (ITPO), the wholly owned apex trade promotion organisation of the Government of India is in the process of selecting an Adviser-cum-Project Management Consultant for developing an integrated exhibition-cum-convention complex at Pragati Maidan, New Delhi. The ITPO has sought Request for Proposal (RFP) for the purpose from major infrastructure design and project management entities with previous experience of design/development of convention and exhibition centres. Read the full release here http://www.ukibc.com/news_and_media/articles/120127_high_commision_of_india.aspxFri, 27 Jan 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/120127_high_commision_of_india.aspx View the full actcity plan here http://www.ukibc.com/news_and_media/news/120320_activity.aspxWed, 14 Mar 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120320_activity.aspx  The last month has been exceptionally busy time for us at the UKIBC. In March we held the fourth UKIBC Networking Summit, which was a huge success and I hope you were able to join us. Like last year, we chose Manchester as the host city for the UKIBC Summit in order to encourage more companies, especially SMEs, from outside London and the South East England, to be part of the Indian growth story. Therefore, we were delighted to see a good mix of firms across a range of sectors at this event. Over 450 delegates attended the Summit, and over 30 organisations, including trade bodies from the UK and India, supported us. We also took the opportunity to publish a new report, entitled Insight India: Market Engagement Strategies, which you can download from here . This report is the second the series and seeks to illustrate how UK businesses - from a variety of sectors and deploying a range of market engagement models - are succeeding in India. I am delighted to be able to announce that BT has joined us as a Strategic Partner. Their pre-eminent position within the UK Industry and their commitment to India means that they will make significant contribution to our agenda of increasing UK- India trade. They will be leading our digital innovation work stream and I am sure that our broad membership will benefit from their insights and interaction. You can read the full press release here. We have also recently re-launched our homepage (www.ukibc.com). The front page has been reformatted to make the site more attractive and easier to use. We also launched new content covering the "Why India" and "How India" aspect of Doing Business in India. I also had the pleasure of signing an MoU in New Delhi with James Bevan (on behalf of UKTI) and Rajiv Kumar of FICCI on 2 April. The MoU related to a new initiative which aims to strengthen investment links between established Indian companies and UK technology-focused small to medium-sized enterprises (SMEs). You can read the full press release here. The signing was overseen by the Rt. Hon George Osborne, Chancellor of the Exchequer who stressed that; "Indian companies demand the very best. That is what many highly innovative British enterprises offer. But even in our highly networked world, opportunities to match the right British technology to the right Indian partner can be missed. This new initiative aims to correct that and, by doing so, increases the chance that a brilliant idea can be brought to market, potentially for the benefit of millions, if not billions of people." Finally, we have made our Sector Subscription service even more attractive. Tailor-made for smaller companies interested in India, companies receive intelligence including monthly sector views, quarter reports, and access to sector events and delegations. The annual subscription fee is 100 pounds plus VAT. Sector subscribers get exclusive log in and password that gives them access exclusive areas of the UKIBC website. Subscribe now by clicking here You can read the full Summit communiqué here. To get access to photographs from the Summit, click here. For Summit video, click here For delegate list, click here Richard Heald CEO UKIBC http://www.ukibc.com/news_and_media/news/120320_foreward.aspxMon, 19 Mar 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120320_foreward.aspxMumbai headquartered Firstsource Solutions is a Business Process Outsourcing company (BPO) that provides customer management, data processing and collections services to a range of clients in the Telecommunications & Media, Financial Services and Healthcare industries. Firstsource has established a number of contact centres in the UK and created over 2,000 new jobs in the UK during the last five years. Who are your main clients and how do you help business? We are a business process outsourcing company, specialising in three vertical markets: telecoms & media, financial services and healthcare. Our services to our clients focus on customer management, collections and document processing, delivered by 30,000 staff worldwide in our centres in the UK, India, Sri Lanka, USA and the Philippines. Our clients are primarily in the English speaking parts of the world - the United States, UK and Australia and have expanded recently into the Republic of Ireland. We also are growing our services to Indian companies in our core verticals. As per your experience, what are the benefits of doing business in India? The benefits are obvious from the perspective of a company based in the UK or the US. The UK's markets are very mature and lots of organisations are looking for growth on a scale that can only come from countries such as India with a higher GDP growth rate. There are opportunities for UK companies to expand their business as well as bring new things to the Indian market. As Indian consumers and businesses increase their spending power, they look for some of the services and products which we are used to buying here. You are a frequent traveller to India. What are your thoughts on how India has changed as a market? There is no doubt that in particular the major Indian cities have changed dramatically with more high-tech business parks and shopping malls being built. Economically, India really started liberalising in the early '90s and, the recent economic downturn notwithstanding, there's a real feeling that the level of relatively high growth can be sustained over the long-term. Despite challenges such as infrastructure there is certainly a sense of confidence in the country and I think it will continue to provide a good market for Indian companies and for foreign companies looking to invest there. Would you say UK and India are natural business partners? Why? Yes. We're all aware of what the history is and that has produced some strong ties. The number of people of Indian origin living in the UK through immigration who have links back to the motherland, mean there are many, connections between the two countries. Those links continue to be very important both from an emotional and commercial perspective. In our particular customer management world, there's a very strong link between the USA and the Philippines and a lot of outsourcing from the USA happens in the Philippines for historical and cultural reasons. Young people in the Philippines are very Americanised in their approach and their attitudes. Culturally they are quite attuned to the USA, whereas I think young people in India have stronger links to the UK. Clearly the English language is a major advantage in terms of people wanting to do work in India. Because India has so many different regional languages, English and Hindi are unifying languages. That's a big advantage, both for the UK companies wanting to do business in India and also for Indian companies looking to operate abroad. And in addition, the accounting and legal framework is similar, which is helpful for companies aiming to expand. Based on you and your company's experience what advice would you give UK businesses looking to enter the Indian market? It's important to work with a good local partner or a local country head who you feel can support the business. A lot of companies work through partnerships in India, historically, and I think that's a trend that will continue. You get big industrial houses in India that are very diversified and work across all areas of the economy and many of these companies have gone into business with outside companies to jointly promote themselves in India. Many companies enter the Indian market through joint ventures or partnerships with local Indian firms who have connections or can help to support them. There's a big debate in India about investing in the big urban cities versus investing in the smaller cities. As you have centres all over India what's your view? It really depends what you are looking to sell. If you are looking to sell something that is a high end luxury product you need to be in the big metros. It is important to do thorough research as you would before going into any new market. Delhi has very good infrastructure by Indian standards - good road systems, a good metro system, brand new airport, so it's not difficult to get around. As a result, there are now satellite townships which have sprung up around Delhi. Towns like Gurgaon and Noida really formed off the back of the technology boom in India. India is promoting exports in a big way. Some of our operations are located in designated Special Economic Zones (SEZs), specific locations where you can set up and get tax breaks as a business. That replaced the old Software Technology Parks of India (STPI) Scheme where any export-oriented IT or BPO company could establish themselves and get an export licence with tax breaks, regardless of location. The SEZ scheme is more prescriptive, but is focused on areas that are being encouraged to develop. Areas other than the established 'metros' should be considered - obviously depending on the business in question. We have set up some centres in some of the tier 2 and 3 cities in India. This means that instead of people having to move to the large metros to look for work, we are creating job opportunities across a wider area - and of course the cost base in the tier 2 and 3 cities is lower than in the larger metros.http://www.ukibc.com/news_and_media/news/120405_matthew_vallance.aspxWed, 11 Apr 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120405_matthew_vallance.aspx On a chilly, wintry Saturday morning in Bangalore , Santhosh Unni , visiting chief executive of Costa Coffee in India, met Priyanka Golikeri in spite of a hectic schedule. The venue for the interview, a Costa outlet near the Ashoka Pillar in the IT city, acquired a sharp touch as it was located right next to competitor Café Coffee Day. "The location is good. Hence we chose to be here in spite of their presence," says Unni . Excerpts from the interview. Continue Reading http://www.ukibc.com/news_and_media/news/120412_demand.aspxThu, 12 Apr 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120412_demand.aspxIn a reversal of its policy, the civil aviation ministry is open to relaxing eligibility norms for Indian carriers planning to fly abroad. "We are open to relaxing eligibility norms required for Indian carriers to fly international. No one has approached us with a proposal to relax norms, but it can be looked at," said civil aviation minister Ajit Singh. He said relaxation in the eligibility norms would also depend on the merit of the case. Continue Reading here Subscribe to our Newsletter here for regular updates http://www.ukibc.com/news_and_media/news/120421_airlines.aspxWed, 25 Apr 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120421_airlines.aspxNotwithstanding global credit rating agency S&P's lowering India's outlook to 'negative', the country remains bullish and its long-term economic growth potential is 8-9 per cent, Deputy Chairman of Planning Commission Montek Singh Ahluwalia has said. Continue Reading here Subscribe to our Newsletter here for regular updates http://www.ukibc.com/news_and_media/news/120427_growth.aspxFri, 27 Apr 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120427_growth.aspxOver the last couple of years, ICICI Bank has taken time off to sort some of its issues. It is back on the growth track. The bank has managed to beat market expectations by a long shot on almost all key parameters. Net profit is up 31 per cent to Rs 1,900 crore, compared to market estimates of Rs 1,700 crore. The market was building in a 19 per cent growth but net profit has jumped substantially due to a 30 basis points (bps) rise in net interest margin (NIM) to three per cent. Over the last few years, ICICI Bank's NIM has lagged other private banks, but in this quarter the bank has shown substantial improvement, which has shored up its bottom line, too. That costs have remained stable has also helped. Continue Reading here Subscribe to our Newsletter here for regular updates http://www.ukibc.com/news_and_media/news/120430_icici.aspxMon, 30 Apr 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120430_icici.aspxNew Delhi, Oct. 20 -- Power cuts have become a norm rather than an exception. Come summers and people in the plains brace themselves for sweltering heat sans electricity. Manufacturing sector has to work that much extra to make sure their units remain productive enough to be profitable, despite the looming fear or erratic power supply. Presently, states such as Maharashtra, Tamil Nadu and Uttar Pradesh face regular power cuts. States such as West Bengal, which until now boasted of power surplus, are coming to realize quite on the contrary. Fast depleting non-renewable sources have forced the policy makers to look at alternatives. Here, nuclear energy comes into picture but more for the controversies than the power it can supply. The bottom line: Coal and oil prices are only set to increase and nuclear power, mixed in controversy and facing grave security and safety issues, has its own set of issues. The answer? Renewable natural energy sources such as wind and solar energy. The latter is gaining attention off late. And it's not just in India. Industry reports suggest that the global market for solar panels is set to touch $71.8 billion by 2017. It is estimated that India receives solar radiation of nearly 5,000 trillion kWH every year. This is almost equal to what India's total energy consumption adds to every year. The industry is coming around to the fact that such energy sources may just be the answer. Naturally, the Indian sector is looking at it with regained gusto. Take the latest activity in the sector, for instance. Moser Baer Clean Energy Limited (MBCEL), is the largest solar energy generation company in India and is the third largest company globally. The company is all geared to set up a 200 megawatt (MW) solar power capacity in the next year, with 95 MWs in Gujarat. In fact, the 30 MW solar farm commissioned by it in Gujarat is the biggest in Asia. Set up in Gunthawada village in Banskantha district of the state, the solar farm was inaugurated by Chief Minister Narendra Modi himself. Speaking on the occasion of the inauguration of 30 MW Gujarat solar farm at Gujarat, Deepak Puri, Chairman & Managing Director, Moser Baer India said, "I have to acknowledge the momentum-providing support and initiative by the Gujarat State Government under the capable leadership of the Hon'ble Chief Minister for envisioning Solar Energy projects as a financially viable, socially prosperous, and environmentally safe way of boosting the State's economy." Set up at a cost of Rs 464 crore over four months, the power generated from the farm will be distributed through two lines of 66 KV to two substations in Anganwada and Dunawada. It is estimated that nearly 50,000 households will benefit from the solar farm. Not just that, it will save carbon emissios of nearly 50,000 tonnes every year. Spread over 305 acres of land, the solar farm is expected to generate nearly 52 million kWH of electricity every year. Nearly 2,36,000 Thin Film modules including that of Moser Baer Solar have been used in the project, which are best suited according to the climatic conditions in the state and are known to generate more electricity than the assured levels. Hailing Gujarat policy initiative for tapping its potential for solar energy and the promptness on part of the administration for speedy implementation of the project, Ratul Puri, Chairman of Moser Baer Projects (MBPPL), the parent company of MBCEL, said, "The state of Gujarat is seen as one of the best solar power generation destinations due to its progressive solar policies, stable political and economic conditions and more importantly abundant availability of the day light. Commissioning of this 30 MW solar farm signals arrival of large scale solar farms in India. He further added, "As solar power is clean, abundantly available and reduces carbon emission, Moser Baer Projects is incessantly working towards commissioning of 300 MWs of solar projects in the next 12 months in India, Germany, Italy and UK. We shall have 100 MW operational capacity by the end of October, 2011 and plan to install more than 5 GWs by 2020." Rajya W. Ghei, Country Head, MBCEL says: We have used about 2,36,000 Thin Film modules including that of Moser Baer Solar which is the only solar company in the world to be awarded a 5-star rating for quality by TUV Rheinland for two years in a row. Additionally it will save about 50000 tonnes of carbon emission annually making this Gujarat Solar farm a beacon for other developers to follow." MBCEL itself is positioning itself as a leading solar farm developed in the country, with more than $100 million to fund its solar projects. It has other operational solar projects in countries such as Germany, the UK and Italy. It plans to set up nearly 1500 MW of solar power generation capacities in India by 2015. It intends to enter capital markets in order to raise funds for its solar projects as well as arrange finance from debts and receive cash from operational projects. The company is also of the view that solar power is the answer to India's increasing power needs, even though India's per capita power consumption at 600 units a year is lower than the 15,000 units in the US. In such a scenario, it is only solar and other alternative energy sources that can be tapped. The company is involved in other conventional and non-conventional sources of energy such as thermal and hydel. It also offers solutions such as power generation, power trading and engineering procurement commissioning. For India, the company has plans of commissioning 5,000 MW of thermal, 500 MW of solar and 520 MW of hydro projects in India. Established in 2008 with an aim to undertake development of renewable power projects all over the world, MBCEL is not only a project developer but also the owner and operator of solar power projects in the world. The company states its objective to "Utilize our technology heritage and tap global expertise to establish best in class solar power plant to deliver affordable solar power." Akhil Gupta, Chairman of Blackstone India and an investor in MBPPL, adds "We are excited about the potential of the energy sector as demonstrated by our largest investment in India -a $300 million commitment to Moser Baer Projects. We are happy that in a small way, the solar farms in Gujarat will help bridge India's energy deficit through generation of electricity from renewable sources. The management team has done an exceptional job in executing this challenging project in a short period of time. The Blackstone Group and Moser Baer are committed to building India's infrastructure through sustainable means in partnership with local communities. We are proud that the company has been able to generate large employment opportunities at local level." The Moser Baer Projects Private Limited (MBPPL) is working on the development of power assets by using both conventional as well as non-conventional sources of energy. One of the fastest growing power companies in India, MBPPL offers end-to-end services in areas of operation. In the pipeline, the company has over 6,100 MW of power projects. Moser Baer Power & Infrastructures Ltd (MBPIL), is currently constructing thermal power plants with the capacity of 3,840 MW in Madhya Pradesh and Chhattisgarh with an investment of nearly Rs 20,000 crore. These include the 2,520 Mw plant at Anuppur in Madhya Pradesh and the 1,320 MW unit at Champa in Chhattisgarh. The company also has coal linkages with South Eastern Coalfields Ltd, a subsidiary of Coal India Ltd. Two hydel projects are expected to come up in Himachal Pradesh from 2015, and will produce 520 MW of electricity from the Chenab River. It will require an investment of Rs 7.50 crore per MW on these projects. MBPPL is slated to rise rapidly as a power company with a bouquet of renewable and nonrenewable energy producer which is critical to nation's growth and will thus fulfil its dream of powering the nation in a clean, sustainable manner, continuing to create value load which is central to national development. Published by HT Syndication with permission from MINT. For any query with respect to this article or any other content requirement, please contact Editor at htsyndication@hindustantimes.com Read the full article on Power Engineering website http://www.ukibc.com/news_and_media/news/heating-things-up.aspxThu, 20 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/heating-things-up.aspxMumbai: Tata Motors, India's largest truck maker, will start making its light commercial vehicles (LCVs) including its largest selling Ace mini-truck, at its Dharwad plant in Karnataka from the third quarter this financial year. At present, the company's Pantnagar plant makes Ace mini-truck at full capacity. "We are increasing the production at Dharwad and would start producing our LCVs from there in the next quarter," Ravi Pisharody, president, commercial vehicles business unit at Tata Motors told FE in an interview on October 18. Dharwad plant now makes Marcopolo buses by Tata Marcopolo Motors, a joint venture between Brazil's Marcopolo with 49% stake. Tata Motors did not divulge the investments made to build plant. The Dharwad expansion will be part of the investment planned by the company to spend around R3,000 crore a year on expansion and upgradation until 2014, C Ramakrishnan, chief financial officer, Tata Motors, had said in an interaction with FE. The LCV unit, which will be build in the same location, will make Magic Iris and Ace Zip launched in May. During the launch, the company said it would hike Pantnagar capacity by 1 lakh units to 3.5 lakh units a year. Tata Motors, that had a first mover advantage with introduction of Ace in 2005, is faced by intense competition by other carmakers including Mahindra & Mahindra (M&M), Ashok Leyland with Nissan, and Piaggio Vehicles (PVPL). The company has been looking at ramping up capacity and guarding its market share in the ever increasing competition. Tata Motors holds around 70% market share in the LCV segment. M&M is second in league in the LCV segment after Tata Motors with a sale of around 60,000 units between April-September. "Tata Motors never expected the competition products to do so well. Today, M&M's Maxximmo is giving a run for the money," an auto industry consultant said. He added that the expansion of the capacity at Dharwad is a move to strengthen its market share in the segment and prepare for competition. Moreover, a chunk of the Ace family of products are also reaching replacement cycle, and hence, experts feel Tata Motors does not want to miss the opportunity. Tata Motors will start by making 30 Ace Zip and Magic Iris units a day, which will be scaled up to 9,000 units a year. Between April and September, Tata Motors sold 1,21,918 units in India, a 35% rise from the same period previous year. Read the full article on Financial Express website http://www.ukibc.com/news_and_media/news/tatas-dharward-plant.aspxFri, 21 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/tatas-dharward-plant.aspxMahindra & Mahindra wants to build an SUV that weighs less than a tonne, Maruti has saved Rs 147 crore by working on one-gram weight reductions on components... all because customers want lighter cars that drink less fuel and cause less pollution, writes Lijee Philip Cars have become sophisticated machines compared to what they were in the seventies. For example , engines can now think and make independent decisions on the use of fuel to generate just the right amount of power. With infotainment and telematic systems, passengers can now do in their cars pretty much everything they do at home or at work. Cars are now stronger and safer, providing better handling and passenger comfort. All this is great news. But there is also bad news: the average weight of a car has doubled. Read the full article on Economic Times website http://www.ukibc.com/news_and_media/news/what-mahindra-mahindra.aspxTue, 18 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/what-mahindra-mahindra.aspxThe UKIBC welcomes the news that the Indian Government will permit FDI of up to 51% in multi-brand retail, as well as a simultaneous increase from 51% to 100% FDI for single brand retail. The move will open the way for UK companies to invest in the Indian retail market, which will be highly beneficial for both Indian - farmers, SMEs, and consumers - and for UK Businesses. Read the full press release here http://www.ukibc.com/news_and_media/articles/251111_51percent.aspxFri, 25 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/251111_51percent.aspx For anyone who's ever tried to look up the menu of a restaurant in India to see if they offer a particular type of chicken kebab and had to sort through blurry, user-scanned copies uploaded onto sites like burrp.com or zomato.com, Google's latest initiative will come as a welcome fillip. On Wednesday, Google India began offering free websites, hosting, maintenance and training to SMEs in an effort to get more of the 8m small businesses in India online. But there is, of course, something of a catch… ( Read more ) http://www.ukibc.com/news_and_media/news/041111_google_sme.aspxFri, 04 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/041111_google_sme.aspx NEW DELHI: The multi-billion dollar deal to procure 126 combat aircraft for the Indian Air Force (IAF) entered its last phase on Friday with Defence Ministry opening commercial bids of the two European contenders to determine the lowest bidder, a process that is expected to take six to eight weeks. "The Contract Negotiations Committee (CNC) of the Defence Ministry opened the commercial bids and read out the offers made by the Eurofighter and Dassault Rafale in the presence of their representatives. Now the Ministry will evaluate and examine their proposals to arrive at the lowest bidder (L1)," a Defence Ministry spokesperson said here… ( Read more ) http://www.ukibc.com/news_and_media/news/041111_indianaf_contract.aspxFri, 04 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/041111_indianaf_contract.aspx NEW DELHI: Global financial services major Barclays Capital today said India's economy is likely to register an annual growth rate of 7-8 per cent, below the country's full potential, in next 3-5 years. "We expect India to register growth of 7-8 per cent over the next 3-5 years, depending on the global growth cycle and the absence of any large-scale weather aberrations… ( Read more ) http://www.ukibc.com/news_and_media/news/071111_barclays_growth.aspxMon, 07 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/071111_barclays_growth.aspx NEW DEHLI: Eight years earlier, Ranbaxy, the country's largest drug company, created a stir by challenging the patent on the world's highest revenue earning medicine, Lipitor, in the US. Today, domestic pharmaceutical majors are talking less of patent litigation and more of patent settlements. Companies such as Ranbaxy and Dr Reddy's were known for big acquisitions. Now, the focus is on smaller deals, catering to niche segments and markets. The fight seems to be giving way to partnerships and experts consider this the new way forward… ( Read more ) http://www.ukibc.com/news_and_media/news/071111_partnership_pharma.aspxMon, 07 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/071111_partnership_pharma.aspx "History is being written in Cannes," trumpeted billboards around the Mediterranean resort city when world leaders met there last week. And it was, though not as the French might have hoped. Nicolas Sarkozy had no lesser ambition when France assumed the presidency of the Group of 20 last year than to oversee a complete overhaul of the international monetary system. His ambitions were dashed by the European debt crisis and a failure by the advanced economies to provide solutions for a global economic crisis largely of their making… ( Read more ) http://www.ukibc.com/news_and_media/news/081111_india_g20.aspxTue, 08 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/081111_india_g20.aspx MUMBAI (Dow Jones)--India's Tata Consultancy Services Ltd. said Wednesday it received a $2.2 billion (GBP1.37 billion) outsourcing contract, its second-largest order ever, from U.K.-based financial services company Friends Life. The 15-year order comes at a time when Indian technology outsourcing companies are indicating a squeeze in business growth in Western markets due to fears of an economic slowdown. The multi-billion dollar deal also allays industry fears of shrinking deal sizes in the outsourcing market and contrasts the stance at some of TCS's rivals who have been complaining of delays in spending decisions by clients… ( Read more ) http://www.ukibc.com/news_and_media/news/091111_tcs_order.aspxWed, 09 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/091111_tcs_order.aspx NEW DELHI/CHENNAI: Former President APJ Abdul Kalam has come out with a 10-point plan for the development of the area around the Kudankulam Nuclear Power Project, even while reiterating his satisfaction over the safety net in place at the site to prevent a Fukushima-type tragedy. The confidence-building measure was aimed at persuading anti-nuclear energy campaigners to give up their opposition to the plant. The action plan includes creation of 10,000 jobs, construction of a four lane highway connecting Kudankulam with other major towns of Tamil Nadu and a world-class hospital… ( Read more ) http://www.ukibc.com/news_and_media/news/101111_apjplan_highway.aspxThu, 10 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/101111_apjplan_highway.aspx NEW DELHI: Max Healthcare announced three top management appointments in a bid to strengthen its organisation. Dr Ajay Bakshi has been appointed as the Chief Executive Officer, Dr Abha Agrawal as the Chief Operating Officer and Mr Ranvir Bhandari as the Chief Services Officer… ( Read more ) http://www.ukibc.com/news_and_media/news/101111_newceo_maxhc.aspxThu, 10 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/101111_newceo_maxhc.aspx NEW DEHLI: With the soaring number of women workforce in India, who are splurging not only on themselves but also on kids and families, retailers in India are courting them with special focus. Earlier this year, Planet Retail transformed its men's-centric department store Debenhams into a women-focused outlet by skewing the merchandise in favour of women. At present, women products as a category contribute about 65% of Debenhams sales as against 40% last year. At Shoppers Stop where same-store-sales are growing at about 9% annually, women's categories are growing by 25%... ( Read more ) http://www.ukibc.com/news_and_media/news/101111_retail_women.aspxThu, 10 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/101111_retail_women.aspx BANGALORE: Several Indian software product companies now command or are close to commanding valuations of $1 billion, a sign that the software products space is coming of age in a country whose strength in technology has so long been in services. Online travel company Makemytrip, which listed on the Nasdaq last year, had a valuation $1.13 billion at close of trade on Monday. Mobile ad network InMobi, which closed a $200 million funding in September, is close to touching a billion dollar valuation… ( Read more ) http://www.ukibc.com/news_and_media/news/101111_software_valuations.aspxThu, 10 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/101111_software_valuations.aspxNEW DELHI: New infrastructure projects in Gujarat, Andhra Pradesh, West Bengal, Tamil Nadu and Orissa are set to get a major push in the five years starting 2012 as various government agencies will be prioritising building of roads, rail networks, airports and sea ports in these states that are setting up mega petroleum and petrochemical investment regions. Five massive regions meant to attract investments in the petrochemical and allied sectors are now at various stages of implementation at Dahej in Gujarat, Visakhapatnam-Kakinada in Andhra Pradesh, Haldia in West Bengal, Paradeep in Orissa and Cuddalore and Nagapattinam in Tamil Nadu. These investment zones, each of which is not less than 250 square kilometres, are expected to attract a collective investment of R8,63,664 crore and create more than 40 lakh jobs during the 12th Five-Year Plan. The idea is to give a boost to the domestic manufacturing sector and to capitalise on the rising Asian demand for petrochemicals. It is the responsibility of the government to provide infrastructure connectivity to realise this ambitious plan. Read the full article on Financial Express website http://www.ukibc.com/news_and_media/news/110701-five-states.aspxMon, 01 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110701-five-states.aspx MUMBAI: The state cabinet has put a full stop to the decade old rate-contract system adopted for the procurement of the medicines for state-run hospital. Apart from curbing corruption involved in the procurement, the government also has claims that the e-tendering system provides better quality and cheaper rates. Medicine purchasing for state-run institutions was the responsibility of the Directorate of the Medical Education and Research. The annual purchase of medicines is Rs300 crore, including Rs75 crore of medicines procured for the hospitals attached to the medical colleges and come under the medical education department. After the cabinet nod on Wednesday the public health department has claimed that the new system will be corruption free. Read the full article on DNA website http://www.ukibc.com/news_and_media/news/110726-e-tenders-medicines.aspxTue, 26 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110726-e-tenders-medicines.aspxAureos Capital Ltd, a private equity (PE) firm focused on emerging markets, will invest as much as 15% of its next fund corpus in companies that are based in smaller Indian cities, betting that growth in select small towns will outpace the nation's top cities. The PE firm is raising $200 million (around Rs.890 crore) for its next India fund. Aureos will focus on companies in emerging industries and cities that are experiencing strong growth, but are available at cheaper valuations than the rest of the market as they are yet to grab the attention of traditional investors, who tend to be more active in metros. "Our belief is that a lot of growth will happen in the tier II and III cities in the next 5-20 years. This growth will be triggered by the huge consumption and demand generated in these places," said Balaji Srinivas, managing partner at Aureos India Advisers Pvt. Ltd, adding that this move would also set them apart from other investment funds. Companies based in India's top cities such as Mumbai, Bangalore and New Delhi attract the bulk of investments from PE and venture capital funds, inflating valuations of these companies and crimping returns of the funds. Increasing competition to fund companies with sound business propositions has forced PE firms to look for firms in smaller cities such as Patiala and Raipur, where valuations are reasonable. A good firm may attract as many as 10 suitors to fund them, said Srinivas. "A lot of funds are there in the above $20 million category, so the competition is high. We can't wish that away. There is far too much capital chasing too few good companies," he said. "There would be pricing pressure." Read the full article on LiveMint website http://www.ukibc.com/news_and_media/news/110727-aureos-capital.aspxWed, 27 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110727-aureos-capital.aspxMUMBAI: Medicine makers are not alarmed by the shadow of a slowdown cast over other manufacturing sectors. Unlike sectors like steel or even the fast-moving consumer goods (FMCG) segment, pharmaceuticals remain largely insulated, say pharma industry representatives, even as they battle with rising input costs. What is worrisome, though, is the Government's policy paralysis, they add. Consumption of a medicine is not by choice that you can postpone a particular event of decision to another day, says Mr Anjan Sen, Director with consultant firm, Deloitte Touche Tohmatsu. Besides, the focus on outsourcing will not go away, as developed countries, recovering from a slowdown, still need to collaborate with economical partners, he adds. Pharmaceutical sector The domestic pharmaceutical sector will continue to grow at a steady trot of about 14 per cent, though it could do much better with a little support from the Government, he points out. The Government's long-standing commitment to increase its spending on healthcare, for instance, is still to bear fruit. If basic healthcare programmes are implemented across the country, primary healthcare centres are well stocked up with medicines and health insurance is given a major thrust, domestic drug makers will do much better, he observed. Paralysis There is no slowdown at present, given the present demand for medicines, points out Mr D.G. Shah, with the Indian Pharmaceutical Alliance. However, given the policy paralysis of the Government, top brass at companies are thinking twice before making investments in the sector, he points out. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110727-pharma-industry.aspxWed, 27 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110727-pharma-industry.aspxCHENNAI: The Indian information technology is in need of more 'specialists' even as the industry is tapping new markets and getting engaged with new global customers, said Mr Som Mittal, President, Nasscom. The IT industry is to touch revenue of $70 billion and employ nearly 2.8 million - making it one of the largest employers in the organised sector. "We should move from trainable [students] to industry-ready to specialists. This is the movement that the IT industry should work on by finding out new ways of doing things," he said in his inaugural speech at the two-day Nasscom HR Summit. Specialisation Mr Mittal said the educational system is also under pressure to train students to become specialists in any area, such as remote management system, software engineering, engineering services, CADD design or third party software report. "Our colleges produce research students but not specialists in a sector," he said. The IT industry should accelerate the process of specialisation among students - this is important for the industry, he said. Capacity Regarding shortage of capacity for the industry, Mr Mittal said this was not a major issue. However, the industry needs to put in more effort to increase the capacity. The number of engineering colleges has nearly doubled to 3,300 from 1,700, and around 6,50,000 graduates enter the job market every year. This number will increase to one lakh in the next couple of years. Graduates should not only be trainable but also employable, then companies would not need to spend 18 weeks on training, he said. The industry annually spends nearly $1.3 billion on training and 're-skilling' students, putting enormous pressure on companies' operating costs. "We need to increase the pool of trainable people," he said. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110728-indian-it-needs.aspxThu, 28 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110728-indian-it-needs.aspxMUMBAI: Taking a cue from government's interest in raising funds for infrastructure financing, the Securities and Exchange Board of India (Sebi) has allowed both existing mutual funds and non-banking finance companies (NBFCs) to launch infrastructure debt funds (IDFs). Schemes would invest 90 per cent of its assets in debt securities of infrastructure companies or special purpose vehicles (SPVs) across all infrastructure sectors. Funds could launch close-end schemes that have a maturity of more than five years or it could also introduce interval schemes with a lock-in period of five years. Even companies that have been in the infrastructure financing sector in the last five years can set up a fund. Under the guidelines, these companies can have a minimum of five investors where no single investor shall hold more than 50 per cent of assets. Strategic investors could invest up to to Rs 25 crore in the fund. The minimum investment into the fund would be Rs 1 crore with the minimum lot size being Rs 10 lakh for the unit. "Given that, the quantum of funds that can be invested is high, it will attract institutional buyers and high networth individuals (HNIs)," says Amar Ranu, senior manager, third-party products research, Motilal Oswal Wealth Management. However, one can expect some liquidity since the fully paid units of the funds shall be listed on stock exchanges. Mutual funds launching these funds may issue partly paid units to its investors. Read the full article on Business Standard website http://www.ukibc.com/news_and_media/news/110729-nbfcs-mfs.aspxFri, 29 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110729-nbfcs-mfs.aspxBANGALORE: When Vivek Lall, the former head of Boeing Defence Space and Security, decided to take up Mukesh Ambani's offer to head Reliance Industries' foray into the homeland security and aerospace sectors in April, it was the most significant message ever broadcast by India's private sector. That it was now ready to cut itself a sizeable portion of the lucrative defence pie. While the 'poaching' of Lall by the energy-to-telecom behemoth has possibly been the most high-profile executive hiring in recent times, a number of India's industrial conglomerates, including the Tata Group, Larsen & Toubro, Ashok Leyland and the Mahindras, have also been on the prowl for the best talent available to spearhead their defence ventures in the country. The coming together of Ambani and Lall, the man responsible for Boeing scooping almost $8 billion worth of military orders in India in just four years, is a clear indication of the former's intent to establish RIL's presence in the defence space. But for once, Asia's richest individual is not leading the charge. For example, the $7-billion Mahindra Group has entered into a jointventure, called Defence Land Systems, with Europe's largest defence vendor, BAE Systems. This has been set up to manufacture armoured vehicles and artillery guns for the armed forces. Heavy engineering major Larsen and Toubro (L&T) also has tied up with the European Aeronautic Defence and Space company (EADS) to set up a $20 million joint venture to manufacture and market electronic warfare equipment, radars and avionics. Tata Advanced Systems, has signed an agreement to form Tata Lockheed Martin Aerostructures, which will build aerostructures for C-130J aircraft manufactured by Lockheed. The positions being scouted for, are across the board, from chief executives and chief strategy officers, to senior design engineers and heads of sales for defence. Read the full article on Economic Times website http://www.ukibc.com/news_and_media/news/110802-tata-group.aspxTue, 02 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110802-tata-group.aspxNEW DELHI: Tata Motors today said it is looking to set up assembly operations for its small car Nano in overseas locations, including Asean region and Latin America. While the company has started exports of completely built units (CBU) of the Nano to Sri Lanka and Nepal earlier this year, it is considering the option of assembling the Nano abroad through export of completely knocked down units (CKD). "There are many important markets for the Nano, such as the SAARC countries, ASEAN nations and Latin American region. So we are studying those markets," Tata Motors' Managing Director, India Operations, Mr P.M. Telang, told reporters here. He was responding to a query on whether the company plans to set up manufacturing plants overseas for the Nano. "Looking at the potential, we can think of the CBU route at first and later we may think of CKD operations...At present we are considering many countries for CKD for Nano but there is no timeline," Mr Telang added. Tata Motors started exporting the Nano in April with the shipment of 498 units to Sri Lanka, the first overseas destination. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110802-tata-motors-looks.aspxTue, 02 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110802-tata-motors-looks.aspxPUNE: Defiance Technologies, an end to end engineering services provider for the manufacturing sector from the Hinduja Group, has set up a centre in Pune. The 50-seater centre will ramp up to 500 people by December 2012, Subu D Subramanian, managing director and CEO, Defiance Technologies, said. "This centre will have an automotive and engineering focus, from design to engineering. We have two customers, a UK based automotive company and a US based company in the oil and gas sector, who want a centre of excellence in Pune. We will start with design and styling and subsequently, if needed, we could set up a proto-shop here. At present, we have a prototyping facility in Chennai, offering full service from design to prototyping," Mr Subramanian said. Its aerospace practice is based in Bangalore. Defiance Technologies, acquired by the Hinduja group in 2007, is headquartered in Chennai with offices and development centres around the world. Read the full article on Economic Times website http://www.ukibc.com/news_and_media/news/110804-defiance-tech.aspxThu, 04 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110804-defiance-tech.aspxBANGALORE: D.V. Sadananda Gowda was Thursday sworn in as Karnataka's 20th chief minister at a brief ceremony on the lawns of Raj Bhavan here. Governor H.R. Bhardwaj administered the oath of office to Gowda as the ruling Bharatiya Janata Party's (BJP) second chief minister in south India at 4.30 p.m. The 58-year-old Gowda took oath in Kannada in the presence of several dignitaries, former BJP ministers, including his predecessor B.S. Yeddyurappa, opposition leaders, top civil and police officials, his family members and hundreds of his supporters. The absence of former rural development minister Jagadish Shettar, who lost to Gowda in the election to the post of the BJP legislature party leader Wednesday, was conspicuous though party's Bangalore South MP H.N. Anantha Kumar was present. Contrary to reports during the day, only Gowda took oath and no other lawmaker or party leader was sworn in as minister. Read the full article on expressbuzz website http://www.ukibc.com/news_and_media/news/110804-sadananda-gowda-sworn.aspxThu, 04 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110804-sadananda-gowda-sworn.aspxMUMBAI: Stronger growth prospects, lesser competition, higher yields and profitability comparable to the larger cities make Tier-II markets an extremely attractive proposition for financiers, according to credit rating agency Crisil. The rating agency expects increasing finance penetration and the entry of more players to drive growth in retail loan demand in Tier-II cities. The growth prospects in 15 Tier-II markets - Bhopal, Coimbatore, Indore, Jaipur, Kanpur, Kozhikode, Lucknow, Ludhiana, Madurai, Mysore, Nagpur, Nashik, Rajkot, Thiruvanathapuram and Visakhapatnam - are extremely strong, Crisil said. Loan disbursements In its report, Crisil has assessed that car loan disbursements in 10 of the 15 markets are expected to grow at around 20 per cent CAGR (compounded annual growth rate) over the next two years as compared with 13 per cent CAGR in the larger cities. In seven of the identified Tier-II cities, loans against property disbursements would grow faster than the rest of India. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110805-tier-ii-cities-attract.aspxFri, 05 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110805-tier-ii-cities-attract.aspx NEW DELHI: India and European Union are at an "intense" stage of negotiations for reaching the much-delayed free trade agreement, hoping that a deal can be struck before their annual summit in February. "Intense efforts are underway. Both the sides are determined to conclude the negotiations, preferably before India-EU Summit in February here," the Commerce Secretary, Dr Rahul Khullar, told PTI… ( Read more ) http://www.ukibc.com/news_and_media/news/111031_indiaeu_fta.aspxMon, 31 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111031_indiaeu_fta.aspx The past week saw a crescendo of media exposure leading up to India's first Formula 1 race - the Indian Grand Prix. For the resolute few who had nurtured this sport from its earliest days over five decades ago, this was a day for India to truly celebrate. Yet, justifiably, questions have been raised on the relevance of Formula 1 to India. So, as the orange sun was dimming in the hazy Delhi sky on Sunday, it was appropriate to ponder what all this really means. First, we must recognise at least three manifestations of Formula 1 - as a pinnacle sport, a technology and auto-industry showpiece, and a global entertainment and media extravaganza…( Read more ) http://www.ukibc.com/news_and_media/news/111101_f1_economy.aspxTue, 01 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111101_f1_economy.aspx After months of suffering, the Indian economy got a double-dose of good news on Tuesday. For the first time in six months, Indian manufacturing made significant gains in October, according to PMI figures released by HSBC and Markit. Meanwhile, September's export figures, released by the Ministry of Commerce & Industry, showed a 36.4 percent increase to $24.8 bn from the same month last year, driven largely by India diversifying beyond the US and eurozone as export destinations... ( Read more ) http://www.ukibc.com/news_and_media/news/111101_pmi_exports.aspxTue, 01 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111101_pmi_exports.aspx The idle cash in your bank account will now have more value. This is because the Reserve Bank of India has freed the savings bank deposit rates, a move bankers say could fetch better returns for depositors as competition intensifies. "This pathbreaking regulation will enhance and protect the savings returns from the brunt of persistent inflation," says Rana Kapoor, managing director and CEO, YES Bank. According to the RBI, the banks will have to offer a uniform interest rate on deposits of up to Rs 1 lakh. For savings deposits above this amount, the banks will be free to offer differential interest rates. Says Pawan Agarwal, director, Crisil Ratings: "This will result in increased competition among banks, and small- and medium-sized banks, which are trying to increase their retail deposit base, are likely to be the first movers in increasing the interest rates." ( Read more ) http://www.ukibc.com/news_and_media/news/111101_savings_deregulation.aspxTue, 01 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111101_savings_deregulation.aspx Tata Consultancy Services CEO N Chandrasekaran who will give the key note speech at the UK India Business Council Annual Networking Summit in Manchester speaks to the UKIBC about attractiveness of the UK market and business opportunities for UK companies in the Indian IT and Communications sector. Do you believe that the UK is an attractive market for Indian IT companies such as TCS? Please state why? N Chandrasekaran: The United Kingdom continues to be an attractive market, not simply because of its size or relative maturity but because it is a very dynamic market that attracts the best in technology, talent and investment across the spectrum of industries. It is competitive and open markets and companies who want to create a global footprint for their brands and services have to make an impact in the UK. Today, TCS derives over 15% of its global revenues from the UK & Ireland, which is second only to our operations in the US. Several other factors such as a shared language, ease of doing business, a long standing economic and social relationship, make it very attractive for Indian businesses in IT or even in other sectors to consider the UK as an significant component of their globalization plans. Why did TCS choose the UK for its operations? NC: TCS and the entire Tata group have had a long relationship with the UK. We entered the UK market 37 years ago in 1975, as part of our pioneering vision to create a global delivery model for IT services and build the India brand. Our operations and investments in the UK have expanded exponentially and is an extremely material part of our business. The UK houses great companies across sectors including financial services, banking, insurance, manufacturing, retail, telecom with whom we partner for their technology requirements. Moreover, the attractive business ambience, great infrastructure and talent make it an extremely compelling business destination. How many staff do you have in the UK? NC: We have almost 8,000 staff based across multiple locations across the UK. Globally we are welcoming a new hire to our company every 8 minutes and the UK is one of the top contributors of international talent to our company. Do you have any plans for an expansion here in the UK, similar to your recent expansion in the US' Silicon Valley? NC: We have been expanding consistently in the UK. Just in the last 5 years since 2006, we have doubled the size of our operations in the UK. We operate one of our largest operations centers for the life and pensions industry right here in the UK through our subsidiary - Diligenta. The unit has a large center and head office in Peterborough, along with a presence in Liverpool, Basingstoke and Bournemouth. In which areas and sub sectors do you see most UK-India business growth? NC: In 2011 the trade between UK and India stood at the GBP 13 billion level, which demonstrates good growth in relative terms but in absolute terms, I believe there is significant head room for expansion. Currently, the UK is only a top 15 trade partner for India, accounting for 2.2% of India's overall trade. This leaves room for deeper trade and relationships across a broad range of sectors from Pharmaceuticals and Biotech to Information technology and financial services. India's rapidly expanding consumer market (by 2030 India will likely emerge at the world's 3rd largest economy and account for 27% of the global middle class) also provides a expansive potential opportunity for British businesses. Many British companies are already well established in India but there is room for many more. What advice would you give to UK businesses looking at India? NC: The opportunities in India are plentiful with a growing middle class, rising disposable incomes and good GDP growth in the range of around 7 per cent in this current fiscal year. But new entrants also have to remember, it is also very competitive, fragmented and hence unique and complex. I would advise them to really do their homework - study the unique local customer behaviour, local regulations, supply chains, constraints and risks - in order to get their strategy right the first time. There are many successful UK businesses for them to emulate. What are the main challenges faced by an Indian technology company in the UK? NC: Shortage of good talent is a constraint, like all developed markets. We are working intensively with major schools and universities in the UK to orient the youth of the country towards working in a globalized world. The government, for its part, has always been supportive of investors and British companies have understood the value that the Indian IT services industry can provide to help them remain efficient and grow their businesses. What is your advice to UK SMEs who have not yet done any business with India? NC: I will make just two points. Looking at India as a single homogenous market is a mistake - there are strong regional nuances, customs, preferences and languages, so businesses should either pick a few niches or really study and account for customization when going for a nationwide strategy. Secondly, if it is the first time the company is entering the market and has no previous experience in dealing with it, then the right local partner can add value. How has the TCS helped UK businesses enter the Indian market? NC: IT has fast become the backbone of any business and over 85% of the real economy depends on IT to function in one way or the other. As their technology partner,we work with many of our 150+ UK clients ( including 25 of the FTSE 100) in strengthening their operating models, systems and infrastructure to enable their scalable international expansion. The wide operations we have in India and other emerging markets, provides them a ready made global partner which can follow them to any market they expand into and support their business. Let me share one example - UK based United Biscuits was looking at a foray into India on an aggressive timeline. To enable it they needed a core IT system in place in double quick time, but implementing a full scale ERP system in this timeframe would have been very risky and could have jeopardized production. We implemented our ION(tm) solution - a cloud computing based on-demand ERP service - which allowed them to set up in India with ease.http://www.ukibc.com/news_and_media/news/111221-interview-chandrasekaran.aspxThu, 23 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111221-interview-chandrasekaran.aspxThe Indian Government will facilitate five more National Manufacturing Investment Zones, according to Mr Talleen Kumar, Joint Secretary, Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, Government of India. Read more here Discuss here http://www.ukibc.com/news_and_media/news/120208-five_more_manufacturing_zones_proposed.aspxTue, 07 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120208-five_more_manufacturing_zones_proposed.aspx"After the sharp reaction following India's decision to go in for the French Rafale multirole fighter aircraft, the British are attempting to come round and grudgingly accept the loss of Eurofighter Typhoon in the over $10-billion deal" Read more here Discuss here http://www.ukibc.com/news_and_media/news/120209_uk_wants_enduring_defence_ties.aspxWed, 08 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120209_uk_wants_enduring_defence_ties.aspx Harjiv Singh, the founder of Gutenberg Communications, shares his thoughts on how companies can create brand loyalty with customers in India. 1. How important are branding and positioning for companies? Branding and positioning are essential to create product or service differentiation from one's competitors. Virgin is an excellent example of a brand that cuts across various industries like airlines, music, railways, and even mobile services. But the one thing it represents is the brand values it promises consumers. India's rapidly growing market across all industries will also require brands to create a unique positioning for themselves to differentiate from competitors. 2. When entering India, should Western companies have a different communications strategy? Why? With nearly 1.2 billion people, 29 states and nearly 22 recognized languages, India requires a deep understanding of the target audiences, as well as regional and cultural differences, to help create effective communications strategies. While India is perceived as a country where English is spoken widely, this only true of 125-150 million people - less than 11% of the total population. Companies need to understand the widespread use and importance of local and regional languages in creating communications strategies. In formulating these strategies, companies should keep their intended target audience in mind. 3. What's your advice to British companies entering India, especially in FMCG? FMCG companies should understand two key things about India - demography and geography. Demographically, nearly 54% of India's population is under the age of 25 years. Geographically, only 30% of Indians live in urban areas whereas 70% live in semi-urban and rural parts of the country. It is this 70% in tier II and III cities and towns that will witness the strongest consumer growth in the next decade. 4. How would you describe an Indian consumer? Is he/she different from a Western consumer in terms of buying behavior? I recently read a wonderful encapsulation about the Indian consumer which holds some truths. To paraphrase the executive who said it: In India you have to focus on "ABCD: Astrology, Bollywood, Cricket & Discounts." I would also add "P" for Politics to the list of consumer traits that cut across the whole of the country. 5. What are best channels for promotion in India? Online or offline? Today, India's online penetration is only about 10%-15% of the total population. However, India's current internet status is akin to that in the US and Europe in the late 1990's and is set to see rapid growth over the next 2-3 years with the roll-out of broadband connectivity and mobile penetration. Media is a growth industry in India, unlike in Europe and North America, and it is important to keep a combination of both online and offline channels as part of your communication strategy. 6. Your top five branding tips to British business looking to do business in India? Rome was not built in a day and neither are brands. Companies need to proactively communicate, especially in the rather diverse markets of India, using multiple channels. The following are five PR/Communications tools that will help build your brand in a credible manner today. Media: Build strong relationships with the media as they provide third party credibility to your brand. Speakers Bureau: Position your senior team at key conferences and events, which will allow your brand to build thought leadership. Search Engine Optimization (SEO): Your online reputation is critical. An effective SEO strategy to position your brand using keywords is very important. Awards: Positioning your company and executives for various awards helps build credibility for the brand. Social Media: Social media enables you to create and disseminate original content that allows you to reinforce your brand's thought leadership and it also helps you engage directly with your customers. http://www.ukibc.com/news_and_media/news/181011_harjiv_singh.aspxTue, 18 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/181011_harjiv_singh.aspx After missing four deadlines, India's outsourcing and IT hub, Bangalore, finally inaugurated South India's first metro on Thursday amid great fanfare. But whether the state-of-the-art urban railway system will do anything to alleviate the city's infamous traffic problems still remains to be seen. Equally as important is the question of India should marshal its limited resources now that it is finally beginning to invest more and more in its failing infrastructure… ( Read more ) http://www.ukibc.com/news_and_media/news/bangalore_metro_211011.aspxFri, 21 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/bangalore_metro_211011.aspx Having set a target to award 23 major port development projects through the public private partnership (PPP) route in 2011-12, the ministry of shipping has decided to take up the issue of security clearances with the ministries of home affairs, external affairs and defence besides the Cabinet Secretariat and the Intelligence Bureau on an urgent basis. According to officials, 10 major port development projects involving an investment of about Rs 6,000 crore are awaiting security clearance from various agencies of the government. "We have entered the third quarter of this fiscal, but awarded just one project. We have circulated a note calling for a meeting of representatives of all concerned ministries and departments to expedite security clearances for these projects," a shipping ministry official told The Indian Express. The lone project awarded is the fourth container terminal at Jawaharlal Nehru Port Trust at an estimated investment of Rs 6,700 crore, which has been bagged by ABG Ports. The shipping ministry needs to meet an investment target of Rs 20,000 crore this year as far as award of major port development projects are concerned. "It is imperative the committee of secretaries (CoS) meets soon to resolve all pending issues related to security so that we can go ahead with the bidding process," the official said. In projects where the security nod is pending, the ministry of home affairs has not given any comments so far, say officials. While the Cabinet Secretariat has been pro-active in giving its consent, some other ministries too have sought additional information and given comments on certain projects. Two large capital intensive projects awaiting consent are the dry bulk terminal at Kandla and the deepening and widening of the Mumbai Harbour Channel at JNPT. The estimated total project cost for the two projects is Rs 1,060 crore and Rs 1,360 crore, respectively. The shipping ministry had sought security clearance for both the projects in early August this year. Other projects awaiting nod include development of north cargo berths III and IV at Tuticorin Port, a multipurpose cargo berth at Kandla, a single-point mooring terminal at Kandla and conversion of eighth berth as container terminal at Tuticorin. http://www.ukibc.com/news_and_media/news/bidsfor50percent.aspxWed, 12 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/bidsfor50percent.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/news/bigger_role_umbai.aspxThu, 08 Jul 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/bigger_role_umbai.aspx LONDON: Bric tourists aren't afraid to spend and they could be doubling the amount they pour into the UK to some £1.8bn by 2015 if VisitBritain, the UK's national tourism agency, has its way. The Brics' growing middle classes spend twice as much on their holidays as the average tourist and Sandie Dawe, the agency's chief, wants to make sure they do their spending in the UK. She predicts that by 2014 there will be over 1.1m Bric visitors - an increase of over one third on last year… ( Read more ) http://www.ukibc.com/news_and_media/news/bric_tourist_131011.aspxThu, 13 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/bric_tourist_131011.aspx Normal 0 0 1 50 287 2 1 352 11.1287 0 0 0 Normal 0 0 1 50 287 2 1 352 11.1287 0 0 0 NEW DEHLI: The Union Cabinet today approved a scheme to set up a National Optical Fibre Network (NOFN), which will be used to provide broadband connectivity to village-level bodies - Panchayats. The project cost is expected to be "of the order of Rs 20,000 crore". A special purpose vehicle (SPV) will be formed to execute the network… ( Read more ) http://www.ukibc.com/news_and_media/news/cabinet_fibreoptic_271011.aspxThu, 27 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/cabinet_fibreoptic_271011.aspx Logistics major DHL announced on Tuesday the launch of Boeing 777F-200 freighter service between Bangalore and Leipzig, which is the company's European hub. The new service, originating in Bangkok and Singapore, is to operate five days a week. The new freighter will be operated by AeroLogic, a joint venture cargo airline of DHL Express and Lufthansa Cargo. Malcolm Monteiro, Senior Vice-President and Area Director, South Asia, DHL Express, said the direct connectivity would result in improved transit times. He said DHL Express was committed to investing in infrastructure in India and double the "dedicated air network capacity of DHL" in the country. "South India is an important region in the country's economy and the launch of the freighter at Bangalore is a key step towards facilitating growth in this region," he said. R. S. Subramanian, Country Head, DHL Express India, said the freighter, with a capacity of 100 tonnes, would serve key markets in Europe and India, especially textiles, automotive and leather industries. The service would also result in better connectivity between markets in South India and key Asian markets, he added. http://www.ukibc.com/news_and_media/news/dhllaunches.aspxWed, 12 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/dhllaunches.aspx New Delhi: The government on Tuesday proposed a set of guidelines to ensure transparency in award and implementation of public-private partnership (PPP) projects. The idea is to increase investments in infrastructure to $1 trillion in the 12th Plan, starting April 1, 2012, mainly through involvement of the private sector. According to the draft guidelines relased for public scrutiny by the finance ministry, the government would set up a dedicated dispute resolution mechanism to address issues related to the bidding and award of PPP projects. It is also proposed that a mechanism of independent pre-bid rating of projects would be instituted to assist investors in identifying well-structured work contracts. "PPP projects processes need to be transparent to retain the trust of the stakeholders," the government stated in draft national PPP policy 2011, issued on Tuesday. This is first of its kind effort of the government to spell out overarching principles that would be guide all... PPP projects in the country. These principles are to be followed by all central and state agencies. The emphasis on transparency comes at a time when the government foresees 50% of total infrastructure investment in 12th plan to come from private sector. PPP would be used as a tool to develop facilities specially in roads, ports and railways through this investment. In the policy, the government has proposed ascertaining market price of natural resources where PPP projects give an implicit ownership rights to the developer. Alternatively if resources are provided for a specific use, such as use of land for a transport project, alternative exploitation of land will be prohibited. "This would be a non-negotiable position," the draft said. The government also said that it would recognise only four PPP models - BoT (toll), BoT (annuity), performance based maintenance contracts and modified design-build contracts or turnkey projects. http://www.ukibc.com/news_and_media/news/draftnormsfortransparencyin.aspxWed, 28 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/draftnormsfortransparencyin.aspx KOZHIKODE: Kerala has been placed at the 12th place in e-commerce transactions by eBay India annual census conducted among the 28 States in the country. The census covered the key trends in online buying, selling, importing and exporting, spread across top 20 e-commerce hubs and seven union territories, apart from the transactions at the State level.The top five States are Maharashtra, Delhi, Tamil Nadu, Karnataka and Andhra Pradesh... ( Read more ) http://www.ukibc.com/news_and_media/news/ebay_dehli_261011.aspxWed, 26 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/ebay_dehli_261011.aspx KOLKATA/BANGALORE: What slowdown? Big retailers are reporting more than 20% year-on-year jump in same-store sales since May as consumers buy grocery and other daily use items in bulk packs to secure the best deals on offer. Retailers such as Future Group and Spencer's Retail say the contribution of bulk packs, which come 5-20% cheaper than smaller packs, to total sales more than doubled year-on-year during May to mid-September as buyers look for ways to deal with pricey food and fuel. "Consumers are buying in bulk each time to save on frequent travel to stores and for better discounts," says Sanjay Gupta, executive director (marketing and business development) at Spencer's Retail, which operates 220 stores across different formats in 45 cities. http://www.ukibc.com/news_and_media/news/futuregroupspencers.aspxWed, 28 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/futuregroupspencers.aspx NEW DELHI: The government today approved a proposal to increase the country's contribution to IMF, which would make it the 8th largest shareholder in the Washington-based multilateral agency. The Cabinet's approval to increase India's quota in the International Monetary Fund (IMF) follows Fourteenth General Review of Quotas of the agency... ( Read more ) http://www.ukibc.com/news_and_media/news/govt_imfquota_251011.aspxTue, 25 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/govt_imfquota_251011.aspx Local fund managers in India are brushing off bad news and expecting to profit from the exit by many foreigners from the country's stock markets, according to a report in Monday's FTfm. Investors anxious to minimise risk have been selling Indian stocks, explains Ajit Dayal, chairman of Quantum Asset Management. "Therefore the markets are exposed to near-term downside risk [but] for long-term value investors, this sell-off is a buying opportunity."( Read more ) http://www.ukibc.com/news_and_media/news/halfempty_halffull_241011.aspxMon, 24 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/halfempty_halffull_241011.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/news/hrd_unveils_low-cost_computer_for_students.aspxFri, 23 Jul 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/hrd_unveils_low-cost_computer_for_students.aspx BANGALORE: Former President of India, Mr A.P.J. Abdul Kalam, has said that in the current decade, the IT industry has to face challenge of convergence, which will lead to national economic development. The industry should become a knowledge systems powerhouse instead of just a software powerhouse, he said at the inauguration of Bangalore IT.biz here today…( Read more ) http://www.ukibc.com/news_and_media/news/indiait_sectorpowerhouse_181011.aspxTue, 18 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/indiait_sectorpowerhouse_181011.aspx India and UK have agreed to work towards a Memorandum of Understanding (MoU) that will enhance capacity building, land economics, heritage management, sustainable master planning and transport planning. Sharing of knowledge in the formulation of public private partnership models would form another area of cooperation. Minister of Urban Development Kamal Nath and Minister of State for Decentralisation and Cities (UK) Gregory Clark agreed to work towards an MoU during a meeting in London on Friday. Nath was in London to participate in the UK-India Business Forum, organised by the UKIBC, UK Trade and Investment, and Indian Chamber of Commerce… ( Read more ) http://www.ukibc.com/news_and_media/news/indiauk_mou_181011.aspxTue, 18 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/indiauk_mou_181011.aspx MUMBAI: India is exploring opportunities to improve connectivity with Africa and plans to pump in $5 billion, according to aviation Ministry officials… There is a sea change from 500 departures a week in the country in 1994 before deregulation, to nearly 15,000 departures daily - a 30 times jump. Today 87 foreign airlines fly to and from India and five Indian carriers fly to and from 40 countries. In the last decade, domestic air traffic has quadrupled from 13 million to 52 million and international traffic more than tripled to 38 million. A similar trend is observed in the cargo sector, she added… ( Read more ) http://www.ukibc.com/news_and_media/news/india_aviationgrowth_191011.aspxWed, 19 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/india_aviationgrowth_191011.aspx Now is the season of lights in India where households buy gold and exchange gifts. India's biggest Hindu festival is also the peak of the informal gambling season. At the weekend, some friends held a Diwali party at their home in an upscale suburb of NewDelhi, the nation's capital. Once passed the luminous festive lights, the carefully flower petal-decorated stairwell and a dinner table laden with culinary delights, visitors were ushered towards the impromptu gaming parlour. Here, the eyes were immediately drawn by the golden flash of multiple Rupees 500 notes thrown into a collective pot by card players as they bid each other up... ( Read more ) http://www.ukibc.com/news_and_media/news/india_bets_251011.aspxTue, 25 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/india_bets_251011.aspx NEW DELHI: Indians who once coveted senior executive positions in companies across the US, Europe and West Asia are escaping a worsening global economic situation and returning to a relatively stable economy back home. There has been an up to 20% increase in the number of CEO movements compared with last year, as persons of Indian origin and non-resident Indians return home, according to findings by various executive search firms. Spearhead Intersearch, which placed 30 executives in senior positions globally last year, has seen a 20% increase in people returning home in just nine months this year… ( Read me ) http://www.ukibc.com/news_and_media/news/india_executiverelocation_191011.aspxWed, 19 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/india_executiverelocation_191011.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/news/india_government_foreign_law_firm_ban_bid.aspxFri, 09 Jul 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/india_government_foreign_law_firm_ban_bid.aspx NEW DELHI: Amid sluggishness in the economy, finance minister Pranab Mukherjee exuded confidence that the country will maintain a high economic growth trajectory of 8.5 to 9 per cent in the medium to long-term. "In the medium to long-term, India remains firmly on a high GDP growth path of 8.5 to 9 per cent. We, however, need to be alert and respond to emerging challenges and concern, in a timely manner as we make efforts to achieve our potential as a young and fast-growing nation," Mukherjee said while addressing the ADB-India partnership silver jubilee celebrations here…( Read more ) http://www.ukibc.com/news_and_media/news/india_growth_171011.aspxMon, 17 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/india_growth_171011.aspx After months of bad news flow - high inflation! interest rate hikes! corruption! high petrol prices! weak currency! - India is finally getting some good news, even if it's a good two years off. In 2013, according to an Ernst & Young report released Monday, India will grow at 9.5 per cent, bouncing back from this year's 7.2 per cent, and outpacing China's projected 9.2 percent... ( Read more ) http://www.ukibc.com/news_and_media/news/india_outpacinghcina_241011.aspxMon, 24 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/india_outpacinghcina_241011.aspx NEW DEHLI: Indians are remitting money abroad at a frantic pace. Data recently released by the Reserve Bank of India show doubling, tripling - and in some cases, up to 30 times increase - in spending on purchase of overseas property, stocks and gifts by Indians in the past five years. Outward remittance (investments or spending on assets and items abroad) under the Liberalised Remittance Scheme (LRS) of the RBI crossed the billion-dollar mark for the first time in fiscal 2011. Clearly, wealthy Indians are using the higher limit to acquire assets overseas where values have been sliding since the 2008 credit crisis… ( Read more ) http://www.ukibc.com/news_and_media/news/india_remitabroad_211011.aspxFri, 21 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/india_remitabroad_211011.aspx India's economic and political influence in the world is growing. It is one of the main players on the global stage today and is set to be the second largest economy by 2050, according to PwC. Importantly, much of this growth is internally generated and as such is protected from the volatility of the international market. Moreover, the declining age dependency ratio means that a young growing middle/consumer class will further underpin this positive trend. Against such a background, the UK India Business Council (UKIBC) urges companies, especially SMEs, to examine how India can play a part in their strategies now and into the future... ( Read more ) http://www.ukibc.com/news_and_media/news/india_route_201011.aspxThu, 20 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/india_route_201011.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/news/infra_fin.aspxWed, 18 Aug 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/infra_fin.aspx New Delhi: Innovation and adoption of appropriate technologies should be focus areas for the micro, small and medium enterprises (MSME) sector in India. The sector, which is one of the largest generators of employment in the country, also needs to strengthen global alliances, said Mr Virbhadra Singh, Minister of Micro, Small and Medium Enterprises. He was addressing the two-day 'India Global Summit on MSMEs 2011' organised by the Confederation of Indian Industry (CII)… ( Read more ) http://www.ukibc.com/news_and_media/news/innovation_msme_201011.aspxThu, 20 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/innovation_msme_201011.aspx NEW DELHI: India aims to achieve a turnover of $400 billion from domestic electronics manufacturing by 2020. The government will take a series of initiatives to attract $100-billion investment in this sector, communication minister Kapil Sibal said on Monday. Unveiling the draft electronics manufacturing policy, Sibal pointed out that domestic manufacturing in the current scenario could cater to only $100 billion worth of products by 2020 against a $400 million and the rest of the requirements would therefore have to be met by imports. "This aggregates to a demand supply gap of nearly $300 billion by 2020. Unless the situation is corrected, it is likely that by 2020 the electronics import may far exceed oil imports," Sibal said. http://www.ukibc.com/news_and_media/news/kapilsibalaims.aspxTue, 04 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/kapilsibalaims.aspx The rupee has crossed the psychological barrier of Rs 50 against the US dollar recently, raising concern among corporates regarding their foreign currency borrowing plans. But the prevailing low interest rates globally, and the reasonably developed market for long-term foreign currency exchanges make a compelling case for foreign currency borrowings, which are significantly cheaper than rupee borrowings. A historical perspective on foreign exchange rates reveals interesting facts. While the pace of recent depreciation may have come as a surprise to many, the exchange rate is still within the levels recorded in the past. Ten years ago, the exchange rate was Rs 48.03 against the dollar, yielding an average annual depreciation of 0.4 per cent. Given this history, and the current state of global and Indian economy, it can be reasonably assumed that, during the next ten years, the chances of rupee strengthening are higher than significant depreciation from current levels... ( Read more ) http://www.ukibc.com/news_and_media/news/loans_smes_251011.aspxTue, 25 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/loans_smes_251011.aspx Normal 0 0 1 61 351 2 1 431 11.1287 0 0 0 After building the world's cheapest car, India may be set for another milestone - the world's cheapest SUV. Just don't call it "the world's cheapest SUV". Mahindra & Mahindra, the company behind the wildly successful Scorpio SUV and the recently launched XUV 500 - which is already running up a waiting list - is developing a mini-SUV that will sell in the $6,000-$8,000 range, according to the Economic Times... ( Read more ) http://www.ukibc.com/news_and_media/news/mahindra_suv_271011.aspxThu, 27 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/mahindra_suv_271011.aspx Nagaland Chief Minister Neiphiu Rio today left for the UK to deliver a lecture at the Queens University. Accompanied by State Power Minister Doshehe Y Sema and Agriculture Minister Chumben Murry, the Chief Minister would also visit some veterinary and animal husbandry facilities and food processing and bio-science centres during his stay in the United Kingdom, a release said today…( Read more ) http://www.ukibc.com/news_and_media/news/nagaland_lecture_191011.aspxWed, 19 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/nagaland_lecture_191011.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/news/nasscom.aspxThu, 24 Jun 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/nasscom.aspx ALLAHABAD: Although the remote village of Rajapur Chaubara in Holagarh Block of Allahabad district is just another village far from the hi-tech urbanized pocket, yet it would soon be special in more then one way as it would be among the first village wherein the state of art Solar power plant would be set up by the Uttar Pradesh New and Renewable Energy Development Energy (UPNEDA). This power plant, to be set-up at a cost of Rs 5 lakh, will have a capacity of 1.2 kilowatt and will generate 1200 watts of electricity every day meeting the demand of around 200 houses of the village. http://www.ukibc.com/news_and_media/news/nedatolightup.aspxTue, 11 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/nedatolightup.aspx New Delhi, Oct. 10: The Foreign Investment Promotion Board will now start scrutinising takeovers by foreign players in the pharmaceutical sector - for the next six months. Thereafter, the Competition Commission of India (CCI) will take over the role of watchdog. The Government has found this solution to resolve the inter-ministerial differences in framing M&A rules in the "sensitive" pharma sector. A statement issued after a meeting chaired by the Prime Minister, Dr Manmohan Singh, said that FDI will be allowed through the FIPB route for the next six months in the case of brownfield investments. During this period, the necessary enabling regulations will be put in place by the CCI for effective oversight on mergers and acquisitions to ensure that there is a balance between public health concerns and attracting FDI, the statement added. It said that that there will be status quo on FDI without any limits (100 per cent) under the automatic route for greenfield investments in the pharma sector. This will facilitate addition of manufacturing capacities, technology acquisition and development. This issue came up for discussion after a spurt of M&A activity in the sector. Recent buys In the recent past there have been six major foreign takeovers of large Indian pharma companies, including Daiichi Sankyo's majority stake buyout of Ranbaxy. Out of the $8.99 billion received as FDI in the sector between April 2000 and June 2011, about 50 per cent amounting to nearly $4.73 billion were through the M&A route. Govt panel With the Health Ministry demanding stricter norms, fearing an increase in drug prices, a Government committee chaired by Mr Arun Maira, Member, Planning Commission, was constituted to look into the issue. Speaking to Business Line, Mr Maira said, "We were all in complete agreement that the pharma sector is a sensitive one and we need to be more careful. Therefore, the recommendation was that there must be a screening. This was accepted." Shishir.s@thehindu.co.in (This article was published in the Business Line print edition dated October 11, 2011) http://www.ukibc.com/news_and_media/news/pharmasector.aspxMon, 10 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/pharmasector.aspx NEW DELHI: After restructuring almost every scheme in its kitty, the rejuvenated ministry of rural development plans to lend a hand to its urban counterpart in towns and cities that have recently shed their overgrown village tag. The ministry plans to reform one of its ambitious yet unostentatious programmes - Provision of Urban amenities in Rural Areas (PURA) - to facilitate creation of urban infrastructure in around 2,000 new towns that have been identified by the 2011 decadal Census. Most of these towns are considered grey areas of administration, often termed as "rurban" areas, and do not officially fall under the purview of urban development ministry while ceasing to be a core focus of rural programmes. "This would be the second generation of projects under PURA. I will like to make PURA cater to these new census towns in the 12th plan," Minister for Rural Development Jairam Ramesh told ET. "Urban development provides infra in urban areas and rural development in rural areas. PURA should do the same for these r-urban areas," Ramesh added. A working group set up by the Planning Commission for the 12th Plan is firming up the proposal to be implemented in the next plan that will significantly enhance rural development ministry's clout. "Using and existing scheme to streamline urbanization process is an optimal way considering that we have limited monetary and human resources," said a Planning Commission official. The 2011 Census recorded an increase of 54 % in urban settlements to 7935 from 5161 in the 2001 Census. The Census considers any settlement to be urban if the area has a municipality or a corporation, or it has a population of 5,000 or above with a density of at least 400 persons per square kilometer. However, the Census classification does not have any bearing on the administrative set up of the areas or development parameters. "A census classification automatically does not bring them under or outside the purview of any ministry or scheme," said an official in the office of the Registrar General of India. Therefore, a village that witnesses an increase in population gets classified as a new town in the Census even as it does not have any urban infrastructure like electricity, sanitation facilities, water supply among others. "Considering the uncertain and transitional status of these areas within the administration, the needs of these areas are often neglected," added the Planning Commission official. This is the gap which PURA, which in its current form is restricted to rural areas, is expected to fill. The scheme currently implements projects in public private partnership mode with an active involvement of the village panchayat. The private company bids for a project with an anchor economic activity like distribution of electricity, water supply among others and facilitates other allied economic activity. PURA, envisioned by former president APJ Abdul Kalam, currently has eight projects in five states. http://www.ukibc.com/news_and_media/news/provisionofurbanamenities.aspxTue, 11 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/provisionofurbanamenities.aspx Can 2.7 square feet of extra space make a world of difference? I was in one of the over-priced real-estate capitals of the world - Mumbai, but even by that standard 2.7 square feet seemed like a measly number incapable of making a measurable difference. But in the world of super luxury automobiles, even that much can mean a lot. I was sitting inside the new Rolls-Royce Ghost Extended Wheelbase (EWB) and trying to experience the difference like the RR's owner would. Compared to the standard Ghost, what you will get in the EWB is 17 centimeters of extra length both in terms of the wheelbase and in terms of the rear legroom… ( Read more ) http://www.ukibc.com/news_and_media/news/rrghost_extrev_201011.aspxThu, 20 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/rrghost_extrev_201011.aspx Mumbai: Overseas direct investment by Indian companies or entities in September 2011 was 51 percent higher at $3.46 billion against $2.28 billion in the preceding month, according to the Reserve Bank of India's data on outward FDI. In the first six months of the current financial year, outward investment by India companies or entities was at $19 billion. In 2010-11, outward investment by India companies or entities was at $44 billion… ( Read more ) http://www.ukibc.com/news_and_media/news/sept_fdirise_201011.aspxThu, 20 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/sept_fdirise_201011.aspx read more Hyderabad: Fertiliser maker Coromandel International, part of the Rs 13,000-crore Murugappa Group, on Monday signed a licence agreement with Shell Research Ltd for its Shell Thiogro technology to produce ammonium phosphate based-fertilisers containing sulphur. This technology will be employed at Coromandel's Visakhapatnam plant, which may be extended to its Kakinada plants later. Shell Research Ltd is an affiliate of Royal Dutch Shell plc, London. The Shell Thiogro technology is developed by Shell Sulphur Solutions, a global business unit of the Royal Dutch Shell group of companies. The licensing of this technology is part of the efforts of the Indian company to develop new crop nutrient solutions. "The agreement with Shell is another step which Coromandel has taken to provide holistic crop nutrient solutions to Indian farmers. Sulphur Enhanced fertilisers have a multitude of advantages in the form of balanced nutrition, ease of application, cost effectiveness, uniform distribution and enhanced nutrient efficiencies," Mr. V. Ravichandran, Managing Director of Coromandel International, said. Sulphur enhanced fertilisers will contribute significantly towards addressing the sulphur deficiency in the soils and improve the agricultural yields in these regions, according to the company. Coromandel, which markets about 2.9 million tonnes of phosphatic fertilisers, also produces over 35 types of insecticides, fungicides and herbicides. http://www.ukibc.com/news_and_media/news/shellindia.aspxTue, 14 Sep 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/shellindia.aspx Shree Shubham Logistics which is engaged in developing commodity warehousing parks today said that it would expand its business in Maharashtra, MP, Gujarat and Rajasthan, involving an investment of Rs 200 crore over the next three years. The move will create additional storage capacity of around 3.30 lakh tonne and the total floor plate area will touch around 2 million square feet, increasing its presence to 64 locations across these states, the company said in a release. Currently, it has 3.6 million sq ft area in Rajasthan and Gujarat and will be developing additional two million sq ft in the second phase in MP and Maharashtra, taking its capacity to around 5.60 million sq ft. Shree Shubham, a group company of Kalpataru Power Transmission was set up in January 2007 to provide end-to-end logistics solutions to commodity stakeholders in the agricultural and non-agricultural segments. The company is currently developing agri-logistics parks at Latur, Akola, Jalgaon, Nagpur and Sangli in Maharashtra; Pratapgarh in Rajasthan; and Ujjain, Dewas, Neemuch, Itarsi, Sagar, Ganjbasoda, Vidhisha, and Harda in MP. In the second phase, the company plans to enter Bihar, Andhra, Delhi, Punjab, Haryana and UP to create an additional capacity of around 4 lakh tonne, the press note said. http://www.ukibc.com/news_and_media/news/shreeshubham.aspxTue, 11 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/shreeshubham.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/news/summer_offer.aspxSun, 23 May 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/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/news/sustainable_opportunities_london.aspxFri, 09 Jul 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/sustainable_opportunities_london.aspx MUMBAI: Tata Steel is investing £4.5 million more this year at its South Yorkshire operations in the UK, over the £20 million investment that it has already put in last year. In all, this could lead to savings of £850,000 a year for the company since the funds would help "improve plant reliability and energy efficiency, reduce CO2 emissions and boost production of high-value steel products". "The amount of energy saved - 19,000 mega watt hours (MWh) - would power 4,000 homes," a company statement said… ( Read more ) http://www.ukibc.com/news_and_media/news/tata_invest_211011.aspxFri, 21 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/tata_invest_211011.aspx COIMBATORE: Tide Water Oil (India) Ltd has acquired 100 per cent shares of Veedol International Ltd (VIL), registered in the UK and a wholly owned subsidiary of BP Plc, on October 19. The company's shares were trading up 3.81 per cent at Rs 6,818.05 on the BSE at 1.02 p.m. ( Link to story ) http://www.ukibc.com/news_and_media/news/tidewater_buysukcompany_241011.aspxMon, 24 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/tidewater_buysukcompany_241011.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/news/visit_aims_to_boost_economic_relationship_with_ind.aspxWed, 28 Jul 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/visit_aims_to_boost_economic_relationship_with_ind.aspx BANGALORE: Wipro Technologies has identified education and health care as the next big business opportunities as it prepares to launch a host of low-cost products such as an electro-cardiogram necklace, tablet computer and cameras for use in hospitals and in mining and retail. India's third-largest IT services company is one of the largest outsourced R&D services providers and is leveraging these capabilities in bringing out these products. An ECG necklace is a device worn by the patient around the neck. It transmits heartbeats to a remote-monitoring location. Wipro, which got on board a new chief technology officer earlier this year, will develop and test these products over the next 12-24 months for manufacturers who will market them on their own or in partnership with the IT firm. http://www.ukibc.com/news_and_media/news/wipro.aspxTue, 11 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/wipro.aspx Perfint Healthcare Corporation, the Chennai-based robotic targeting systems for cancer care, will raise Rs 75-100 crore from private equity (PE) funds in the next 18 months in rounds. Read more here http://www.ukibc.com/news_and_media/news/120207_pe.aspxWed, 01 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120207_pe.aspxWe hope to see a growth oriented budget with positive decisions on at least some of the long pending reforms related to retail, insurance and defence. Indian GDP dipped to 6.1 per cent in last quarter of 2011. Given that it is the first Budget for the 12th Plan, and has to meet high growth aspirations of per cent, we believe it's time for a pro-market budget which will boost growth, tame inflation and make it easier for companies to conduct business. Our members would like to see policies that bring in reforms, encourage investment, and makes taxation more transparent. http://www.ukibc.com/news_and_media/news/120314_budget.aspxThu, 15 Mar 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120314_budget.aspx Indian Rotorcraft is pleased to announce that a ground breaking ceremony was held today at Hyderabad's Rajiv Gandhi International Airport, marking the start of construction of a new helicopter production facility and a new step in the development of the Indian aerospace industry. Read more here http://www.ukibc.com/news_and_media/news/120314_rotor.aspxWed, 14 Mar 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120314_rotor.aspx View full Summit Communique here http://www.ukibc.com/news_and_media/news/120401_summit.aspxThu, 15 Mar 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120401_summit.aspx A new initiative to boost the investment links between the Indian firms and British small and medium enterprises (SMEs) focussing on technology has been unveiled here yesterday. British High Commissioner James Bevan, Rajiv Kumar, Secretary General of Federation of Indian Chambers of Commerce and Industry (FICCI) and UK-India Business Council (UKIBC) Chief Executive Richard Heald inked the pact. Read more http://www.ukibc.com/news_and_media/news/120403_mou.aspxTue, 03 Apr 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120403_mou.aspx Volvo Auto India Pvt Ltd, a part of Swedish luxury car maker Volvo, is planning to explore the Indian market with a target to grab 15 per cent of the Indian luxury car market by 2020. The company is planning to expand its presence in India and would launch new models to achieve the target, said Tomas Ernberg, managing director, Volvo Auto India Pvt Ltd. The company, which sold around 320 cars last year, is expecting to sell over 1,000 cars this year in India. Continue Reading here Subscribe to our Newsletter here for regular updates http://www.ukibc.com/news_and_media/news/120421_volvo.aspxWed, 25 Apr 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120421_volvo.aspxChennai: Apollo Hospitals Group has signed a memorandum of understanding (MoU) with the BMJ group, a medical publishing company and media arm of British Medical Association. Read More http://www.ukibc.com/news_and_media/news/apollobmj.aspxMon, 18 Oct 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/apollobmj.aspxNew Delhi: Private sector lender Axis Bank said on Tuesday it has received Reserve Bank of India's nod to set up a subsidiary in the UK. It has also got the central bank's permission to upgrade its presence in Shanghai from a representative office to a branch read more http://www.ukibc.com/news_and_media/news/axisbankuk.aspxThu, 14 Oct 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/axisbankuk.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/news/benoyaug.aspxTue, 10 Aug 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/benoyaug.aspxThe Indian National Congress High Command on Tuesday moved in to cut any further loss of face by removing Ashok Chavan as Maharashtra Chief Minister and Suresh Kalmadi as secretary of the Congress Parliamentary Party in the wake of embarrassing scams allegedly involving them. Read more http://www.ukibc.com/news_and_media/news/congressmah.aspxTue, 09 Nov 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/congressmah.aspx By David Rothkopf Monday, September 13, 2010 - 12:40 PM We are not in Kansas anymore. More importantly, Kansas is not even where it once was. Once upon a time and in the minds of most living Americans, Kansas was more than just a synonym or a metaphor for America's heartland, it was the actual geographic mid-point of the United States. You could debate whether the exact location deserving of this honor was closer to Lebanon or Grenola, but at the end of the day, all would agree that by virtue of the power and position of the United States, somewhere out there in the middle of nowhere was the center of the world. No more. America may be the richest and most powerful nation on earth. But the world's economic center of gravity is shifting away from Kansas much more rapidly than anyone had any reason to expect it would even a decade or so ago. (I know this for a fact -- as a senior economic official in the Clinton Administration who helped put together and run the first U.S. inter-agency effort focused on the world's largest emerging markets, I remember how officials would smile patronizingly and roll their eyes, "Yes, China, India, Brazil, yes... important, but not in our lifetimes.") Now, the evidence is piling up that not only has the economic center of gravity shifted much more rapidly than anybody had expected, but that with it is shifting the political center of gravity -- and I would argue, even more importantly, so too is shifting the world's intellectual center of gravity. Earlier this month, the United Nations Conference on Trade and Development published a survey in which business leaders were asked where they would be most likely to direct investment flows over the next several years. It is the kind of study that in the recent past would always have seen America on top. This time we finished fourth, behind China, India and Brazil. Yesterday, in a very well done piece called "The China Cycle," Geoff Dyer in the Financial Times noted that not only did China overtake the U.S. as Brazil's largest trading partner last year but that this year it is likely to emerge as the largest direct investor in Brazil. Why is this relevant to Kansas? Well, on the one hand it illustrates how other nations have overtaken the U.S. in influence -- even in our own hemisphere, and even in a country that would once have fallen within our "sphere of influence" (although the United States has always been much less influential in Brazil than it either thought it was or wished itself to be). And of course, part of the China boom in Brazil is tied to China's need for raw materials to fuel its growth. That includes Brazilian wheat and soy and other foodstuffs, where Chinese demand has helped make Brazil the world leader (and has also played a huge role in influencing the prices paid to U.S. farmers). Every day you read of new deals in Brazil's energy or steel or agricultural sectors in which Chinese companies are taking positions. Each ties the two countries closer together. Some in Brazil's old guard might criticize this as part of what they critically characterize as the "Third World" orientation of the Luiz Inácio Lula da Silva administration's foreign policies. This is simply old-think, of course. The connection between the two countries has much less to do with the Third World of the 20th century than it does with the emerging first-tier powers of the 21st. At the beginning of Dyer's piece, he writes, Deep in the Amazon jungle, huge chunks of red earth are torn out of the ground at Carajas, the biggest iron ore mine in the world, to be transported halfway round the globe to the steel mills on China's eastern seaboard. There they are turned into the backbone for millions of tower blocks in hundreds of booming Chinese cities. The boom in China's cities is the subject of much discussion these days. The FP Global Cities issue is just one example, and a particularly good one. China will grow from less than 70 cities of a million people today to over 220 such cities by 2030. It will grow from six cities of over 10 million to 13 such megacities in the same period. To meet this goal, it will have to build the equivalent of two Chicagos a year of commercial space. This growth will ensure that over those two decades Chinese cities are the places building the most power plants, highways, subways, high speed railways, green buildings, tall buildings, and factories. They will see the greatest inflows of people and the greatest swings in wealth creation. What this means in turn is that demand in those cities will disproportionately drive global demand. That doesn't just mean that the Chinese will play a big role in setting the price for Kansas wheat or Kansas-built aircraft, though they will. It also means, importantly, that the decision-makers in those cities -- often people we don't know in places we've never heard of -- will be the ones deciding what the buildings and trains and cars and power plants will look like. They'll do this because they're the ones writing the specifications for the deals and because they're the ones writing the checks. If China spends more, as expected, over the next twenty years on high speed rail than the U.S., Britain, and Spain combined, then who do you think will determine what the fast trains of the 21st century look like? Furthermore, because these cities of tomorrow will be the demand drivers of the world, they will enable Chinese companies that will have all sorts of advantages in competing for deals within them to quickly grow to be companies with the scale and capabilities to be global competitors. Some of the advantages they have will be fair. Some won't. In the years ahead, how the global system copes with sorting the two out will go a long way towards determining just how level the international playing field is. In the eyes of several very experienced trade specialists with whom I have recently spoken, it may well lead to a weakened, case-glutted WTO blowing a gasket or two and the international trading system facing its biggest challenges in modern history. This in turn leads to the ways the growth of these cities and China and cities and emerging economies worldwide will lead to a shift in the world's intellectual center of gravity. These are the places in which, in the first instance, much of the world's innovation will be taking place, where new universities will be built, where new ideas will naturally emerge. But also, economic clout brings political clout which in turn shapes global discussions about the big issues of the time. It is by no means certain that the future of the world trading system, to pick one narrow example, will be shaped in accordance with the orthodoxies of the past six or seven decades when some new big players -- like China or Brazil or India -- have very different ideas about the appropriate relationships between states and markets. We need to be careful not to define such views in old, Cold War terms. It is not about left versus right. It's not about statism versus markets. It's about new hybrids, new systems that may be necessary to help new fast growing economies maintain stability and upward trajectories, and how they can best be integrated into a global system in which they play an ever greater role. It's about a new power structure and new relationships that will tip the balance in favor of ideas that often do not emanate from anywhere near Kansas. In fact, they may emanate from places to which Kansas seems as remote or exotic as Chengdu or Baoding does to the good people of Grenola http://rothkopf.foreignpolicy.com/posts/2010/09/13/what_if_the_center_of_the_world_is_a_place_youve_never_heard_of http://www.ukibc.com/news_and_media/news/foreignpolicy.aspxTue, 14 Sep 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/foreignpolicy.aspx After four-month search, David Cameron selects senior banker to promote UK industry abroad. David Cameron's four-month search for a trade minister to promote UK industry abroad ended today when he confirmed that Stephen Green, the chairman of HSBC, will take up the post. The appointment of Green, who will become a peer in order for him to join the government, marks the end of a tricky recruitment process dating back to the May election. It will come as a relief to Cameron who was under pressure to find a business leader with suitable international clout to fill the last post in his government. Green will be non-controversial in the coalition, backed by senior Tories and Lib Dems. He has spoken publicly about the need for the banking sector to operate on a more ethical basis and take corporate responsibility more seriously. He is also admired on the opposition benches, with Gordon Brown said to be a fan. More http://www.ukibc.com/news_and_media/news/green.aspxTue, 07 Sep 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/green.aspxAHMEDABAD: Charanaka, a village nestled in a remote corner of Patan district in north Gujarat is destined to become the state's hub of solar power generation. Solar panels will be laid on close to 3,000 acres of land in this village , where the state government is going to set up a ' Gujarat Solar Park . at an investment of Rs 8,000 crore. Read more http://www.ukibc.com/news_and_media/news/gujsolarpark.aspxMon, 06 Dec 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/gujsolarpark.aspxIn 1998, Scott Mead of Goldman Sachs made a presentation to Vodafone titled 'Hunt or be Hunted'. Vodafone chose to hunt. It bought companies or inked partnerships around the world, grew from 5 million subscribers to 347 subscribers, and ended up transforming itself from a UK player to a global telecom giant. Today, the 14 telecom operators in India face a similar choice. The Indian market isn't big enough to accommodate them all profitably, say company officials, investment bankers and analysts. The global norm, they point out, is three to four operators. Read More http://www.ukibc.com/news_and_media/news/hunterandhunted.aspxMon, 18 Oct 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/hunterandhunted.aspxHyderabad: IMIMobile, a provider of mobile technology has acquired UK-based mobile content and services company WIN in an all cash deal worth $26 million. The acquisition will allow IMIMobile to get access to major European Mobile operators, as WIN already has both technical and customer relationships with Tier 1 European operators Read more http://www.ukibc.com/news_and_media/news/imimobile.aspxFri, 22 Oct 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/imimobile.aspx Why did China, India and Brazil all emerge so much more rapidly from the global financial crisis than advanced economies did? In a presentation in Denver to the National Association for Business Economics, Nobel Prize-winning economist Michael Spence, now of New York University, offered several reasons. Read more http://www.ukibc.com/news_and_media/news/indiagrowth.aspxTue, 12 Oct 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/indiagrowth.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/news/india_pm.aspxTue, 17 Aug 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/india_pm.aspx Lloyds Banking Group sponsored the business and philanthropy categories at the first "Asian Awards" which took place at the Grosvenor House Hotel, London on October 26th. The event honoured inspirational figures in the Asian community for their contribution to the UK and worldwide. Kamel Hothi, Asian Markets Director said 'We were delighted to celebrate the success of the community and to mark the contribution of Asian businesses. ' Ratan Tata, the chairman of Tata Group won Businessman of the Year Award. He has been the Chairman of Tata Sons since 1991 and is known for his leadership as well as his commitment to the communities Tata serves. The Tata Group, a client of Lloyds Banking Group, employs 30,000 people in the UK through its subsidiaries Corus, Tetley and Jaguar. Kamel Hothi added "Our sponsorship allowed us to help clients make connections and explore new opportunities. This complements very well the support we provide to small and medium enterprises through increasing our lending and backing Government initiatives such as the Business Finance Taskforce." Philanthropist of the Year was won by Sunil Mittal, Chairman and Group CEO of Bharti Enterprises, one of India's leading business groups. It has interests in telecom, agri-business, financial services, and retail. The Bharti Foundation won the award for their tireless commitment to philanthropic causes such as the setting up village schools to provide free quality education to nearly 30,000 underprivileged children. Others honoured at the Asian Awards were from the worlds of the arts, cinema, music and sports. Vijay Mallya, Kingfisher owner, cricketing legend Sachin Tendulkar and double Oscar winner AR Rahman were amongst the winners. The event was opened by Nick Clegg, Deputy Prime Minister. Photo Caption: Anwar Hasan, MD of Tata Ltd, Lord Coe, Chairman of LOCOG and Diana Brightmore-Armour, Managing Director, Corporate Banking, Lloyds Banking Group The Asian Awards as well as a portfolio of Islamic products are just some ways in which Lloyds Banking Group is committed to the Asian community. More recently they have set up a specialist Wealth team to provide advice to Non-Resident Asians. For more information about the Lloyds Banking Group contact Kamel Hothi, Asian Markets Director at kamel.hothi@lloydstsb.co.uk . http://www.ukibc.com/news_and_media/news/lloyds2.aspxThu, 04 Nov 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/lloyds2.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/news/mukesh.aspxTue, 17 Aug 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/mukesh.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/news/nselse.aspxSat, 10 Jul 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/nselse.aspxHaving released issue 7 of the UKIBC magazine 'Partnership in Action', the full isssue is now available electronically by following this link .http://www.ukibc.com/news_and_media/news/piaissueseven.aspxThu, 11 Nov 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/piaissueseven.aspxFollowing up from the Webinar presented by our members PwC on the UK Bribery Act last month, for the latest information you can also visit www.pwc.co.uk/briberyact http://www.ukibc.com/news_and_media/news/pwcbriberyact.aspxWed, 10 Nov 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/pwcbriberyact.aspx India's agri-based sector employs 58.2 per cent of its population. So farmers and food supply chains are an integral part of the growth story. However, it only accounts for 14.6 per cent of the country's GDP (2009-10). Speaking at an event yesterday, the Indian President called for a fresh approach to agriculture to "enhance its productivity and profitability." Meanwhile, in London, agribusinesses and experts participated in an event hosted by the UK India Business Council (UKIBC) and the International Agri-Technology Centre (IATC) at Holman Fenwick Willan LLP to explore opportunities that the Indian food supply chain offers. Speaking at the event, Richard Heald, CEO (designate), UKIBC said, "Following Prime Minister David Cameron's visit to India, six priority sectors were identified and FMCG supply chain logistics is one of them. The UK's expertise in logistics and training could help Indian agri business achieve more productivity. The sector is witnessing some positive changes. FDI limits are being looked into and the process of implementing third party supply chains is being made easier. India would welcome external funds and support to build viable logistics and networks." The sector faces several challenges: farms are often small in size and supply chains are very long. Farmers are often unable to get loans or raise finance, advanced technology is in short supply and infrastructure is a challenge. UK companies can help India meet these challenges. UK supply chain logistics companies have expertise and technical capability to tackle existing inefficiencies and cater to the increasing demand for a sophisticated Indian food supply chain. The Indian agribusiness market is very different from that of the UK, pointed out, Jeff Rees, Director, Logistics Business. "Most of the produce is consumed domestically. People are used to having only seasonal produce due to lack of cold storage facilities. People working in the supply chain want to see the produce, touch it, feel it, smell it and hence, packaging is done only at the wholesale level and not before. This multiple handling of food produce contributes significantly to food waste." Gaps exist across all areas spanning infrastructure, storage, warehousing distribution, skills and training. Experts estimate more than 30% of all fresh produce is lost or spoiled before it reaches the market. On average, goods pass through six middlemen before a consumer buys it. Replacing that system requires not just building a modern, efficient network but adapting it to Indian conditions. India is a huge country with 28 states. Policy frameworks and infrastructure varies from state to state. It is important that UK companies understand the market, its strengths and challenges before making any entry decisions. "Indian companies have introduced some innovative models to address local problems," explained Tim Moruzzi, Advisor, British Agrifood Consortium. "In Punjab, farming of oranges instead of paddy and wheat has helped address the issue of water table depletion. Another Indian company has successfully introduced a "bazaar" (market) concept which works as a one stop farm supply. UK companies should think of innovative solutions like this which help them with solutions and not just sell to them." "Shared history, common language, similar legal and accountancy practices make it easy for UK companies to do business in India, however, they should look for innovative models that will fit the local environment and benefit the fragmented agri business sector in the long run. Partnerships are the best way forward. The Indian partner has good local market knowledge and the UK partner can bring their expertise and technologies," added Rees. "UK companies are also well placed to train people working in the logistics sector. Tesco is doing good work in training people in the sector in India; other UK companies could do the same. We are taking a business delegation in November 2010 to Chandigarh and New Delhi to explore business opportunities in the sector," concluded Heald. ENDS ----------------------------------------------------------------------------------------------------------------------------- Notes to Editor For more information or to see presentations by speakers, email ishara.callan@ukibc.com About UK India Business Council: 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. http://www.ukibc.com/news_and_media/news/retail.aspxThu, 23 Sep 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/retail.aspxNew Delhi: The Cabinet Committee on Infrastructure (CCI) has approved the two laning of the 178 kms National Highway (NH) stretch between Tindivanam and Krishnagiri and also a port project to develop East Quay 1 (EQ1) berth, on a design, build, finance, operate and transfer (DBFOT) basis. Read more http://www.ukibc.com/news_and_media/news/roadportprojects.aspxMon, 29 Nov 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/roadportprojects.aspx read more The world's biggest companies are planning to boost their international investments over the next two or three years, with most spending planned in major emerging economies, according to a United Nations study. China, India and Brazil are the top three target countries for foreign direct investment (FDI) until the end of 2012 with the United States, for years number one, now in fourth place, the UN trade and development agency UNCTAD said. The Geneva-based agency, which acts as a think-tank on economic trends in developing nations, said the global economic crisis from 2008 was less harmful than feared for investment. The conclusions were based on a survey of the FDI climate among 236 leading multinational corporations and 116 investment promotion agencies. Global investment flows slumped in 2008-09 as a result of the economic downturn but are expected to recover slowly in 2011 and 2012. Mergers and acquisitions Incoming FDI, mostly from richer countries like the United States and the bigger powers in the 27-nation European Union, is a key component in development plans for many poorer countries.But in recent years big firms based in the more successful emerging economies have taken a growing role, investing in both rich and poor nations, often through mergers and acquisitions. The crisis had accentuated a shift of the geographical focus of FDI towards developing and former communist economies. These countries accounted for 9 of the top 15 priority FDI destinations for global firms, UNCTAD said. China was the number one attraction for the second year, with India up from third in 2009 and Brazil up from fourth, pushing the United States down from second. Russia was fifth, the same as in 2009, but Mexico leapt to sixth place from 12th last year, leapfrogging Britain at seventh, Vietnam at eighth and Indonesia at ninth. Germany, Europe's biggest economy, fell from seventh to 10th. Thailand, Poland, Australia, France and Malaysia were the five countries next most favoured, the UNCTAD survey showed. In July, UNCTAD predicted that total FDI flows could rise to USD 1.3-USD 1.5 trillion in 2011 after USD 1.2 trillion this year, and jump to USD 1.6-USD 2 trillion in 2012. The highest total on record was USD 2.1 trillion in 2007, but this fell 16% in 2008, then a further 37% to USD 1.11 trillion in 2009 as the crisis left companies slashing spending. UNCTAD said optimism that the worst of the crisis was over had encouraged companies to revise investment programmes, with some 58% saying they would boost FDI in 2011-12. But it noted that optimism was greater among multinationals based in the developing world than among those in richer economies, especially those headquarted in Europe. http://www.ukibc.com/news_and_media/news/uncatd.aspxTue, 14 Sep 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/uncatd.aspx By Ishara Bhasi Callan Financial services and banking are the UK's key and performing sectors. Post-economic crisis, London, the financial capital of the world, celebrated City Week in September 2010 successfully to re-launch itself. In this issue Lloyds Banking Group plc Chairman Sir Win Bischoff speaks about the role of London as the financial capital of the world and how it can help India raise funds, finance its projects and achieve its ambitions of double digit growth . What makes London the centre of financial and banking services? What are its USPs? Which cities in the world give London fierce competition? London has been a place to raise finance for centuries. It didn't happen overnight. It took time. There are a few financial centres with strong international financial markets, namely New York, Hong Kong and Singapore but London is the leader because it has a larger proportion of financing raised for the international market. NY has a very deep capital market but it has a far larger domestic component of its total than London. London's international component is over 50 per cent. How important is India for business? India's growth story is getting better known. 20 years ago, it was China, and the Far East that dominated the growth story. But India's growth has accelerated, the Indian domestic market has expanded rapidly and Indian companies are venturing overseas. India is not excluded from any Board room meeting any more. Today, the talking point is where is growth faster: China or India? How can London help the Indian government and Indian companies raise finance to meet its growing needs? How can London be more attractive compared to Hong Kong or New York in raising finance for Indian companies? Indian companies find it easier to raise finance in London because of three main factors: time advantage, legal advantage and language advantage. India and the UK share common language, legal system and London is better placed time-zone wise, compared to the U.S. When Indian companies go for joint ventures with a foreign company, they prefer going by the English law and prefer the London market. What are Lloyds' future plans for India? We have seen a steep rise in the number of clients looking to do business in India. We support them and help them access the Indian financial system. They are mainly medium to large companies. SMEs with hi tech can also do it. Companies that have never exported are not ready for India. Companies need to be MMEs or have a broad employee and competence base to think of expanding overseas. (The full interview will be published in the Partnership in Action magazine, issue 07) http://www.ukibc.com/news_and_media/news/winbischoff.aspxFri, 15 Oct 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/winbischoff.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, 18 Jan 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/2010_01_18_passage_from_india.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 Feb 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/all_roads_lead_to_india.aspx  India's exports grew 21 per cent and marginally crossed the exports target at USD 303.7 billion in 2011-12 over the previous fiscal. Continue Reading here Subscribe to our Newsletter here for regular updates http://www.ukibc.com/news_and_media/news/120501_exports.aspxWed, 02 May 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120501_exports.aspx  PA Consulting Group, specialist in management and IT consulting, technology and innovation has joined the UK India Business Council as a Strategic Partner. With the eurozone in crisis, the UK Coalition Government has been highlighting the benefits for British companies to trade with high growth markets like India and China. India, a country with growth of around 7.8 per cent and projected to overtake China as the world's fastest growing economy by 2020, offers multiple opportunities to British companies. PA Consulting Group is a firm of over 2,000 people. Their work in several areas of technology is particularly innovative and relevant to India and to the UKIBC work streams on healthcare and innovation. PA, which has operations in India has established its commitment to the strengthening of UK India business ties by becoming a strategic partner with the UK India Business Council (UKIBC). Read the full release here http://www.ukibc.com/news_and_media/news/120401_pa_consulting.aspxThu, 03 May 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120401_pa_consulting.aspx Dear Reader, India is entering a very interesting period politically and one which arguably will define the coalition UPA Government's remaining tenure. The recent regional election results in West Bengal, Kerala, Tamil Nadu and Assam has had a profound impact on the political landscape. After 34 years of communist rule in West Bengal, Mamata Banerjee's victory should usher in a pro-business environment. At the same time, Prime Minister Manmohan Singh now has the opportunity to reshuffle his Cabinet in a more decisive fashion than in January of this year. Plus he also has to replace six Secretaries of key Ministries in June. Taken together, these will give an indication as to whether the Government is serious about taking difficult decisions and moving their agenda forward. I have outlined my thoughts on what implications these will have on businesses below. As you may have read, the Competition Commission of India has issued new regulations governing M&As in May. And by doing this, according to reports, India joins a club of 100 countries that have a merger regulations regime in place. While this is a welcome move and the CCI has been responsive to business concerns, we will have to wait and see how this is applied in practice. Finally, I am pleased to inform you, as we announced at the March Summit, the UKIBC is launching a new service tailor made for SMEs: UKIBC Online Sector Service. It will provide intelligence, events, reports, and create "communities" linking large and small companies around specific industry sectors. We are also creating an online hub/forum for businesses to meet, connect and do business and we are reaching out to Indian business to join this dialogue. This is a further step to make our offering more relevant in encouraging awareness and, hence, trade amongst the widest possible community. I hope you find our articles/ insights and services helpful. Of course, your feedback and suggestions are welcomed. Regards Richard Heald Back to UKIBC newsletter, May 2011 http://www.ukibc.com/news_and_media/articles/110531-maynewsletterforeword.aspxTue, 31 May 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/110531-maynewsletterforeword.aspx Press Release London: 22 June 2011 Advanced engineering and manufacturing companies across the UK are being urged to sign up to a brand new service to boost their export success to India - a country investing £68 billion on aviation and aerospace alone by 2020. The new service launches on 1 July, and is being offered by the UK India Business Council (UKIBC), the business led organization backed by UK Trade & Investment (UKTI) to boost UK India bilateral trade. This service is targeted at companies, especially SMEs looking to enter India or are new to India. For a fee of just £35 per month, sector members receive online support and a regular business sector specific quarterly intelligence report covering aerospace, automotives, defence and security, energy, heavy engineering, training, technology development and transfer, all designed to help firms understand the market, identify business opportunities and connect with potential partners Sector members will have the opportunity to meet industry experts at events, high profile business and ministerial delegations from India, interact, network and discuss potential business opportunities with others from their sector and have access to incoming businesses from India. They also get access to UKIBC B2B hub where they meet and connect with Indian and UK businesses. Business Opportunities In the next quarter, UKIBC will work closely with UKTI to host a low carbon vehicles event and plans to take a delegation comprising mainly small and medium sized businesses to India later this year to explore partnerships with Indian companies in the advanced engineering and manufacturing sectors. UK India Business Council CEO Richard Heald says, "I urge advanced engineering and manufacturing companies to focus on the huge opportunities existing in fast growing economies like India. Not only is India the tenth largest economy in the world and the fourth largest by purchasing power parity, but industrial growth is picking up, offering many UK firms the chance to export their way out of the downturn here. "The UKIBC's new sector subscription service can be a catalyst to helping our companies form partnerships with Indian business and Government. This can seem like a huge leap but businesses big and small around the world are finding fantastic opportunities in India every single day." UKIBC Corporate members are companies which are already established in India and play an active role in the UK-India business agenda. The Sector Members will be companies which are exploring the Indian market and can benefit from information and access to businesses successfully doing business there. Flying high Industrial growth in India is picking up. Over the last three months, there have been major engineering and manufacturing activities in automotives, aerospace and energy. According to a Cygnus Research Report the order book for the sector has risen 29% over the last year. In the aviation and aerospace field alone, investment opportunities of £68 billion are being envisaged up to 2020 - £48 billion towards new aircraft and £20 billion towards the development of airport infrastructure - according to the Investment Commission of India. Aviation and aerospace industry growth presents huge opportunities for UK businesses - not only the large manufacturers like Rolls Royce, BAE Systems and Augusta Westlands, but across the supply/value chain. Key areas of collaboration between the UK and Indian businesses, where UK expertise is proving invaluable, include technology development and transfer, sourcing and manufacturing of components, software and IT support, and collaborative R&D. The Indian focus on modernisation and upgrading especially in defence, also provides significant opportunities for UK businesses in this emerging market. The £700+ million Hawk advanced trainer deal in July 2010 and the recent deal with General Dynamics to provide training and support functions illustrate the opportunities that India offers. The biggest deal, however, is Indigo - the Indian budget carrier - has placed orders worth £10 billion with Airbus, whose wing work generates 140,000 UK jobs. This includes 30 classic A320s - Airbus's best-selling model, and 150 upgraded versions of the same model of aircraft, called A320neo. India is also poised to become the fastest growing market in the world for aircraft maintenance, repair and overhaul (MRO) services over the next decade, tripling its worth to £1 billion, as airline companies buy more planes to cater for the country's rapidly growing traffic. Emerging opportunities India is proving a lucrative market for many UK firms who are seeing huge growth opportunities, including JCB, which is investing £18 m in a new engine plant there. General Electric is planning to set up a multi-facility infrastructure manufacturing unit in India, employing at least 3,000 people in an investment totaling around £120 million and focusing on equipment for the energy sector, besides aviation and health areas. GE also wishes to set up a locomotive manufacturing unit in India. Despite the UK being the largest recipient of Indian inward investment into Europe, the UK's share of exports to the Indian market has fallen overall in the last five years. UKIBC believes that the new service will help UK companies export their way out of the current downturn. Few reported business opportunities: Aston Martin enters India UK-based luxury sports car maker, Aston Martin, has recently entered the Indian market with the launch of its entire range. According to news reports, Indian customers booked more than a dozen cars even before the official launch. The company hopes to sell at least 30 units in the first year and also plans to launch a small city car in India next year, which is expected to be the most expensive small car ever in the country. Aston's launch in India follows a flurry of similar launches by global premium automotive brands including Bentley and Rolls Royce, who recently added new models to their line-up. India's demand for such high-end cars has pushed their yearly sales to around 700-800 units annually with an average growth of around 30-50 per cent every year. David Brown, UK ties up with Bharat Forge, India David Brown Systems, the Huddersfield-based 150-year-old manufacturer of industrial gearboxes, has joined forces with Bharat Forge, one of India's largest auto components makers, to improve its access to the country's fast-growing market. The joint venture will supply gearboxes and maintenance services to high-growth sectors including power, mining, defence, wind power, rail and steel. The new joint venture aims to set up an assembly and testing facility in Pune with service centres in Bangalore, Kolkata, Delhi and Hyderabad. B N Kalyani, chairman and managing director of Bharat Forge, said: "We are proud to be associated with a highly respected global company like David Brown with its rich heritage and world-class technology." Notes for Editors: UK India Business Council is the premier business-led organisation promoting bilateral trade and investment between the two countries. Our mission is to facilitate an increase in trade between the UK and India through business to business dialogue. It is backed by the UK government through UKTI (the government's trade and investment arm) to ensure that the business voice is heard by governments of both countries. http://www.ukibc.com/ Media Enquiries: For further information please contact Alan Wheele + 44 20 8579 6349 & alanwheele@aol.com or Ishara Callan at the UKIBC + 44 207 592 3045 ishara.callan@ukibc.com http://www.ukibc.com/news_and_media/articles/110621-service-for-engineering-export-india.aspxWed, 22 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/110621-service-for-engineering-export-india.aspx Press Release London: 21 June 2011 Retail food and supply chain companies across the UK are being urged to sign up to a brand new service to boost their export success to India - a country where food processing alone is predicted to be a £159 billion industry by 2015. The new service launches on 1 July, is being offered by the UK India Business Council (UKIBC), the business led organization backed by UK Trade & Investment (UKTI) to boost UK India bilateral trade. This service is targeted at companies, especially SMEs looking to enter India or are new to India. For a fee of just £35 per month, sector members will receive intelligence, events, reports, and create "communities" linking large and small companies around new business opportunities in the retail, food processing and supply chain logistics sector. The service will include insightful reports packed with in-depth market research and new business opportunities in the Indian agribusiness and food processing sectors. The retail sector page will be regularly updated with fresh reports and analysis, all with the aim of helping businesses better understand the market, identify profitable business opportunities and connect with potential partners. Sector members will also get exclusive access to online B2B hub where they meet and connect with Indian and UK businesses. Business Opportunities UKIBC will host two events in July and September, in Loughborough and London respectively, focusing on ways in which UK SMEs can leverage their technical expertise to improve India's fragmented supply chain and opportunities for UK food and drink exporters in India. UKIBC anticipates that more than 100 business leaders and over 80 UK companies will attend. Members will have the opportunity to meet with expert speakers and share in their knowledge and expertise. There will be the chance to network with other businesses from the sector and access to incoming businesses from India. In addition, UKIBC plans to take a delegation to India in October to explore partnerships with Indian SMEs companies in the agribusiness, food processing and logistics sectors. UK India Business Council CEO Richard Heald says, "I urge food, supply chain and logistics companies to focus on the huge opportunities existing in fast growing economies like India. Not only is India the tenth largest economy in the world and the fourth largest by purchasing power parity, but industrial growth is picking up, offering many UK firms the chance to export their way out of the downturn here. "The UKIBC's new sector subscription service can be a catalyst to helping our companies form partnerships with Indian business and Government. This can seem like a huge leap but businesses big and small around the world are finding fantastic opportunities in India every single day." UKIBC Corporate members are companies which are already established in India and play an active role in the UK-India business agenda. The Sector Members will be companies which are exploring the Indian market and can benefit from information and access to businesses successfully doing business there. Healthy growth The Indian government has been granting significant tax breaks and subsidies in the food processing sector, including full exemption from excise duty for specified equipments to preserve, store or transport apiary, horticultural, dairy, poultry, aquatic and marine produce and meat and its processing products. This presents a huge opportunity for UK SMEs operating in the cold chain and food retail sectors. India's food processing sector constitutes 47% of the total Indian food industry and is valued at approximately £46 billion (secondary and tertiary processing sectors) compared to an overall amount of £112 billion. The food processing industry is currently growing at a rapid rate of 15-20% and is poised to reach £159 billion by 2015. It comprises almost 21% of India's GDP, making it the biggest consumption category and key driver of growth. Emerging opportunities The agricultural sector forms the backbone of the Indian economy. Almost 65% of India's rural population lives off the land, accounting for 22% of India's GDP. However, despite its significance and its crucial role for the growth of the Indian economy, this sector remains underdeveloped with only 10% of India's total food produce being processed. 30% of crops are lost post-harvest due to inadequate infrastructure, a highly fragmented supply chain and major logistical deficiencies. UK SMEs specialising in food processing technology and supply chain logistics are ideally placed to leverage their expertise and technical capability to tackle inefficiencies and cater to increasing demand for a sophisticated Indian food supply chain. There is immense potential for partnerships between UK and Indian companies in helping ensure climate resilient agriculture, providing biological software for sustainable agriculture including biofertilisers, biopesticides, vermiculture and aquaculture, and develop improved technologies of small-scale poultry and dairy farming. In the service sector, there is a growing market for soil and water quality testing to help rural families best take advantage of nutrient based subsidies introduced in 2010. Opportunities also exist in new avenues in the agri-sector such as livestock, fisheries, horticulture and the organic farming of commercial crops. These challenges present profitable opportunities for UK businesses with knowledge, technology and an understanding of how India operates. The business challenge Despite the UK being the largest recipient of Indian inward investment into Europe, the UK's share of exports to the Indian market has fallen overall in the last five years. UKIBC believes that the new service will help UK companies export their way out of the current downturn. Reported business opportunities: Life is sweet for Ed & F Man Ed & F Man, the 227-year-old British trading company has struck a deal with Indian firm Simbhaoli Sugars to build a new white sugar refinery in Kandla in the state of Gujarat. This move is in response to a rapidly growing appetite for sweets and fizzy drinks by Indian consumers - demand for sugar in India is projected to reach 25 million tonnes in 2011 which would make India the world's biggest sugar market. Sanjay Tapriya, the chief financial officer of Simbhaoli said that "the sugar processing plant would be operational within 18 months and would be capable of processing 1,000 tonnes of raw sugar a day." Case Study- Marks & Spencer Marks & Spencer Reliance India is a joint venture (JV) with Mukesh Ambani-run Reliance established in 2008. The JV currently operates 18 stores across India in cities such as Delhi, Amritsar, Mumbai, Pune, Ahmedabad, Kolkata, Bangalore, Hyderabad and Chennai with an average size of about 5,000 sq ft to over 22,000 sq ft per store. Independently of Reliance, Marks & Spencer plans to open 50 stores in India by 2014. These will be large stores of between 15,000 sq ft and 35,000 sq ft. The appointment on 21st February 2011, of two senior executives for their joint venture - James Munson to head the company's retail and marketing division, and Maneesh Gaur to head property and projects ¬ only goes to show that India is an important and profitable market for M&S and one in which they plan to continue to invest in. Notes for Editors: UK India Business Council is the premier business-led organisation promoting bilateral trade and investment between the two countries. Our mission is to facilitate an increase in trade between the UK and India through business to business dialogue. It is backed by the UK government through UKTI (the government's trade and investment arm) to ensure that the business voice is heard by governments of both countries. http://www.ukibc.com/ Media Enquiries: For further information please contact Alan Wheeler + 44 20 8579 6349 & alanwheele@aol.com or Ishara Callan at the UKIBC + 44 207 592 3045 & ishara.callan@ukibc.com http://www.ukibc.com/news_and_media/articles/110621-service-help-food-supply-chain.aspxTue, 21 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/110621-service-help-food-supply-chain.aspx Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi;} LONDON: In a letter to the Indian High Commissioner, the UKIBC Chair, The Rt Hon Patricia Hewitt said, "Every friend of India will mourn for the victims of these outrages. And because we too have suffered from terrorism in Britain, I know that the British government and authorities will continue to do everything possible to support the Government of India in its struggle against terrorism." Mrs Hewitt asked the High Commissioner to convey to Prime Minister Dr Manmohan Singh and to the chief minister of Maharashtra our support for the people of Mumbai and our deep sympathy for the victims and their families. http://www.ukibc.com/news_and_media/articles/110715-ukibc-expresses-support.aspxFri, 15 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/110715-ukibc-expresses-support.aspxThe Board of Directors of Tata Sons at its meeting today appointed Mr. Cyrus P. Mistry as Deputy Chairman. He will work with Mr. Ratan N. Tata over the next year and take over from him when Mr. Tata retires in December 2012. This is as per the unanimous recommendation of the Selection Committee. Read the Full Press Release here http://www.ukibc.com/news_and_media/articles/111123-tata_deputy_chariman.aspxWed, 23 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/111123-tata_deputy_chariman.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.aspxThu, 29 Oct 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/2009_10_29.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, 26 Jul 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/augletter.aspx Last week, we signed an MoU with Centum Learning Limited, part of Bharti Group, to train over 12 million people in India over the next decade. The training will be delivered by the UK India Skills Forum (UKSIF): a collective umbrella for the UK skills and vocational training providers, managed by the UKIBC. Meanwhile, UKIBC Chair Patricia Hewitt and Sir Gulam Noon are co-leading a delegation of UK retail and logistics companies to Chandigarh and New Delhi, from November 30th to December 4th. We are delighted to announce that our next annual summit will take place on March 10th at the Bridgewater Hall in Manchester. The thrust of the event is less on "Why India" and more on "How India". We intend to focus sharply on SMEs, which occupy so much of the economic activity in the UK and in India. The participation of the larger UK companies and Indian industry will be directed to interaction with SMEs. By bringing together some 600 UK and Indian businesses under one roof to discuss what matters to them, the UKIBC Summit is aiming to provide a platform for real interaction leading to real business. I hope you can join us in Manchester. http://www.ukibc.com/news_and_media/articles/forewardnewsnov.aspxWed, 10 Nov 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/forewardnewsnov.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.aspxTue, 30 Jun 2009 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, 12 Jul 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/letter_from_the_business_secretary.aspx Manchester Evening News covered the upcoming UKIBC Summit which will take place on March 10th 2011 at Bridgewater Hall, Manchester. To read the report, click here . The 2011 UKIBC Annual Summit will take place in Manchester, bringing together 600 businesses from across the UK and India. The Summit will feature senior industry and government speakers, showcasing both British companies succeeding in India and Indian success stories in the UK. The UKIBC Summit is not to be missed for anyone with an interest or looking to do business in India. Register today for your admission to this highly prestigious event and begin planning your day now. http://www.ukibc.com/summit/ukibc-register.html http://www.ukibc.com/news_and_media/articles/menukibc.aspxThu, 03 Feb 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/menukibc.aspx UKIBC news UK companies submit roads infrastructure proposal to Kamal Nath Indian Minister for Road Transport and Highways, Kamal Nath, has invited the British India Roads Group - an industry-led initiative - to join him in Delhi for an interactive workshop with Indian contractors, investors and National Highway Authority officials. Read More Indian MPs meet UK business Indian MP discussed opportunities in India with businesses at the UKIBC during an NGN event last week. Read more Member NEWS PwC have just released a paper called "Mind the Gap: sustaining UK plc through 2020". It relates to the E7 emerging economies, which includes India, and how the UK perceives itself in the global market place compared to views from business in Emerging Markets. Read More, click here UKIBC member RSG published a report on India. To read a summary, click here Events India Insight - St. Mellions Delegation http://www.ukibc.com/news_and_media/articles/octnewsletternews.aspxWed, 15 Sep 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/octnewsletternews.aspxNEW DELHI: Consultancy firm PricewaterhouseCoopers India (PwC) on Monday said Deepak Kapoor will take over as chairman of the company next year. Read more http://www.ukibc.com/news_and_media/articles/pwcindiachair.aspxMon, 13 Dec 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/pwcindiachair.aspxPwC have just released a paper called "Mind the Gap: sustaining UK plc through 2020". It relates to the E7 emerging economies, which includes India, and how the UK perceives itself in the global market place compared to views from business in Emerging Markets. Read More http://www.ukibc.com/news_and_media/articles/pwcreport.aspxThu, 30 Sep 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/pwcreport.aspx New Service: UKIBC Online Sector Service This service is tailor made for SMEs, to help them enter the Indian market. To find out more, click here . To download registration form, click here . To pay by direct debit, click here . To pay by credit card, click here . http://www.ukibc.com/news_and_media/articles/sectorservice.aspxMon, 16 May 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/sectorservice.aspx Over 586 delegates attended the third UKIBC Annual Summit. It was held at Manchester to encourage more companies, especially SMEs, from outside London and the South East England, to be part of the Indian growth story. To read the communique click here . http://www.ukibc.com/news_and_media/articles/summit2011.aspxWed, 30 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/summit2011.aspx North west businesses investing in new markets and emerging cities in India can help drive growth in both countries, according to experts at a summit in Manchester. More than 500 businesses were represented at the largest ever India-focused business conference, which was staged at the Bridgewater Hall and hosted by the UK India Business Council. To read the article and view images from the event, click here http://www.ukibc.com/news_and_media/articles/summitbusinessoppsmen.aspxFri, 11 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/summitbusinessoppsmen.aspx UK skills providers sign up to offer services to fill India's skills gap UKIBC signs MoU with Centum Learning during David Willets' India visit India's economic story is gripping; its political influence, growing. The role of India's rising young workforce is crucial in fuelling this growth. But this 'demographic dividend' (the population over 64 versus the age of the population under 25 expressed as percentage) cannot come from the numbers alone; India will also require its young population to have the skills that increase productivity and output. Currently, only 5 per cent of Indians aged 19-24 formally learn a trade. However, the necessity to improve vocational education and training to reap the demographic dividend of a young population is recognised at the highest levels of government, the business community and civil society. India is exploring ways to train 500 million people by 2020; both in blue collar and white collar jobs, across urban and rural India. To help India achieve this target, the UK India Business Council signed an MoU with Centum Learning Limited, a Bharti Associate company, during Minister of State for Universities and Science, David Willetts' visit on 12th November 2010. The objective is to deliver aspects of Centum's Joint Venture with the National Skills Development Corporation (NSDC). The initiative seeks to train over 12 million individuals over a 10 year period, in 383 districts of India. It is estimated that the project will require 3500 skill instructors, with 200,000 to be trained in the above mentioned sectors. Minister Willetts said, "The signing of this Memorandum of Understanding is a significant step towards creating the highly skilled workforce that India requires to match its fast economic growth. In order for India to meet its ambition for 500 million trained people across the country, it's important that partnerships are formed to ensure that training and skills are delivered in the most effective and informed way. I wish the UK India Business Council and Centum Learning Limited the best of luck in driving the country's skills agenda forward." The UKIBC formed the UK India Skills Forum (UKSIF), as a collective umbrella for the UK skills and vocational training providers of all types from basic "blue-collar" trainers to higher end skills providers such as engineering etc. UKIBC CEO Richard Heald said, "The UKISF is a one stop shop for UK skills providers. It has pioneered a consortia-based approach to the Indian market. In this way, we are able to mobilize an entity which can meet the requirements of large scale skills projects which are necessary if India is to achieve its goal of training 500 million people by 2020. The UK has an internationally recognised competitive advantage in skills provision. The shared history, language and culture between the two countries should mean that the UK is regarded as the partner of choice to drive forward the skills agenda in India. It will not only help India in increasing its productivity but will help address the social, economic disparity in terms of region, gender, etc." Centum Learning CEO Sanjeev Duggal, said, "Centum Learning, part of Bharti group, is committed to bring to India: global standards in content, skill certification standards & internationally certified skilled instructors and this initiative is one step in that direction". UKISF will assist Centum Learning with appropriate introduction to UK businesses that are part of its member base and may be relevant to the setting up of such Institute." The UKISF offers UK based skills providers a single entity through which they can collectively seek opportunities in this area and to engage with Indian entities with the objective to provide education and vocational training skills as required. On the other hand, the UKISF offers Indian companies - both public and private - a single platform through which they can access the broadest range of skills provision. The UKISF will carry out a scoping exercise to assess the needs of the Assessor and Trainer Institute (ATI) with Centum Learning. The recommendation for the scoping exercise will inform the implementation of a pilot project ATI. Once the pilot project has been suitably evaluated, the project will be "rolled out" across six sectors - automotive, retail, telecoms, hospitality, construction and healthcare. The relevant skills providers within the UKISF will provide a range of services including training and accreditation, sharing curriculum and certification and supply of materials and equipment. _ENDS Notes to Editor For further information or to speak to UKIBC CEO, email Ishara.Callan@ukibc.com or call 0044 2075923045 About UK India Business Council : The UK India Business Council ("UKIBC") is the premier membership-led organisation promoting bilateral trade and investment between the UK and India. About UK India Skills Forum : UKIBC formed the UK India Skills Forum (UKSIF) in April 2009, for which it provides the secretariat. The UKISF comprises UK based skills providers to collectively seek opportunities in this area and to engage with Indian entities with the objective to provide education and vocational training skills as required. It is responsible for the coordination of business input to UKTI-led Government-to-Government activity in these sectors, including the promotion of business-to-business activity. The UKISF is Co- Chaired by Mr. RCM Reddy, CEO IL&FS CDI and Mr. Roy Newey, Group Board Director, A4e Ltd. About Centum Learning : Centum Learning Ltd. is a wholly owned subsidiary of Bharti Enterprises, which provides end to end learning and skill building solutions for the Bharti Group companies, several large corporates, state & central governments in India. It provides learning solutions that impact business performance through enhanced employee productivity, customer profitability and effective talent transformation. Centum Learning Limited has created a joint venture company in equity partnership with NSDC (National Skills Development Corporation) Workskills India Ltd to skill 11.7 million rural youth for employability in the next 10 years in sectors like construction, healthcare, organized retail, telecom, hospitality and automobile. http://www.ukibc.com/news_and_media/articles/ukibccentum.aspxFri, 12 Nov 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/ukibccentum.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.aspxTue, 24 Aug 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/ukibc_ficci_ukisf_awards.aspx London: 22 June 2011 Digital innovation companies across the UK are being urged to sign up to a brand new service to boost their export success to India - a country that already boasts an IT software and services sector worth £47 billion in revenues. The new service launches on 1 July, is being offered by the UK India Business Council (UKIBC), the business led organization backed by UK Trade & Investment (UKTI) to boost UK India bilateral trade. This service is targeted at companies, especially SMEs looking to enter India or are new to India. For a fee of just £35 per month UKIBC will provide intelligence, events, reports, and create "communities" linking large and small companies around specific digital industry sectors from media and entertainment, IT and telecoms to electronics. Included are frequent news updates on transactions, government announcements and press reports; a quarterly digital sector report, featuring market trends, case studies of UK companies succeeding in India, profiles of leading Indian businesses and business opportunities. Members will have access to UKIBC events in the digital sector, including networking with visiting Indian delegations and access to an online business forum for UK and Indian companies. Business Opportunities During the next quarter, UKIBC will host online Innovation Forum with participation from Indian and UK companies. It will also host Innovation event in November bringing together some of the leading tech companies and business advisors from the two countries. Sector members will have the opportunity to listen to them, share their expertise and experience, and meet them. They will also meet other digital companies and have access to incoming businesses from India. Forthcoming research papers for members cover the UK's innovation clusters and the Indian regulatory environment in broadcasting and the analogue to digital switchover. In October, there are plans to take a delegation comprising mainly small and medium sized businesses to India to explore partnerships with Indian companies in the technology sectors UK India Business Council CEO Richard Heald says, "I urge technology companies to focus on the huge opportunities existing in fast growing economies like India. Not only is India the tenth largest economy in the world and the fourth largest by purchasing power parity, but industrial growth is picking up, offering many UK firms the chance to export their way out of the downturn here. "The UKIBC's new sector subscription service can be a catalyst to helping our companies form partnerships with Indian business and Government. This can seem like a huge leap but businesses big and small around the world are finding fantastic opportunities in India every single day." UKIBC Corporate members are companies which are already established in India and play an active role in the UK-India business agenda. The Sector Members will be companies which are exploring the Indian market and can benefit from information and access to businesses successfully doing business in India. Digital revolution Industrial growth in India is picking up with the ICT and telecoms sector experiencing sustained growth. Opportunities are continuing to emerge in IT-BPO, telecommunications, SaaS (Software as a service) applications, mobile applications and wireless connectivity. According to a recent report published by National Association of Software and Service Companies (NASSCOM) the sector is estimated to aggregate revenues of £ 54.5 billion in FY2011 with the IT software and services sector (excluding hardware) accounting for £47 billion of revenues. IT has been essential in fuelling India's economic development, with demand being driven by the country's burgeoning domestic market. As the industry moves up the value chain it has become a more mature market with access to a growing base of technology users in both the business-to-business as well as business-to-consumer segments. India's evolution has also had positive implications for providers of software-as-a-service-model (SaaS), of huge interest to India's corporate world due to its low maintenance cost and ease of use. SaaS vendors such as Salesforce.com or Citrix online are among some of the early movers, and UK companies interested in the market would be well placed to explore the growing opportunities at this stage. The telecoms market looks very healthy (India boast's the second largest in the world) with many operators launching their 3G services and the sector expected to witness rapid growth. The uptake of value-added services, smartphone devices, and next-generation solutions is also gaining significant traction. The growth in the wireless category was led by UK-based Vodafone, which added 17.61% of the net additions, taking its subscriber base to 131.68 million, as of February 2010. Growth opportunities India is proving a lucrative market for many UK-based firms who are seeing huge growth opportunities. Infosys, which set up its first global European office in Milton Keynes in 1997 and established a global development centre at London's Canary Wharf in 2000, is India's number two software services firm. Despite the UK being the largest recipient of Indian inward investment into Europe, the UK's share of exports to the Indian market has fallen overall in the last five years. UKIBC believes that the new service will help UK companies export their way out of the current downturn. Case study - Delcam dives into India talent pool UK based 3D modelling company Delcam International, with a presence in over 80 countries, set up their Indian subsidiary Delcam Software India in Pune, which is a tier-2 city, and subsequently set up offices in various other tier-2 cities including Ludhiana and Ahmedabad. According to Vineet Seth, Managing Director of Delcam Software India, Pune has a great infrastructure and is accessible in cost and easy to reach. "Emerging cities offer a big pool of talent that can either be exported to the larger metros or used locally. The talent is there, readily available and accessible. An emerging city like Pune allows you to travel to visit a client more than once a week; but in a metro this would be almost impossible because of the traffic. Your support cycle therefore takes longer in a metro, and the saving of time alone is a very good reason to consider setting up in an emerging city" says Seth. Case Study- Red Vision Following his visit to India in September 2008 with UKTI's India Unit in the north-west, Red Vision Group CEO, David Mousley, established a number of valuable commercial relationships, most notably with Mumbai-based animation studio Graphitti. The two companies are now working closely together to secure the funding for an innovative children's animation series based on a traditional Indian art style, but delivered using modern animation techniques and methods. In addition, the company is forming links between media educational bodies in Mumbai and Manchester to develop globally linked centres of excellence in animation craft and technology. Notes for Editors: UK India Business Council is the premier business-led organisation promoting bilateral trade and investment between the two countries. Our mission is to facilitate an increase in trade between the UK and India through business to business dialogue. It is backed by the UK government through UKTI (the government's trade and investment arm) to ensure that the business voice is heard by governments of both countries. http://www.ukibc.com/ Media Enquiries: For further information please contactAlan Wheele ++ 44 20 8579 6349 & alanwheele@aol.com, or Ishara Callan at the UKIBC + 44 207 592 3045 ishara.callan@ukibc.com http://www.ukibc.com/news_and_media/articles/110622-service-help-digital-media-innovationexpor.aspxWed, 22 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/110622-service-help-digital-media-innovationexpor.aspx Press Release London: 23 June 2011 Skills and education companies across the UK are being urged to sign up to a brand new service to boost their export success to India - a country where the National Skill Development Corporation alone is investing £95 million in training over a decade. The new service launches on 1 July, is being offered by the UK India Business Council (UKIBC), the business led organization backed by UK Trade & Investment (UKTI) to boost UK India bilateral trade. This service is targeted at companies, especially SMEs looking to enter India or are new to India. For a fee of just £35 per month UKIBC will provide intelligence, events, reports, and create "communities" linking large and small companies around new business opportunities. The service will include insightful reports and access to the work of the UK India Skills Forum (UKISF) - which has successfully pioneered a consortia-based approach to the Indian market and provide profiles of Indian and UK companies working in the education and skills sector in India. Online, this sector's pages will be regularly updated with fresh reports and analysis, all with the aim of helping businesses better understand the market, identify profitable business opportunities and connect with potential partners. They also get exclusive access to online B2B hub where they meet and connect with Indian and UK businesses. Business Opportunities In September, UKIBC will take a delegation of skills providers to India and will host an inward delegation of Indian skills providers in October. Sector service members will have the opportunity to listen to expert speakers, share their knowledge and experience and meet them, network with other businesses from the sector and have access to incoming businesses from India. UK India Business Council CEO Richard Heald says, "I urge education and skills providers to focus on the huge opportunities existing in fast growing economies like India. Not only is India the tenth largest economy in the world and the fourth largest by purchasing power parity, but industrial growth is picking up, offering many UK firms the chance to export their way out of the downturn here. "The UKIBC's new sector subscription service can be a catalyst to helping our companies form partnerships with Indian business and Government. This can seem like a huge leap but businesses big and small around the world are finding fantastic opportunities in India every single day." UKIBC Corporate members are companies which are already established in India and play an active role in the UK-India business agenda. The Sector Members will be companies which are exploring the Indian market and can benefit from information and access to businesses successfully doing business in India. Healthy growth The UK Government has pledged that India is a key priority for engagement, with education and skills underpinning much of the collaborative work planned, with both governments giving education and skills a central role. During the Prime Minister's visit to India last year, he announced that the UK-India Education and Research Initiative (UKIERI) would continue for a further 5 years, meaning there are now funds available for the operations of UK skills providers in India. With 28 partners in skill development, the Indian National Skill Development Corporation (NSDC) is a public private partnership mandated to skill 150 million people by 2022. They will, over a 10-year period, train about 45 million people and the total financial commitment for this is around £95 million. This year the NSDC has a target to look at 32 proposals to train between 15-20 million people. They will also seek to set up more sector skill councils. There is a need for engineering colleges to actively engage in the skills space. Many colleges are asking companies what kind of people they want and are getting curriculum approved by companies. This demand-led engagement with the industry has to be done on a broader scale and a lot of NSDC partners are doing this. Skill development and advanced management courses are not regulated. As such the sector is attracting the interest of the private sector. The UKIBC has direct contact and close links with the NSDC leadership and skills forum members are also seeking to supply services to a number of NSDC joint ventures such as those with Globsyn Skills and Centum Learning. Emerging opportunities A significant gap exists in the availability of skilled labour in the Indian textile industry. As the textiles and clothing industry is the country's second largest employer after agriculture this represents a significant opportunity for UK skills providers. Requirements range from specialists textiles training to skills for employability. According to Nasscom, the next big leap of growth in Indian IT-BPO sector will be achievable only by addressing the employability of fresh graduates, bridging the supply-demand skills gap. This is particularly good news for UK skills providers who are already familiar with the SSC model as a means to ensure that training is responsive to industry needs. The business challenge Despite the UK being the largest recipient of Indian inward investment into Europe, the UK's share of exports to the Indian market has fallen overall in the last five years. UKIBC believes that the new service will help UK companies export their way out of the current downturn. Case study - A4E into India Frontline public services provider A4E has successfully delivered many projects for employability, enterprise, livelihood, poverty and financial advisory services for the black and minority ethnic communities in the most disadvantaged areas of the UK. Their cross-cultural experience encouraged them to successfully export their services to a challenging and diverse market in India. A4E India Head of Development Sidharth Mishra says: "We believe in transforming rather than transferring our solutions, sharing best practices from our work from around the world, thus bringing a unique international perspective to local challenges. We are also working very closely with quality local organisations, agencies and private companies to understand the local market challenges." Reported business opportunity: Pearson to plug education gap Pearson Plc, owners of the Financial Times and the Penguin brand, views India as a laboratory in the education field. Following its acquisition of a majority stake in Bangalore-based TutorVista, Pearson is planning an even bigger portfolio for itself. President of Pearson India, Khozem Merchant, says: "As the world's largest education services company, we have a key role to play with things that support the delivery of learning. It's not just the content; it's training the schools, managing the technology to provide learning tools, to provide remedial education, from K-12 to school management services, to vocational training and professional education. We can step in confidently into that gap in India." Notes for Editors: UK India Business Council is the premier business-led organisation promoting bilateral trade and investment between the two countries. Our mission is to facilitate an increase in trade between the UK and India through business to business dialogue. It is backed by the UK government through UKTI (the government's trade and investment arm) to ensure that the business voice is heard by governments of both countries. http://www.ukibc.com/ Media Enquiries: For further information please contact Alan Wheele ++ 44 20 8579 6349 & alanwheele@aol.com, or Ishara Callan at the UKIBC + 44 207 592 3045 ishara.callan@ukibc.com http://www.ukibc.com/news_and_media/articles/110623-service-help-skills-ed-export.aspxThu, 23 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/110623-service-help-skills-ed-export.aspx Today the UKIBC launched a new service tailor-made for SMEs: the UKIBC Online Sector Service . This online service provides intelligence, events, reports, and create "communities" linking large and small companies around specific industry sectors. The Online Sector Service offers: Frequent news updates via the UKIBC website e.g. transactions, government announcements, press reports, etc. A quarterly report on each sector, featuring market trends, case studies of UK companies succeeding in India, profiles of leading Indian businesses, and business opportunities. Free access to UKIBC events in your particular sector. Free access to networking events with visiting Indian delegations. Discounted fees for UKIBC delegations in the particular sector. Exclusive access to UKIBC's Online Business Forum for UK and Indian companies ( hub.ukibc.com ) Sector specific details Advanced Engineering And Manufacturing Digital Media and Innovation Infrastructure Life Sciences and Healthcare Retail, Food and Supply Chain Logistics Skills And Education What the trade papers said: New service helps UK medtech export to India (Medtech Business ) New retail service targets India (RetailTechnology) New Service To Help Life Sciences and Healthcare Companies Export to India (Pharma) To register Download your registration form here (PDF, 268 KB) . http://www.ukibc.com/news_and_media/articles/110701-new-service-launch-sme-india.aspxFri, 01 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/110701-new-service-launch-sme-india.aspx Delegation of 60 companies visit New Delhi and Kolkata LONDON: A delegation of over 60 skills providers is visiting India to meet businesses, explore opportunities and strike partnerships in New Delhi and Kolkata. Delegates come from a range of skills and education providers including, A4e, City of Westminster College, Tribal, Edexcel, City & Guilds and Hull College. The delegation, being led by the UK India Business Council (UKIBC) will begin in Kolkata, and participate in a workshop with the Government of West Bengal, leading industrialists, and Kolkata based skills providers. Then it will go to New Delhi where UK will be represented as the Partner Country at the Federation of Indian Chambers of Commerce and Industry (FICCI) Skills Summit. UK delegates will participate in the UK India Skills Forum (UKISF) Awards, Train the Trainer workshop and meet significant Indian training companies. On the occasion, UKIBC will also release a booklet outlining lessons learned from vocational education in schools in the UK. Speaking about the delegation Richard Heald, CEO, UKIBC said, "The UK has an internationally recognised competitive advantage in skills provision. The shared history, language and culture between the two countries should mean that the UK is regarded as the partner of choice to drive forward the skills agenda in India. It will not only help India in increasing its productivity but will help address the social, economic disparity in terms of region, gender, etc. During the visit we will share lessons learned in the UK in vocational training which are relevant to India." Welcoming the delegation, Sanjay Wadvani, British Deputy High Commissioner, Kolkata, said, "I am delighted to welcome one of the largest British business delegations to Kolkata next week. A 45-member strong British team representing 32 UK institutes and colleges are coming to the city to explore areas of mutual cooperation with Bengal educational institutes and corporate entities in areas of skill development, education and training." Currently, only five per cent of Indians aged 19-24 formally learn a trade. However, the necessity to improve vocational education and training to reap the demographic dividend of a young population is recognised at the highest levels of government, the business community and civil society. India is exploring ways to train 500 million people by 2020; both in blue collar and white collar jobs, across urban and rural India. To support India achieve this target, the UK India Business Council signed an MoU with Centum Learning Limited, a Bharti Associate company, last year, The objective is to deliver aspects of Centum's Joint Venture with the National Skills Development Corporation (NSDC). The initiative seeks to train over 12 million individuals over a 10 year period, in 383 districts of India. It is estimated that the project will require 3500 skill instructors, with 200,000 to be trained in the above mentioned sectors. During this delegation, UKIBC will sign an Memorandum of Understanding (MoU) with FICCI to explore areas of collaboration including skills development, training the trainers, demonstrating best practices and models, knowledge transfer facilities and utilising collective expertise of UKISF (UK India Skills Forum) for government funded programs for vulnerable groups. Heald added, "The UKIBC formed the UK India Skills Forum (UKSIF), as a collective umbrella for the UK skills and vocational training providers of all types from basic "blue-collar" trainers to higher end skills providers such as engineering etc." The UKISF is a one stop shop for UK skills providers. It has pioneered a consortia-based approach to the Indian market. In this way, UKIBC and UK skills providers are able to mobilize an entity which can meet the requirements of large scale skills. For more information email pallab@apollopublicrelations.com , ishara.callan@ukibc.com or call 02075923045 ENDS Notes to Editor About UK India Business Council (UKIBC) UK India Business Council is the premier business-led organisation promoting bilateral trade and investment between the two countries. Our mission is to facilitate an increase in trade between the UK and India through business to business dialogue. UKIBC plays an influential role in creating and sustaining an environment in which free-trade and investment flourishes. Through the facilitation of partnerships, and with 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. Back to UKIBC newsletter, August/September 2011 http://www.ukibc.com/news_and_media/articles/110912-uk-skills-providers.aspxMon, 12 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/110912-uk-skills-providers.aspx PRESS RELEASE LONDON: Chair of the UK India Business Council, Rt Hon Patricia Hewitt, has said that the UK looks forward to discussing opportunities for collaboration in the health sector with the government of West Bengal. Giving the keynote address to the CII Health East conference in Kolkata on Wednesday 28 September, Patricia Hewitt - who served in Tony Blair's Cabinet as Health Secretary - said that: "India is transforming healthcare - for instance, with the work of the Rabindranath Tagore International Institute of Cardiac Science in Kolkata and its partnership with the Bangalore Health City, which leads the world in the quality, scale and efficiency of heart operations. India's 'frugal innovation' has already produced an ECG device at a fraction of the price of Western technology. "NRI doctors play an essential role in Britain's National Health Service, many of them in primary care where the NHS is internationally recognized as a leader. As both India and Britain face the challenge of preventing and treating chronic illnesses such as diabetes, heart disease and obesity, there is an enormous amount that we can learn from each other." Ms Hewitt announced that healthcare and life sciences is one of the top priority sectors where the UKIBC and UK Trade and Investment (UKTI) are seeking to strengthen working and understanding between the two countries. Opportunities for greater collaboration are being explored by a new health subgroup of the India UK CEO Forum chaired by Sir Mark Walport, Director of the global charitable foundation, the Wellcome Trust, working closely with the UKIBC and UK-India Roundtable. The India UK CEO Forum is co-chaired by Ratan Tata and Peter Sands and was established by the Indian and British Prime Ministers in July 2010. Ms Hewitt said, "We in Britain are committed to working with the Honourable Chief Minister and the people of West Bengal to understand how we can develop our relationship for the benefit of patients in both our countries." While in Kolkata, Ms Hewitt will be joined by the Deputy High Commissioner, Sanjay Wadvani, in meetings with officials and healthcare experts. Sanjay Wadvani said, "The UK government and business is looking to develop its relationship with the public and private sectors in West Bengal. There are a number of areas of mutual interest and healthcare is clearly one of the priority areas". ENDS For more information email ishara.callan@ukibc.com or call 02075923045 Notes to Editors About UK India Business Council (UKIBC) Rt Hon Patricia Hewitt served in Tony Blair's government between 1998 and 2007. As Secretary of State for Health between 2005 and 2007, she introduced the ban on smoking in enclosed public places that has already had a proven impact on public health. Her full biography is at www.ukibc.com Ms Hewitt now chairs the UK India Business Council, the premier network connecting businesses, entrepreneurs and professionals between Britain and India. UKIBC is backed by the UK Government and works closely with UK Trade and Investment (UKTI) http://www.ukibc.com/news_and_media/articles/110927-uk-to-explore.aspxTue, 27 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/110927-uk-to-explore.aspx Salwan Media names the International Herald Tribune and India Ink as the exclusive international media partners for 'One Globe 2012 - Uniting Knowledge Communities' Conference Read the full release here http://www.ukibc.com/news_and_media/articles/120109_press_release_one_globe.aspxMon, 09 Jan 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/120109_press_release_one_globe.aspx Read the full release here http://www.ukibc.com/news_and_media/articles/120404_mou.aspxWed, 04 Apr 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/120404_mou.aspx Dear Reader This hasbeen a challenging year for businesses worldwide, however, I am pleased toshare the news that two-way trade in goods and services between the UK andIndia increased by 10.7 per cent in 2011 Q1 compared to 2010 Q1. We havealso seen a marked increase in our membership. This year we welcomed Tata andPearson as our Strategic Partners and launched our sector service successfully.This aimed, aimed at SMEs, has been well received. We alsotook the largest ever skills business delegation to Kolkata and signed an MoUwith FICCI and the state of West Bengal for skills training. As you areaware, our 2012 Networking Summit in Manchester was a big success with over 480delegates attending it. We aim to follow this with another ambitious Networking Summit in March 2012 inManchester. I hope you will join us again. And lastly,I would like to wish you all a very Merry Christmas and a Happy New Year. Richard Heald Chief Executive UK India BusinessCouncil http://www.ukibc.com/news_and_media/articles/201211_foreword.aspxTue, 20 Dec 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/201211_foreword.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.aspxTue, 27 Oct 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/27-10-2009_ahmedabad.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.aspxWed, 31 Mar 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/31_03_2010.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.aspxThu, 19 Aug 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/clintech.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.aspxTue, 15 Jun 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/deepak_lalwani_awarded_obe.aspx Can I start by asking why Britain has now decided there is a need for stronger laws on bribery? There has actually been pressure growing for some time now for Britain to strengthen its bribery laws as more and more countries have implemented the Organisation for Economic Cooperation and Development's convention on combating Bribery of Foreign Public Officials. These anti-corruption efforts have been led by the US and supported by the UN and EU, so there has been more demand that the UK also implement and actively enforce similar rules. The Bribery Act has been described as 'one of the most stringent laws of its kind'. Can you explain why? There are a number of reasons. However, the primary one is that a commercial organisation is now strictly liable for the activities of its associated third parties. It will be guilty of an offence when one of these third parties bribes another person with the intention of obtaining or retaining business, or a business advantage for the organisation. Importantly, corporate ignorance of individual wrong-doing provides no protection against prosecution. So if an individual or an organisation is prosecuted, what are the penalties? The Act provides for unlimited fines against corporates and, to give an indication of the potential damages to companies, fines in recent cases brought by the SFO have totaled up to £30 million. Further, the US Department of Justice has recovered approximately $600 million in the first half of this year alone. Given the number of corruption cases currently being investigated by the SFO, we envisage that the total fines levied by the UK will increase significantly by year's end. In addition to the corporate penalties, it is important to note that prison sentences of up to 10 years can also be imposed on individuals found to have committed an offence under the Act. Are there other penalties and costs potentially associated with a bribery and corruption offence? There certainly are. Under the current EU procurement regime, UK corporates found guilty of a bribery offence would be automatically debarred from EU contracting. That is not to mention the costs related to management and employee distraction during an investigation and the reputational harm brought about by an offence. Can you outline what the different offences are within the Act? There are essentially four separate offences, one being offering, promising or giving a bribe. The other three offences are requesting, agreeing to receive or accepting a bribe, bribing a foreign public official, and a corporate offence of failing to prevent bribery. KPMG describe the new law as a 'blessing in disguise'. Can you expand on that? Sure. We argue that this particular law will actually create a timely opportunity for securing long-term advantages in corporate culture and control, which will in turn benefit the bottom line. Having said that, this will only prove a 'blessing in disguise' to those who grasp, act on and embrace its implications. So, how can organisations ensure they have adequate procedures in place? It's important to understand that the Act isn't prescriptive about adequate procedures in the sense that the prosecutors will not tell you exactly what you need to do to win a pass. However, regulators in both the UK and US will expect companies to adopt a risk-based approach to developing anti-bribery and corruption compliance programmes. As a result, in our view, a proper risk assessment is absolutely fundamental because every threat isn't equal. It is essential that firms know their own unique risks before devising policy and procedures. It's also imperative that boards and senior executives not only set good personal examples, but also ensure lower tiers of management follow their lead. In that regard, 'tone from the middle' can be just as important, if not more so, than 'tone from the top'. Further, educating staff about how they can spot corruption and how damaging it can be is a key part of a good AB&C programme. Training is high on the list of adequate procedures expected by the authorities, and staff need practical guidance on warning signs, issues and ethical dilemmas they might face in their jobs. I also really want to stress the importance of proper due diligence to ensure more reliable relationships. This shouldn't be treated as a one-off exercise, but instead should be conducted on a regular basis. Corruption scandals are often caused by low awareness of whom a business is working with as firms can lose control of agents or turn a blind eye to their activities. Suppliers and joint ventures can also prove problematic as staff often can go unscreened. Can you briefly sum up a few of the key ways firms can embed their AB&C programmes? Sure. Boards should really take responsibility for AB&C and appoint a senior officer accountable for oversight. Also, having in place regular and risk-based monitoring and auditing is fundamental. Another way to minimise the risk of bribery is to have financial controls and record-keeping. Lastly, wherever possible, companies should implement procurement and contract management procedures to minimise the opportunity for corruption by sub-contractors and suppliers. You can download KPMG's better practice document called Blessing in Disguise at our website www.kpmg.co.uk/abcs or email riskandcompliance@kpmg.co.uk http://www.ukibc.com/news_and_media/articles/iangomesinterview.aspxWed, 20 Oct 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/iangomesinterview.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.aspxFri, 20 Aug 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/infra.aspx By Richard Heald January has seen considerable activity. A hugely successful Jetco process took place in Delhi on 19th of the month, chaired by Minister Shri Anand Sharma and Secterary of State Dr Vince Cable, with parallel sessions taking place focussing on Skills, on Innovation (including Lifesciences) and on Advanced Manufacturing. The same day saw the launch of the British India Infrastructure Group (BIIG) by Finance Minister Pranab Mukerjee and Secterary of State Dr Vince Cable, which aims to build on the excellent work of British India Roads Group (BIRG) to broaden the engagement of UK and Indian industry into other areas of Infrastructure such as urban renewal. The newsletter this month, focuses on the business opportunities within the Infrastructure arena in India and the opportunities which are available to the UK industry. I am pleased that the UKIBC was fully engaged in assisting the UK industry in giving input into the deliberations and focusing on achievable deliverables. We continue to focus on making the UKIBC Annual Summit in Manchester on March 10th the major event in the current calendar. We are pleased that there has been considerable support already from speakers (inter alia, ARM, BAe, HCC, Hero Group, Religare, Reliance, Rolls Royce, Star TV and Tata) and sponsors. We are quietly confident that we will achieve our objective of creating a real atmosphere of interaction between companies wanting to learn and connect with major UK and Indian practitioners - MNC's, OEMs and SMEs. We are also pleased to announce that the event will benefit from a CII delegation from India. 2011 has started with a high level of activity, building on the momentum created by the visit of the Prime Minister David Cameron to India in July of last year. We anticipate that there will be a number of further announcements concerning bilateral trade over the coming months and the UKIBC will continue to be "in the thick of it" as a catalyst through the creation of initiatives and the roll-out of new services. While the environment will undoubtedly be challenging, we, nevertheless, wish you all a very prosperous 2011. http://www.ukibc.com/news_and_media/articles/januarynewsletterforeword.aspxMon, 31 Jan 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/januarynewsletterforeword.aspxThe October 2010 UKIBC Newsletter is available online. To read more, click here .http://www.ukibc.com/news_and_media/articles/newsletteroct.aspxMon, 01 Nov 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/newsletteroct.aspxForeword | Richard Heald, CEO, UKIBC Post the Prime Minister's visit in July, the UKIBC has been charged with galvanising UK industry in two more sectors - advanced manufacturing and healthcare and life sciences - to add to the existing four of infrastructure, skills, retailing and logistics and IT (including digital content). The UK Government has set the tone by declaring that "Britain is open for business". The focus of the UKIBC remains on assisting both its members and other businesses - in UK and India - turning goals into realities across the above six sector verticals. UKIBC's engagement with UK industry has been substantial, there are a total of some 708 companies of all sizes who have been involved in the four sector fora to date. We expect this to increase as activities, information flow and deliverables increase. To help businesses locate opportunities and avoid pitfalls, we keep them posted of business opportunities, India intelligence, policy changes and legislations. This issue of the UKIBC-KPMG monthly newsletter addresses the UK Bribery Act 2010 which will come into force in April 2011. http://www.ukibc.com/news_and_media/articles/octobernewsforeward.aspxWed, 15 Sep 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/octobernewsforeward.aspx By Raj Julleekeea Engineering and Construction companies looking to invest in India need to consider a variety of tax issues. Overall tax rates can be relatively high, so careful tax planning is vital. Some of the relevant taxes applicable to E&C companies are listed in the table in the full PDF document . Transfer pricing regulations were introduced in India in 2001. The transfer pricing provisions generally follow the relevant Organisation for Economic Co-operation and Development (OECD) guidelines, with certain fundamental differences. The Government's strong focus on promoting infrastructure development also extends to tax policy, with a number of policy measures and incentives now in place for the construction of infrastructure facilities, including a numbers of tax holidays, although Minimum Alternate. Tax (MAT) of up to 19.93% may be payable on book profits during this period. Relevant tax holidays, their applicability, and the eligibility of each infrastructure sector can be provided by PwC. On 30 August 2010 the government placed before the Parliament the DTC which is proposed to replace the existing direct tax legislation from 1 April 2012 with an objective to moderate the tax rates and simplify tax laws. In addition to changes in the tax rates, some of the other aspects proposed in the DTC include introduction of General Anti-Avoidance provisions, Advance Pricing Arrangements and Safe Harbour rules for international transactions, etc. For certain sectors like infrastructure, there has been a shift from profit-based tax holiday to expenditure / investment-based tax holidays. However, existing eligible projects under the existing tax regime will still continue to enjoy profit linked tax holiday. The Bill has now been referred to the Standing/Select Committee of the Indian Parliament for further deliberation. From an indirect tax perspective, India has proposed to transition to a national integrated Goods and Services Tax ('GST') for levy of tax on goods and services. The Government is yet to finalise the date of implementation of GST. The proposed dual GST model will comprise Central GST and State GST on the supply of goods and services. The dual GST proposed by the Government will herald India to an efficient indirect tax system and create a common market on a pan-India basis. The draft legislations are yet to be issued by the Government. International tax considerations Effective tax structuring into India is vital as this impacts on how attractive a project is to target investors and has a direct influence on the net internal rate of return. It is therefore particularly important that international investment opportunities are structured appropriately to take into consideration tax, accounting, regulatory and legal aspects. Some key areas to consider are briefly listed below. Entry and exit strategy Holding company location - Appropriate planning in respect of a holding company jurisdiction is necessary to optimise Indian withholding tax and Indian capital gains on the sale of shares in Indian companies. Financing - In order to introduce debt into India, there are various issues that need to be considered such as the Indian External Commercial Borrowings rules, withholding tax issues on distributions out of India and the availability of a tax deduction for the distribution at the Indian level. Holding the investment Permanent Establishments - One of the risks with managing investments in India is managing the Indian permanent establishment position, where if the Indian tax authorities successfully argue that there is an Indian permanent establishment of foreign operations in India, then there may be significant adverse tax implications. It is therefore important to carefully manage the operations carried out at the Indian level.In practical terms in the E&C industry, activities generally take a long time to complete, and hence PE clauses (especially fixed base and service PE) come into play in this industry more often. Cash and profits repatriation Profit repatriation - There are various options on repatriating profits from the structure, such as dividend distributions, share sale, capital reductions, all with differing tax impacts. Engineering, procurement and construction (EPC) contracts - onshore versus offshore In the E&C industry, the execution of projects is undertaken substantially by way of an engineering, procurement and construction (EPC) contract. A typical EPC contract will have the following scope of work in a single project: • Supply of equipment (offshore and onshore) • Installation/commissioning • Services (offshore and onshore) • Software/technology transfer (offshore and onshore) Under a typical EPC contract, a non-resident contractor performs a multitude of activities. The scope of work under an EPC contract would include both onshore and offshore activities. Taxability of payments received by foreign companies under EPC contracts has become a matter of great debate and litigation. The Indian revenue authorities often attempt to bring the entire EPC contract, including the offshore supplies and services, within the range of taxes in India. The tax authorities may cite a business connection in India, and also note the presumed indivisibility of EPC contracts. Indirect tax issues The majority of the E&C services rendered by a company in India are subject to either service tax, VAT, or both, depending on whether the services rendered by E&C companies are in the nature of a construction contract or service contract. Apart from the above, there are certain other indirect tax issues like multiplicity of taxes, double taxation, differential rates on goods and services which need to be addressed appropriately, especially relating to contract structuring. Companies need to ensure that indirect taxes are taken into account as they make decisions around how to structure a particular project so as to make the project tax efficient. Further, in order to reduce the tax cost it is important to ensure that all the indirect tax benefits are availed. Also, with the proposed introduction of GST, it is imperative to review the strategies for structuring of EPC contracts as change in tax rates and taxable base may have an impact on each of the projects. Revisiting the pricing mechanism of the existing contracts and change in law clauses is also critical. To download the full PDF, click here http://www.ukibc.com/news_and_media/articles/pwcnewslettertaxenvironment.aspxWed, 01 Dec 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/pwcnewslettertaxenvironment.aspx The highlight of the last month was undoubtedly the launch of the UKIBC Technology Forum. In partnership with UKTI, we were delighted to host Som Mittal, President, Nasscom at a fascinating seminar at Microsoft's office on 9 September. The Forum will be multi-dimensional, and, importantly, will be a key delivery vehicle for Enabling Innovation India, which was launched by the Business Secretary, Vince Cable, when he was in Bangalore in July. Another important development over the summer was the 16-strong skills delegation that visited Mumbai and New Delhi in August. The group made important progress with various major corporate and Government bodies, and there are several potential deals in the pipeline. We hope to be able to bring you news of these later in the year. A key date for your autumn diary is our delegations to Mumbai for FICCI Food World from 24 to 26 November, and to New Delhi and Chandigarh from 30 November to 4 December. The key focus of this delegation will be agribusiness, food processing and the related supply chain logistics. We very much look forward to welcoming you on these delegations. http://www.ukibc.com/news_and_media/articles/septforeword.aspxSat, 11 Sep 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/septforeword.aspx We are pleased to announce that we have industry leaders, both from the UK and India, including from Tata Group, Hero Group, Reliance, Rolls Royce, Arup, JCB, addressing the Summit. The focus this year is on "how India" and not "why India". With SMEs in mind, we are taking it outside London to Manchester. The idea is not to have just a series of talking heads but engage with people with expertise. For more information, please go to www.ukibc.com/summit http://www.ukibc.com/news_and_media/articles/summitjannews.aspxSat, 01 Jan 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/summitjannews.aspx Stephen Green to address delegates alongside Industry leaders Over 600 businesses from across the UK and India will meet to participate in the UKIBC Annual Summit: 'Your Route to Success: UK and India: Building a 21st Century Special Relationship', which will take place at Bridgewater Hall in Manchester on 10th March 2011. The Summit will feature senior industry and government speakers, showcasing both British companies succeeding in India and Indian success stories in the UK. Stephen Green, designate UK Trade Minister will share his views on UK-India trade and investment alongside industry leaders from the UK and India. Over 600 businesses from across the UK and India will meet to participate in the UKIBC Annual Summit: 'Your Route to Success: UK and India: Building a 21st Century Special Relationship', which will take place at Bridgewater Hall in Manchester on 10th March 2011. The Summit will feature senior industry and government speakers, showcasing both British companies succeeding in India and Indian success stories in the UK. Stephen Green, designate UK Trade Minister will share his views on UK-India trade and investment alongside industry leaders from the UK and India. Overcoming the impact of the global economic recession, Indian economy is poised to achieve nine per cent growth in the current financial year. It is largely driven by robust performance in agriculture and industry sectors. British interest in accessing this opportunity has hit a new high since David Cameron's trade delegation to India in July. Welcoming companies to participate in the Summit, UK India Business Council Chair Rt. Hon. Patricia Hewitt said, "India is a market that can't be ignored by companies looking for new opportunities. The focus on the day will be on six key sectors: infrastructure, skills & education, retail, logistics & supply chain, technology, life sciences, and advanced engineering and manufacturing." Highlighting the importance of India as a business destination, UKTI Chief Executive, Andrew Cahn, said, "The Prime Minister has said he wants to see UK companies of all sizes seize the opportunities of working with and in India, a vital and rapidly growing partner. I welcome, therefore, the focus of this year's UKIBC Summit on these key sectors. We want more of the UK's innovative and adventurous SMEs to explore and benefit from the exciting prospects India offers - both in India, and with Indian companies which UK companies can partner and grow alongside. I am sure that companies which attend the Summit will see real benefits, and UKTI stands ready to support them in their success". Standard Chartered which is the largest foreign bank in India is sponsoring the Summit. Vice Chairman Sir Thomas Harris said, "India is expected to grow faster than China over the next couple of years and will be a $30-trillion economy by 2030, India is going to be the third-largest economy in the world after the US and China. It has a young, energetic and vibrant business environment. UK companies should look at India to expand their business. Standard Chartered Bank has been in India for 152 years, but we are still learning how to do business in this dynamic market." PwC India, which employs 6,000 people currently, is looking to expand its Indian operations and plans substantial investment over the next three years. Mukesh Rajani, Partner and Head of India Business Group, PwC UK said, "India is an important market for us and PwC's footprint in India is growing rapidly. India is a business imperative for all with significant opportunities for British Business across a wide range of sectors." UK retail company Tesco is successfully doing business in India. Lucy Neville-Rolfe CMG, Tesco Board Director for Corporate & Legal Affairs, said: 'We believe India is an extremely important market and is one in which we already have an established track of record of working. We employ more than 4,500 people at the Tesco Hindustan Service Centre which provides IT, financial and research services to the Tesco Group. Our sourcing from India is also growing year-on-year, with dedicated offices in Bangalore and Gurgaon, buying more than £215m worth of goods annually. And we are also developing our own cash-and-carry business in India with the first outlet planned to open in the next year.' Partnership agreements are a popular form of business model in India. Tesco has signed a franchise agreement with Trent, the retail arm of Tata. This gives their hypermarket chain, Star Bazaar, access to Tesco's retail expertise. UKIBC CEO Richard Heald concluded, "The thrust of the event is less on "Why India" and more on "How India". The focus will be on SME's which occupy so much of the economic activity. The UK has world class SME's across all business sectors. The participation of the larger UK companies and Indian industry will be directed towards interaction with SMEs - through a breakout session and one on one meetings - so as to identify practical opportunities to work successfully with UK and Indian partners in India." The UKIBC Summit will be an invaluable day of knowledge sharing and contact building for businesses of every size wanting to share in India's incredible growth story. It will features speeches and debates with keynote speakers and industry leaders, case studies and workshops, expert clinics, facilitated B2B meetings, market intelligence and incredible networking opportunities with potential partner companies, clients and agents. -Ends- Notes to the Editor For further information email press@ukibc.com or call 02075923045 About the Summit : UKIBC Annual Summit Your Route to Success: UK and India: Building a 21st Century Special Relationship will take place at Bridgewater Hall, Manchester on March 10th. For more information, please go to www.ukibc.com/summit UK India Business Council : UK India Business Council is the premier business-led organisation promoting bilateral trade and investment between the two countries. Our mission is to help UK companies get business in India. UKTI : UKTI is the government department that helps UK-based companies succed 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. http://www.ukibc.com/news_and_media/articles/ukibcmanchester.aspxMon, 13 Dec 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/ukibcmanchester.aspx UK India Business Council is holding a one day annual summit at the Bridgewater Hall in Manchester on March 10th 2011. The thrust of the event is less on "Why India" and more on "How India". The focus will be on SMEs, which occupy so much of the economic activity in the UK and in India. The UK has world class SMEs across all business sectors. The participation of the larger UK companies and Indian industry will be directed to interaction with SMEs - through breakout session and one on one meetings - so as to identify practical opportunities. By bringing together some 600 UK and Indian businesses under one roof to discuss what matters to them, the UKIBC Summit will help them do real business. Attendees will be major UK corporates as well as a significant number of SMEs from the economically powerful regions in England as well as in Scotland, Wales and Northern Ireland. We are expecting Indian industry, both from the UK and India, to attend. In all we expect some 600 delegates. This will be our third annual Summit. The location is different (the first time outside London), the scale is greater, and the focus is sharper. But the quality of political and business leader participation will remain as high as ever. Stephen Green, the incoming UK minister for Trade will be one of the headline speakers. We will announce other speakers very soon. Previous speakers have included the President of India, Lord Mandelson, Vittorio Calao, and Gerry Grimstone. http://www.ukibc.com/news_and_media/articles/ukibcsummit.aspxWed, 15 Sep 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/ukibcsummit.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.aspxThu, 29 Jul 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/ukibc_appoints_new_chief_executive.aspx The UKIBC is launching a new service tailor-made for SMEs: the UKIBC Online Sector Service . It will go live on July 1st. The online service will provide intelligence, events, reports, and create "communities" linking large and small companies around specific industry sectors. Online Sector Service benefits The Online Sector Service offers: Frequent news updates via the UKIBC website e.g. transactions, government announcements, press reports, etc. A quarterly report on each sector, featuring market trends, case studies of UK companies succeeding in India, profiles of leading Indian businesses, and business opportunities. Free access to UKIBC events in your particular sector. Free access to networking events with visiting Indian delegations. Discounted fees for UKIBC delegations in the particular sector. Exclusive access to UKIBC Online Business Forum for UK and Indian companies To register Download your registration form here (PDF) . Back to UKIBC newsletter, May 2011 http://www.ukibc.com/news_and_media/articles/110531-newservicehelpssmesenterindia.aspxThu, 16 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/110531-newservicehelpssmesenterindia.aspx Press Release London: 21 June 2011 Life sciences and healthcare companies across the UK are being urged to sign up to a brand new service to boost their export success to India - a country where biotech alone will be worth £6 billion by 2015. The new service launches on 1 July, and is being offered by the UK India Business Council (UKIBC), the business led organization backed by UK Trade & Investment (UKTI) to boost UK India bilateral trade. This service is targeted at companies, especially SMEs looking to enter India or are new to India. For a fee of just £35 per month UKIBC will provide intelligence, events, reports, and create "communities" linking large and small companies around new business opportunities in subsectors including medical equipment & technology, healthcare infrastructure, biotechnology, e-health, pharmaceuticals, training and R&D in India. Online, the members' life sciences and healthcare sector page will be regularly updated with new reports and analysis. The aim is to help UK firms understand the market, identify business opportunities and connect with potential partners. Sector members also get exclusive access to an online B2B hub to connect with Indian and UK businesses. Business Opportunities In the next quarter UKIBC will host events including a meeting at Greenwich University on 16 June and others with high profile business and ministerial delegations from India, including sector experts from India. Members will have the opportunity to meet with them and share their expertise and experience. They will get the chance to network and discuss potential opportunities with other businesses from the sector and gain access to incoming businesses from India. Plans are underway to take a delegation comprising mainly small and medium sized businesses to India in October to explore partnerships with Indian companies in the healthcare and medical technology sector. UK India Business Council CEO Richard Heald says, "I urge healthcare and pharmaceutical companies to focus on the huge opportunities existing in fast growing economies like India. Not only is India the tenth largest economy in the world and the fourth largest by purchasing power parity, but industrial growth is picking up, offering many UK firms the chance to export their way out of the downturn here. "The UKIBC's new sector subscription service can be a catalyst to helping our companies form partnerships with Indian business and Government. This can seem like a huge leap but businesses big and small around the world are finding fantastic opportunities in India every single day." UKIBC Corporate members are companies which are already established in India and play an active role in the UK-India business agenda. The Sector Members will be companies which are exploring the Indian market and can benefit from information and access to businesses successfully doing business there. Healthy growth Life sciences and healthcare in India are growing rapidly and, in recent months, subsectors in biotechnology, generic drug manufacture, building new hospitals and medical infrastructure, and medical devices have been booming. According to an Epsicom Business Intelligence report, private sector investment in Indian healthcare has been increasing since the mid 1980s with future increased demand coming from private sector hospitals. Apollo Hospitals Group, Fortis Healthcare and Max India have been building hospitals equipped to a very high standard and capable of undertaking complex procedures, while the best of India's private hospitals aim to attract an increasing number of health tourists - private patients from overseas who are able to take advantage of India's good healthcare services at relatively low prices. These hospital building programmes will provide significant opportunities to UK businesses, from planning and construction, through medical equipment supply, to service and training providers. Emerging opportunities There is opportunity for UK manufacturers of high quality products and, especially in the private health sector, for high tech equipment. Given that India has a very good manufacturing and IT base, there are also opportunities for UK companies to enter into collaborative manufacturing and technology development and transfer. The medical devices market is one of the key areas for potential collaboration for UK businesses to explore in India. The Indian biotech industry crossed the £1.8billion mark in 2010, witnessing a 23 per cent growth over the previous year and is expected to touch the £6 billion mark by 2015 on the back of emerging opportunities across various verticals, such as biopharma and agribiotechnology. The Indian government and industry are keen to boost R&D and actively promote start-ups. This is likely to provide significant opportunities for UK universities to undertake collaborative research programmes with Indian organisations and to set up links with education institutes to provide training courses in this area. The business challenge Despite the UK being the largest recipient of Indian inward investment into Europe, the UK's share of exports to the Indian market has fallen overall in the last five years. UKIBC believes that the new service will help UK companies export their way out of the current downturn. Few reported business opportunities: Merck and Wellcome Trust plan R&D centre in India MSD India, the fully owned subsidiary of US-based Merck & Co, is planning to set up a R&D centre in India in a joint venture with UK-based Wellcome Laboratories. The centre - MSD Wellcome Trust Hilleman Laboratories - will be a 50:50 joint venture with a total investment of $130 million (approximately £78 million) aimed at developing affordable vaccines for developing countries. "Pharmaceutical research is a long-term process and it's too early to make a comment on when the centre will be operational. It is in the preliminary stage. Currently, we are in the process of recruiting staff and scientists," said MSD India managing director K G Ananthakrishnan. Dr Reddy's expands Cambridge R&D Centre Indian pharma company, Dr Reddy's Laboratories has opened its newly expanded Chirotech Technology Centre, a purpose-built facility to house its laboratories and offices, at the Cambridge Science Park. "Being located in this historic university city and in one of the leading European centres for science and innovation makes it the ideal location to expand and develop our research, development and technology capabilities. The facility will be a centre of excellence for chemistry and reinforces our commitment to building a leading edge research organisation to meet the innovation needs of our customers," said GV Prasad, vice chairman and CEO of the company. Notes for Editors: UK India Business Council is the premier business-led organisation promoting bilateral trade and investment between the two countries. Our mission is to facilitate an increase in trade between the UK and India through business to business dialogue. It is backed by the UK government through UKTI (the government's trade and investment arm) to ensure that the business voice is heard by governments of both countries. http://www.ukibc.com/ Media Enquiries: For further information please contact Alan Wheele ++ 44 20 8579 6349 & alanwheele@aol.com, or Ishara Callan at the UKIBC ++ 44 207 592 3045 ishara.callan@ukibc.com http://www.ukibc.com/news_and_media/articles/110621-service-help-life-sciences-health.aspxTue, 21 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/110621-service-help-life-sciences-health.aspxBusiness Secretary Dr Vince Cable and Foreign Secretary William Hague, have launched a UK Trade & Investment campaign to encourage more British companies to export to Asia's high growth and emerging markets. As part of the campaign, UK Trade & Investment has joined forces with RBS to deliver a series of programmes that will demonstrate key business opportunities across 12 Asian markets to UK firms. Read more here http://www.ukibc.com/news_and_media/articles/111208_press_release_ukti.aspxThu, 08 Dec 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/111208_press_release_ukti.aspxLONDON:An important highlight of 2011 was the UKIBC Networking Summit, and I am delighted to inform you that we are returning to Manchester with the Summit this year on March 14th for what will be the biggest India business event of the year. Companies big and small including Tata Consultancy Services, Pearson, Pizza Express and Grant Instruments will be participating, with the TCS CEO N. Chandrasekaran making the keynote address. Summit 2011 was a huge success and Manchester proved to be a great host city. Many businesses - over 520 - from the North West and from across the whole UK took part, attracted by the quality of the speakers and of the networking. All wanted to know how they could get involved in the India growth story. On 14 March, we will build on the 2011 success. The theme of the Summit will be market entry and expansion strategies. Throughout the day - from the opening plenary, through the breakouts and the closing plenary, to the networking reception in the evening - experts will provide you with the information and contacts you need to enter or expand your business in India. It will not just be in the panel discussions that information is imparted. Throughout the day, there will be a strong emphasis on one to one advice in the "Meet the Experts" area and through networking in the exhibition space and the B2B Hub. The average Indian income will grow by 27 times over the next four decades. One way or another, India will have an impact on your business. Our Networking Summit is designed to ensure that this impact is positive, and I do hope that you will be able to join us this year. For more information about the event please click here . We are offering an early bird discount of 33%. Book your place here NOTES TO EDITOR About UK India Business Council (UKIBC) · UK India Business Council is the premier business-led organisation promoting bilateral trade and investment between the two countries. Our mission is to facilitate an increase in trade between the UK and India through business to business dialogue. · For more information please contact the UKIBC communications team at comms@ukibc.com or on 0207 592 3030 · UKIBC plays an influential role in creating and sustaining an environment in which free-trade and investment flourishes. Through the facilitation of partnerships, and with 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. Find out more at www.UKIBC.com http://www.ukibc.com/news_and_media/articles/120105_ukibc_summit.aspxThu, 05 Jan 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/120105_ukibc_summit.aspx London: UK's leading telecommunications company BT Group has joined the UK India Business Council as a Strategic Partner. With the eurozone in crisis, the UK Coalition Government has been highlighting the benefits for British companies to trade with high growth markets like India and China. India, a country with growth of around 7.8 per cent and projected to overtake China as the world's fastest growing economy by 2020 offers several opportunities to British companies, especially in the digital innovation and telecommunications sector. BT, which has had a long and fruitful presence in India, has established its commitment to the strengthening of UK India business ties by becoming a strategic partner with the UK India Business Council (UKIBC). Welcoming the BT as members, Richard Heald, UKIBC CEO said, "I am delighted that BT has agreed to join us. Their pre-eminent position within the UK Industry and their commitment to India means that they will make significant contribution to our agenda of increasing UK- India trade. They will be leading our digital innovation work stream and I am sure that our broad membership will benefit from their insights and interaction". Set up in 1995, BT India is one of the leading networked IT services providers to global and regional multinational companies in the Sub Continent. Headquartered in New Delhi, it has operations in six key cities across India: New Delhi NCR, Bangalore, Mumbai, Pune, Hyderabad and Chennai. Commenting on joining the UKIBC as a strategic partner, Clive Selley, CIO of BT Group, said, "I'm delighted to be joining the UK India Business Council Board and I'm looking forward to working with my colleagues on the Board to strengthen the business ties between the UK and India, which continue to grow in importance. I'm certain we can build on the extensive and exciting work that BT's already doing in the country." The Indian telecommunication sector is the third largest sector across the globe and the second largest among the emerging economies of Asia. India is also the world's second-largest mobile market and it offers tremendous opportunities to UK technology businesses. The digital innovation sector, including media, content and processors is set to grow significantly over the coming years as 4G and broadband is rolled out across India. One UK company, Augure, has already established its presence to provide 4G services in the states of Madhya Pradesh and Chhattisgarh. More UK companies can find such opportunities. Heald added, "The key current objective of the UKIBC's digital sector work stream is to achieve broad UK engagement at all levels with India's growing internet and device usage, which will generate a rapid expansion in digital content, media and entertainment, and e-commerce with the goal of enabling the UK's digital technology and semiconductor related businesses to win business in India. In such circumstances, BT joining us as Strategic Partner is most timely as their Innovate & Design divison will gives us access to its insights as well as its unique experiences as an in-house solution provider." To help British businesses find opportunities, the UKIBC is reinforcing its sector focus onto opportunities and entry strategies for all UK and Indian companies with the aim to increasing bilateral trade in line with Government objectives. The unrivalled wealth of India market entry experts is a key part of the service offered by the Council and is increased with the addition of the UK based operations of the globally influential BT Group. To find out more about the UKIBC's membership offering, visit www.ukibc.com For more information, please contact Press Office on 02075923045 or email Ishara.Callan@ukibc.com or Adam.Pollard@ukibc.com *ENDS* NOTES TO EDITOR About UK India Business Council (UKIBC) UK India Business Council is the premier business-led organisation promoting bilateral trade and investment between the two countries. Our mission is to facilitate an increase in trade between the UK and India through business to business dialogue. UKIBC plays an influential role in creating and sustaining an environment in which free-trade and investment flourishes. Through the facilitation of partnerships, and with 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. About BT Group BT is one of the world's leading communications services companies, serving the needs of customers in the UK and in more than 170 countries worldwide. Headquartered in New Delhi, BT It is one of the leading networked IT services providers to global and regional multinational companies in India. BT operates a customer innovation showcase in New Delhi, providing various demonstration pods for customers to experience BT's solutions and propositions. In 2009, BT opened its first Asia Pacific Security Operations Centre (SOC) in Noida, India. BT also led a consortium of 22 industry and academic partners in establishing the India - UK Advanced Technology Centre in 2008. Indian Telecom Sector The telecommunication sector in India is the third largest sector across the globe and the second largest among the emerging economies of Asia. It is one of the fastest growing sectors in the Indian economy during the past four years and has witnessed strong competition. The sale of mobile devices in India will show of rise of 8.5 per cent in 2012 by growing up to 231 million units from 213 million units last year, according to a research report from Gartner. This rapid growth has been possible due to various proactive and positive decisions of the Government and contribution of both the public and the private sector. UK Telecoms and IT sector The UK is a leader in the adoption and consumption of innovative communications services, infrastructure and equipment. By 2012 £1 in every £5 of all new commerce in the UK will be online and new technologies are converging to transform industry structures and user behaviour. The ICT sector is one of the largest wealth creators in the UK. It has been one of the fastest growing sectors over the last decade. Moreover the effective uptake and implementation of ICT is vital for every sector within the UK.http://www.ukibc.com/news_and_media/articles/120307btgroupjoinstheukindiabusinesscounci.aspxWed, 07 Mar 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/120307btgroupjoinstheukindiabusinesscounci.aspx  PA Consulting Group, specialist in management and IT consulting, technology and innovation has joined the UK India Business Council as a Strategic Partner. With the eurozone in crisis, the UK Coalition Government has been highlighting the benefits for British companies to trade with high growth markets like India and China. India, a country with growth of around 7.8 per cent and projected to overtake China as the world's fastest growing economy by 2020, offers multiple opportunities to British companies. PA Consulting Group is a firm of over 2,000 people. Their work in several areas of technology is particularly innovative and relevant to India and to the UKIBC work streams on healthcare and innovation. PA, which has operations in India has established its commitment to the strengthening of UK India business ties by becoming a strategic partner with the UK India Business Council (UKIBC). Read the full release here http://www.ukibc.com/news_and_media/articles/120401_pa_consulting.aspxThu, 03 May 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/120401_pa_consulting.aspx Leading British and Indian companies including Tata, Star TV, Reliance, Hero, Rolls Royce, Arup to participate in the Summit The city of Manchester will host the UK's largest ever India focused business conference on the 10th March at Bridgewater Hall. Over 500 businesses across the UK and India are expected to attend the conference organised by the UK India Business Council (UKIBC), the business led organization backed by Government set up to boost UK India bilateral trade. The conference comes off the back of Prime Minister David Cameron's July visit to India that underlined the importance of the UK India business relationship to the recently formed coalition Government. The UKIBC CEO Richard Heald is visiting Manchester Science and Innovation Parks, meeting local businesses, informing them of India opportunity and inviting them to the Summit. He said, there are particular opportunities for Manchester firms to invest in India's media and life sciences industries. The UK India Business Council particularly believes that the rise of Manchester's digital commerce scene, exemplified by the establishment of its own online hub 'Manchester Digital', can find opportunities in India's IT industry which is worth over £30 billion. Fuelled by rising income levels among the world's largest young population, the entertainment and media sector is also expanding rapidly, and will be worth £15 billion by 2014. This is an obvious and lucrative market for UK technology businesses with smart IP. Some businesses in Manchester are already leading the way. HMG Paints, headquartered in Manchester, joined Indian partner Titan in June 2008 to create Titan HMG Paints India Limited. They created a new manufacturing facility in Coimbatore and now sell their paints across India. Whilst Renold Plc, a Manchester based engineering group, has formed a joint venture leading to a factory as well as sales, marketing and design office in the Indian state of Tamil Nadu. They now sell mechanical power transmission parts to Indian industrial plants, food processing, amusement parks, timber, cement, marine and mass transit companies. India's entertainment and media sector will be worth $15bn by 2014and its IT industry is already worth $30bn. Heald said: "India has grown hugely on an economic and demographic basis. What we are seeing is that the population is getting younger. They've got higher levels of consumer spending. This generation is focusing on media and entertainment. Over 500m people have handsets now. Some 150m households have cable TV. That means more than 600m people have access to cable TV out of a population of 1.2bn and growing. That's a huge potential market. In the area of innovation, you could export your knowledge and expertise as well as "eco-systems" in the area of digital media where much change is expected in India. The Indian digital media and entertainment sector is transitioning from analogue to digital. The UK has successfully done this and can offer advice and the benefits of experience in this area. The major players in the market at the moment such as Tata Sky and STAR India are all looking at how they can position themselves to take advantage of that change. Speakers at the summit include Uday Shankar, chief executive of television channel STAR India. Mr Heald said: "He's coming specifically because he wants to sit down and talk to the people and companies in the North West who are operating in the media environment." "The UKIBC is here to show North West businesses the practical steps they need to take in order to start forming partnerships with Indian business and Government. It can seem like a huge leap but small businesses around the world are finding fantastic opportunities in India every single day." The conference, which is being attended by Tata, Reliance, Hero group, BAE, Rolls Royce, A4e, Arup, Balfour Beattie, and the Wellcome Trust will focus on six key sectors: infrastructure, skills & education, retail, logistics & supply chain, technology, life sciences, and advanced engineering & manufacturing. It will provide: • Workshops giving practical help on issues ranging from collaboration at the R&D level and accessing each other's markets to jointly participating in the global value chain of digital media technology • Networking opportunities with potential Indian Business partners and UK businesses that already have expertise in the Indian market. • Brand new market intelligence on the best opportunities. Manchester businesses that wish to book their place at the summit need to visit www.ukibc.com/summit Notes for Editors: 1. UKIBC is led by business, with a board and members drawn from all sectors and from the largest firms to the newest start-ups. It is backed by the UK government through UKTI (the government's trade and investment arm) and ensure that the business voice is heard by governments of both countries. http://www.ukibc.com/ 2. To interview speakers, UKIBC CEO or for media registration email press@ukibc.com or call Ishara Callan or Lewis Brown 02075923045 3. UK-India bilateral trade stands at $14.6 billion, behind Germany, Switzerland and Belgium. http://www.ukibc.com/news_and_media/articles/manchestersummitupdate.aspxTue, 22 Feb 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/manchestersummitupdate.aspx The Finance Minister has presented a robust Budget which focuses on fiscal consolidation and at the same time provides marginal relief to individual and corporate tax payers. The Finance Minister also spoke about refocusing subsidies through direct transfers and improving governance through more transparent and result oriented economic management system. However, there were number of areas which were not addressed by the budget 2011. The complete set of Budget Analysis by the PwC team has been uploaded onto our website. Please click on the hyperlink below to access and download our pre budget expectations, the budget booklet and presentations. You can also access the archive link to our webcast from the website. http://www.pwc.com/in/en/publications/India-Budget-2011.jhtml We trust you will find them useful. Regards PwC Budget Analysis Team PwC India has been named as the Tax Firm of the Year 2010; second year in a row by the International Tax Review http://www.ukibc.com/news_and_media/articles/pwcbudgetwebcast.aspxThu, 03 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/pwcbudgetwebcast.aspx Speech by Richard Heald, UKIBC CEO, at the Association of Colleges International Conference. To read, click here http://www.ukibc.com/news_and_media/articles/rhspeechmay12.aspxThu, 12 May 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/rhspeechmay12.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.aspxSun, 25 Oct 2009 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.aspxTue, 27 Oct 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/2009_10_27.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, 18 Jan 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/2010_01_18.aspx By Richard Heald The Competition Commission of India (CCI) notified last week, the regulations for mergers and acquisitions that require corporate houses to seek its approval before going in for high-value deals. These regulations will come into force from June 1, 2011. The regulations have been framed with the assistance of the EU and UK Takeover authorities with the result that there are marked similarities between the regulatory regimes in the West. The underlying rationale for the regulations and for the creation of the CCI, the oversight body, is also laudable and necessary. However, it is the lack of clarity as to the practical application of these regulations that is raising concern, both domestically and internationally. It has been noted that such approvals are sometimes diverted. Precedent is not encouraging either. The on-going situations involving Vodafone and Cairn continue to give concern to the broad business community. The BP- Reliance deal is evolving. I would like to stress on the importance of application of these regulations. Mergers and Acquisition (M&A) and the application of connected regulations is a valid entry strategy for companies into India in certain circumstances. And so, uncertainties and impediments to freer flows of capital will inhibit India to capture its full potential. It is encouraging that the CCI has listened to the comments from the business community and has acted on them. In practice we will have to wait and watch. Briefing on new regulations Herbert Smith (André Pretorius) has produced a briefing on the new regulations, which is available by clicking on the following web link: http://www.herbertsmith.com/uploads/HSpdfs/IndianMergerControl_FinalRegulationsProvideGreaterClarity_v2.html Back to UKIBC Newsletter May 2011 http://www.ukibc.com/news_and_media/articles/110531-maynewslettercompetitioncommission.aspxTue, 31 May 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/110531-maynewslettercompetitioncommission.aspx By Richard Heald Much comment has been given to the recent elections in West Bengal, Tamil Nadu, Kerala and Assam. Interesting though these are, in India, the focus now is on how the government can leverage these to restart their agenda, particularly in the forthcoming period, until the middle of June. India's economy grew by just 7.8 per cent in the fourth quarter ending March this year - giving rise to fears of a slowdown in the economy. This decline is mainly due to poor performance of the manufacturing sector and compares to 9.4 per cent growth in the same three-month period of the previous fiscal. However, economic growth, as measured by the Gross Domestic Product (GDP), improved to 8.5 per cent in 2010-11 from 8 per cent in 2009-10 due to better farm output, construction activities and financial services performance. While, India's economy is still posting relatively robust growth, second only to neighbouring China's among major economies, and its domestic demand continues to grow on the back of rising income, economists and government officials have recently revised downward their expectations for the GDP in the current financial year. The reasons cited for this include rising crude oil and other commodity prices, and doubts about economic recovery in developed nations. As such, the political will and hence, the economy needs a new impetus. There is a general assumption that the election results have given the UPA coalition and the Congress Party the opportunity to introduce measures to stimulate the economy, ink the EU - India FTA and address key issues such as infrastructure, retail and services. At the same time, there is a wide spread expectation that the PM will use this period to re-shuffle the Cabinet in a more decisive fashion than in January of this year. Plus he also has to replace six secretaries of key ministries in June, including the all-important Cabinet Secretary and Finance Secretary. The aggressiveness with which he moves will define the coalition UPA Government's remaining tenure. But will he? The precedent is not good. Moreover, the Congress Party was not a clear winner in the recent election round. Mamata Banerjee's win in West Bengal has strengthened the Coalition but not necessarily the Congress. The Congress has not benefitted from the ejection of the scandal hit DMK in Tamil Nadu unless the Congress can form a new alliance with the victorious AIADMK. In Kerala, the Congress won a small majority but this is scant reward to the significant commitment made by the Party in the State. And in Assam, the win was due to the popularity and efficiency of the State Chief Minister rather than a vote of confidence in the Centre. Finally, there is an increasing danger that Congress's focus will start to slip to next year's elections in Uttar Pradesh which have already started for all practical purposes. Prime Minister Manmohan Singh will have until mid-June to make his announcement - before the Monsoon Session of Parliament commences. The most persuasive argument for him being bold is that he will wish to protect his legacy as the Finance Minister who heralded in the new era of Indian prosperity and who then presided over its consolidation as Prime Minister. But do these domestic arguments matter to UK business? The answer is "yes". Interest from overseas companies is predicated on measures to ensure continuation of a vibrant internal economy and as well as a further relaxation in certain FDI limits. This period gives the UPA government an opportunity to make announcements on the outstanding issues concerning Vodafone, Cairn-Vedanta and Reliance-BP; any one of which will have a significant impact on the international perception of India as a business friendly environment. India remains a land of opportunity. India's continued rise is inexorable. It is the rate of growth which can be accelerated by further liberalisation but as was told to me just yesterday, "we Indians never fix the roof when the sun is shining". Perhaps the current headwinds will just prove the catalyst for inspired decision making. Back to UKIBC newsletter, May 2011 http://www.ukibc.com/news_and_media/articles/110531-maynewsletterindiaelectionsandbeyond.aspxTue, 31 May 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/110531-maynewsletterindiaelectionsandbeyond.aspx Press Release London: 23 June 2011 Infrastructure companies across the UK are being urged to sign up to a brand new service to boost their export success to India - a country investing £600 billion in the sector. The new service launches on 1 July, is being offered by the UK India Business Council (UKIBC), the business led organization backed by UK Trade & Investment (UKTI) to boost UK India bilateral trade. This service is targeted at companies, especially SMEs looking to enter India or are new to India. For a fee of just £35 per month, UKIBC will provide intelligence, events, reports, and create "communities" linking large and small companies around opportunities presented by India's planned £600 billion investment in infrastructure, from roads and ports to water and urban transport projects. Included are frequent news updates on transactions, government announcements and press reports; a quarterly infrastructure sector report, featuring market trends, case studies of UK companies succeeding in India, profiles of leading Indian businesses and business opportunities. Sector members will also get exclusive access to online B2B hub where they can connect with Indian and UK businesses. Business Opportunities Members will have access to UKIBC infrastructure events including an urban regeneration seminar and panel discussion in London focusing on the opportunities in the water and urban transport sectors with participation from some of the UK's leading engineering consultants and business advisors, with whom they can network. There will be further networking opportunities with visiting Indian delegations and access to an online business forum for UK and Indian companies. UKIBC also plans to take a delegation to India later in the year to explore the opportunities for SMEs with niche expertise in aspects of urban regeneration. UK India Business Council CEO Richard Heald says, "I urge infrastructure companies to focus on the huge opportunities existing in fast growing economies like India. Not only is India the tenth largest economy in the world and the fourth largest by purchasing power parity, but industrial growth is picking up, offering many UK firms the chance to export their way out of the downturn here. "The UKIBC's new sector subscription service can be a catalyst to helping our companies form partnerships with Indian business and Government. This can seem like a huge leap but businesses big and small around the world are finding fantastic opportunities in India every single day." UKIBC Corporate members are companies which are already established in India and play an active role in the UK-India business agenda. The Sector Members will be companies which are exploring the Indian market and can benefit from information and access to businesses successfully doing business in India. Infrastructure growth India's rapidly expanding cities put huge demands on all aspects of infrastructure. The country's urban population is expected to reach 590 million by 2030. Services such as water supply, sewerage, solid waste management and urban transportation are expected to benefit from the biggest investment after roads. The UK has learnt from the revitalisation of our aging inner cities and has a global reputation as a source of world-class expertise and capability in the design and construction of infrastructure. Given the demands that rapid urbanisation places on infrastructure, this embedded knowledge can usefully be shared, particularly with India's expanding Tier II & Tier III cities. Many UK companies are already actively involved in building India's urban infrastructure such as Arup, Benoy, Mott MacDonald, Halcrow and John McAslan, to name a few. Emerging opportunities An urban regeneration panel discussion will be held on 14 July at the offices of Herbert Smith in London. Speakers will include some of the UK's leading civil engineers and business advisors, with firsthand experience of working in India, who will share valuable insights and practical tips. The water sector has many challenges (as detailed in a recent PwC report "Bringing water to your doorstep - Urban Water Reforms for the next decade") but there are opportunities for SMEs, particularly for companies with niche products and services. For example, Tantia Constructions Ltd, a Kolkata Based company, is seeking alliances with companies in the water and sewerage sectors who have experience of turnkey installations for medium to large scale treatment plants, and with a range of technologies to offer. The UK has the strength across sectors and, combined with its low carbon construction expertise, can bring the knowhow, technology and business models necessary to achieve sustainable development. The business challenge Despite the UK being the largest recipient of Indian inward investment into Europe, the UK's share of exports to the Indian market has fallen overall in the last five years. UKIBC believes that the new service will help UK companies export their way out of the current downturn. UKIBC programme: British India Roads Group (BIRG) powers forward Following the successful BIRG / National Highways Authority of India (NHAI) workshop in New Delhi and the signing of the roads agreement between the two governments for greater collaboration in the road sector, BIRG is keen to meet Dr C P Joshi, Minister of Road Transport and Highway (MoRTH) at the earliest opportunity. Senior Ministry and NHAI officials have previously expressed an interest in the role of the independent operator and how roads are procured in the UK, so the focus will be on these areas. BIRG has had very positive discussions with MoRTH and NHAI officials over the last eighteen months on how the National Highways Development Programme could attract greater participation from UK infrastructure companies and financial institutions. Not only has the dialogue gone in the right direction, it has also brought UK and Indian business leaders together and closer to decision makers. A reported business opportunity Vedanta mines rich seam of India links London-listed mining firm Vedanta has acquired an 11% stake from Petronas International Corporation via the bulk deal route. On April 19, 2011, the Indian listed arm of Vedanta - Sesa Goa - purchased 200 million equity shares (or about 10.47%) at a price of INR 331 each. In August 2010, Vedanta had struck a deal with UK-based Cairn Energy to acquire a 51% stake in domestically listed Cairn India at INR 405 per share including a non-compete fee of INR 50 per share. As per that deal, Cairn Energy, which holds 62% in Cairn India, will sell 51% to THL Aluminium, a wholly owned subsidiary of Vedanta, while another 20% will be bought through an open offer. Sesa Goa will make the open offer, costing USD 3 bn, at INR 355 per share. Cairn Energy will have a residual interest in Cairn India of 10.6 - 21.6%. Notes for Editors: UK India Business Council is the premier business-led organisation promoting bilateral trade and investment between the two countries. Our mission is to facilitate an increase in trade between the UK and India through business to business dialogue. It is backed by the UK government through UKTI (the government's trade and investment arm) to ensure that the business voice is heard by governments of both countries. http://www.ukibc.com/ Media Enquiries: For further information please contact Alan Wheeler + 44 20 8579 6349 & alanwheele@aol.com or Ishara Callan at the UKIBC + 44 207 592 3045 & ishara.callan@ukibc.com http://www.ukibc.com/news_and_media/articles/110623-service-helps-infrastructucture-export.aspxThu, 23 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/110623-service-helps-infrastructucture-export.aspxLondon, 14/07/2011 UKIBC Member Chris Parsons is 50 this year! To mark that historic and unavoidable occasion, he's aiming to raise a quarter of a million dollars for one of the Loomba Foundation's core programmes: educating the children of poor widows in India. To date he's raised US$149,962.11 A partner with international law firm Herbert Smith and chair of its India Group, Chris is well aware of the plight faced by millions of poor widows and their children. He hopes his birthday resolution can make a significant difference to the lives of many sufferers. Chris and his friends Duncan Ross, Bill Roden and Kim Darton will set off on their bikes from London to Portsmouth on 5 September 2011. There they will board the ferry to St. Malo, from where they will continue their journey all the way down France, across the Pyrenees and the whole length of Spain. When they finally reach their destination, they will have completed no less than 2,500 kilometres. Sponsor Chris and help the cause on the Loomba Foundation's website http://www.ukibc.com/news_and_media/articles/110714-sponsor-chris-parsons.aspxThu, 14 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/110714-sponsor-chris-parsons.aspx London: UK's leading education provider Pearson has joined the UK India Business Council as a Strategic Partner. With UK economic growth sluggish, the UK coalition Government has been highlighting the benefits for British companies to trade with high growth markets. Perhaps the most exciting of these markets is India, a country with growth of around 8 per cent and projected to overtake China as the world's fastest growing economy by 2020. Pearson has established its commitment to the strengthening of UK India business ties by becoming a strategic partner with the UK India Business Council (UKIBC). Pearson, the world's leading education company, providing educational materials, technologies, assessments and related services to teachers and students of all ages is increasing its footprint in India. Earlier this year, Pearson bought 59 percent of Indian online tutoring firm TutorVista. UKIBC CEO Richard Heald welcomed Pearson saying "I am delighted that Pearson has agreed to join us. Their commitment to India in education and skills sector as well as their pre-eminent position within the UK Industry means that they will make significant contribution to our agenda and I am sure that our broad membership will benefit from their insights and interaction". Commenting on being a Strategic Partner, Rod Smith, Managing Director Edexcel International said, "I am delighted to be joining the UK India Business Council Executive Board. I am looking forward to working closely with my colleagues on the Board to strengthen the increasingly important business relationships between UK and India and building on the extensive and exciting work we're already doing in the country through our businesses there." Currently, five per cent of Indians aged 19-24 formally learn a trade. However, the necessity to improve vocational education and training to reap the demographic dividend of a young population is recognised at the highest levels of government, the business community and civil society. India is exploring ways to train 500 million people by 2020; both in blue collar and white collar jobs, across urban and rural India. To support India achieve this target, the UK India Business Council signed an MoU with Centum Learning Limited, a Bharti Associate company, last year, The objective is to deliver aspects of Centum's Joint Venture with the National Skills Development Corporation (NSDC). The initiative seeks to train over 12 million individuals over a 10 year period, in 383 districts of India. It is estimated that the project will require 3500 skill instructors, with 200,000 to be trained in the above mentioned sectors. The UKIBC run UK India Skills Forum (UKSIF), a collective umbrella for the UK skills and vocational training providers of all types from basic "blue-collar" trainers to higher end skills providers such as engineering etc, is open to UKIBC sector members. Heald added, "The UKISF is a one stop shop for UK skills providers. It has pioneered a consortia-based approach to the Indian market. In this way, we are able to mobilize an entity which can meet the requirements of large scale skills projects which are necessary if India is to achieve its goal of training 500 million people by 2020. The UK has an internationally recognised competitive advantage in skills provision. The shared history, language and culture between the two countries should mean that the UK is regarded as the partner of choice to drive forward the skills agenda in India. It will not only help India in increasing its productivity but will help address the social, economic disparity in terms of region, gender, etc." The UKIBC is re-inforcing its sector focus onto opportunities and entry strategies for all UK and Indian companies with the aim to increasing bilateral trade in line with Government objectives. The unrivalled wealth of India market entry experts is a key part of the service offered by the Council and is increased with the addition of the UK based operations of the globally influential Pearson. To find out more about the UKIBC's membership offering, visit http://www.ukibc.com For more information email ishara.callan@ukibc.com or call 02075923045 ENDS Notes to Editor About UK India Business Council (UKIBC) UK India Business Council is the premier business-led organisation promoting bilateral trade and investment between the two countries. Our mission is to facilitate an increase in trade between the UK and India through business to business dialogue. UKIBC plays an influential role in creating and sustaining an environment in which free-trade and investment flourishes. Through the facilitation of partnerships, and with 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. About Pearson Pearson is the world's leading education company. From pre-school to high school, early learning to professional certification, our curriculum materials, multimedia learning tools and testing programmes help to educate more than 100 million people worldwide - more than any other private enterprise. http://www.ukibc.com/news_and_media/articles/110928-pearson-strategic-partner.aspxWed, 28 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/110928-pearson-strategic-partner.aspxNew Delhi, India, December 7, 2011 - Salwan Media Private Limited, a media company focused on education, consumer and business information, today announces that it is partnering with US India Business Council (USIBC) and Knowledge@Wharton to host its first annual flagship educational conference 'One Globe 2012 - Uniting Knowledge Communities' on 3rd and 4th February 2012 in New Delhi, India. Read the full release here http://www.ukibc.com/news_and_media/articles/111208_press_release_one_globe.aspxThu, 08 Dec 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/111208_press_release_one_globe.aspx Dear Reader, The third UKIBC Annual Summit, held in Manchester, was a huge success. The UKIBC chose Manchester as the host city to encourage more companies, especially SMEs, from outside London and the South East England, to be part of the Indian growth story. Therefore, we were delighted to see a good mix of firms across a range of sectors at this event. Over 586 delegates attended the event. A CII delegation and some 30 organisations, including trade bodies from the UK and India supported us. There were lively discussions and networking between companies and business leaders. Participation in one-to-one meetings was a big hit. Delegates also received free advice from industry experts. Over the next 12 months, we intend to strengthen our existing services and roll out new information and business services aimed at raising awareness. We also plan to enhance B2B dialogue and create business communities around our primary sectors. You will get access to the post-event communiqué, the delegate list, summit video clip and photographs at http://www.ukibc.com/summit/10thmarch.html Yours sincerely Richard Heald Chief Executive | UK India Business Council http://www.ukibc.com/news_and_media/articles/marchnewsletterforeward.aspxThu, 31 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/marchnewsletterforeward.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.aspxFri, 06 Aug 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/now_hiring_new_chairman_for__tata_group.aspxPrime Minister David Cameron has hosted the first meeting of the UK-India CEO Forum at Downing Street, to discuss how best to improve trade between the two countries. Read more http://www.ukibc.com/news_and_media/articles/pmukindiaceoforum.aspxFri, 04 Feb 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/pmukindiaceoforum.aspxA talk, Q&A and networking event hosted by the UKIBC's Next Generation Network featuring Malcolm Lane from TCS. Date: 20th April 2011 Time: TBC (Evening) Location: Offices of Stephenson Harwood, London For more information contact Tara Panjwani on tara.panjwani@ukibc.com or 0207 592 3040. http://www.ukibc.com/news_and_media/articles/tcsconversation.aspxMon, 21 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/tcsconversation.aspxUKIBC Member, Weston Williamson, who joined us in July 2010, won our summer offer competition to win a return flight to India through our preferred carrier, British Airways. Weston Williamson is a UK based Architecture Firm, their architecture and urban design is influenced strongly by thinking through the materials and details at an early state. Their projects include the Jubilee Line Station at London Bridge and they are currently working on exciting transport projects, urban design, residential and mixed-use projects in the UK and overseas.http://www.ukibc.com/news_and_media/articles/ukibcbaww.aspxMon, 31 Jan 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/ukibcbaww.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.aspxWed, 28 Jul 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/kevin_foreword_august.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, 12 Jul 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/letter_from_the_pm.aspx Report of the UKIBC's Agribusiness and Supply Chain Logistics Delegation to New Delhi and Chandigarh from 29th November - 4th December 2010 The UKIBC Agribusiness and Supply Chain Logistics delegation to New Delhi and Chandigarh was a great success. Led by the UKIBC Chair the Rt Hon Patricia Hewitt and Lord Gulam Noon, Chairman of Noon Foods, it comprised of delegates from various retail and logistics companies in the UK, including Hull University's Institute of Logistics, British Agrifood Consortium, International Agri-technology Centre and the Aleef Retail Group. The UKIBC Agribusiness and Supply Chain Logistics delegation to New Delhi and Chandigarh was a great success. Led by the UKIBC Chair the Rt Hon Patricia Hewitt and Lord Gulam Noon, Chairman of Noon Foods, it comprised of delegates from various retail and logistics companies in the UK, including Hull University's Institute of Logistics, British Agrifood Consortium, International Agri-technology Centre and the Aleef Retail Group. The delegation programme included site visits to retail malls, kirana stores, modern grocery stores and dairy farms, as well as ministerial calls with the Ministry of Food Processing, APEDA, and the Punjab and Haryana government authorities. Delegates had the opportunity to participate in the CII's Agro Tech 2010 where the UKIBC, UKTI and Hull and Humber Chamber of Commerce had set up a UK pavilion to facilitate B2B meetings and networking. The delegation was particularly successful in that it opened up a dialogue on the skills and training aspects of the agribusiness and supply chain logistics sector. Significant upstream opportunities emerged for UK companies with expertise in strategy development, operations and logistics management, and skills training. During meetings with the Chief Secretary of Punjab and the Chief Minister of Haryana, it was suggested that MoUs be signed with the Governments of Punjab and Haryana respectively to mobilise a consortia of UK skills providers to ascertain the skills requirements of local industry in areas such as animal husbandry, dairy management, healthcare, logistics, warehousing, food processing, cold chains, IT, security and tourism. This will lead to the delivery of a complete training package including English language training, employability/soft skills training and the setting up of a permanent vocational skills institute. The ambitious goal is to sign these MoUs at the JETCO bilateral. Delegates came away with a much clearer idea of the numerous opportunities for partnership in this sector as well as the support available by the Indian authorities, UKTI and the UKIBC. Follow Up Actions New Delhi • The Ministry of Food Processing is to provide us with details of Indian private sector requirements. This information to be incorporated into the food supply chain report being prepared by Andrew Morgan and Jeff Rees. In addition, this information is to be bundled into a document to be circulated to businesses illustrating the opportunity to attract potential OMIS customers. • UKIBC and UKTI to host 'interactions' with UK businesses when APEDA bring Indian delegations to the UK. APEDA to join the UK India Retail Forum. • CILT India represented by Dr Goel to list the top 10 skills needs and suggest which Indian organisations/institutions in India might be delivery partners in India. These needs to be then mapped to UK skills providers, and a plan of action to be agreed along with the UKISF to take the work forward in time for JETCO. • CILT India members to be invited to join the UKIBC retail/logistics LinkedIn group. • A formal (MOU) partnership between the UKIBC, CILT (both UK and India) and the IATC to pull together the agri experts and supply chain experts to strengthen the links formed during this visit. • CILT India are keen to visit the UK (especially Hull) so UKTI to bid for an inward mission, with UKIBC, Hull and Humber Chamber of Commerce and others supporting in the UK. • CILT to set up an Information Cell to facilitate knowledge sharing for supply chain companies in the UK and India. Chandigarh • MOUs with the Punjab and Haryana governments to be drafted to address skills gaps in the agribusiness and supply chain logistics sector. The MOUs need to focus on mapping labour market opportunities globally, curriculum development plans and a complete training package including English language training and soft skills and the setting up of a permanent vocational skills institute. http://www.ukibc.com/news_and_media/articles/agribusinessdelegation.aspxWed, 15 Dec 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/agribusinessdelegation.aspx I am pleased to inform you that our Annual Summit preparations are in full swing. We have good support from the Manchester Chamber of Commerce, CBI, IoD and the CII to make this a headlining India business-focused event of 2011. The Summit will focus on key six sectors that have been indentified following the PM's visit to India, last July. We hope you can take part in it. For further details please visit, www.ukibc.com/summit In this newsletter, we are sharing the news of our recent Technology sector event where an Indian inward delegation met the UK clusters and companies. We have also highlighted the recommendations and feedback by the outward agribusiness delegation that was led by the UKIBC Chair Patricia Hewitt and Lord Gulam Noon. Wishing you a Merry Christmas and a Happy New Year Yours Sincerely, Richard Heald http://www.ukibc.com/news_and_media/articles/dec2010.aspxMon, 20 Dec 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/dec2010.aspx By Nripesh Kumar Whilst the need for greater infrastructure investment is clear, equally important is the need to sustainably manage such investments. The Indian Government's success in infrastructure provision will be measured not by the quantum of funds invested, but on how infrastructure contributes to the achievement of India's economic, social and environmental objectives. Importantly, infrastructure investment should be considered as a means to an end, not an end in itself. Challenges in infrastructure provision are not unique to India. Uncertainty, scarcity of available funds for investment and competing priorities present challenges to all governments in infrastructure planning and delivery. Sustainability requires that future generations are not compromised by the investment decisions of current generations. Sustainably managing infrastructure through the appropriate pricing, funding and prioritisation frameworks is important to ensure the benefits that accrue from the significant investment that India is currently making in key social and economic infrastructure are maximised. E&C companies looking to bid on major projects need to ensure that they are taking a holistic approach which incorporates sustainability issues into the design of the project, both in the planning and the delivery stages. Those that do so have a unique opportunity to make a major difference in a growing economy while enhancing their own bottom line. Concluding thoughts Although it may not always be easy to navigate the plethora of views, opinions and perceptions expressed by various local stakeholders, a vast opportunity exists for foreign contracting companies looking to invest in Indian infrastructure. Already, a number of contractors from Europe, Australia, China, Malaysia and Korea have made their presence felt in India. Further, many E&C companies, particularly from Japan, Spain, France and the UK are also now aggressively looking out for opportunities to enter India for business. Overall, the opportunities to develop a significant business in India are extremely promising for E&C companies, if they have carefully selected strong local partners, structured contracts sensibly to maximise tax benefits where appropriate, and taken a long-term, sustainable perspective. Foreign companies who do not acknowledge the opportunity in good time may miss out on a critical opportunity to establish a long-term presence in one of the world's largest growth markets. PwC expertise in the E&C industry in India PwC has extensive experience of working with E&C companies in India and has a dedicated group of professionals advising clients in the industry. The infrastructure team works closely with our Real Estate, PPP & Government practices. Our knowledge management programme focuses on the building of close networks and the sharing of information and expertise. Our assignments in all regions of the subcontinent have included both private and public sector clients. Key contacts for PwC Engineering & Construction in India: India Infrastructure Specialist: Nripesh Kumar nripesh.kumar@uk.pwc.com +44 (0) 020 780 46184 International Tax Structuring: Raj Julleekeea raj.julleekeea@uk.pwc.com +44 (0)1895 522 398 To download the full document, click here http://www.ukibc.com/news_and_media/articles/pwcnewsletterbuildingsustain.aspxWed, 01 Dec 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/pwcnewsletterbuildingsustain.aspx By Nripesh Kumar Without doubt, there is huge opportunity in the Indian infrastructure space in the short and medium terms at least. The policies of the Indian Government, which have been evolving very rapidly in recent years, continue to encourage the private sector in taking on a larger and more diverse role - from being an infrastructure builder (under a publicly financed arrangement) to an infrastructure developer (under PPP structures which include private finance). These developments have led to a large number of infrastructure projects open up as opportunities for the private sector. Considering the liberal FDI guidelines, these lucrative projects present both an opportunity and a threat to local players. In many cases, foreign players are believed to have greater technological expertise and more experience compared to domestic companies. These advantages could mean overseas companies winning work at the expense of local players, or partnering with them. Domestic E&C companies may therefore look at foreign entrants in the market as tough competitors - or as strong potential partners. Domestic production of equipment and machinery is ramping up fast, but in the short term, a foreign partner may be able to help fill in any gaps. There are many factors that influence the role of the local players vis-à-vis foreign players - for example, the criteria used for the selection of developers is an important influencer on what role the foreign players will take. Risk-sharing on a PPP project also needs to be carefully considered. The revenues of most infrastructure projects in India will be denominated in the local currency. Foreign players will need to consider the currency and tax issues already mentioned in some detail, particularly on a PPP project where significant private investment is also sought. International EPC contractors are already leading players in India. At the same time, many Indian companies have either scaled up their skill sets or extended their operations to overseas projects. India has a very well established infrastructure developer market. Local firms have evolved in recent times into fully-fledged national players (and in some cases international players). In certain sectors, such as highways, power and water, local firms also have significantly progressed on the technological front. Some India-based are very active in the international markets and thus, can no longer be deemed 'local' E&C companies. Indeed, they are global organisations based out of India. These and other large firms clearly look at foreign players as both partners and competitors. However, smaller and medium-sized infrastructure construction companies are often happy to partner with foreign players without necessarily considering them as competitors. The recent guidelines issued by the Indian Government for the selection of PPP developers have also led to a slightly distorted behaviour in the local marketplace. The guidelines favour larger players, even when the project investments and execution can be easily carried out by mid-sized companies. This has led to situations where many of the small/medium-sized local players are looking at partnering with the foreign players primarily for the purpose of getting qualified and winning the job, rather than to actually bring in investment or expertise. It is expected that such behaviour will soon change as the guidelines become more reflective of market dynamics and mid-sized Indian companies mature. Foreign players looking to enter into the Indian marketplace and team with local players need to evaluate carefully the cost competitiveness of their prospective participation. India has witnessed huge interest from a number of foreign infrastructure companies in the past, but not many have really been able to offer a cost-competitive proposal. Since India has evolved its own model of cost competitive delivery in many sectors (for example, in telecoms), local players have an incentive to work with foreign companies only if the partnering offers a competitive edge over other bidders. There have been few such success stories so far where the foreign player has offered a particularly cost-competitive product or service. In instances where we have seen the successful entry of foreign players (such as in the port sector), foreign companies have often been able to bring technology or management advantages or expanded their reach into international markets to supplement the capabilities of local partners. To download the full PDF, click here http://www.ukibc.com/news_and_media/articles/pwcnewsletterchallenges.aspxWed, 01 Dec 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/pwcnewsletterchallenges.aspx By Nripesh Kumar During 2009-2010, foreign exchange reserves increased by US$ 31.5 billion from US$ 252.0 billion at the end of March 2009 to US$ 283.5 billion at the end of January 2010, demonstrating that India is emerging as a preferred destination for foreign investors. Major infrastructure development requires a substantial influx of investment capital. The policies of the Indian Government seek to encourage investments in domestic infrastructure from both local and foreign private capital. According to the ATKearney 2010 FDI Confidence Index (a regular assessment of senior executive sentiment at the world's largest companies), India was rated the third most attractive location (after China & the US) for global FDI. Currently, India has FDI of about US$35 billion per year which is the target set by the government for 2009, having in previous years fallen short of targets due to the economic downturn. In order to increase FDI inflows further, particularly with a view to catalysing investment and enhancing infrastructure, the Indian Government has introduced significant policy reforms such as. • It now permits 100% FDI under the automatic route for a broad range of sectors where only certain post-investment intimation is required. These include Greenfield airports, construction & maintenance of infrastructure like ports, harbours, roads and highways, power generation, transmission and distribution and power trading, mass rapid transport systems, townships, housing, built-up infrastructure and construction-development projects. • Prior approval is still required for FDI in a few sectors such as existing airports and atomic minerals but this would typically take 6-8 weeks. • The Indian Government continues to simplify the approval route process, including setting up several agencies to expedite FDI approval. From an exchange control perspective, India is moving towards full current account convertibility. Most revenue transactions are freely permitted, except certain transactions like royalty, consultancy fees which are subject to certain limits. Capital account transactions need prior approval, except where specifically permitted. In order to promote the construction sector, the Indian Government has relaxed some of the exchange control restrictions and is now allowing foreign nationals/citizens to acquire immovable property in India, subject to certain conditions and procedures. To encourage funding to the infrastructure sector, the Reserve Bank of India has introduced a new category of Non Banking Financial Company ('NBFC') as Infrastructure Finance Company ('IFCs'). An NBFC, to qualify as IFC, is required to fulfill certain criteria with respect to minimum total assets deployed in infrastructure loans, minimum net owned funds of INR 300 crores, minimum credit rating, capital adequacy ratio etc. The prudent norms on credit concentration, applicable to an IFC, are less stringent and also, low risk exposures and higher lending limits granted to the banks financing such IFCs, gives flexibility to tap funds from banking institutions for on lending to the infrastructure sector. Further, amongst NBFCs only IFCs can avail External Commercial Borrowings ('ECBs') for on-lending under the automatic route. Hurdles to investment remain. Although India has a well-developed legal system, the current legal and regulatory environment sometimes acts as an obstacle to the necessary injections of foreign private capital into India's infrastructure. Major infrastructure projects are governed by the concession agreements signed between public authorities and private entities. Tariff determination and the setting of performance standards vary somewhat by sector. In the roads and highways sector, the ministry generally sets tolls, whereas in major ports projects, and many of those in electricity generation, an independent regulator will decide relevant tariffs. In the airport sector, a new independent regulator, Airports Economic Regulatory Authority, has been set up which is likely to play a major role in determining tariffs in concession agreements for the segment. In some instances, ministry or regulator control over potential proceeds can act as a disincentive to the private infrastructure developer. As is the case in many countries, there is no single regulator which formulates the policy for all infrastructure projects. There is also no standardisation in the concession agreements across the different infrastructure sectors. As a result, the development of certain sectors in India may be hampered due to lack of adequate and co-ordinated planning. Projects which are approved may face difficulties if related projects are substantially delayed. A summary of FDI for key infrastructure sectors: Mass Rapid Transport System FDI up to 100% is allowed under the automatic route in mass rapid transport systems, including associated commercial development of real estate, in all metropolitan cities. Ports and Harbours Up to 100% FDI is allowed through the automatic route for leasing of existing assets of ports, construction and maintenance of assets, leasing of equipment for port handling and leasing of floating crafts and captive facilities for port based industries. Power FDI up to 100% is permitted in the power sector under the automatic route for projects relating to the generation, transmission, distribution and trading of power, other than the generation, transmission and distribution of electricity in atomic reactor power plants. Industrial Parks FDI up to 100% is permitted under the automatic route subject to fulfilment of prescribed conditions. Transport and Transport Support Services 100% FDI is permitted under the automatic route for: • Pipeline transport, ocean and water transport, inland water transport; • Transport support services. Urban and Rural Infrastructure 100% FDI is permitted under the automatic route in construction and maintenance of: • Roads, rail-beds, bridges, tunnels, pipelines, ropeways, runways, waterways and water reservoirs, hydroelectric projects, power plants and industrial plants; • Roads and highways offered on a Built, Own and Transfer (BOT) basis including collection of toll; • Rural drinking water supply projects, package water treatment plants, rain and rain water harvesting structures, waste-water recycling and re-use techniques and facilities, rain-water re-charging and re-use techniques of ground water. Public Private Partnerships Funding India's wide-ranging, US$1 trillion programme of infrastructure expansion over this five-year period is likely to be beyond the means of total government funding, so policies have been designed to facilitate private investment to the maximum level possible. If the Indian Government's targeted level of private sector involvement and investment are met (approximately 30%), the quantum of funding required would be around US$300 billion - dwarfing the investment achieved over the past decade by comparison. Achieving this level of investment is ambitious. Several frameworks and plans are already in place, however, that may facilitate reaching these goals. The PPP/PFI market in India is still at a relatively early stage. However, over the past decade or so, there has been an increasing trend at the central as well as state government level to use PPPs for meeting critical infrastructure gaps. The results have been quite encouraging. Establishing a PPP is now considered to be the default option for major infrastructure projects in sectors such as roads, railways, airports, ports and other transport segments. First preference will be given to the PPP model, and only in cases where projects are expected to fail to attract private sector interest will more traditional models be considered. India has become an attractive PPP market and its attractiveness is likely to increase in the future. Contractors able to negotiate and partner with the relevant ministries should find excellent opportunities, particularly companies with a longer-term view. To download the full PDF, click here http://www.ukibc.com/news_and_media/articles/pwcnewsletterfdi.aspxWed, 01 Dec 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/pwcnewsletterfdi.aspx By Mukesh Rajani The world experienced a deep recession for most of 2009-2010. Despite this, however, India was able to post an impressive GDP growth rate of 7.4% for 2010, an increase on the 6.7% seen in the previous year. Over the span of a year the Indian economy was able to recover from the slowdown in financial inflows, giving an optimistic picture of the country's economic future in the medium to long term. The most significant contribution to the growth rate came from the manufacturing sector, which had a 10.8% growth rate. Construction is the second largest economic activity in India after agriculture, and has been growing rapidly. The production of industrial machinery has also been on the rise - and the increasing flow of goods has spurred increases in rail, road and port traffic, necessitating further infrastructure improvements. PwC's UK Macroeconomic team estimate India's GDP growth to be 8.7% for 2010 with forecasts of 8.4% and 8.5% for 2011 and 2012 respectively. As the Indian economy is still expanding significantly, substantial investment in infrastructure continues to be required in order to sustain India's economic progress. The country's capacity to absorb and benefit from new technology and industries depends on the availability, quality and efficiency of more basic forms of infrastructure including energy, water and land transportation. In some areas, roads, rail lines, ports and airports are already operating at capacity, so expansion is a necessary prerequisite to further economic growth. The Indian Government recognises this imperative - the Eleventh Five Year Plan sets out that more than US$500 billion worth of investment is planned to flow into India's infrastructure by 2012. Construction projects account for a substantial portion of the proposed investments, making the Engineering & Construction (E&C) sector one of the biggest beneficiaries of the infrastructure boom in India. The regulatory environment is relaxing to encourage further foreign direct investment (FDI). Private sector participation is integral to these plans. PPPs have been identified as the most suitable mode for the implementation of projects - and indeed, are rapidly becoming the funding norm. Their share of the total planned infrastructure improvements is projected to be around 30% (US$150 billion). Power and road projects top the list, and other transportation sectors such as railways, ports, and airports are also targeted for major investments. Companies looking to capitalise on the situation need to plan their strategy for entering the market carefully. Understanding the local market, including selecting complementary local partners, is vital. Tax optimisation is a key cost component - while substantial tax benefits are provided for infrastructure projects, developers need to be savvy about structuring their contracts. Good tax planning can have a potentially decisive impact, especially in bidding situations, and help to avoid unnecessary litigation later. To download the full PDF, click here http://www.ukibc.com/news_and_media/articles/pwcnewsletterintroduction.aspxWed, 01 Dec 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/pwcnewsletterintroduction.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/news/03_06_2010_b.aspxThu, 03 Jun 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/03_06_2010_b.aspx NEW DELHI: The world's cheapest tablet computer, which will be unwrapped on Wednesday, will go on sale in India starting December, the maker of the device has said. Created for use by students, the tablet will first be made available to colleges at Rs 1,750 apiece ($35). A Canadian of Indian descent, Suneet Singh Tuli, the chief executive of the company making the device, declined to disclose its retail price, but said it will cost as much as "a vegetarian meal for two at a five-star hotel in Delhi". Tuli is the founder of Datawind, a UK-based company which also makes the PocketSurfer, a handheld device to surf the web. "We wanted to show the world when China can break price points, India can do it better," Tuli said… To read the full article click here http://www.ukibc.com/news_and_media/news/0410tablet.aspxTue, 04 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/0410tablet.aspx 'New era' dawns for UK Universities on an international stage New research from international law firm Eversheds, released today, reports a surge in UK higher education institutions (HEIs) exploring overseas partnerships, with India and China topping the table of global targets. Kingfisher Airlines posts loss of Rs.419 crore Private carrier Kingfisher Airlines has posted a net loss of Rs.419 crore for the quarter ended Sep 30 as compared to a loss of Rs.483 crore reported during the like period last year. Standard Chartered looks at listing in India through IDRs. If the proposal goes through, the bank will become the first foreign entity to raise capital via this route in India. UK-based bank Standard Chartered Plc may become the first foreign entity to list in India, giving local investors the opportunity to invest in an overseas firm."The bank is actively considering a listing of its shares in India via an issue of Indian Depository Receipts (IDRs) in order to grow brand presence and its business in this key market," Peter Sands, group chief executive, said on Thursday in a statement. "We are working with the Indian authorities and a decision on timing will be taken in due course." . Microsoft's Rich Media Rocks: Opportunities in rich media Microsoft Advertising's annual 'Rich Media Rocks' workshop was held in Mumbai recently. Speakers at the workshop included Microsoft's Neville Taraporewalla, Hemant Sachdev and Salil Kumar, Eyeblaster's Dean Donaldson, BBH India's Partha Sinha, Mindshare's Madan Sanglikar and Millward Brown's Bhomik Chandna. Cobra Beer Plans To Infuse GBP4.5m In Indian Business Cobra Beer is planning to infuse GBP4.5m in its Indian business. The British arm of the company entered into pre-pack administration in May with debts of approximately GBP70m, owing to the sale of 50.1% of the company's shares to Molson Coors, a Canadian company. Cobra is now trying to raise finance to complete the purchase of a brewery in India and to develop the brand. Avanta gets the X-Factor Avanta's business centre now has the X-Factor following the creation of the new £5million pedestrian crossing at London's Oxford Circus junction. More than 32,000 people every hour pass through the junction of Oxford Street and Regent Street and the new crossing, opened on Monday by London Mayor, Boris Johnson, is based on the equally crowded Shibuya crossing in Tokyo. http://www.ukibc.com/news_and_media/news/04112009.aspxWed, 04 Nov 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/04112009.aspx Forgemasters lands major Indian deal 8th April 2009 India's biggest state-owned power equipment manufacturer Bharat Heavy Electricals Ltd (Bhel) has signed a ten-year technology transfer agreement with the UK-based Sheffield Forgemasters International Ltd. TCS bags $80 mn contract from UK's CMEC 8th April 2009 India's biggest software exporter TCS has won a $80-million outsourcing contract from UK's Child Maintenance and Enforcement Commission (CMEC), the first in a series of almost $2-3 billion worth of contracts to be awarded by the UK's state-owned departments. UK-based SMEs undergo training at IIM-A 7th April 2009 In a bid to study the dynamics of the Indian market before setting up their businesses here, UK-based small and medium enterprises (SMEs) have come down to the Indian Institute of Management, Ahmedabad (IIM-A) for a training programme. This is probably for the first time that any foreign SME units are being trained at the institute. UK work permit: Court rules in favour of Indian law students 7th April 2009 A judgement by the UK Employment Appellate Tribunal, that could affect thousands of young people who want to work and study in the UK, has decided UK law firms who don't accept job applications from non-EEA residents can be deemed as racially discriminating. Leeds announces launch of India campus 7th April 2009 The Leeds Metropolitan University of the United Kingdom on Tuesday announced the launch of its India campus in partnership with JSWS, a non-profit organisation. Leeds Met India, set up in Bhopal, will begin its maiden academic session from September with a batch of 160 students and promises to charge only 30 per cent of the fee at its UK campus. It will offer undergraduate courses in business management, retail marketing, international hospitality management and event management. The course fee for a three-year undergraduate course will cost nearly Rs 8.5 lakh, whereas it costs Rs 40-45 lakh on its UK campus. "We want to deliver affordable, quality education. 30 per cent of the faculty will come from the UK campus," said Stephen Parkinson, pro-vice chancellor, Leeds Metropolitan University. Leeds Met India is, however, is awaiting All India Council For Technical Education (AICTE) approval and hopes to get it before the commencement of the academic session. It will be a residential campus with all modern facilities to enhance the learning experience. Jaguar Land-Rover to get EIB loan of £270m 6th April 2009 Jaguar Land-Rover, the struggling motor group that has been seeking government assistance and has recently put its workforce on a four-day week, looks to set to receive a European bailout package that it hopes will safeguard as many as 14,500 jobs in the UK. DHL sharpens focus on India-UK trade lane 1st April 2009 DHL, the global leader in express and logistics, has announced the launch of its weekly direct less than container load (LCL) consol service connecting Chennai to Felixstowe, UK. UKIBC EVENT The UK India Business Council and the All Party Parliamentary Group (APPG) on Communications, are holding a seminar on 21st April at 1600-1800 on the subject of Trends and Opportunities in ICT in India, at the House of Commons. OVERVIEW The information technology industry has transformed the way the world looks at India. The success of its IT industry has placed India at the forefront of the global knowledge economy. According to the National Association of Software and Services Companies (NASSCOM), the apex body for software services in India, the revenue of the IT sector has grown from 1.2% of gross GDP in 1998 to an estimated 5.5% in FY 2008. India's IT growth is primarily dominated by IT software and services such as Custom Application Development and Maintenance (CADM), System Integration, IT Consulting, Application Management, Infrastructure Management Services, Software Testing, Service-orientated Architecture and Web Services. The Indian Government expects the exports turnover to touch US $80 billion by 2011, growing at an annual rate of 30% per annum, from the earlier few million dollars worth of exports in the early 1990s. India's burgeoning opportunity for investment and partnership is of great value to UK PLC ISSUES FOR DISCUSSION • What are the opportunities/key developments in the technology and communications industry in India? • What are the implications of India's sustained growth for UK Plc? • How can UK Plc nest take advantage of the opportunities and reduce the risks? • How can Government best support UK PLC's growth within the Indian market? Confirmed speakers are: Chair: Derek Wyatt, MP • Professor Gerrard Parr, University of Ulster • Mr Hardeep Garewal, President, Global Strategic Accounts, ICTInfotech • Mr AS Lakshminarayanan, VP and Country Manager - UK and Ireland • Mr Was Rahman, UKTI ICT Sector Advisor • Ms Sharon Bamford, Chief Executive Officer, UKIBC To attend, please RSVP Carolina.Ribera@ukibc.com http://www.ukibc.com/news_and_media/news/08042009.aspxWed, 08 Apr 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/08042009.aspx Indian M&A remains resilient despite 41% value drop (January 2009) http://www.redhotcurry.com/images/business/inab/anuj_chande2_xl.jpgThe total value of Indian mergers & acquisitions including private equity deals in 2008 amounted to US$41.54 billion, compared to US$70.14 billion in 2007 and US$28.16 billion in 2006, according to India Watch, the quarterly review by the leading business and financial adviser Grant Thornton. The UK has been the largest target country for India's outbound M&A activity receiving a total investment value in excess of US$6.6 billion. "Despite a decline in values between 2007 and 2008, the total value of M&A deals including private equity deals has increased by 47.5% since 2006, maintaining the positive compound annual growth rate of M&A and PE in India," says Anuj Chande, Head of Grant Thornton's South Asia Group. "Further to this, 2008 saw some landmark deals and also witnessed more billion dollar M&A deals than in 2007." "In 2009, we see some encouraging prospects for Indian companies, which have generally remained cash rich," says Chande, who points out that these may benefit from a drop in valuation levels across the globe." "I expect to see an increase in takeovers of UK targets by Indian companies when valuations drop further as the recession bites in the UK," says Chande, adding that Indian corporates were particularly keen on acquiring well-known British brands. The largest outbound deal was Oil & Natural Gas Corp Videsh Ltd's acquisition of UK-based Imperial Energy Plc for approximately US$2.8 billion, followed by the Jaguar Land Rover acquisition by Tata Motors of US$2.36 billion. "Cross-border deals made up the lion's share in Indian M&A even though their total value was 47% lower then in 2007," says Chande. In 2008, the total value of inbound deals was US$12.55 billion, as international companies acquired stakes in 86 Indian businesses. That compares to US$15.50 billion in 2007 and US$5.4 billion in 2006. The largest of these was the Japanese-based pharmaceutical company Daiichi Sankyo's step acquisition of a 60.63% stake in Indian-based pharmaceutical company Ranbaxy for a total value of US$4.5 billion. Another notable transaction was Japanese mobile operator NTT Docomo Inc.'s acquisition of a 26% stake in Tata Teleservices Ltd for US$2.70 billion. Over the same period, the total value of outbound deals reached US$13.19 billion, comprising 196 deals involving Indian companies acquiring businesses outside India. Indian companies continue to outperform AIM listed firms (February 2009) Indian companies listed on the London Stock Exchange (LSE) continue to outperform both the AIM 100 and AIM all-share despite the tough economic climate according to India Watch, a quarterly review by the leading business and financial adviser Grant Thornton. India Watch tracks the collective performance of Indian listings on the London markets and gives an update on the Indian economy. Its latest figures indicate that the Indian Index has outperformed the AIM 100 and the AIM all-share by 22% and 23% respectively since 1 January 2007. In Q4 2008, Elephant Capital Plc, Eredene Capital Plc and Evolvence India Holdings Plc outperformed the AIM all-share with a comparatively modest drop in their share prices (closing at -2.6%, -4.9% and -10.1% respectively). Having been the top performers of the last 12 months, Elephant Capital ended the year with a market capitalisation of £47.75 million, Eredene Capital's was £35.49 million, while Evolvence India Holdings boasted a market capitalisation of £49.4 million. "These results are increasingly positive given the current economic backdrop. Indian companies are not merely generating economic growth; they are also proving to be companies that are well-worth investing in, and are clearly starting to take on some of the world's leading companies," says Anuj Chande, Head of Grant Thornton's South Asia Group. Fiona Owen, a Partner at Grant Thornton who heads South Asia Group Capital Markets, adds: "It is not all doom and gloom on the stock market, there are quite a few notable encouraging trends as well. The prices of food and oil have fallen, inflation continues to decline towards comfortable levels and interest rates have softened. Factors such as these may serve to provide the necessary support in 2009, making the overall outlook more positive for Indian companies." IPOs of Indian firms still to pick up Despite the positive signs, London saw no new initial public offerings (IPO) issued by Indian companies in the quarter to December 2008. Therefore AIM-listed KSK Emerging India Energy Fund (KEF) continued to be the largest IPO by an Indian firm on a British exchange in 2008, raising US$200 million in June. Grant Thornton UK LLP acted as nominated adviser. "There is a backlog of more than 25 Indian firms waiting to float in London when the market picks up," says Owen, who thinks some may list later this year or in early 2010. Owen adds that these are seeking to raise between $50 million and $500 million and come from a range of sectors including Infrastructure, infrastructure services, media, technology, manufacturing, pharmaceuticals and telecommunications http://www.ukibc.com/news_and_media/news/10022009.aspxTue, 10 Feb 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/10022009.aspx Kingfisher to raise $600 m, mostly to pay off debt Kingfisher Airlines is planning to raise around $600 million worth of funds in the current financial year to pay off its debt and strengthen its bottom line. The move comes amid uncertainty over the future development of the country's aviation industry. India could herald global IPO recovery India, along with other emerging BRIC markets such as China and Brazil, are expected to lead the recovery in the global IPO markets by the end of 2009, a survey by global consultancy firm Ernst & Young says. According to the Ernst & Young Institutional Investor IPO survey 2009 IPOs in these emerging markets would show recovery from the economic downturn by the year-end. Of the over 300 institutional investors surveyed, as much as 57% believed India and Brazil are the most likely to lead the recovery. For many developed markets like the UK, Australia and Germany (all 57%) and Canada (62%) investors believed domestic IPO markets would start to recover between first quarter of 2010 and second quarter of 2011. Microsoft India seeing good response to Windows 7 The Indian unit of Microsoft (MSFT.O) is seeing a good early response to Windows 7, its recently launched operating system, its chairman said on Monday. Jersey delegation heads to India A delegation from Jersey is traveling to India later this month to promote the benefits of doing business there. During the five day trip, the delegation will host a number of high level meetings and receptions between government officials, regulators and trade organizations in an attempt to strengthen commercial and governmental ties with India. Geoff Cook, chief executive of Jersey Finance Limited, says: "We intend to advise on the recent independent endorsement Jersey has obtained regarding the high standards of our regulatory regime and offer a technical summary of the jurisdiction's breadth of expertise and how this is relevant to the Indian market." RR Ghost - Who will ride the Ghost? Rolls-Royce thinks India will be a good market for its new luxury car, the Ghost Rolls-Royce Motor Cars Asia Pacific Director, Colin Kelly compares his company's recently launched the Ghost model to a sports jacket and the Phantom to a Tuxedo. The Ghost, a smaller car, has similar design characteristics to its predecessor, with the same hand-crafted interiors and grill. But where the family of Phantom costs around £500,000, the 16-inch smaller Ghost's on road price is significantly lesser at around £315,000. That's nearly a third less than the Phantom. "We wanted something less formal and pretentious and more everyday," says Kelly. http://www.ukibc.com/news_and_media/news/10112009.aspxTue, 10 Nov 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/10112009.aspx UK defence industry eyes business deals Economic Times - Gurgaon,Haryana,India BANGALORE: The UK defence industry is upping its ante at the forthcoming Aero India 2009 eyeing business opportunities in the various purchase programmes of the Indian armed forces. StanChart plans to hire 500 Sify - Chennai,Tamil Nadu,India Hyderabad: Standard Chartered Bank is planning to hire about 500 this year in various roles. The bank has no plans to retrench or downsize its workforce to beat the impact of the slowdown. Report: Glaxo in talks to buy Indian generic maker The Associated Press NEW YORK (AP) - .K. drug developer GlaxoSmithKline PLC is reportedly in talks to buy Indian generic drug developer Piramal Healthcare Ltd. for about $1.5 billion. Late Friday, the Wall Street Journal reported that people familiar with the potential deal said the companies are at an early stage of talks. GlaxoSmithKline said it would not comment, and Piramal could not be reached for comment. India - still an outsourcing haven? Legal Week - London,UK India's outsourcing sector comprises both business process and IT outsourcing, and it has been growing at an annual rate of about 37% over the last few years. Scots to forge educational ties Times of India - India KOLKATA: A team of delegates from eight Scottish colleges are in the city to promote Indo-Scottish educational ties in eastern India. UK minister for Scottish affairs, Ann McKechin, is also in the city to assure co-operation from the government for exchanges and other collaborative projects. Norton Rose targets India for recruitment Published: 23/10/2008 00:00 Norton Rose has expanded its trainee recruitment drive to include students from Indian colleges. The initiative is part of plans to overhaul the firm's recruitment process in an effort to diversify the trainees it brings in. The top 10 City firm is looking to recruit up to five Indian trainees for the 2010 intake. Norton Rose wanted to provide the students with the same experience as English qualified lawyers. Business vies with glitz at IPL auction BBC News When the Indian Premier League (IPL) had its first auction last year, the likes of Bollywood stars Shahrukh Khan and Preity Zinta inspired excitement and lavish spending on favourite players. The glitz could still be found this time round, with the latest IPL stakeholder, actress and UK Celebrity Big Brother winner Shilpa Shetty, among the throng. http://www.ukibc.com/news_and_media/news/11022009.aspxWed, 11 Feb 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/11022009.aspx LONDON: The unstoppable Indian Premier League (IPL) cricket team, Rajasthan Royals, has recruited design and digital agency, CHOCOLATE, as its creative partner in a major deal that will see CHOCOLATE build the Rajasthan Royals brand in the run up to the IPL season, which starts in under two weeks, and beyond. CHOCOLATE will be managing the Rajasthan Royals' entire online presence, as well as developing a unique photographic style for the Twenty20 team. It is also busy redeveloping the front end of its website, and will begin design and digital work for the brand at the end of the summer. The IPL is a hugely popular event in the world's sporting calendar, bringing together cricket's global super-elite. The second highest paid league in the world behind the NBA, it attracts crowds consistently in excess of 58,000, and in 2010 became the first ever sporting event to be broadcast live on YouTube. The Rajasthan Royals are an inaugural member of the IPL, and the team is co-owned by Bollywood megastar, Shilpa Shetty. Captained and coached by Aussie cricketing legend, Shane Warne, the team is privileged to call two stadiums, the Sawai Mansingh Stadium in Jaipur, and the Sardar Patel Gujarat Stadium in Ahmedabad, its home grounds. Photolink's founder and CEO, David Walter, is proud to reinforce his company's roots in the country in which he and Photolink MD Jayne Riley have worked hard to cultivate a presence: "Cricket has done wonders to strengthen the links between the UK and India. Rajasthan Royals is a fantastic brand to be associated with, and we are thrilled to be working on such an exciting project. As a relatively new agency in India, although well established in the UK, we're intending to blend our UK-evolved marketing expertise with the local market knowledge of India to create a unique identity for the team that both the Rajasthan Royals and India can be proud of." Raghu Iyer, the Rajasthan Royals' marketing director, expands: "We are absolutely delighted to be embarking on a creative relationship with Photolink in the UK and CHOCOLATE in India. We definitely see the long term benefits of forging a sustainable partnership with one of India's most respected branding and marketing groups. We have the utmost faith in CHOCOLATE's professionalism, expertise and creativity." Rajasthan Royals' CEO, Sean Morris, believes the partnership will improve the team's global brand and its online presence: "We are looking to build on our inherently Indian roots, and to expand our Indian fan base," he says. "Through this, we also hope to give the team a more global image, attracting even more attention to the game and the IPL." ENDS For more information please contact: Holly Harvey: Chocolate, +91 (0) 9920427551, holly.harvey@chocolatedesign.in NOTES TO EDITORS Chocolate Chocolate is part of UK based agency, Photolink Creative Group. Photolink is the largest independently owned creative agency in the UK. Chocolate is the strategic design arm in India. We focus on branding, design and digital in the Indian market. Chocolate provides branding solutions that differentiate. It operates across the entire gamut of both conceptual idea generation expressed through brand identity, architecture articulation as well in executions through design, digital creation, corporate/brand collateral design, packaging, etc. Although advertising is not a focus area Chocolate also has the capability to deliver advertising execution. We have a small team headed by Creative Adviser, Mr. Mohammed Khan, the founder of Contract, Rediffusion and Enterprise, Advertising agencies. Our Clients in the design and digital space, both in the UK and India, include: Anand Automotive Limited Argos Bvlgari Chelsea Football Club Croma Dunhill Everton Jet and Helicopter John Lewis Kitbag National Centre For Performing Arts (NCPA) Manchester United Mehli Mehta Music Foundation Quintessentially River Island http://www.ukibc.com/news_and_media/news/110415rajastanroyalstastechocolate.aspxFri, 15 Apr 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110415rajastanroyalstastechocolate.aspx Mumbai: The combined desk-based and mobile PC market in India grew by 6.2 per cent to nearly 2.6 million units in the first quarter of calendar 2011, according to a report from research firm Gartner. "This growth was primarily driven by the mobile PC market which grew 23 per cent in the first quarter of 2011," said Mr Vishal Tripathi, principal research analyst at Gartner. "There was a slump in consumer demand in the first quarter, so the market did not grow as expected. Enterprise and small and mid-size business (SMB) buying helped the market achieve growth in the quarter. Government buying also contributed, as it was the last quarter of the financial year," he added. Full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110518-indianpcmarketgrowsinq1.aspxWed, 18 May 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110518-indianpcmarketgrowsinq1.aspx NEW DELHI --India's proposed $11 billion infrastructure debt fund is expected to be launched within the next few months and within the current regulatory framework. "Regulators are working very hard and they are trying to see that they don't upset existing regulations and still try to come out with the infrastructure debt fund," said R. Gopalan, India's economic affairs secretary. Under current regulations, Indian pension and insurance companies cannot invest directly in infrastructure projects, limiting a crucial source of funding. In the current five-year plan that runs to March 31, 2012, such funds are likely to contribute less than 7% to total investment in projects. Read the full article on Wall Street Journal's website http://www.ukibc.com/news_and_media/news/110527-indiainfrafundwithincurrentpolicy.aspxThu, 26 May 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110527-indiainfrafundwithincurrentpolicy.aspx London: Organised retail in India is still at a nascent stage but there are significant business opportunities for the taking, given that the sector is so heavily under-penetrated. Recognising the potential, several international retailers have already forayed into the Indian market and have adopted tailored strategies to build their presence. There is a strong case for other players to follow suit by adopting a long term view and exploring alternative options for a presence in what is one of the most important developing consumer markets in the world. Download the full report (PDF, 1.2MB) http://www.ukibc.com/news_and_media/news/110527ernstyoungreportonindiaretail.aspxFri, 27 May 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110527ernstyoungreportonindiaretail.aspx New Delhi : India's growth will pick up in 2011, buoyed by positive corporate sentiment and demand for infrastructure spending, according to the Organisation for Economic Cooperation & Development (OECD), an inter-governmental think-tank. OECD mentioned that India's current growth rate is moving at a sustainable rate, after the global recession, driven by a surge in private investment. OECD also recommended liberalisation of foreign direct investment in the retail sector to promote competition and help modernise supply chains, which will boost the economy further. Read the full article on IBEF's website http://www.ukibc.com/news_and_media/news/110527indiasgrowthtorisein2011.aspxThu, 26 May 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110527indiasgrowthtorisein2011.aspx New Delhi: Confirming fears of a slowdown, India's economy grew by just 7.8 per cent in the fourth quarter ending March this year, mainly due to poor performance of the manufacturing sector, as against 9.4 per cent in the same three-month period of the previous fiscal. However, economic growth, as measured by the Gross Domestic Product, improved to 8.5 per cent in 2010-11 from 8 per cent in 2009-10 due to better farm output and construction activities and financial services performance. Read the full article on Economic Times' website http://www.ukibc.com/news_and_media/news/110601-indiagdpgrows8p5pointsfy-2011.aspxWed, 01 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110601-indiagdpgrows8p5pointsfy-2011.aspx The World Bank has approved a $1 billion credit and loan for cleaning the river Ganga that accounts for one-fourth of India's water resources. A significant part of the Bank's support will go towards financing demonstrative investments for reducing pollution in a sustainable manner, in four key sectors: wastewater collection and treatment, industrial pollution control, solid waste management, and riverfront management, a statement said. The World Bank's National Ganga River Basin Project will help build the capacity of the NGRBA's new operational institutions to manage the Ganga clean-up and conservation programme. Read the full article on Financial Chronicle's website http://www.ukibc.com/news_and_media/news/110601-worldbankapproves1billioncleanganga.aspxWed, 01 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110601-worldbankapproves1billioncleanganga.aspx The Department for Industrial Policy and Promotion (DIPP) has proposed change in the government procurement policy that could lead to 100% FDI in a limited manner for the defence sector. CNBC-TV18's Rituparna Bhuyan reports. The DIPP has proposed that companies that are interested in participating in government bids will have to setup factories for manufacturing their equipments and machineries in India. The DIPP says 100% FDI will be allowed in such factories in infrastructure and defence sectors. Sources say DIPP has sent their proposal to a committee of secretaries for comments. Read the full article on MoneyControl.Com's website http://www.ukibc.com/news_and_media/news/110602-dippmootstotalfdiinfradef.aspxThu, 02 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110602-dippmootstotalfdiinfradef.aspx BANGALORE: Google India has launched Google global market finder, a free online tool for advertisers to find new markets overseas. The new tool, designed to help Indian businesses expand their business and reach out to customers in the international markets, will be available as part of Google Ads, the company said on Wednesday. Sridhar Seshadri, Head Online Sales, Google India told ET, "We have seen success with the adoption of our AdWords platform by Indian SMBs in the last two years in the domestic market. And with the launch of these new tools for export oriented businesses in India, we want to help Indian small and medium sized businesses to compete at a global stage." The Global Market Finder helps to identify new markets based on keyword searches originating from a region. Market Finder translates keywords into any one of 56 languages used in the selected region. It then ranks each location by opportunity based on factors like local search volume, suggested bid price, and competition for each translated keyword. Read the full article on Economic Times' website http://www.ukibc.com/news_and_media/news/110603-googlemarketfinderindia.aspxFri, 03 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110603-googlemarketfinderindia.aspx NEW DELHI: Despite regulatory hurdles, India continues to be among the preferred destinations for FDI due to the country's high economic growth, with both Mumbai and Delhi being touted as among the cities likely to produce the next Microsoft or Google , a survey said. According to the '9th Annual European Attractiveness Survey' by Ernst & Young , India will rank fifth among the most attractive destinations for European firms within the next three years, mainly on account of India's perceived specialisation as a hub for low cost outsourcing business. Read the full article on Economic Times' website http://www.ukibc.com/news_and_media/news/110606-indiaamongpreferredfdi.aspxMon, 06 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110606-indiaamongpreferredfdi.aspx MUMBAI: Businessmen turn affluent, but forecasting affluence is becoming a business. Kotak Wealth-Crisil joined the big league of Capgemini-Merrill Lynch, Northbridge Asia, Credit Suisse and Barclays Wealth in their own way, launching its first volume of "wealthy Indians" that forecast affluent individuals with assets of at least Rs 25 crore to triple by 2016 to 2,19,000. Their assets may grow five-fold to Rs 235 lakh crore, it said. Each institution sets its own definition of affluence, parametres and chooses its sample to conclude how the growth would pan out. But statisticians and economists that none of them are probably accurate, or closer to truth. "We live in a country which has a large shadow economy," says Maneesh Kumar, managing director at Burgeon Advisors , New Delhi. Read the full article on Economic Times' website http://www.ukibc.com/news_and_media/news/110608-indiahniwealthtogrow.aspxWed, 08 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110608-indiahniwealthtogrow.aspx MUMBAI: Businessmen turn affluent, but forecasting affluence is becoming a business. Kotak Wealth-Crisil joined the big league of Capgemini-Merrill Lynch, Northbridge Asia, Credit Suisse and Barclays Wealth in their own way, launching its first volume of "wealthy Indians" that forecast affluent individuals with assets of at least Rs 25 crore to triple by 2016 to 2,19,000. Their assets may grow five-fold to Rs 235 lakh crore, it said. Each institution sets its own definition of affluence, parametres and chooses its sample to conclude how the growth would pan out. But statisticians and economists that none of them are probably accurate, or closer to truth. "We live in a country which has a large shadow economy," says Maneesh Kumar, managing director at Burgeon Advisors , New Delhi. Read the full article on Economic Times' website http://www.ukibc.com/news_and_media/news/110608-indiahniwealthtogrow5-fold.aspxWed, 08 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110608-indiahniwealthtogrow5-fold.aspx MUMBAI: The Securities and Exchange Board of India (SEBI) is contemplating introducing a process audit - to be carried out by an independent auditor- of initial public offerings or IPOs. The auditor would examine the procedures followed by registrar & transfer agents responsible for processing applications and maintaining records of allotted shares during a public issue. As per the current practice, exchanges obtain and upload data provided by registrars. But there is no way of verifying whether due and uniform process has been followed in all the cases, such as whether discarded applications have been rejected by following the uniform policy. Currently, different registrars follow different processes during the execution of an IPO. Read the full article on DNA's website http://www.ukibc.com/news_and_media/news/110608-sebiplansindependauditoripos.aspxWed, 08 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110608-sebiplansindependauditoripos.aspx MUMBAI: Pearson Education India, the operating company of Pearson PLC that recently acquired a majority stake in online site TutorVista and tied up with Educomp Solutions, will buy or form alliances with providers of education in a bid to gain a 10% market share in India in two years. "We will grow [both] inorganically and organically in the Indian market, will continue to forge alliances and buy out companies wherever there [is synergy]," said Anish Srikrishna, chief marketing officer of Pearson Publishing India. Pearson Publishing owns the Financial Times newspaper, publisher Penguin and Pearson Education, has a compounded annual growth rate of more than 20% in higher education and school publishing. Read the full article on Wall Street Journal's website http://www.ukibc.com/news_and_media/news/110610-pearsoneducationseeks10percent.aspxFri, 10 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110610-pearsoneducationseeks10percent.aspx Kolkata : Patients admitted to intensive care units (ICU) at hospitals in smaller towns and villages might soon get a chance to avail of top-class healthcare technologies and receive treatment from specialists in metros. Philips Electronics India is set to come up with the country's first virtual ICU soon. The company, which plans to revolutionise the critical care segment, is already in talks with major multi-specialty tertiary care hospital groups to introduce a technology called eICU within a year. Read the full article on Business Standard's website http://www.ukibc.com/news_and_media/news/110613-philipstointroducevirtualicu.aspxMon, 13 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110613-philipstointroducevirtualicu.aspx New Delhi: India will move to open up the multi-brand retail sector and allow foreign direct investment (FDI) up to 51%, with at least half the funds invested in infrastructure such as cold storage, newspapers reported on Friday. Global retailers such as Wal-Mart Stores, Carrefour, Tesco and Metro AG have long sought greater access to a fast-growing but restrictive Indian retail sector that is dominated by mom-and-pop operators. An inter-ministerial group headed by Kaushik Basu, chief economic adviser in the finance ministry, has recommended allowing foreign direct investment in multi-brand retail to tame inflation and cut farm gate and retail price differences. Read the full article on Livemint's website http://www.ukibc.com/news_and_media/news/110614-govtfreesretailsectortofdi.aspxTue, 14 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110614-govtfreesretailsectortofdi.aspx Lucknow: India has an estimated 80 million Internet users, which is expected to reach 240 million by 2015, according to Nitin Mathur, Senior Director, Yahoo India. Further, Internet usage is increasing rapidly in non-metro cities, with more than 50 per cent of the new subscribers being added from tier-II towns. Senior Director, Yahoo India, Nitin Mathur said that the trend in internet usage is changing fast with metros which dominated the scene just a year back giving way to the non metro towns now. "Internet penetration is very low in India right now as compared to other nations. It would surely touch 24 crore by 2015 and given the size of India's population this too would not be enough. But we see more and more people using internet through mobile devices rather than PC's. Even right now of the 8 crore internet users more than 2.5 crore access it through mobile devices. As 3G enabled handsets become cheap mobile internet would be the next big thing in the country which would take penetration to the remote corners of the country" said Nitin Mathur. Read the full article on IBEF's website http://www.ukibc.com/news_and_media/news/110617-50pcnewinternetfromtier-ii.aspxFri, 17 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110617-50pcnewinternetfromtier-ii.aspx New Delhi: Innovation of new products and services has been rated by global CEOs as the optimal route to growth and is preferred over other means like mergers and acquisitions and joint ventures for increasing market share, says a survey. According to a study conducted by PricewaterhouseCoopers (PwC) among 1,200 CEOs from around the world, innovation -- along with increasing their existing business -- now outstrips all other ways for potential expansion, including moving into new markets, mergers and acquisitions, joint ventures and other alliances. The survey said that innovation is high on the executive agenda in virtually every industry. In all, 78 per cent of the CEOs surveyed believe innovation will generate 'significant' new revenue and cost reduction opportunities over the next three years. "Innovation is a matter of survival for companies in sectors facing rapid changes in technology and high customer expectations," PwC US Partner and Business Leader (Innovation and Strategy) John Sviokla said. Read the full article on Indian Express' website http://www.ukibc.com/news_and_media/news/110617-ceospitchinnovationgrowth.aspxFri, 17 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110617-ceospitchinnovationgrowth.aspx In an interview with the Partnership in Action magazine, Lord Green, UK Minister of State for Trade and Investment, discusses his new role and the UK's plans for India. 1. Congratulations. Can you please tell us about your new role? I was honoured when the Prime Minister asked me to become the Minister for Trade and Investment. He has said the Government wants the next decade to be the most entrepreneurial and dynamic in Britain's history, and both trade and investment will play a key part in ensuring future growth in our economy. This puts me in a uniquely challenging but exciting position. It means that a lot of my time is spent working with UK Trade & Investment (UKTI) in its important role of ensuring support and advice for UK companies keen to expand and develop their business both at home and overseas. UK companies have products and services which are in demand globally, but a high proportion of companies that could export are still not doing so. I want to change this, not least because these businesses could be losing out on the wealth of opportunities that overseas trade can bring. Exporting drives innovation and efficiency, gives companies a competitive edge and unlocks chances that just are not available to firms that operate in the UK alone. My role also involves attracting Foreign Direct Investment to UK shores, and making this an attractive destination for overseas firms setting up here. We need to maintain Britain's pro-business environment and ensure that it remains favourable to investors. That means getting the deficit down to create certainty and stability, cutting business taxes, delivering flexible employment and reducing red tape and regulation. This is important for the Government and it is important for all of us. 2. How important is trading with India in the UK's overall international trade agenda? It is very important indeed. India's projected growth is set to make it the world's fourth largest economy by 2020, which means lots of business opportunities for UK companies. This is why the Government has placed building the UK-India relationship amongst its top priorities. We will continue to work with partners from both government and industry to strengthen trade and investment links with India. The recent launch of the UK-India CEO Forum, which brought together top UK and Indian business leaders, is testament to this. We will ensure that UK businesses are not only able to unlock the plethora of opportunities that exist in India, but that they are also equipped to overcome the challenges of doing business overseas - from navigating cultural differences and gaining access to networks and contacts to learning more about the local business environment and the protection of intellectual property where necessary. 3. Should more UK SMEs be looking at doing business with India? What are the main challenges? What is your advice to them? I want to see more SMEs exporting and we should do all we can to ensure they have the support they need to do so. In fact, last year UKTI assisted some 3,000 UK firms in India, the vast majority of which were SMEs. The opportunities that exist in India make it a very attractive proposition for both SMEs and larger companies, not least because of India's burgeoning middle class and increasing consumer demand. However, India can be a challenging - and indeed overwhelming - market for companies of any size. Whilst the business culture and legal system will be familiar to most, anyone seeking to do business in India should research the market thoroughly before committing themselves. This is where the expert advice and tailored services from organisations like UKTI come in. UKTI provides market intelligence and contacts for companies wishing to do business internationally. It also helps them to navigate the issues that come with assessing new markets so that they can achieve their export potential. Finding a reliable partner remains the key to success in India, particularly for smaller companies. Setting up in India without one is risky and, in many cases, impossible. As a rule it will take time and personal interaction with potential partners before companies can become established in the market. 4. What are the main sectors where the UK would like to have closer links and partnerships with India? UK companies will find attractive opportunities in virtually every sector in India, with some sectors offering greater scope for UK expertise as India's economy continues to grow. Take education and skills, for example. There is vast potential for education and skills provision in India, in vocational training especially, and the Indian Government has ambitious plans to deliver training to some 500 million people by 2022. Given the UK's extensive experience and expertise in this area, it is well placed to take advantage of any opportunities. Work is already well under way with the UK India Skills Forum in partnership with Indian companies and government bodies to deliver projects in this sector. Meanwhile, India's ambitious infrastructure renewal programme provides substantial opportunities in specialised fields such as project management and architectural services. The work carried out by the Britain India Roads Group (BIRG) in the last year, for example, has helped UK infrastructure companies gain a foothold here, with the signing of an MOU last month with the Ministry of Road Transport and Highways: another important step towards closer links between the UK and India. 6. How important is the EU-India Free Trade Agreement? What is the UK doing to conclude the EU-India FTA? The UK strongly supports an FTA with India and it is a top Government priority. Certainly, the economic benefits for both India and the EU of an agreement which addresses a range of tariff and non-tariff barriers could amount to as much as 4 billion Euros by 2020. <</p> This is significant, especially when you consider that UK goods exports to India were worth £4.1bn in 2008 and services exports were worth a further £1.8bn. India's economy is growing by nearly around 8 per cent a year, and its middle class population is expanding rapidly. This has given rise to a significant market of opportunity for UK exporters. An FTA with India would deliver significant benefits to both the UK and India. Meanwhile, the UK Government will continue to encourage further liberalisation of Indian markets, particularly for financial and professional services, and on goods including wines and spirits, chemicals and cars and car parts. 7. How can the UK help India achieve its inclusive growth targets? The inclusion of people from rural areas remains one of the keys factors for inclusive growth in India. The Government of India's stated aim is to reduce the number of families living below the poverty line by 50 per cent by 2014. The provision of training, financial services and energy in villages is essential if the fruits of India's remarkable growth is to be shared more equally. Innovation and technology are crucial in the delivery of this, with the UK especially strong in the areas of remote learning, micro finance and low carbon energy resources. Rural Indian areas are obviously heavily dependent on agriculture for the greater part of their income yet the lack of logistics infrastructure in many areas leads to 40 per cent of produce rotting before it can reach market. UK retail companies are world leaders in cold chain logistics and have the expertise to deliver huge improvements in the distribution of produce. A number of UK companies are already established in the country - Marks and Spencer in retail and Tesco in wholesale for example - but the current restrictions on investment in multi brand retail remains a barrier to greater involvement. I welcome the Indian Government's recent announcement that they are seeking to relax these restrictions and hope that this will lead to a future where India and the UK can work together more cohesively. 8. The UK is a world leader in making high-tech products and the latest figures show that manufacturing growth has reached a 16-year high. How can the UK partner with India to keep the manufacturing industry thriving? Our growth agenda seeks to create opportunities in all areas of business in the UK. Manufacturing, particularly at the high value end, is one of the areas in which the coalition is seeking to expand as a means of encouraging growth. The Government of India remains committed to increasing capacity in high end manufacturing and innovation. We continue to work with them, and with Indian companies on supply chain logistics, knowledge transfer and in specific areas such as aerospace, automotive and low carbon technologies. Work is underway with counterparts from India under the auspices of JETCO on both innovation and manufacturing. I hope these areas of work will begin to deliver concrete examples of partnership working in the next few months. As with most sectors in India, vocational training is an important developmental area in the manufacturing sector. The creation of a highly trained pool of talent in India will provide the basis for increased growth in all areas of high tech manufacturing. I hope that the work undertaken by JETCO in this field will prove to be effective in helping to deliver a highly skilled workforce in this sector. 9. Finally, how do you see the UK India Business Council contributing to UK-India Trade and Investment success? The work of the UK India Business Council (UKIBC) complements that undertaken by UKTI, both in helping individual companies and in working at a higher level to address barriers to trade through initiatives such as JETCO. One of the key factors to doing business in India is having access to up to date market information. UKIBC plays an important role in the development and delivery of market research in India, having undertaken research in areas such as regional 'second tier' cities. The UKIBC has also provided excellent support for the JETCO process over the last two years, particularly in the education and skills, infrastructure and logistics sectors. I hope that they will continue to help push forward the UK agenda in these areas this year. Likewise, I also hope that the UKIBC Summit provides a forum for companies from the UK and India to meet and that it encourages even more partnership working in the future. http://www.ukibc.com/news_and_media/news/110620-lord-green-interview.aspxMon, 20 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110620-lord-green-interview.aspx Montreal, Denver & Mumbai: Molson Coors Brewing Company and Cobra India announced today the formation of a joint venture that will brew and market Cobra beer in South Asia. Under the terms of the agreement, Molson Coors will purchase a controlling stake of Cobra India from the existing shareholders and will have operational control over the new Molson Coors Cobra India. The joint venture will be chaired by Lord Karan Bilimoria, Cobra's founder and chairman of the Cobra Beer Partnership in the UK. Molson Coors will also be investing additional capital in Molson Coors Cobra India to meet the working capital requirements and the future expansion plans of the brewery operations. The total investment by Molson Coors is approximately $35 million. The deal with Cobra India includes land, a 175,000 hl brewery in Bihar state, with potential to expand to 500,000hl, and a beer portfolio consisting of Cobra Premium, King Cobra Superior and Iceberg 9000. Read the full article on Business Wire's website http://www.ukibc.com/news_and_media/news/110627-molson-coors-cobra-beer-jv.aspxTue, 28 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110627-molson-coors-cobra-beer-jv.aspx Reuters: Luvata is planning an expansion in India to help meet rapid growth in the food refrigeration market, the international copper product maker said on Tuesday. The company expects a first large production facility aimed at the domestic market to be ready next year. "About 52 per cent of India's workforce is directly involved in growing food and it is the second largest producer of fruit and vegetables in the world," the company said in a statement. "However, currently around a third of the food in India rots and becomes unusable because of the lack of a temperature-controlled supply chain network." India, in a bid to check rising food inflation took steps in this year's annual budget to spruce up fresh food distribution systems by building cold storage facilities and making more loans available to farmers. Read the full article on Reuter's website http://www.ukibc.com/news_and_media/news/110628-luvata-expansion-in-india.aspxTue, 28 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110628-luvata-expansion-in-india.aspx Thanjavur: Six more incubation centres in food processing technology, besides the one functioning at the Indian Institute of Crop Processing Technology (IICPT) in Thanjavur will be established during the Twelfth Five Year Plan said Ajit Kumar, Joint Secretary, Union Ministry of Food Processing Industries, here on Thursday. The centre which has modern equipments produces food products that are being sold through an outlet at IICPT. Mr.Kumar said that IICPT has introduced a village adoption programme in the curriculum for B.Tech (Food Processing) course. Under the programme, of the 40 students enrolled, three will go to a village, stay there for 15 days and study various aspects related to food processing including types of crops cultivated, supply chain and storage. During their second year of study students will be taken to foreign countries to get a first-hand exposure to various technologies adopted in food processing. Ajit Kumar said that intake into the course may be doubled next year and tripled in the consequent years. Read the full article on The Hindu's website http://www.ukibc.com/news_and_media/news/110628-six-food-tech-incubation-centres.aspxTue, 28 Jun 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110628-six-food-tech-incubation-centres.aspx KOLKATA: A day after the Supreme Court stayed the distribution of land to "unwilling farmers" from the site of the Tata Motors small car factory in Singur, the Calcutta High Court on Thursday directed the West Bengal government to file an affidavit in connection with the petition filed by Tata Motors challenging the constitutional validity of the Singur Land Rehabilitation and Development Act 2011. Justice Soumitra Pal directed the government to file an affidavit by July 8 and Tata Motors to give its reply by July 12. The hearing on the main matter after the filing of affidavits will take place on July 14, Kalyan Banerjee, counsel for the State, told journalists after the court was adjourned. After the Supreme Court order in which the court had expressed a desire that the High Court should hear the main matter expeditiously, preferably within a month, the Court decided that the hearing will commence from July 14, Siddhartha Mitra, counsel for Tata Motors, said. Read the full article on The Hindu's website http://www.ukibc.com/news_and_media/news/110701-calcutta-tells-west-bengal.aspxFri, 01 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110701-calcutta-tells-west-bengal.aspx Today the UKIBC launched a new service tailor-made for SMEs: the UKIBC Online Sector Service . This online service provides intelligence, events, reports, and create "communities" linking large and small companies around specific industry sectors. The Online Sector Service offers: Frequent news updates via the UKIBC website e.g. transactions, government announcements, press reports, etc. A quarterly report on each sector, featuring market trends, case studies of UK companies succeeding in India, profiles of leading Indian businesses, and business opportunities. Free access to UKIBC events in your particular sector. Free access to networking events with visiting Indian delegations. Discounted fees for UKIBC delegations in the particular sector. Exclusive access to UKIBC's Online Business Forum for UK and Indian companies ( hub.ukibc.com ) Sector specific details Advanced Engineering And Manufacturing Digital Media and Innovation Infrastructure Life Sciences and Healthcare Retail, Food and Supply Chain Logistics Skills And Education What the trade papers said: New service helps UK medtech export to India (Medtech Business ) New retail service targets India (RetailTechnology) New Service To Help Life Sciences and Healthcare Companies Export to India (Pharma) To register Download your registration form here (PDF, 268 KB) . http://www.ukibc.com/news_and_media/news/110701-launched-service-sme-india.aspxFri, 01 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110701-launched-service-sme-india.aspx MUMBAI: The Reserve Bank of India said it has decided to permit the issuance of equity, preference shares under the government route of the foreign direct investment scheme for some categories. "Payments should be made directly by the foreign investor to the company. Payments made through third parties citing the absence of a bank account or similar such reasons will not be eligible for issuance of shares towards FDI," the notification said. Read the full article on Financial Express website http://www.ukibc.com/news_and_media/news/110701-rbi-allows-shares-under-fdi.aspxFri, 01 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110701-rbi-allows-shares-under-fdi.aspx NEW DELHI: In a move that aims to guide or direct India Inc's resources towards affirmative action, the ministry of corporate affairs has suggested that funds spent on training and skills enhancement can be counted as corporate social responsibility. The new Companies Bill, to be tabled in Lok Sabha, proposes that companies voluntarily spend 2 per cent of their profits in CSR activities and report these to their shareholders in annual reports. With an increasing feeling among a section of the political class that the industry is doing precious little for the scheduled castes and the scheduled tribes, the government has been impressing upon India Inc to improve their employability prospects through skilling. Even as the Prime Minister's Office periodically reviews the progress on affirmative action by the industry, the MCA's new plan will also prompt India Inc to put its money where it is needed most today. "We are looking at a structured regime where India Inc may execute certain measures and be considered compliant with CSR activities," said an official in the MCA. These activities have to be reported in a particular format by companies in their annual reports. "The information they need to provide include money spent on CSR, details on vocational training provided, institutions and NGOs engaged for extending training, number of people trained and/ or absorbed, or self employed," the official added. Read the full article on Financial Express' website http://www.ukibc.com/news_and_media/news/110701-training-skills-as-csr.aspxFri, 01 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110701-training-skills-as-csr.aspx "UK-India partnership is about strategic partnership and not just about buying and selling transaction" said Lord Stephen Green, Minister for Trade and Investment, UK at the 'UK -India: Next steps towards greater partnerships', a conference jointly organized by the Confederation of Indian Industry (CII), Confederation of British Industry (CBI) and the University college London (UCL) in London, today. UK is now very focused on its needs to be engaged in India and naturally seeking their place in the very exciting, rapidly developing Indian market, he said. Lord Green added that while India faces challenges especially in infrastructure, it also presents huge opportunities to businesses especially in the entire urbanization process and the digitalization of the economy. As new technology sweeps through the world, both UK and India can do a lot together. Lord Green later released a CII and UCL Report on "Partnerships in Manufacturing: Roadmap Ahead". Read the full article on Machinist.IN's website http://www.ukibc.com/news_and_media/news/110701-uk-india-strategic-partnership.aspxFri, 01 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110701-uk-india-strategic-partnership.aspx NEW DELHI: The World Bank today said Wipro is now eligible to apply for becoming a vendor, as the four -year ban imposed on the software major ended this month. "Wipro has served their full four-year sanction period [June 13, 2007 to June 12, 2011] for the sanctionable practice of providing improper benefits to Bank staff," a World Bank spokesperson told PTI from Washington. The multilateral lender had banned Wipro in June 2007 from doing business with the group under its corporate procurement programme. The ban, however, came to light only in January 2009. Wipro had denied allegations of providing improper benefits to Bank staff. Read the full article on Business Standard's website http://www.ukibc.com/news_and_media/news/110701-wipro-eligible-vendor-status.aspxFri, 01 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110701-wipro-eligible-vendor-status.aspx NEW DELHI: After years of debate, foreign direct investment in retail may soon be a reality with a panel of secretaries expected to approve the framework for allowing global retail chains to set up shop in India later this month. Government sources said the proposal has gained momentum, with both Prime Minister Manmohan Singh and finance minister Pranab Mukherjee backing it, and chances are that the Cabinet could clear the proposal in August, setting the stage for the entry of large chains by the end of the current financial year. While a date for the meeting of secretaries would be fixed over the next few days, the outline of the policy has been finalized after two rounds of inter-ministerial consultations. The plan envisages allowing foreign chains such as Walmart and Tesco to hold up to 51% stake in the Indian venture. This is higher than what had been proposed during the first round of consultations. Read the full article on Economic Times' website http://www.ukibc.com/news_and_media/news/110702-fdi-in-retail-likely.aspxMon, 04 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110702-fdi-in-retail-likely.aspx NEW DELHI: Foreign direct investment (FDI) flows into India in May more than doubled to about $4.7 billion from the same period a year ago, a government statement said on Monday. FDI flows into India during the April-May period were up an annual 77 percent at about $7.8 billion, the statement said. In 2010/11, India received 25 percent less foreign direct investment than the previous year. Read the full article on Economic Times' website http://www.ukibc.com/news_and_media/news/110704-fdi-doubles.aspxMon, 04 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110704-fdi-doubles.aspx MUMBAI: Harun Rashid Khan today assumed charge as Deputy Governor of the Reserve Bank of India for a period of three years. Khan replaces Shyamala Gopinath who retired last month, RBI said in a statement. As one of the deputy governors of the apex bank, Khan will look after the Central Security Cell, Department of External Investments and Operations, Department of Government and Bank Accounts, Department of Payment and Settlement Systems, Foreign Exchange Department, Internal Debt Management Department and Inspection Department. Prior to this appointment, Khan was Executive Director of RBI. Read the full article on Economic Times' website http://www.ukibc.com/news_and_media/news/110704-harun-rashid-khan-rbi-dep-gov.aspxMon, 04 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110704-harun-rashid-khan-rbi-dep-gov.aspx SINGAPORE: Indian businesses are expected to invest between USD 40-50 billion overseas this year as global economy improves, after having committed USD 30-35 billion of such investments last year, Lanco Infratech Ltd Executive Director Ajay Kumar Dhir said on Monday. He gave the "rough estimations" at the inaugural Future Global 100 Initiative (FG100), a corporate world's gathering in Singapore to address the global economy, markets and business direction, pointing out that Indian corporations were now "very bullish" on investing globally. "Last year, between USD 30-35 billion was committed as big ticket investments overseas by Indian businesses despite the traces of the 2008-2009, global economic recessionary trend," he said, adding that the figure included Lanco's USD 1 billion investment in an Australian coal mine. Read the article on Economic Times' website http://www.ukibc.com/news_and_media/news/110704-indian-business-invest-overseas.aspxMon, 04 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110704-indian-business-invest-overseas.aspx NEW DELHI: British mobile phone giant Vodafone is taking full control of its Indian joint venture by buying out its local partner Essar Group, a statement said Saturday, ending a troubled relationship. Vodafone, which has sought to make India a crown jewel in its expanding emerging markets portfolio, said it will pay Essar Group companies $5.46 billion for the one-third holding in Indian mobile-phone services provider Vodafone-Essar. "The settlement marks the end of a four-year partnership between Vodafone and Essar in India, during which Vodafone Essar has grown to reach almost 140 million subscribers," the British firm said in the statement. Read the full article on Economic Times' website http://www.ukibc.com/news_and_media/news/110705-vodafone-takes-essar.aspxTue, 05 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110705-vodafone-takes-essar.aspx BANGALORE: Wipro plans to increase its share of outsourcing spend by top customers BP plc and GE, as India's third biggest software exporter seeks to catch up with bigger rivals TCS and Infosys who have more clients contributing over $100 million in annual revenues. With only three customers contributing $100 million or more, Wipro needs to gain a larger share of spend from top customers. Infosys has 11 customers contributing $100 million or above in yearly revenues, while TCS has eight such large clients. Wipro gets 20% of its revenues from the top ten customers, lower than TCS' 30% and Infosys' 25%. Read the full article on Economic Times' website http://www.ukibc.com/news_and_media/news/110705-wipro-outsourcing.aspxTue, 05 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110705-wipro-outsourcing.aspx CHENNAI: Mahindra Aerospace Pvt Ltd, which is to start work on the $60-million aero-structure production business, plans to step up investments, according to Mr Arvind Mehra, Executive Director and CEO. "There are plans to go beyond what we thought of initially," he told newspersons in Chennai recently. Work on the aero-structure - aircraft frame components - production facility is to start in a matter of days and the plant will be up in a little over a year. The Mahindra & Mahindra group company will subsequently get into production of aero assemblies and composites-based aero-structure after starting with metal components. While declining to give details of the enhanced investments, he said Mahindra Aerospace will establish a comprehensive presence in the 5- to 20-seater aircraft segment from production to distribution. This is a $5-billion market growing 15 per cent a year with over 4,000 aircraft in use globally. Read the full article on Hindu Business Line's website http://www.ukibc.com/news_and_media/news/110706-mahindra-aerospace.aspxWed, 06 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110706-mahindra-aerospace.aspx KOLKATA, 5 JULY: The state government has highlighted the need of setting up an institute of urban planning during a meeting attended by Mr Arun Moira, a member of the Planning Commission, at Writers' Buildings today. The state planning and development minister Mr Monish Gupta and some senior officials have discussed with Mr Moira certain plans that are to be executed in West Bengal during the 12th five year plan. "There is a plan to make West Bengal as the eastern gateway of India and discussion regarding urbanisation in the state took place at today's meeting," said a highly placed official at Writers' Buildings. Additional chief secretary, state planning and development department, Mrs Jaya Dasgupta, and municipal affairs department secretary Mr Alapan Bandyopadhyay have also attended the meeting. "We need to have an institution that will prepare a plan about the process of urbanisation. Vision paper based on estimated population is also required to be prepared. There is a need to have a well though-out plan for future development. So, there has to be an agency to do this. The assistance of the Planning Commission is therefore required for setting up such an institution," the official said. At today's meeting the pattern of urbanisation in the state was discussed in the light of growth of population in districts. Setting up of the institute is also needed to arrest unplanned urbanisation that will hinder the economic growth of the state. Read the article on The Statesman's website http://www.ukibc.com/news_and_media/news/110708-institute-urban-planning.aspxFri, 08 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110708-institute-urban-planning.aspxNEW DELHI: Frequent tussles over the state acquiring land for private sector projects seem to have forced a strategy rethink in the government. Raising questions on the viability of expressway projects worth over R4.5 lakh crore, the National Highways Authority of India has proposed that private companies developing expressways must acquire land on their own. The move could hit the feasibility of over 18,000 km of expressway projects that NHAI is planning to bid out. Firms like Reliance Infrastructure, GMR Infrastructure, GVK Industries, Larsen & Toubro and HCC are believed to be keen on these projects. Officials from some of these companies have told FE that it would be near-impossible for them to acquire land without government support. Official sources said the NHAI is also working on new bidding criteria for expressways under which bidders would be selected on the basis of lower toll rates and facilities like shopping complexes and hospitals which would be developed alongside the expressways. Read the full article on Financial Express' website http://www.ukibc.com/news_and_media/news/110708-road-builders-buy.aspxTue, 12 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110708-road-builders-buy.aspx Amitabh Kant, the young district collector who in 1991 structured the first airport on private-public partnership, in Kozhikode, is now presiding over the most ambitious infrastructure project ever in India, the Delhi-Mumbai Industrial Corridor (DMIC), estimated at $90 billion. "It is an unusual project, extremely tough and challenging." The immediate challenge is to alter the existing ownership structure at DMICDC, the special purpose vehicle created to build the DMIC. Infrastructure Leasing & Financial Services (IL&FS) and Infrastructure Development Finance Company (IDFC) own 41% and 10% of DMICDC while the government owns the remaining 49%. "Both these companies want to participate in downstream projects [in the DMIC] in power, transport, water, etc... you can't own an entity and still participate in its bidding process... then there is an enormous conflict of interest," says Kant. So both IL&FS and IDFC should exit DMICDC, he says, adding that they will be replaced with government financial institutions. Read the full article on Economic Times' website http://www.ukibc.com/news_and_media/news/110708-states-must-move-faster.aspxFri, 08 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110708-states-must-move-faster.aspx SINGAPORE: Urban Development Minister Kamal Nath today held a series of meetings with infrastructure companies in Singapore, explaining the new opportunities emerging in the vast South Asian market. Nath said he would also be meeting Singapore''s National Development Minister Khaw Boon Hwa tomorrow as part of his ongoing India-Singapore bilateral dialogues. "We will look at how various infrastructure companies in Singapore can participate in India''s development," he told PTI about the scheduled ministerial meeting. Nath is in Singapore for a summit on water infrastructure development. Read the full article on Yahoo News' website http://www.ukibc.com/news_and_media/news/110711-kamal-nath-infra-dev.aspxMon, 11 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110711-kamal-nath-infra-dev.aspxMANGALORE: Manipal University, Manipal, has signed a memorandum of understanding (MoU) with Robert Gordon University of the UK for a two-year programme in Master of Physiotherapy in Sports and Clinical Biomechanics. A press release here said the programme would start from September in the Department of Physiotherapy in the Manipal College of Allied Health Sciences. It said selected candidates will complete their first year in Manipal University and the second year in Robert Gordon University. The MoU was signed in the presence of Dr H. Vinod Bhat, Pro Vice-Chancellor of Manipal University, and Dr Elizabeth Hancock, Dean of the School of Health Science Robert Gordon University, the release added. Read the article on Hindu Business Line's website http://www.ukibc.com/news_and_media/news/110711-manipal-uni-ties-uk.aspxMon, 11 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110711-manipal-uni-ties-uk.aspx NEW YORK: Eight Indian companies feature in the list of the world's 500 largest companies compiled by American business magazine Fortune. The league of 500 elite companies for 2010 is topped by US retailer Wal-Mart Stores, followed by oil giant Royal Dutch Shell and another oil major, Exxon Mobil, in that order. Besides IOC and RIL, the other Indian companies in the list are steel-maker Tata Steel, auto company Tata Motors, oil entities Bharat Petroleum, Hindustan Petroleum and Oil & Natural Gas and public sector bank SBI. Tata Motors has made an entry into the list for the first time this year, while seven other Indian entities, which were part of the list in the previous year as well, are also featured in this list. Read the full article on BN Live's website http://www.ukibc.com/news_and_media/news/110712-8-indian-firms-biggest.aspxTue, 12 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110712-8-indian-firms-biggest.aspx NEW DELHI: Planning Commission today said there is no move "anywhere" to restrict foreign investment in pharmaceutical even as an expert group is looking into the specific issues related with FDI into the sector. "I don't think there is any move anywhere to prevent the expansion of existing 100% foreign owned pharmaceutical companies or to prevent green field investment by foreign companies," Planning Commission deputy chairman Montek Singh Ahluwalia said at the India-US High Technology Cooperation meeting. Currently 100% FDI is allowed in the sector. He was answering a question on whether the government was mulling restricting FDI in pharmaceutical sector. There are fears that acquisition of domestic pharma companies by MNCs will lead to drug price escalation. Read the full article on Business Standard's website http://www.ukibc.com/news_and_media/news/110712-no-move-restrict-fdi-pharma.aspxTue, 12 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110712-no-move-restrict-fdi-pharma.aspx HYDERABAD: Reliance Digital, part of the multi-format Reliance Retail Ltd, opened its 36th store in the country on Saturday. This is its eighth outlet in Hyderabad, and the company plans to set up 36 more during the year. "While revamping the digital-store format, packing them with experience zones, we are also gearing up to launch private labels," Mr Brian Bade, Chief Executive (Consumer Durables, IT and Telecom), Reliance Retail Ltd, said. "Experience zones enable customers to touch and feel products and also try them out before finalising plans. All stores will have such zones. The purchase of products will be followed by installation and also an executive explaining its features, wherever necessary," he said. Read the full article on Hindu Business Line's website http://www.ukibc.com/news_and_media/news/110712-reliance-digital-gears-up.aspxTue, 05 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110712-reliance-digital-gears-up.aspx NEW DELHI: In a substantive yet incomplete exercise, Prime Minister Manmohan Singh today dropped seven ministers, inducted V Kishore Chandra Deo and seven other new faces, and elevated three others including Jairam Ramesh from whom Environment and Forests has been taken away. In the much-talked about revamping of his ministry, Singh did not touch the 'big four' -- Finance, Home, Defence and External Affairs, but shifted M Veerappa Moily from Law to Corporate Affairs and brought Salman Khursheed in his place. Trinamool Congress leader Dinesh Trivedi has been elevated to the Cabinet rank and given the Railways portfolio left vacant by Mamata Banerjee after she became West Bengal Chief Minister. Beni Prasad Verma becomes a Cabinet Minister for Steel, a portfolio he earlier held as Minister of State with Independent charge. Read the full article on Economic Times' website http://www.ukibc.com/news_and_media/news/110713-cabinet-reshuffle.aspxWed, 13 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110713-cabinet-reshuffle.aspx NEW DELHI: The finance ministry has approved six road proposals at an estimated cost of Rs 9773.85 crore under public-private partnership (PPP). The Public Private Partnership Approval Committee (PPPAC), chaired by Economic Affairs Secretary R Gopalan, had granted approval to the six proposals of the ministry of road transport and highways spread across five states, an official statement said. The projects approved, include six laning of Kishangarh Udaipur Ahmedabad section of NH 79A, NH 79, NH 76 and NH 8 in Rajasthan and Gujarat worth Rs 5,387.30 crore. Also four laning of Lucknow-Sultanpur section of NH 56 in Uttar Pradesh worth Rs 1,013 crore and four laning of Angul-Sambalpur section of NH 42 in Orissa for Rs 1,220.32 crore. The other projects are two/four laning of Birmitrapur to Barkote section in Orissa (Rs 778.15 crore), four laning with paved shoulder of Bhopal to Biaora section in Madhya Pradesh (Rs 704.26 crore) and four laning of Rewa to MP/UP Border of NH 7 (Rs 670.82 crore). The other projects approved are in Uttar Pradesh, Orissa and Madhya Pradesh. All the projects are related to expansion of national highways in the respective states. Read the full article on Business Standard's website http://www.ukibc.com/news_and_media/news/110713-finmin-approves-6-ppp-roads.aspxWed, 13 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110713-finmin-approves-6-ppp-roads.aspx MYSORE: The Mysore campus of Infosys was today renamed as 'Narayana Murthy Centre of Excellence' at a function held at its campus in the Hebbal area here. The decision to change the name was taken at a high-level meeting of founding members of the IT bellwether at the city campus held earlier. The meeting was attended by Chief Mentor and founder N R Narayana Murthy, Kris Gopalakrishnan, CEO and Managing Director among others. After a brief interaction with Infosians here, Chief Mentor Narayana Murthy exhorted them to strive for excellence, both professionally and personally. Infosys Mysore campus has around 7,000 employees and also functions as a centre of excellence. Read the full article on Business Standard's website http://www.ukibc.com/news_and_media/news/110713-mysore-campus-renamed.aspxWed, 13 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110713-mysore-campus-renamed.aspx MUMBAI: Aegis, the global outsourcing services arm of Essar Group, today announced its plans to enter the UK and European markets for the first time, creating 600 new jobs in Manchester. The jobs will be at a new customer centre spread across 40,000 sq ft at the City Tower in Piccadilly Gardens in Manchester, expected to be operational later this year. Aegis will service a number of major blue chip clients from the centre. Aegis plans a further expansion across various countries in Continental Europe, where a number of additional customer service centres will be opened in the next two years. The company chose Manchester over other cities in the region because it has a mature BPO industry. Read the full article on Business Standard's website http://www.ukibc.com/news_and_media/news/110715-aegis-enters-uk.aspxFri, 15 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110715-aegis-enters-uk.aspx BANGALORE: The Karnataka government on Thursday cleared investment proposals worth over Rs 8,662 crore which includes the plans of Honda Motorcycle India plans for a manufacturing unit in the State. Karnataka Industries Minister Murugesh Nirani said Honda Motorcycles and Scooter India would be investing Rs 1,350 crore in Narsapur Industrial area of Kolar district of the State. The groundbreaking ceremony is likely next month with commercial production expected to commence from April 2013. Besides, Honda Motorcycles the other significant investments include Britannia Industries plans to set up a greenfield biscuits & bakery products manufacturing unit and R&D centre with an investment of Rs 100 crore on the outskirts of Bangalore. The investment proposals cleared by the Karnataka government spread across the sectors of automobiles, iron & steel, sugar, chemicals etc. Nirani said that these proposals have the potential to generate employment for around 23,000 people. Read the full article on Economic Times' website http://www.ukibc.com/news_and_media/news/110715-karnataka-investments.aspxFri, 15 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110715-karnataka-investments.aspx NEW DELHI / MUMBAI: Motherson Sumi Systems Ltd (MSSL), flagship company of the Samvardhana Motherson Group, has announced an acquisition of 80 per cent stake in the Peguform Group, makers of car bumpers and dashboards for an undisclosed sum. Headquartered in Germany, Peguform is the second largest supplier of door panels in its home market. This is the second acquisition abroad by Motherson Sumi within a little more than two years. It is also the third foreign acquisition by an Indian auto component company in two months, signalling a clear shift in strategies and putting buy-outs back on the planning desk. MSSL will buy the stake in partnership with Samvardhana Motherson Finance (SMFL), through a special purpose vehicle from Austria's Cross Industries AG. While MSSL will hold 51 per cent in the SPV, which will hold the 80 per cent stake in Peguform, SMFL will hold the balance of 49 per cent. Cross Industries will hold a 20 per cent direct stake in Peguform. The deal size would be disclosed by September-October and is subject to regulatory approval. The acquisition in Peguform also gives Motherson direct holding of 50 per cent in Wethje Carbon Composite, part of Cross Industries. Read the full article on Business Standard's website http://www.ukibc.com/news_and_media/news/110715-motherson-sumi-buys-german.aspxThu, 14 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110715-motherson-sumi-buys-german.aspx Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi;} LONDON: In a letter to the Indian High Commissioner, the UKIBC Chair, The Rt Hon Patricia Hewitt said, "Every friend of India will mourn for the victims of these outrages. And because we too have suffered from terrorism in Britain, I know that the British government and authorities will continue to do everything possible to support the Government of India in its struggle against terrorism." Mrs Hewitt asked the High Commissioner to convey to Prime Minister Dr Manmohan Singh and to the chief minister of Maharashtra our support for the people of Mumbai and our deep sympathy for the victims and their families. http://www.ukibc.com/news_and_media/news/110715-ukibc-expresses-support.aspxFri, 15 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110715-ukibc-expresses-support.aspx NEW DELHI: According to a new directive by the Ministry of Corporate Affairs (MCA), companies will now have to get their financial statements, compulsorily certified by Chartered Accountants (CA), filed in eXtensible Business Reporting Language (XBRL) format with the MCA. The MCA's new directive applies to all listed companies and also unlisted firms with a paid-up capital of at least Rs 5 crore or those with turnover of Rs 100 crore and above. Theoretically, that would cover about 40,000 firms, who even if they pay Rs 50,000 each (for XBRL certification) would generate professional fees of Rs 200 crore to chartered accountants. While practicing chartered accountants may have a reason to celebrate, the Centre's latest decision is unlikely to be welcomed by companies, who would now be paying auditors twice - once for carrying out regular statutory audit and another for certifying the correctness of their financial statements filed under XBRL mode in the MCA-21 portal. Read the full article on Hindu Business Line's website http://www.ukibc.com/news_and_media/news/110718-ca-certification.aspxMon, 18 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110718-ca-certification.aspx NEW DELHI: MapmyIndia, a leading player in maps, GPS navigation and location-based services, has announced a seven-year strategic partnership with Nuance Communications to offer street level turn-by-turn voice navigation on its next-generation navigation devices. For the first time in India, MapmyIndia will offer GPS navigators that give voice guidance with accurate pronunciation of Indian street and road names. Under the alliance, MapmyIndia's new navigation devices will be equipped with Nuance Communications' Vocalizer for Automotive - the industry leading text-to-speech engine for more accurate voice guidance. Nuance's Vocalizer for Automotive will be fine-tuned and enhanced by MapmyIndia to offer, for the first time in India, accurate pronunciations of Indian street names and points of interests across 1200 cities in India. Read the full article on Economic Times' website http://www.ukibc.com/news_and_media/news/110718-mapmyindia-to-offer-voice.aspxMon, 18 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110718-mapmyindia-to-offer-voice.aspx MUMBAI: Payments and banking transactions through mobile phones in India are expected to touch US$ 350 billion (Rs 1,560 crore) by 2015, according to The Boston Consulting Group (BCG), a global management consulting firm. This will provide banks, telecom operators, device makers and service providers an opportunity to earn fee income of $4.5 bn, it said. "It is far less costly to offer banking and payment services using mobile technology than to build new (bank) branches in a country that, outside of major cities, is still largely rural," BCG said in its study, 'Digital India - The rush to mobile money: madness or masterstroke?'. "Mobile-enabled business correspondents, who are authorised to conduct business on behalf of banks, can serve a customer for eight to 15 cents per transaction, far below the $1.0-1.5 cost at a branch," it added. Banks and mobile phone companies have already started preparing themselves to seize a share of this business. The country's largest lender, State Bank of India (SBI), has joined hands with Bharti Airtel. The biggest private lender, ICICI Bank, has formed a partnership with Vodafone for mobile banking ventures. Axis Bank and Idea Cellular have also set up a similar venture. Read the full article on Business Standard website Read Digital India:The Rush to Mobile Money - Madness or Master Stroke? at BCG http://www.ukibc.com/news_and_media/news/110718-mobile-transactions.aspxMon, 18 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110718-mobile-transactions.aspx KOCHI: Committed to the full implementation of international standards to combat money laundering and terror financing, India today said it was making suitable amendments to converge the country's existing laws with the recommendations of the global Financial Action Task Force. In order to make the Prevention of Money Laundering and Unlawful Activities (Prevention) Acts more effective, India was in the process of making 'suitable' amendments to the two acts to bring them in line with the core and key recommendations of the Financial Action Task Force, Finance Minister Pranab Mukherjee said while inaugurating the five-day meeting of the Asia-Pacific Group on 'Money Laundering' here. Read the full article on Indian Express' website http://www.ukibc.com/news_and_media/news/110719-laws-must-check-launder.aspxTue, 19 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110719-laws-must-check-launder.aspx NEW DELHI: After cautioning Indian markets about possible money laundering and terror-funding risks from Iran and North Korea, market regulator Sebi has issued a warning for funds from eight more countries, including Turkey and Ethiopia. A similar warning could be issued soon by the Reserve Bank of India (RBI) to banks and financial institutions seeking caution in dealings with entities and funds related to the eight nations, which also include Bolivia, Cuba, Kenya, Myanmar, Sri Lanka and Syria. The Sebi warning follows a global caution notice from the Financial Action Task Force (FATF), the global oversight and policy-framing body for rules to combat money laundering and terror funding risks to international financial markets. Read the full article on website http://www.ukibc.com/news_and_media/news/110719-sebi-alert-laundering.aspxTue, 19 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110719-sebi-alert-laundering.aspx MUMBAI: With signs of slowdown in credit growth emerging in the April-June quarter, top bankers have sought a breather from the Reserve Bank of India in the current rate hike cycle. At the pre-monetary policy consultation meeting at the RBI on Monday, bankers made a case for a pause by pointing out that the industrial output growth in May was the slowest in nine months. According to Mr M. D. Mallya, Chairman, Indian Banks' Association, there is definitely a slowdown in new loan sanctions. In the reporting quarter, credit offtake from banks was relatively slower at Rs 1.44 lakh crore against Rs 1.63 lakh crore in the corresponding year- ago period. The industrial output in May rose 5.6 per cent against 8.5 per cent in May 2010. The central bank has hiked interest rates 10 times since March 2010 to stave off rising inflationary pressures. Tight monetary policy and high inflation were dampening growth impulses in the economy, bankers said. Notwithstanding bankers' contention about tepid demand for credit and the slowdown in IIP numbers, the central bank is likely to persist with rate hikes as inflation continues to be high, say economists. The annual inflation rose to 9.44 per cent in June against 9.06 per cent in May 2011. The RBI, in the June Mid-Quarter Monetary Policy Review, said its monetary policy stance remains firmly anti-inflationary, recognising that, in the current circumstances, some short-run deceleration in growth may be unavoidable in bringing inflation under control. The case for another rate hike (of 25 basis points) in the first quarter review of Monetary Policy on July 26, 2011 becomes stronger, especially as there are signs that inflation may continue to be rigid in the downward direction, said Care Ratings in a report. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110720-bankers-petition-rbi.aspxWed, 20 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110720-bankers-petition-rbi.aspx CHENNAI: Move over CDs and audio cassettes, which are almost defunct now - digital downloading now forms 50 per cent of the Indian music industry revenues. According to Mr Shridhar Subramaniam, President, Sony India and Middle East, 'physical' forms such as CDs contribute 15 per cent of sales, the performance and broadcasting industry 15 per cent while the overseas markets account for 20 per cent. The digital consumption, distribution and availability of the catalogue in the digital arena are only a logical progression and evolution of the music market, he says. Influenced by this trend, Sony Music recently tied up with IODA (Independent Online Distribution Alliance) that offers Indian artistes and labels a quick, transparent and easy way to access the vast global demand for their music. "This would enable Indian artistes and labels to connect with over 3,000 blogs, podcasts Internet radio stations, social networking and music Web sites," says Mr Subramaniam. Indian music has a huge global audience. It basically appeals to two segments - Indian diaspora and global experimental audience. First- to third-generation Indians are largely concentrated in the US, the UK, West Asia and Australia and number around 12 million. This segment prefers soundtracks in Hindi or Tamil or Telugu. Additionally, there is a large demand for Punjabi and devotional content too. Secondly, the world music or the experimental audience - who are either Indophiles, global travellers or the new youth who are seeking new experiences, who have a fancy for Bollywood movies, Indian marriages, costumes and other popular Indian culture. "Indian music is growing in appeal and we are seeing increasing pick-up from global digital stores such iTunes and Amazon," he said. Besides, Sony Music recently got into the talent management and music publishing verticals. "With a team of professionals with wide experience" talent management will be the company's second vertical in focus, says Mr Subramaniam. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110720-digital-downloads-drive-music.aspxWed, 20 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110720-digital-downloads-drive-music.aspx NEW DELHI: The Government yesterday announced clearing of 31 foreign direct investment (FDI )proposals worth Rs 3,844.7 crore, including that of Multiples Pvt Equity Fund and global tour operator Cox & Kings. The Government's nod to Multiples Pvt Equity Fund -Scheme-1, Mumbai to bring in foreign funds worth Rs 1,000 crore is the largest FDI application that has been cleared. The company can now make investments in securities of the Indian companies and distribute income realised on its investment, the Finance Ministry said. FDI proposals were cleared by the Foreign Investment Promotion Board (FIPB) in its last meeting, the Finance Ministry said. Besides, the FIPB in its meeting held last month had deferred decision on 18 proposals to bring in FDI. Read the full article on Business Standard's website http://www.ukibc.com/news_and_media/news/110720-govt-approves-31-fdi.aspxWed, 20 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110720-govt-approves-31-fdi.aspx NEW DELHI: The government will invite bids for 3,000-crore solar power projects with a capacity of 300 mw under the National Solar Mission in the first week of August, a top government official said. "There was a meeting with the solar power developers on July 8. Based on the meeting, the Ministry of New and Renewable Energy is looking to tweak some guidelines for the second round of bidding likely to take place in the first week of August," said Anil Agrawal, Chief Executive Officer, NTPC Vidyut Vyapar Nigam, the nodal agency for conducting the selection process for the first stage of Jawaharlal Nehru National Solar Mission (JNNSM). The projects would be awarded by the end of this year and the power purchase agreements would be signed in January 2012. In the first round of bidding, the government had awarded 30 solar photovoltaic (pv) projects of 5 mw each having a total capacity of 150 mw and seven solar thermal projects of 470 mw. Read the full article on 'Economic Times' website http://www.ukibc.com/news_and_media/news/110720-govt-invite-bids-solar-power.aspxWed, 20 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110720-govt-invite-bids-solar-power.aspx NEW DELHI: In a first in the country, Maharashtra's state electricity regulator is planning a regime of multiple distribution licensees in the Mumbai suburban area. The move could bring in competition among last-mile power suppliers in this market. The Maharashtra Electricity Regulatory Commission (MERC) plans to allow a couple of more players to supply power in the Mumbai suburban area. Reliance Infrastructure, the sole power supplier with own network in the area, is facing consumer ire for the high cost of its power. Although the tariffs are determined by the regulator, it is bound to allow the company higher tariffs and avoid load shedding because it sources power from the open market under short-term contracts. "This (allowing a couple of more licences) is a possibility," MERC chairman VP Raja told FE, adding, "Multiple players are required to ensure tariff competition in the area." Private players, namely Torrent Power, Lanco and Indiabulls and state-owned Mahrashtra State Electricity Distribution Company (MSEDCL) have already submitted expression of interest (EoI) to the regulator for parallel distribution licences. Reliance Infra's existing power distribution licence for the area is set to expire on August 15. A new licence is likely to be issued to the company, which implies that in the new regime, there would be three players for supply of power in the area. Although the Electricity Act, 2003, envisages multiple suppliers in each power market, this has not become a reality anywhere in the country due to a lack of regulatory initiative. Read the full article on Financial Express website http://www.ukibc.com/news_and_media/news/110720-mumbaikars-choose-power-co.aspxWed, 20 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110720-mumbaikars-choose-power-co.aspx MUMBAI: Staying invested in pharmaceutical, FMCG and banking stocks since 2007 seems to have reaped good returns for the investors. Data on the BSE-500 stocks shows that about 10 per cent (55 stocks) have given more than 100 per cent returns, while 20 per cent (99 stocks) have given returns of over 50 per cent, between mid-October 2007 and end-June 2011. According to a Business Line analysis of the BSE 500 stocks, during this period the Sensex itself has remained largely flat hovering around 18,600 levels. Of the top 500 stocks in the BSE, around 158 stocks or 32 per cent have given returns above ten per cent. The stock with the highest returns has been Prraneta Industries, which has seen its stock price move from Rs 2.34 to Rs 72.85 , a whooping jump of more than 3,000 per cent. The second highest movement was seen in the case of TTK Prestige where the price moved from Rs 140.15 to Rs 2,942.05 a share, a 2,000 per cent increase. Shree Global Tradefin was the third best performing stock giving returns of 1,339 per cent. However, it must be noted that Shree Global Tradefin was not part of the BSE-500 index in October 2007 and was included in January 2008. The FMCG and pharma sectors dominate the list of these companies fortifying the Indian consumption story. Of the 99 stocks that gave more than 50 per cent, 56 belonged to the pharmaceuticals, FMCG, capital goods and banking sectors, with the FMCG companies dominating the list at 19. In an economy that is about 70-80 per cent driven by consumption demand, this is hardly surprising, say market analysts. One reason for the strong performance of these sectors was the over-all growth in the country even during the economic downturn. With a growth rate of about 7-8 per cent during the three-year, down from 9-10 per cent, the Indian market was still more attractive than the others global economies. The US economy's growth rate during the same period declined to 1.2 per cent from 3 per cent, while the European economies are still struggling to come out of the recession. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110720-pharma-fmcg-stocks.aspxWed, 20 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110720-pharma-fmcg-stocks.aspx KOCHI: Amrita Vishwa Vidyapeetham's e-learning platform A-VIEW (Amrita Virtual Interactive e-Learning World) won the jury award for the Best Innovation in Open and Distance Learning under the higher education category at the World Education Summit-2011 in New Delhi the other day. "We are honoured to receive the award and delighted that A-VIEW has been recognised for its utility to give quality education," said Kamal Bijlani. The event was organised by the Indira Gandhi National Open University in association with the Centre of Science Development and Media Studies and Elets Technomedia. A-VIEW helps in providing quality education in the higher education sector by conducting online workshops even in remote areas in association with the Indian Institute of Technology, Mumbai. Recently, A-VIEW was used to conduct online workshops on Basic Electronics and Thermodynamics, which were attended by more than 3,000 teachers, according to a statement issued by the Amrita E-Learning Research Lab at the Vallikkavu Amritanandamayi Math. Read the full article on IBN Live website http://www.ukibc.com/news_and_media/news/110721-a-view-wins-award.aspxThu, 21 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110721-a-view-wins-award.aspx by Tina Nielsen Tapping international potential is a great opportunity for businesses to expand and make a profit but there are many obstacles. Our guide will put you on the right track "Due diligence is vital" but "The real risk is not being aware of the opportunities." - Richard Heald, UKIBC International Payments reveals that 2.2 million SMEs in the UK don't think there is enough advice, information and support available for small firms trading internationally. While 73 per cent believe in an export-led recovery, 23 per cent say they would be cutting back international activity. But businesses in the UK will play a big role in helping the economy to recover from the recession and in order for that to happen more need to look abroad. "We want more companies to export. We need an export-led recovery, that is the way we will get growth and increased manufacturing," says Clive Drinkwater, director of UKTI North West. Nina Uppal, founder of New York Delhi, adds: "I think right now is a brilliant time to be exporting because the exchange rate is favourable to the international market but also because British brands are in huge demand." Delegates at the IoD International Trade Forum in June learnt how to successfully trade across borders. Now Uppal and other experts give their advice to businesses contemplating international trade for the first time. Be serious Ray Jones, head of business consulting at RTC North, a business support organisation, reckons that not enough SMEs treat international expansion correctly. "You have to set it up as a separate business model rather than simply take a punt at getting some business from a different part of the world," he says. "It is vital to build and invest in something that will be sustainable in the future." While most SMEs like the glamour of being in new countries, they see it as an aside to their core market, says Jones. "My philosophy is that the international market is where your growth will come from. We have got some fabulous technology and some great products but we are not competing in the right way." He adds: "Look at your international trade as a separate business model that requires investment and returns to make sure it is sustainable for the future, not just for now or for next year." You can't please everybody Richard North, chief executive of toy manufacturer Wow! Stuff, found entering the overseas market overwhelming. "We thought we were tentatively dipping our toes in the waters by taking a small booth at a trade show 18 months ago, but we were inundated," he says. "The biggest lesson we learnt was that you have to be good at prioritising because you'll get a thousand business cards, all saying 'your products will be fantastic in our market'. At that first show we got it badly wrong, trying to service everybody." North believes it is vital to get to know people to determine whether they will work as distributors. "We have to work with like-minded companies and it is important they understand our strategy if they are going to sell our products," he says. "Business is done between people, not companies, so you need to ask yourself if people get your strategy and whether they will adopt it." His advice is to be selective. "You may have some on the list that you don't go for in the first instance, but they will still be there in two or three years. We learnt from trying to do too much," he says. Have confidence in your product When Nina Uppal set up New York Delhi, selling spices, nuts and other snacks, she found it relatively easy to start exporting. "We were picked up by a US distributor at the first international trade market we attended; and later by distributors in Spain and the Netherlands," she says. She thinks small firms are often overly grateful and accept what distributors offer too readily. "In the early days we were so flattered that it didn't matter who else distributors were buying from. You are so full of yourself you don't care as long as they buy from you," she says. "It is important to ask the right questions. Now we are looking less needy, people have been jumping through hoops to tell us why they are the best distributor." When Uppal recently ventured into China she had five different distributors wanting to represent her. "I whittled them down to two and they said they wanted exclusivity and also that I couldn't talk to anyone else. I made it clear that I would stop talking to other suitors when one of them put in an order. That same afternoon an order came in. If they want a product badly enough they will place the order," she says. "They thought I was really bold in a positive way, and they loved that." Make the right connections Dr Herbert Loebl, founder of the Herbert Loebl Export Academy at Newcastle University Business School, says connecting with the right people is key to success in international trade. "The first point of call when looking to export should be UK Trade & Investment," he says. "They are incredibly helpful and will be able to assist you in selecting a market for your product and find suitable representatives in your chosen field." Loebl has always sought out trade publications in countries to which his companies have exported and maintained good relationships with them. "Public relations, advertising and attending exhibitions can go a long way towards raising your profile in a chosen market, so it is worth researching opportunities for developing an international marketing campaign," he explains. Developing relationships with UK trade commissioners in countries earmarked for export can go a long way towards success, he adds. "If a commissioner does not have expertise on your service or product they will know someone who does, which will help you find an appropriate agent," says Loebl. "I only went against the advice of a trade commissioner once in Serbia and it was certainly to my detriment." Embrace technological change As a business owner who sources half his stock from Chinese manufacturers and sells goods in several countries, Darren Williams of Harland Hair and Beauty knows a thing or two about trading internationally. For his business the internet is hugely important and keeping up to date has presented the biggest challenge. "We are dependent on search engines and they have evolved so much in recent months," he says. "Google tries to be more local so if you are searching for a restaurant it will most likely throw up results in your area and the same will happen for hair and hair extensions. "It has proved a challenge internationally because we are not performing so well in the search engines. Our strategy is now geared more towards getting our website translated and having it optimised in foreign search engines. You have got to embrace change on an international level. Because we are all online we rely on search engines. Keeping up with change is critical and it is absolutely key to international success." Choose your market well If you have decided to launch internationally your choice of market is crucial, says Clive Drinkwater at UKTI North West. "You should start by looking at a few of the markets where you think there are major players and where there is potential in your sector; you should look at the political stability, the culture and language," he suggests. "If you are in the auto industry then one of the up-and-coming countries is Slovakia, so you'd want to look for opportunities there." He believes there are advantages in sticking to the European market for firms that are just starting to trade internationally. "It is sensible to start off within the EU because of the free-market access. Once you go beyond Europe there are certain barriers," he says. Few small companies should launch straight into one of the Bric countries. "You should start in the easier markets where language is not a barrier, such as the Netherlands, Scandinavia, Belgium or Ireland; these are all in the EU and will not present barriers to trading," he advises. Choosing your market depends on doing research. "If you haven't looked at the value proposition you are going to present to the market and understood what factors they will take into account - your price point may be too high or your channels of distribution may be inappropriate for the market - it will fail." It could be a costly experience if you haven't done your homework properly. "There is a lot of cost associated with market entry; it is an investment," says Drinkwater. Protect your currency Many SMEs are put off international trade due to unpredictable currency rates. "It is clear that many SMEs don't trade internationally because they don't know how they can mitigate against foreign-currency fluctuations," says Rocco Magno, general manager of American Express FX International Payments. "Last year the euro gradually appreciated and then it reached a plateau and then it began to appreciate again. Since January it has risen nine per cent against the value of the pound. For an SME, nine per cent of your margin is quite significant if it is not protected." Up to £20.4bn is lost every year through unprotected payments and 55 per cent of UK SMEs don't safeguard themselves from currency fluctuations. But Magno says it is easy for businesses to protect themselves. "SMEs in particular take out foreign-exchange contracts to forward buy foreign currency and fix the rate. A company may require €100,000 (£89,000) and taking out a foreign-exchange contract allows them to fix the price. This way they are able to focus on their business." Consider your finance options The government's Export Credits Guarantee Department (ECGD) provides short-term products aimed at SMEs. "We offer an expanded product range to SME exporters to give them confidence to trade and compete overseas when they are not able to get all the support they need from existing providers," says chief executive Patrick Crawford. Products available include export insurance policy and a bond support scheme as well as a bond insurance policy. "SMEs need to know that if they are not getting enough support from banks or the insurance market there is an alternative provider," says Crawford. "We hope we can complement the existing provisions from banks and providers of insurance against non-payment so that we address any market failures that get in the way of SMEs doing good business." Educate yourself If you're trading within Europe, legal and tax issues need special attention. "When people say the European Union is not a single market they are absolutely right," says Professor Richard Scase of Kent University. "In terms of professional services and legal arrangements there is an enormous diversity. I know people who have tried to set up businesses in Spain, or tried to do business there selling products, and they have had incredible problems getting licences." But, says Scase, although this appears a barrier especially for SMEs, it is not an insurmountable one. "It does appear complex and frightening and they may think it is not worth the effort, but it is more straightforward than it first appears." Scase says that businesses must get information on a country's legal system to understand contracts, taxation and licences. One way is to seek support from an accountancy firm. "Companies like KPMG are everywhere and if SMEs can't afford the big boys there are smaller companies that can help. Language and advice won't be a problem, nor will access. Do your research and get the advice," he adds. Invest in your credit team According to Marc Jones, sales director of Atradius, a versatile credit team is vital for a company to succeed at international trade. He believes that businesses need to invest in this area substantially. "A credit team in 2011 is very different from what it was in 1999. In the last 10 years credit teams have become far more the hub of trade, particularly international trade," he says. "Credit managers are no longer profit and loss analysts, or balance sheet analysts. Good credit managers have to know as much about relationship work as account managers or salesmen because the credit manager has to juggle so many relationships." He predicts credit will be a key part of global economic recovery. "Anybody thinking whether they can afford to upskill their credit team by investing in relationship skill is asking if they want to be involved in international trade," he says. "Over the next five years extension of credit and the management of credit will be key to international sales growth. No one will double or triple trade values by bank transfer and cash terms only." World of opportunity Tina Nielsen reports from the IoD International Trade Forum There was plenty of advice available to delegates at the IoD International Trade Forum in June. The annual event is a chance for UK businesses to gain practical tips from experts as well as inspiration from businesses already successful overseas. Susan Haird, acting chief executive of UK Trade & Investment, said trade and investment is a government priority. "This government wants to help British companies overseas," she said before announcing the launch of a UKTI peer-to-peer online forum where SMEs will be able to exchange experiences. Business case studies came from two successful SMEs - Cocorose London and A Suit That Fits. Janan Leo, founder and creative director of shoe manufacturer Cocorose, has been selling into several countries while manufacturing in the UK and China. She advised delegates to invest in building relationships with overseas partners. "Make sure they are fully aware of your brand and the standards of quality you expect," she said. A session with Atradius covered south-east Asia, central Europe, (including Russia and Ukraine) and Italy. The high-growth Bric countries still present many opportunities to UK businesses but are full of pitfalls for those unprepared. Problems include late payment or non-payment, a lack of transparency, cultural differences and currency fluctuation. Michael Frigo, Atradius expert for south-east Asia, said: "You need to understand your product differentiation and whether it is priced right.?Also make sure that you are entering the market with a really different proposition." Baroness Wilcox, minister for intellectual property, announced that a network of IP attachés will be set up in overseas markets to help businesses on the ground. "This will help British companies protect their IP from within overseas markets," she said. UK companies invested £17bn in 7,000 projects in China last year. "China is moving away from manufacturing for export to focus on domestic consumption so that brings new opportunities," said Ralph Rogers from the China-Britain Business Council. And Brazil is investing heavily in infrastructure. With big sporting events such as the 2014 World Cup and the 2016 Olympic Games on the horizon, the country will be seeking the best suppliers. "There has been under-investment in Brazilian infrastructure. Ports and airports need updating," explained Jaime Gornsztejn from the Brazilian Chamber of Commerce in Great Britain. "If you go to Brazil and you bring innovation, you will be successful." Delegates also heard from Richard Heald of the UK India Business Council. He said it was crucial to visit India before launching there. "Due diligence is vital and many choose to tie up with a local partner in order to understand the market better," he said. Heald encouraged delegates to enter the Indian market despite potential difficulties. "The real risk is not being aware of the opportunities." Read the full article on Director magazine's website http://www.ukibc.com/news_and_media/news/110721-expanding-abroad.aspxThu, 21 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110721-expanding-abroad.aspx NEW DELHI: Finance Minister Pranab Mukherjee on Wednesday sought to dispel the impression of a policy paralysis hurting the economy, citing legislative initiatives for reform in areas like mining, food security, taxation, infrastructure and the financial sector, but ascribed the tardy progress of work to "processes that cannot be overstepped". There was some sort of cynicism that "nothing is moving... that we have given up", the minister admitted, but sharply questioned the rationale for the same. In an interaction with a group of journalists here, he listed out the economic Bills that have either been tabled in Parliament or are about to be introduced, such as those on pension reforms, GST, Direct Taxes Code, mining (MMDR Bill) and the effective mechanism of the groups of ministers (GoMs) to press his point. He expressed the hope that Parliament would ratify at least two important economic Bills in the monsoon session. Read the full article on Financial Express website http://www.ukibc.com/news_and_media/news/110721-no-policy-paralysis.aspxThu, 21 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110721-no-policy-paralysis.aspx Anupam Mittal, founder & CEO, People Group in an interview with ET. Excerpt. Social networking websites function like an online community of internet users. They certainly are not a threat for People Group. Shaadi.com and Makaan.com are serious websites, meant for people who are genuinely looking to find a life partner or a home. The objectives of the two user segments are very different. People don't log onto social networking sites to search for these services, it's meant to keep people connected. Also, there's a large difference between what social networks provide and what social applications should provide. Social networks are made up of individuals who can connect with others from a relevant community or having common interests. A social networking application or a service is the platform which enables a user to connect to various networks and conduct common activities. Read the full article on Economic Times website http://www.ukibc.com/news_and_media/news/110721-social-networking.aspxThu, 21 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110721-social-networking.aspxLondon, 21/07/2011 UKIBC Corporate Member Chris Parsons is 50 this year! To mark that historic and unavoidable occasion, he's aiming to raise a quarter of a million dollars for one of the Loomba Foundation's core programmes: educating the children of poor widows in India. To date he's raised US$149,962.11 A partner with international law firm Herbert Smith and chair of its India Group, Chris is well aware of the plight faced by millions of poor widows and their children. He hopes his birthday resolution can make a significant difference to the lives of many sufferers. Chris and his friends Duncan Ross, Bill Roden and Kim Darton will set off on their bikes from London to Portsmouth on 5 September 2011. There they will board the ferry to St. Malo, from where they will continue their journey all the way down France, across the Pyrenees and the whole length of Spain. When they finally reach their destination, they will have completed no less than 2,500 kilometres. Sponsor Chris and help the cause on the Loomba Foundation's website http://www.ukibc.com/news_and_media/news/110721-sponsor-chris-parsons.aspxThu, 21 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110721-sponsor-chris-parsons.aspx MUMBAI: Tata Motors is considering pooling engine production. Ratan Tata, chairman of the Indian holding group whose automotive business owns Jaguar Land Rover, has spoken of setting up joint engine production for its mass-market Indian operations and the two UK premium brands. JLR, which specialises in high-end executive saloons and four-by-fours, had in the past spoken of building engines in the UK or India, but this is the first time Tata Motors has spoken of combining the two parts of its business. "To optimise the synergetic strengths between JLR and Tata Motors in India, an examination is also under way on a joint engine development programme which would have manufacturing facilities both in the UK and India", Mr Tata said in the company's annual report, released on Monday. JLR currently gets its engines from Ford Motor, which sold the premium carmakers to Tata for $2.3bn in 2008. Joint engine development with India's largest carmaker - best known for the tiny, cheap Nano - could be a sensitive topic for Jaguar and Land Rover on the competitive premium-car market. Tata is investing at least £5bn over the next five years to improve the quality of the car brands' products and designs, as it takes on Germany's larger premium car marques. Jaguar's image took a knock under Ford's ownership, when the brand's X-Type car was criticised for having too much in common with the Ford Mondeo. However, since then carmakers - including the German premium producers - have established increasingly global manufacturing operations or teamed up with mass-market rivals, as they seek to cut costs and build cars closer to where they sell them. Read the full article on Financial Times website (free registration required) http://www.ukibc.com/news_and_media/news/110721-tata-motors-pooling.aspxThu, 21 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110721-tata-motors-pooling.aspx Three of India's largest mobile operators - Bharti Airtel, Vodafone Essar and Idea - have reportedly signed agreements to allow for 3G roaming across each others' networks. The deal covers inter and intra-circle roaming agreements that could eventually enable each operator to provide services India-wide, The Hindu said, quoting Vodafone Essar. Due to spectrum scarcity, Bharti, Vodafone and Idea - India's top three GSM operators - own 3G licenses in only 13, 11 and nine respectively of India's 22 telecom circles. The agreement could enable this limitation to be overcome. Already, Vodafone has launched 3G in the Andhra Pradesh and Kerala circles through an agreement with Idea, and the latter has arranged to introduce 3G in Delhi and Kolkata in a reciprocal deal. Economic Times reported that the operators have not divulged revenue sharing agreements. A 3G roaming deal between the operators has been expected for some time, and in March had been rumored to be close to being worked out. Each operator paid high prices for the 3G licenses they do hold, with Bharti laying out 122.9 billion rupees ($2.76 billion), Vodafone 116.2 billion and Idea 57.7 billion. Read the full article on TelecomAsia.net website http://www.ukibc.com/news_and_media/news/110722-bharti-vodafone-idea.aspxFri, 22 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110722-bharti-vodafone-idea.aspx Wipro's CEO of IT services TK Kurien is betting on higher value-added services to trigger faster growth in a rapidly changing IT world. He talks to FE's Goutam Das on the firm's strategy to sail through a volatile economy. Now with the restructuring done, when can we expect to see the growth momentum back? We see activity on the ground as far as momentum is concerned. In some verticals, we are seeing that translate into results. It will take 2-3 quarters after we have finished the restructuring to see the impact. So, we will see the impact in the third or fourth quarter of this fiscal year. By impact, do you mean the sales engine is starting to fire all over again? We went from negative guidance to 0-2% guidance on an organic basis. That has to go up. With the SAIC acquisition, we have gone up to 2-4% on the guidance - SAIC will give us roughly $40 million. However, at the end of the day, the game will be played on two fronts. It will be played on value-added services and at the bottom end, it will be driven by volume. So, we will have to defend what we have in terms of volume and grow new services for remaining relevant in the future. That is the direction where we are headed. How is Wipro preparing for the value-added services game? We have called out three themes which we believe are going to be the mega themes of the future. One, consumerisation of IT corporate applications is now running on iPad. What's going to happen is intelligence and computer will move to devices that are mobile. This presents a complete different set of services. Second, is the variabalisation of IT. In the past, IT used to be all about let me take this work to India and do it cheap. But the cost remained fixed. Now, people want to variabalise cost with cloud. From an analytics perspective, how do I do things better? Those are going to become the trends. In manufacturing, 30% of the new booking we had this quarter came from cloud. Behind this, there are some technology components that are critical - cloud, mobility and analytics. We are seeing uptake in some; in the next few quarters, we want to ensure that all our solutions come together around these three themes. Read the full article on Financial Express website http://www.ukibc.com/news_and_media/news/110722-value-added-services.aspxFri, 22 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110722-value-added-services.aspxNEW DELHI: CII has suggested that Government should facilitate fast track clearances for coal mining projects through a single window inter-ministerial body. The suggestion comes in the wake of growing apprehensions that coal shortages could trip the power capacity addition targets of 90 to 100 GW during the 12th Plan (2012-17) period. Coal India Ltd has scaled down its production targets for 2011-12 to 452 million tonnes, down from the 460.5 million tonnes targeted in year 2010-11. The company could only produce 431.32 million tonnes in 2010-11 due to delays in getting forest clearances, non-completion of some contracts due to litigations and law and order problems. Also, the inadequate availability of rakes last year has led to a pile up of coal stocks at the pit heads of various mines. "Power shortages due to lack of coal may impact the industry severely unless these issues get addressed," says Mr Chandrajit Banerjee, Director-General, CII, said in a statement. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110725-cii-fast-track.aspxMon, 25 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110725-cii-fast-track.aspx KOCHI: Manappuram Health Care Ltd, a venture of the Manappuram Group, has entered the pharmacy retail business under the brand name MAcare Pharmacy. The first retail outlet was inaugurated at Valapad in Thrissur on Sunday. The company is at present implementing an expansion plan by setting up around 400 medical, dental clinics and diagnostic laboratories in different locations in South India at an investment of over Rs 1,000 crore . The state-of-the-art diagnostics laboratories with a 3 Tesla MRI scanner, will come up in Kochi, Thiruvananthapruam and Kozhikode. Pharmacy retailing, another arm of the health care venture, aims to set up retail stores of around 500 in all major cities of South India. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110725-manappuram-health-care.aspxMon, 25 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110725-manappuram-health-care.aspx LONDON: George Osborne will on Monday hail an alliance between BP and India's Reliance Industries as evidence that British companies "are competing with the best in the world", as he looks for bright spots in a generally gloomy economic backdrop. "Britain is now making the largest foreign investment in India," Mr Osborne, chancellor of the exchequer, will say at a meeting with Pranab Mukherjee, his Indian counterpart. Talks in London are aimed at bolstering trade between the two countries. Ahead of the meeting, the Indian government approved a deal between BP and Reliance Industries to increase oil and gas production, said to be the largest single foreign investment in India. The BP investment in Indian gas and oil could eventually be worth up to $20bn. Read the full article on Financial Times website (free subscription required) Read 'India approves BP's $7.2bn deal with Reliance (22 July)' on Financial Times website (free subscription required) http://www.ukibc.com/news_and_media/news/110725-osborne-hails-bp-deal.aspxMon, 25 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110725-osborne-hails-bp-deal.aspx NEW DELHI: Tuesday is going to be crucial for Cairn India Ltd as its board meets for the first time since the Government's conditional nod for the Cairn Energy-Vedanta Resources deal. The board, in its earlier two meetings (held on February 10 and May 25), was unanimous that the company would not share the royalty burden of the Rajasthan oilfields or give up its right to contest the cess claim. If this is any indication, there is unlikely to be any change in its stance at the meeting, which will be held in Edinburgh to approve its first quarter results. The board meet is certain to test the persuasive skills of Sir Bill Gammell, Chairman, Cairn Energy, as well as Cairn India. Further, any changes in the production sharing contract (PSC) can be carried out only with the consent of the company's board. The Government has set certain pre-conditions, including the issue of royalty raised by ONGC - royalty to be shared by all stakeholders - and Cairn to withdraw all arbitration cases. Cairn Energy Plc proposes to sell majority stake in Cairn India to Vedanta Resources. Cairn Energy and Vedanta Resources needed the Government's nod for selling and acquiring, respectively, 30 per cent stake in Cairn India. Vedanta and its group company currently hold 28.5 per cent in Cairn India. Cairn Energy's stake in Cairn India stands at 52.2 per cent. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110725-vedanta-deal.aspxMon, 25 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110725-vedanta-deal.aspx LONDON: International, award-winning Architecture firm BENOY is delighted to be signing a contract with Indian Developer Supertech Limited in the presence of Rt Hon George Osborne MP, Chancellor of the Exchequer and Shri Pranab Mukherjee, Finance Minister of India, at the UK-India Economic and Financial Dialogue in London today. Benoy is also pleased to announce two further new contracts with Prestige in Bangalore and Forum Projects in Adityapur, and the completion of Market City, Pune with The Phoenix Mills Limited. The three new contracts, with a combined fee value of £1.5Million, will broaden and enhance Benoy's India portfolio and will lead to the creation of a dedicated India Team in the company's London office. With Supertech Limited, Benoy will design a major Mixed-Use Masterplan for a 300,000M² site in Sector 94, Noida . Overlooking the Noida Park Nature Reserve and utilising the connectivity of the Noida Expressway, the development will offer breath-taking panoramic views in a luxurious and unique environment. Comprising of retail, office space, a hotel, leisure and entertainment, and a signature 80 storey tower, Benoy's design vision is to offer Noida a world-class destination that will lead the urban renaissance in the region. With Prestige, Benoy will bring its proven Architecture expertise and global brand to bear on Prestige Falcon City, Bangalore . The latest in Prestige's impressive portfolio of Shopping Centres across Southern India, Benoy has been appointed as the Retail Architect to deliver the centrepiece of a wider masterplan. The 70,000M² project is part of the historic Khoday Brewery development and the design will respond to the site's context and antecedents. Set within a woodland area, the Benoy Team will incorporate rich landscaping, both inside and outside. Benoy is also honoured to announce a contract with Forum Projects to design an integrated Mixed-Use Masterplan in Adityapur . This will be a catalyst for growth and a landmark scheme for the Adityapur Industrial Area Development Authority (AIADA) in the state of Jharkhand. The scheme will comprise of offices, retail, hotel, residential, serviced apartments, club and hospital in an 8-acre site. With The Phoenix Mills Limited, Benoy is delighted to announce the completion of Market City, Pune . A major Mixed-Use development with iconic frontage along Nagar Road, Markey City features a five-storey retail centre, leisure, a 5 Star hotel, serviced apartments and two commercial towers. At 210,000M², Market City will transform Pune's urban offer by providing a world-class destination. Chairman of Benoy, Graham Cartledge CBE, said : "Benoy started working in India in 2006. Over the past five years, the global Benoy team has worked tirelessly to establish a reputation as one of the most recognised international architectural brands and a leading player in India. We are delighted to announce the completion of Market City in Pune and three new landmark contracts for Benoy in India." Read more news on Benoy's website http://www.ukibc.com/news_and_media/news/110726-benoy-india-contract.aspxTue, 26 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110726-benoy-india-contract.aspx MUMBAI: Foreign institutional investors (FIIs), the main drivers of the Indian equity market, have upped their stake in 12 Sensex companies in the past quarter. Of the 24 Sensex firms that have disclosed their shareholding pattern for the quarter ended June, FIIs increased their exposure in 12 companies. FIIs have increased their stake by more than 1% in Larsen & Toubro and Hindustan Unilever. Hero Honda Motor (0.88%), Infosys (0.76%) and HDFC Bank (0.7%) also saw a substantial increase in their foreign institutional holdings. State Bank of India's FII holding decreased the most by 1.92%. JP Associates (1.42%), DLF (0.82%), and Tata Motors (0.62%) also saw significant erosion in FII exposure. In terms of value, HDFC leads the pack with a total FII investment of R60,030 crore, followed by Infosys (R58,312 crore) and Reliance Industries (R49,999 crore). Read the full article on Financial Express website http://www.ukibc.com/news_and_media/news/110726-fiis-hike-stake.aspxTue, 26 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110726-fiis-hike-stake.aspx LONDON: BJP president Nitin Gadkari has invited British and European Union investments in the BJP-ruled States in the field of green technologies and non-conventional energy sources like solar power, wind energy, bio-energy, bio-fuels etc. Gadkari, who is on a six-day visit to the UK, called on the British Foreign Secretary William Hague here last evening and explored the potential of enhanced Indo-British cooperation in various fields. Hague told Gadkari that Britain and the European Union countries have the expertise and technologies in these fields and would be willing to share with India. Hague said Britain would like India to open the retail, insurance and banking sectors and offered enhanced British investments if New Delhi removed some of the trade barriers. Outlining the BJP policy on opening of the retail and insurance sectors, Gadkari said a debate on these issues was going in the economic policy forums of the party with a view to evolving a consensus on such sensitive matters. He said the nine BJP-ruled States accorded highest priority to rural development,irrigation and water management to augment agricultural output. The other areas of focus for the BJP ruled states were infrastructure development, and more specifically power and road development. The BJP, when in power, would like to promote greater Indo-British cooperation in the field of R & D, Science & Technology, advanced manufacturing, green technologies, non-conventional energy, defence, skilled development and education. The British Foreign Secretary invited Indian companies to explore the tremendous investment potential in Britain and other European Union Countries and agreed to intensify efforts to prepare favourable ground for them including exchange of information. He informed Gadkari that India has already emerged as the second largest investor into the UK with a large number of Indian companies working in Britain and more would be welcome. Read the full article on Daily Pioneer website http://www.ukibc.com/news_and_media/news/110726-gadkari-invites.aspxTue, 26 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110726-gadkari-invites.aspx Himachal Government today signed loan agreement with Asian Development Bank for strengthening tourism infrastructure in the state under Infrastructure Development Investment Program for Tourism. The agreement was signed by Smt. Manisha Nanda, Principal Secretary Tourism and Mr. Prodyut Dutt, Officer Incharge, India Resident Mission Asian Development Bank on behalf of respective parties. The senior officers of the Ministry of Finance, Asian Development Bank and Dr. Arun Sharma, Mission Director of the Project and other officers of Tourism Department were present on this occasion. Smt. Manisha Nanda said that under the agreement Asian Bank Development will provide $ 95.16 million to the State for developing tourism infrastructure and the project will be 90:10 grant: loan as per the policy of the Union Government to Himachal Pradesh. The period of the Investment Program will be up to 30th June 2020 while the closing date for Project 1 is 30th June 2017. Principal Secretary said that the State Government has notified a State-Level Empowered Committee (SLEC) as per the requirement of the A.D.B in February, 2011 under the Chairmanship of the Chief Secretary, including Secretaries of relevant line departments and Director Tourism as its Member Secretary. The Principal Secretary, Tourism, is the Vice-Chairperson of the committee and the SLEC has been entrusted with the responsibility to provide overall advice and guidance including policy directions to the EA, and to accord all approvals for the Project. So far two meetings of the SLEC have been held on 10th February and 11th July 2011. Smt. Manisha Nanda Principal Secy. Tourism Himachal Pradesh said that The Investment Program will target enhanced economic growth and provision of livelihood opportunities for local communities through tourism infrastructure development with a focus on preservation and development natural and cultural heritage and incidental services. The Investment Program will consists five components viz. (i) Urban Infrastructure and Service Improvement; (ii) Connectivity Improvement; (iii) Quality Enhancement of Natural and Cultural Attractions; (iv) Community-based Activities; and (v) Capacity Development, Community Participation and Project Management. Read the full article on Himachal Govt website http://www.ukibc.com/news_and_media/news/110726-himachal-signs-adb.aspxTue, 26 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110726-himachal-signs-adb.aspx "I want to make supply chain management sexy," says Anshuman Singh, Managing Director and CEO at Future Supply Chain Solutions, which is part of the Future Group. "It's not just about dusty trucks and dark warehouses. It's also about technology, efficiency and profits. In building our infrastructure, we realised that we were at least half a decade ahead of the competition. That's when we decided to hive off the arm into a separate company and offer services to others," he says. Logistics in India is set to boom. Some insiders peg the market at $100 billion, or Rs 4.5 trillion (1 trillion equals 100,000 crore), and see it growing at a cumulative annual rate of 25 per cent in the next three to four years. Others estimate that logistics is bigger than even the automotive sector, and accounts for 13 per cent of GDP. The industry is highly fragmented: the top 10 players earn just two per cent of revenues. Sensing opportunity, at least three Indian conglomerates, besides the Future Group, have taken bold steps in the past three years. They are the Tatas, the Mahindras and TVS. Others, including Reliance Industries, have also made logistics forays, but none of them can match the above four for scale of operations and the amount of business they can draw from outside the group. A host of acquisitions has also taken place in the sector, with Indian firms such as TVS buying overseas, and foreign companies such as Hitachi Transport System and Nippon Express buying in India. Private equity deals and entrepreneurship have picked up pace too. Gagan Seksaria, Associate Director for Transport and Logistics at consultancy KPMG, says: "Credible thirdparty players in logistics have emerged. Companies feel confident to hand over their logistics functions to them. So large groups that already had logistics arms now see the opportunity, and feel confident to spin them off as separate businesses." Read the full article on Business Today website http://www.ukibc.com/news_and_media/news/110726-indian-inc-wakes-up.aspxTue, 26 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110726-indian-inc-wakes-up.aspxA series of trade deals between India and the UK worth "billions of dollars" were confirmed today, George Osborne announced. The Chancellor met with Pranab Mukherjee, finance minister of India, to discuss a number of contracts as well as thrash out ways of securing more cooperation in the future. Mr Osborne said he "particularly welcomed" the Indian government's approval of a deal between BP and Reliance Industries to increase oil and gas production, which was the "single largest foreign investment in India" and could eventually be worth up to 20 billion US dollars (£12 billion). At a press conference in the Foreign and Commonwealth Office following the UK-India Economic and Financial Dialogue talks Mr Osborne also said a number of smaller scale "significant" deals had been confirmed as well. He added: "Overall Britain is now the largest source of foreign investment in India. Our trading relationship is not only becoming broader but deeper too. "In total over 3,000 British firms are investing in or are planning to invest in India. "Both Finance Minister Mukherjee and I agreed that we want to see the number involved and the total trade rise significantly. "We focussed our discussion on strategic issues to support this and the jobs and prosperity it will bring both to India and to Britain." Read the full article on Asian Image website http://www.ukibc.com/news_and_media/news/110726-uk-agrees-major.aspxTue, 26 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110726-uk-agrees-major.aspx NEW DELHI: Vodafone, which had a rough patch with its Indian partner Essar, today pitched for India allowing 100 per cent FDI in telecom. Responding to a discussion paper of the Department of Industrial Policy and Promotion (DIPP) Erik De Rijk, Managing Director Vodafone International Holdings BV, said the sectoral FDI cap of 74 per cent in the Indian telecom sector "necessarily forces all foreign companies to operate as joint ventures". Pointing to not-so-pleasant ties between several JVs, he said "the track-record of joint ventures (JVs) have been well researched, and the problems of longevity and conflicting objectives arising between partners over time are well documented". He said forcing the foreign companies enter into a JV with a local partners puts the former into a disadvantage. "This creates competitive dis-advantages for such JVs - for example Indian competitors in the telecom sector can be wholly owned and therefore enjoy the privilege of greater strategic clarity and flexibility as opposed to the JVs between the foreign and Indian enterprises," he said. Vodafone, which had a JV with the Essar Group saw a souring phase over valuations. The Ruias' owned Essar Group has since exited. FDI upto 74 per cent in the Indian telecom sector and the Indian holdings in the Vodafone joint venture are presently well disbursed. The DIPP had put out a discussion paper on relevance of FDI caps in different sectors. Vodafone, headquartered in the UK is India's second biggest telecom operator. The company has operations in 30 countries. Read the full article on Deccan Herald website http://www.ukibc.com/news_and_media/news/110726-vodafone-for-100pc-fdi.aspxTue, 26 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110726-vodafone-for-100pc-fdi.aspxKOLKATA: As many as 11 engineering institutions in West Bengal have qualified for grants through Phase II of Technical Education Quality Improvement Programme (TEQIP). The State government will sign a MoU with all the 11 institutions on Wednesday. Out of the 11 colleges, eight are government and government-aided institutions, while three are private colleges. Over the next four years, the government colleges will get a funding of Rs 10 crore each while the private ones will get Rs 4 crore each, according to a senior official. Cost share The Centre and State government will share the cost in the ratio of 75:25. The funds will be utilised for scaling up of postgraduate education, introduction of demand-driven research and development and innovation, establishing centres of excellence for focused applicable research, training of faculty for effective teaching and enhancing institutional and system management effectiveness. Selected colleges The eight government colleges selected for TEQIP Phase II are: RCC Institute of Information Technology, College of Engineering and Management, Kolaghat, Bankura Unnajani Institute of Engineering, University Institute of Technology, Burdwan University, Government College of Engineering and Leather Technology, Kolkata, Calcutta Institute of Engineering and Management, West Bengal University of Technology, Kolkata, Birbhum Institute of Engineering and Technology, Birbhum. The three private colleges include Heritage Institute of Technology, MCKV Institute of Technology and Narula Institute of Technology. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110727-11-engineering.aspxWed, 27 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110727-11-engineering.aspx Cairn India Ltd. (CAIR), the energy explorer that's the target of a takeover by Vedanta Resources Plc (VED), advanced in Mumbai trading after higher output and prices boosted quarterly profit 10-fold. Net income at Cairn India and its units rose to a record 27.3 billion rupees ($618 million) in the three months ended June 30 from 2.8 billion rupees a year earlier, the company based in Gurgaon near New Delhi said in an e-mailed statement yesterday. The median estimate of 18 analysts compiled by Bloomberg was a profit of 26.3 billion rupees. Shares rose as much as 1.7 percent. Profit at the unit of U.K.-based Cairn Energy Plc (CNE) has surged since the explorer started producing oil from India's biggest onshore oil deposit in 2009. London-based Vedanta's proposed $8.7 billion acquisition was approved by Prime Minister Manmohan Singh's cabinet on June 30 on the condition it pays royalties on output from the field in western Rajasthan state. "Higher production from here on will depend on how soon everything with the stake sale and various approvals fall into place," said Sandeep Randery, an analyst with Brics Securities Ltd. in Mumbai. "The additional royalty they may have to pay would be a burden." Average daily production at Cairn's Rajasthan block almost tripled to 125,127 barrels from a year earlier, the company said. The oil was sold at $105.90 a barrel compared with $71.80 a year earlier. Read the full article on Bloomberg website http://www.ukibc.com/news_and_media/news/110727-cairn-india-advances.aspxWed, 27 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110727-cairn-india-advances.aspxNEW DELHI: Cairn India, the firm that gave the country its largest onland oil discovery in more than two decades, was today accorded 'Superbrand' status. The award was received by Cairn India Director, Corporate Communications, Affairs & CSR, Manu Kapoor from Planning Commission Deputy Chairman Montek Singh Ahluwalia at a glittering ceremony here last evening. While membership in this exclusive association/club of brands is by invitation only and comprises global giants from across categories, this accreditation puts Cairn India in the elite club of other oil and gas peers like Reliance Industries and ONGC and technical companies like L&T. Cairn India on Tuesday reported a higher-than-expected growth in June quarter net profit, boosted by a rise in crude oil prices and increased output from its showpiece Rajasthan fields. The company's April-June quarter consolidated net profit rose 10-fold to Rs 2,726.6 crore. Besides Rajasthan, Cairn also produces oil and gas from two other blocks in India -- the Ravva fields off the Andhra coast and CB-OS/2 in the Cambay Basin in Gujarat. Read the full article on Economic Times website http://www.ukibc.com/news_and_media/news/110728-cairn-gets-superbrand.aspxThu, 28 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110728-cairn-gets-superbrand.aspxMUMBAI: In what is being billed as the largest overseas acquisition by an Indian travel company, Cox & Kings Ltd has decided to buy UK's Holidaybreak for £312 million (Rs 2,300 crore). The two companies signed an agreement today. Holidaybreak's shareholders will get 432.1 pence per share in cash, a premium of 35.5 per cent to the closing price of the company's shares on July 22. "We think we have got a fair price," said Cox & Kings Executive Director Peter Kerkar. Cox & Kings - the world's oldest travel company, dating back to 1758, was itself a British company before it was bought by its present promoters - hopes to conclude the deal by September. In the event of the deal falling apart because of a rival bid or due to shareholders' rejection, Cox & Kings will get 1 per cent of the deal price. Nearly 32 per cent Holidaybreak shareholders have already approved the deal. It requires approval from 75 per cent shareholders. After this, the agreement will be sealed by a court. The acquisition will give Cox & Kings a foothold in camping, adventure tourism and student tour segments. "It's an all-cash deal. We have tied up the funds. This includes Rs 900 crore from our cash balance. The rest will come from dollar-denominated debt from Axis Bank," said Cox & Kings CFO Anil Khandelwal. This is its ninth acquisition in the travel sector. It is making this acquisition through its UK-based subsidiary. Kerkar said Cox & Kings would use the expertise of Holidaybreak to promote education tours in India. "We believe education tours are the way forward," he said. "We are expecting a two-way synergy," he said, adding that Holidaybreak can expect to get good business from Indian travellers who tend to go abroad in April-June, which is a lean season in Europe. Read the full article on Business Standard website http://www.ukibc.com/news_and_media/news/110728-cox-kings-to-buy.aspxThu, 28 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110728-cox-kings-to-buy.aspxNEW DELHI: This month, India's largest make-up brand Lakme announced the launch of Lakme Absolute, a high performance long wear make-up line co-created by fashion designer Manish Malhotra. Last month, watchmaker Timex said it will take its bridal line of jeweled watches designed by Tarun Tahiliani, and branded 'TT for Timex', to the US and Canada next year. Last to last month... Well, there are plenty of examples for the fashion fraternity's growing bonhomie with India Inc over the last couple of years. Marketers are increasingly leaning on homegrown designers for business associations ranging from signature lines to limited-edition special range to woo India's new class of young and ambitious consumers who would happily pay a premium to stand out in a crowd. "To build a stronghold in the market, brands are exploring ways to connect with the Indian audience. Indian designers are the best bet for the same, since they have a specific style and can fuse Indian and international designs brilliantly to develop an aspirational product," says Timex India Managing Director & CEO VD Wadhwa. Read the full article on Economic Times website http://www.ukibc.com/news_and_media/news/110728-its-in-fashion.aspxThu, 28 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110728-its-in-fashion.aspxMUMBAI: The Indian media and entertainment sector will grow to Rs 1.2 lakh crore by 2015, according to a PwC report. The 'Indian Entertainment and Media Outlook' predicts that the sector will grow at a CAGR of 13.2 per cent between 2011 and 2015. PwC estimates that the sector, comprising television, film, print, radio, internet advertising, OOH, animation (including gaming and visual effects) and music industries, earned Rs 64,600 crore in revenue in 2010. According to PwC, the television industry will continue to hold the largest chunk of revenues within the sector in the next five years. From a size of Rs 30,650 crore in 2010, the television industry is expected to rise at a CAGR of 14.5 per cent to reach Rs 60,250 crore. Within television, the report accounts revenues generated by content producers (Rs 1,200 crore in 2010), advertising revenues sold by channels (Rs 10,150 crore) and subscription revenues through distribution (Rs 19,200 crore). All three streams are expected to grow at around 14.5 per cent CAGR up to 2015. Mr Timmy Kandhari, Leader - Entertainment and Media practice, PwC India, noted that ad revenues will have to be supplemented with subscription growth for sustainable and profitable growth of the entire media and entertainment sector. On television, he underlined the need for addressable digitisation. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110729-media-entertainment.aspxFri, 29 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110729-media-entertainment.aspxNEW DELHI: Mobile value added services (VAS) such as music, news and internet will be a Rs 67,100-crore market by 2015 contributing 31 per cent to overall wireless revenues, says a study. "... growth will be driven mainly by mobile data (both on handsets and dongles/connected computing devices) contributing 54 per cent of the overall MVAS market by 2015," according to the Internet Mobile Association Of India ( IAMAI)-Analyses Mason Vision Document on Mobile VAS. The report has been developed after detailed discussions with over 50 players across the telecommunications industry, including leading operators, technology platforms, and VAS players. "The mobile value added services are minuscule at present in comparison to its potential and the government would make appropriate efforts to put the industry on an equitable and sustainable growth path," Minister of State for Communications and IT Sachin Pilot said. Read the full article on Economic Times website Read the original article on IAMAI website http://www.ukibc.com/news_and_media/news/110729-mobile-vas-rs671bn.aspxFri, 29 Jul 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110729-mobile-vas-rs671bn.aspxHYDERBAD: Indian Overseas Bank (IOB) is planning to open 40 Small and Medium Enterprises (SMEs) cluster branches during this year. "The micro, mini and small enterprise (MSME) sector is one of the focus areas for us. We have applied for licence from the Reserve Bank of India to open SME cluster branches across the country,'' Mr M. Narendra, Chairman and Managing Director, IOB, told Business Line here on Thursday. Efforts were also on to launch a new scheme 'SME Instant Cash' to meet emergency working capital requirements of SMEs. CORPORATE CREDIT IOB is also focussing on tapping the business potential in the mid-corporate segment. "There is huge credit appetite among the mid-corporates particularly in tier II and tier III locations,'' the Chairman and Managing Director said. IOB had already sanctioned Rs 27,000 crore of corporate credit as on date including some loans sanctioned last year but were not disbursed yet. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110801-indian-overseas.aspxFri, 05 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110801-indian-overseas.aspxMUMBAI: GippsAERO, the aircraft manufacturing division of Mahindra Aerospace, and Rolls Royce have announced the signing of an agreement to partner on engine technology for a new aircraft. The companies signed an agreement to integrate the M250 B-17F/2 Rolls Royce engine into the GA10 aircraft. The GA10 is currently being developed by GippsAERO at its Morwell, Australia plant. The parties will work together to obtain Type Certification for the GA10 aircraft. The GA10 project is currently in the prototype design phase with certification process to begin in March 2012 and entry into service scheduled for 2013. GippsAERO expects that sales could reach up to 20 aircraft a year, in India, North America, Europe and Asia. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110801-mahindra-aerospace.aspxMon, 01 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110801-mahindra-aerospace.aspxNEW DELHI: The "mother" could well become the "granny" of all defence deals. India is likely to go in for another 63 fighters after delivery of the first 126 MMRCA (medium multi-role combat aircraft) if the "timelines" for its other fighter development projects are not met, say top defence officials. This would be the biggest overhaul of any air force in the world in such a short period. When the MMRCA selection process was initiated in mid-2007, the project cost was pegged at Rs 42,000 crore, or $10.4 billion for 126 fighters. But it will zoom well beyond $20 billion if India opts for 189 jets. Even with 126 jets, this is the biggest such fighter contract going around the world as of now. India is likely to go in for another 63 fighters after delivery of the first 126 medium multi-role combat aircraft if other fighter jet projects get delayed. The move comes even as the defence ministry is all set to open the commercial bids of the two jets left in the MMRCA fray -French Rafale and Eurofighter Typhoon, "within a week or two". Eurofighter Typhoon is backed by the UK, Germany, Spain and Italy. The ministry has already rejected "any scope for comeback" by other four jets, including the American F/A-18 s and F-16 s, ejected out of the MMRCA race in April on technical grounds after gruelling field trials. "We are looking for only 126 fighters. The first 18 jets will come from abroad, while the rest 108 will be manufactured by Hindustan Aeronautics Ltd after transfer of technology from end-2016 or early-2017 onwards," said a senior ministry official. Read the full article on Economic Times website http://www.ukibc.com/news_and_media/news/110802-iaf-63-fighters.aspxTue, 02 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110802-iaf-63-fighters.aspxTHIRUVANANTHAPURAM: The Kerala Government and Tata Consultancy Services have signed a memorandum of understanding for setting up a clutch of facilities in the State, involving big-ticket investments. TCS will invest Rs 1,000 crore to set up its global training academy at Technocity here, the TCS Chief Executive Officer and Managing Director, Mr N. Chandrasekaran, said. As part of the MoU, TCS will also set up software development SEZ campus at Technopark here and at Infopark, Kochi. The MoU was signed between the Additional Chief Secretary (Industries and IT), Mr T. Balakrishnan, and Mr Chandrasekaran, in the presence of the Chief Minister, Mr Oomen Chandy, at the golden jubilee celebrations of Kerala State Industrial Development Centre in Kochi during the weekend. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110802-tcs-to-invest-rs1000cr.aspxTue, 02 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110802-tcs-to-invest-rs1000cr.aspxCHENNAI: The National Automotive Testing and R&D Infrastructure Project (NATRiP), which envisages setting up testing and research centres at automotive hubs in the country, hopes to complete its initiatives in Chennai and Indore by the end of next year. The main objective of NATRiP is to create automotive testing and validation infrastructure to usher in global vehicular safety, emission and performance standards. The 300-acre facility in Oragadam, near Chennai will house full-fledged testing and homologation centre. "This will be completed by end of next year and serve the auto industry in and around Chennai and also create employment," said Mr S. Sundareshan, Secretary, Ministry of Heavy Industries. A similar project is also being undertaken in Indore and will be ready by December 2012. The facilities in Pune and Manesar are also being upgraded. The investment on the project is around Rs 2,200 crore. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110803-auto-testing-research.aspxWed, 03 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110803-auto-testing-research.aspxBANGALORE: India's top 200 tech firms reported combined revenues of US$ 84 billion (Rs 384,250 crore) in FY '11 to grow at 25%, the highest rate of growth in last 4 years. According to the annual research findings on the Indian IT industry carried out by Dataquest, the top 5 Indian tech companies in FY '11 were TCS, Infosys, Wipro, HP and Cognizant. The combined revenue of the Top 20 tech companies was US$ 54 billion (Rs 247,808 crore) in FY '11, an 8 percent increase from the previous year. The No. 6 slot went to the Indian subsidiary of the 100-year old global tech behemoth IBM while No. 7 and No. 8 slots went to HCL Technologies and hardware led HCL Infosystems. Mahindra Satyam, took the 17th slot - making a re-entry to the top twenty after two years. Revenues of the next 30 companies (Ranks 21-50) grew at 29%, faster than those of the Top 20 companies. Read the full article on Economic Times website http://www.ukibc.com/news_and_media/news/110803-top-200-it-companies.aspxWed, 03 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110803-top-200-it-companies.aspx NEW DELHI: IndiaFirst Life Insurance Company Ltd (IndiaFirst), the youngest life insurer in the Indian market, will soon raise fresh capital of Rs 150 crore to fund business growth, its Managing Director and Chief Executive Officer, Dr P. Nandagopal, has said. "An additional tranche of Rs 150 crore of capital will be introduced very shortly. Maybe in a month's time," Dr Nandagopal told Business Line here. The fresh capital infusion will come from existing shareholders. While Bank of Baroda holds a 44 per cent stake in IndiaFirst, Andhra Bank and UK-based Legal & General hold 30 per cent and 26 per cent stake, respectively. IndiaFirst, which commenced its commercial operations in November 2009, is currently capitalised at Rs 455 crore. The company had in the first 500 days after commencement of operations reported a total new business income of Rs 900 crore. IndiaFirst on Wednesday announced its foray into the health insurance segment. It has launched a unit-linked health insurance plan - IndiaFirst Money Back Health Insurance Plan. This is a long term savings-cum-health insurance plan for five or 10 years. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110804-indiafirst-enters.aspxThu, 04 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110804-indiafirst-enters.aspxCHENNAI: Coming as the first initiative to address the gap in power generation in the State, Tamil Nadu Government has awarded contract to Lanco Infratech to develop Gare Pelma-II Coal Block in Chhattisgarh and generate power. Chief Minister, J Jayalalithaa handed over the letter of award to Lanco Infratech Vice Chairman, G Baskar Rao in Chennai on Wednesday. The CM announced on the occasion that her Government has planned to undertake a massive capacity addition of 23,140 MW of power to the existing installed capacity of 10,237 MW during the next five years. Of this, 15,140 MW would be through thermal energy, 5,000 MW through wind energy, and 3,000 MW through solar energy. She invited national and international Investors to set up power plants and her Government would provide an enabling environment to them to set up the plants on a fast track mode. In order to develop the coal mine, a joint venture, Maha-Tamil Collieries was formed by the Tamil Nadu Electricity Board, and the Maharashtra State Mining Corporation. The Maha-Tamil Collieries had selected LANCO Infratech as the successful bidder. Read the full article on Economic Times website http://www.ukibc.com/news_and_media/news/110804-tn-awards-power.aspxThu, 04 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110804-tn-awards-power.aspxNEW DELHI: Foreign direct investment during April-May 2011 has registered 77 per cent rise at $7.78 billion, from $4.39 billion in the corresponding year-ago period. Services sector, which accounts for a chunk of FDI flows, registered 55 per cent rise to $910 million during April-May this fiscal, according to the Commerce and Industry Ministry data. In 2010-11, foreign investment in the services sector declined to $3.29 billion from $4.39 billion in 2009-10. The drugs and pharmaceutical segment attracted maximum investment during the April-May period at $2.94 billion. Power came second notching an investment of $582 million, followed by automobile ($412 million), construction ($252 million) and housing and real estate ($249 million), the data said. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110805-fdi-jumps-77pc.aspxFri, 05 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110805-fdi-jumps-77pc.aspxCHENNAI: The Tamil Nadu Government has detailed its approach to economic development with emphasis on the growth of agriculture and manufacturing for sustained development with services playing a supportive role. Presenting the 2011-12 Budget with a 'marginal revenue surplus' of Rs 173.87 crore, the Tamil Nadu Finance Minister, Mr O. Panneerselvam, said that the Government is aware that the services sector-led growth may not be sustainable in the long run. It will focus on the primary and manufacturing sectors as the main drivers to achieve an overall growth of over 10 per cent. However, critical bottlenecks in infrastructure development will be addressed to grow the services sector. In the first Budget following the Government coming to power, emphasis has been on fulfilling the electoral promises and about Rs 8,900 crore worth of new schemes and benefits have been announced. Agriculture Mr Panneerselvam spelt out the Government's strategy to grow agriculture with the objective of tripling farmers' income in the next five years. With a foodgrain production target of 115 lakh tonnes in the current year against last year's production of 85.35 lakh tonnes, the focus will be on increasing productivity through technology dissemination, mechanisation and supporting irrigation growth. Over Rs 3,000 crore crop loans - interest free for prompt repayment - will be disbursed through co-operatives in 2011-12. Allocation under various programmes has also been hiked, he said. Industry For industrial growth, the State Government will soon come out with a new industrial policy 2011 and sector-specific policies to catalyse automobiles and auto components, information and communication technology, biotechnolocy and pharma industries. A shelf of projects will be created for strengthening infrastructure for continuous implementation. The Chief Minister will head a Tamil Nadu Infrastructure Development Board to identify and expedite the projects through public sector and public private partnerships, he said. A new land acquisition policy will be formulated to create land banks for industry and infrastructure while protecting the interests of land owners. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110805-no-new-taxes.aspxFri, 05 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110805-no-new-taxes.aspxNEW DELHI: Tata Steel on Thursday said it will invest 7 million pounds (over Rs 500 crore) at its Hartlepool mill in the United Kingdom to enhance the welding and material handling capability. The 7 million pound investment will also include new cranes, handling equipment and storage at both mills, which will improve the quality of the finished product as well as customer service, the company said in a statement. "This investment will help us to retain our position as a world-leading supplier of pipes and tubes. Investments of this kind help us to build a sustainable future in Hartlepool, which I know will be welcomed by our skilled workforce and the local community," Tata Steel's Director of Tube Business Ramsay Ross said. The statement added that the investment forms a critical component of the company's five-year plan to increase the productivity and cost effectiveness of the Hartlepool plants. "Preparatory work has already begun at the mills, and the installation and commissioning of the new plant and equipment is scheduled for the first six months of 2012," it added. Read the full article on Economic Times website http://www.ukibc.com/news_and_media/news/110805-tata-steel-to-invest.aspxFri, 05 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110805-tata-steel-to-invest.aspxHYDERBAD: The Andhra Pradesh Government is contemplating an investment of around Rs 14, 000 crore in the next four years to strengthen the transmission and distribution infrastructure of the power sector. As part of its five-point programme, the Energy Department plans to install one lakh DTRS (Distribution Transformers) every year to resolve the low voltage and failure of transformers during both kharif and rabi season. The overall objective is to provide satisfactory power to over 32 crore consumers of all categories (domestic-181.54 lakh; agri-29.32 lakh and others 21.49 lakh). Five-point programme The Energy Department has decided to conduct a brain storming session of top officials of the power sector under the stewardship of Principal Secretary, Energy, Mr Dinesh Kumar, on August 16, to chalk out a strategy and sustainable programme for the effective implementation of the five-point programme - To improve power generation to bridge the gap between demand and supply, to strengthen the T&D network, reduce T&D losses, promote saving of energy in a big way, and finally re-focus on consumer initiatives. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110815-ap-govt-power.aspxTue, 16 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110815-ap-govt-power.aspxNEW DELHI: The Board of Approval (BoA) for Special Economic Zones (SEZs), headed by Commerce Secretary Rahul Khullar is scheduled to meet on September 9 to discuss matters like setting up of new such enclaves in the country. "The 48th meeting of the BoA for SEZs would be held on September 9," a Commerce Ministry official said. The Development Commissioners have been asked to forward the proposals regarding SEZs along with their comments at the earliest so that they could be placed before the meeting, the official said. The 19-member inter-ministerial BoA in its last meeting on July 22 gave extra time to 45 SEZ developers to execute their projects and allowed realty major Parsvanath group to withdraw its six SEZ projects in different states. Developers who got more time include Rahejas, Mukesh Ambani-promoted Navi Mumbai and GP Realtors. Several of the SEZ notified projects are grappling with the problems of land acquisition even as they face uncertainty over the tax regime, sources said. The SEZs which were touted as major vehicles for investment and export promotion were given a host of tax exemptions under a special SEZ Act of 2005. Exports from 143 tax tax free enclaves grew by 23 per cent during the first quarter of 2011-12 to Rs 72,255 crore over the same period last year. Under the law, incentives for SEZ units include 100 per cent income tax exemption on export profits earned for the first five years, a 50 per cent for the next five years and another 50 per cent exemption on re-invested profits in the following five years. Read the full article on India Times website http://www.ukibc.com/news_and_media/news/110815-board-approval.aspxMon, 15 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110815-board-approval.aspxBANGALORE: We are all aware of how technology plays an enabling role in many industries, but having another industry enable technology is not something that one reads about every day. IDC researchers said the use of SMS on basic mobile phones to keep in touch with consumers could support the shift to 3G-enabled mobile phones. Mr Ivano Ortis, Head-International, IDC Retail Insights, said rather than be held down by basic phones, retail could boost the growth of smartphones. "Retailers should use a mixed-mode approach so that both smartphone users and people who use basic phones can benefit," he said. Through a correct mix of traditional channels and innovative features like Quick Response (QR) codes, a barcode made up of geometric shapes instead of stripes that smartphones can read, retailers can invite consumers passing by high-traffic locations close to an outlet to take advantage of promotions, he pointed out. "A mixed approach can be adopted to address consumers with basic phones by promoting the retailer's phone numbers, which can be printed next to QR codes so that those with basic handsets can send SMSes to these numbers. After all, no matter what the channel is, retailer's marketing aim is the same: bring consumers to the store." People who use such SMSes on their basic phones are expected to graduate to smartphones because scanning QR codes is more convenient than sending SMSes. Though apps are a 'hot area' these days, Mr Ortis cautioned that they may not be the way to go for the retail industry. "More than investing on native mobile apps with limited flexibility, retailers operating in India should consider investments for a transition based on a mix of SMS-based marketing and mobile Web sites that are enjoyable with any smartphone," he said. Retail is one of India's largest industries and according to a study by AT Kearney, the retail sector in India is expected to touch $635 billion by 2015. In a press release issued earlier this month, IDC had said customer-loyalty applications and innovations in customer-relationship management will become the key drivers of retailers' 'go-to-market' strategies. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110815-retail-genie.aspxMon, 15 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110815-retail-genie.aspxNEW DELHI: Industrial growth has risen to 8.8 per cent in June, surpassing analyst expectations and also perhaps ruling out any immediate reversal in the Reserve Bank of India's tight monetary stance. The 8.8 per cent year-on-year rise in the Index of Industrial Production (IIP) - against 7.5 per cent in June 2010 - was led by manufacturing and, within that, the capital goods sub-segment. Manufacturing rose 10 per cent (7.9 per cent in June 2010), with the corresponding year-on-year increases for the other two major IIP constituents - mining and electricity - amounting to 0.6 per cent (6.9 per cent) and 7.9 per cent (3.5 per cent), respectively. But the most impressive growth of 37.7 per cent - against 3.7 per cent in June 2010 - was registered by capital goods, which is considered a proxy for investment activity in the economy. This is particularly borne out by production of 'electrical machinery & apparatus' and 'office, accounting & computing machinery', which have gone up by 88.9 per cent and 19.1 per cent, respectively. On the other hand, consumer spending does not appear all that robust. Both consumer durables (one per cent in June 2011 against 21.2 per cent in June 2010) and non-durables (2.1 per cent against 7.5 per cent) were down. Similarly, output of basic goods and goods was up by 7.5 per cent and 1.9 per cent, compared with the June 2010 levels of 3.7 per cent and 8.5 per cent. The not-so-buoyant industrial production is also evident from the negative growth rates posted by some important individual industries in June: Textiles (minus 4.3 per cent); chemicals & chemical products (minus one per cent); radio, TV & communication equipment (minus 10.1 per cent); and medical, precision & optical instruments, watches and clocks (minus 10.3 per cent). Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110816-manufacturing.aspxTue, 16 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110816-manufacturing.aspxBHUBANESWAR: Dhamra Port, which became commercially operational in May last, will soon formally be commissioned, according to Dhamra Port, CEO, Santosh Mohapatra. The Port, located in Bhadrak district, has two berths of 350 meter each and has a handling capacity of 25 million tons per annum [mtpa) and the 18 km channel of the port has a depth of 18 meter capable to handle vessels up to 1,80,000 DWT [dead weight tonnage]. "The Port has already handled 1.2 one million ton of imported cargo consisting of limestone and various grades of coal, vide 22 vessels of which 3 were trial shipments. We will gradually ramp up our capacity to 25 mtpa in three to four years in the first phase", Mr Mohapatra on Tuesday told ET. The Port, developed by Dhamra Port Company Limited - a joint venture of Tata Steel and Larsen & Toubro, has come up a cost in excess of Rs 3000 crore. Tata Steel and Larsen & Toubro hold equal stakes in the Dhamra port project. DPCL had signed a concession agreement with the state government to build and operate the port on BOOST (Build, Own, Operate, Share and Transfer) basis for a total period of 34 years including a period of 4 years for construction. The lease period may be renewed or extended for two additional periods of 10 years each on mutually agreed terms and conditions. The port now has a total work force of some 700 people including 400 from Bhadrak district, Mr Mohapatra said adding that priority has been given to land oustees and local people. Read the full article on Economic Times website http://www.ukibc.com/news_and_media/news/110817-dhamra-port.aspxWed, 17 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110817-dhamra-port.aspxNEW DELHI: Headline inflation dropped to an eight-month low last month, raising hopes that the rate of price rise may have finally peaked, though most experts expect the Reserve Bank's monetary tightening to continue. Wholesale price index, the most widely watched measure of prices in India, was up 9.22% in July from a year ago, data released on Tuesday showed. The rate of inflation was 9.44% in June. "We might have already gone past peak inflation levels, if our thinking on the amount of revisions is correct," said Saugata Bhattacharya, senior vice-president and economist at Axis Bank. "I am quite confident that a good monsoon will ensure moderation of inflationary pressure," Finance Minister Pranab Mukherjee said. Inflation for May was revised upwards by 50 basis points from 9.06% to 9.56%, below market expectations. While the consensus view is that inflation may have peaked, no one is betting on it falling sharply over the next few months. Chief economic advisor Kaushik Basu feels inflation may still climb to double digits and start declining only by December. "By our calculation, there are still a couple of more months of relatively same level of inflation (as in July). In fact, inflation could climb a little next month...it could be going to close to 10% for August," he said. WPI rose 0.3% in July, driven by a rise in 10 out of the 12 sub-indices. Food inflation also reversed its declining trend to rise to 9.9% in the last week of July. Commodity prices have moderated but not crashed. "We are unlikely to see a drop," said Indranil Pan, chief economist, Kotak Bank. Read the full article on Economic Times website http://www.ukibc.com/news_and_media/news/110817-inflation-dips.aspxWed, 17 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110817-inflation-dips.aspxMUMBAI: The number of millionaire households in India will grow from 2.86 lakh to 6.94 lakh between 2011 and 2020, a growth rate of 143 per cent, said a study by the Deloitte Center for Financial Services. The growth in millionaire wealth in India is expected to vary across different wealth groups. The $5-30 million group in India is likely to see the biggest growth rate at 161 per cent, followed by the $1-5 million group at 142 per cent and the over $30 million group at 115 per cent. The $1-5 million segment is likely to be largest, with 73 per cent of the millionaire households belonging to this group in 2020. Over the next decade emerging markets will see a significantly higher growth rate in millionaire households compared to developed markets. India is likely to experience the largest growth in total millionaire wealth (405 per cent). Among other BRIC nations, China's wealth among millionaires will grow by 394 per cent, followed by Brazil at 257 per cent and Russia at 241 per cent. However, only 0.3 per cent of households in India would hold more than $1 million in wealth, in 2020, the study points out. Among emerging markets, India is likely to have the highest per capita wealth among millionaires with $4.25 million - placing it ahead of the US. Read the full article on Hindu Business Times website http://www.ukibc.com/news_and_media/news/110818-millionaire.aspxThu, 18 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110818-millionaire.aspx NEW DELHI: The Spero Hospitals Group, a healthcare chain managed by Soalni Healthcare, plans to set up 50 hospitals across the country over a period of 10 years at an estimated investment of Rs 1,400 crore in Tier-2 and 3 cities. "We are looking to set up a chain of 50 hospitals across the country. The chain will be a mix of 30 greenfield and 20 leased or managed hospitals. We expect an investment of Rs 40 crore and Rs 10 crore in each of greenfield and leased hospitals, respectively," Spero Group of Hospitals Chairman and Managing Director Sanjiv Malik told media. This translates into an estimated investment of Rs 30 lakh per bed at the new hospitals that the company has planned. "We will have 125 to 150 beds in each hospital. It will not have five-star luxuries, but will be at par with the best hospitals in the country in terms of cleanliness, service and amenities," Malik said. He said Spero is working to provide healthcare at the minimum cost by cutting on five-star services that are not required by a patient and often add to the cost of treatment in a patient's bill. "This does not mean that we compromise on the quality of treatment. Here, we have treated patient in critical conditions like sulphas poisoning, brain injury and patients with 90 per cent burns. There is not a single example in the world where a patient has survived after consuming sulphas," Malik said. Read the full article on Economic Times website http://www.ukibc.com/news_and_media/news/110822-spero-open-hospital.aspxMon, 22 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110822-spero-open-hospital.aspxNEW DELHI: The government has approved fund raising worth Rs 60,950 crore by companies through external commercial borrowing (ECB) or foreign currency convertible bonds (FCCB) for infrastructure projects in the last two financial years. Companies in the telecom sector raised the most funds at about Rs 37,700 crore, which constitutes for 61 per cent of the total money approved, followed by the power sector at Rs 17,100 crore in the last two financial years, according to government data. The data, based on details from the Reserve Bank of India, was given by minister of state for finance, Namo Narain Meena, on Tuesday in a written reply to the Rajya Sabha. The minister said on the basis of the extant ECB guidelines, the primary responsibility is of the borrower to ensure these are raised and utilised in conformity with the guidelines and other related regulations and directions of RBI. Read the full article on Business Standard website http://www.ukibc.com/news_and_media/news/110824-india-inc-raises-rs.aspxWed, 24 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110824-india-inc-raises-rs.aspxNEW DELHI: Indian Metals & Ferro Alloys Ltd (IMFA) is planning to spend Rs 6,600 crore over the next five years to set up a 1,320-Mw power plant in Orissa. With this, IMFA, which currently produces power for its own captive use as a part of its backward integration strategy, will become a commercial power generator. The company is India's largest producer of ferro alloys, used in manufacturing of stainless steel. "We have proposed the government set up a 1,320-Mw independent power plant, with two units of 660 Mw each. This will be done through a special purpose vehicle (SPV), fully owned by IMFA, called Utkal Power Ltd," managing director, Subhrakant Panda, told Business Standard. "We would have sufficient cash flows to fund the entire equity ourselves. But as a derisking exercise, we may consider some fund raising at the subsidiary level in future for the plan, which is at a preliminary stage at present," he said. IMFA produced 180,000 tonnes of ferro chrome in 2010-11 from five of its six arc furnaces at Cuttack and Choudwar in Orissa. It operates 108 Mw captive power generation capacity, as electricity accounts for 40 per cent of the cost of production. It would expand its captive power capacity to 258 Mw by March 2012. Read the full article on Business Standard website http://www.ukibc.com/news_and_media/news/110826-imfa-plans.aspxFri, 26 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110826-imfa-plans.aspxMUMBAI: Strengthening co-operatives and involving private parties can help in improving productivity of agriculture sector, said Dr K.C. Chakrabarty, Deputy Governor, Reserve Bank of India. Pricing of credit needs to be market based to ensure effective flow of credit to all sections of the agricultural community, said Dr Chakrabarty. Speaking at the FICCI-IBA banking seminar, Dr Chakrabarty said that the share of agriculture in GDP has fallen to 14 per cent from 50 per cent about 15-16 years ago. The sector also provides employment for about 60 per cent of the population, he said. Therefore, food processing industry and agro-based industry need to be given necessary boost and impetus to improve productivity and employment opportunities Dr Chakrabarty called for more granular data with regard to agriculture production - flow of credit to various segments and sub-segments of agriculture and storage activities, flow of credit in terms of outstanding and disbursements, number of beneficiaries and monitoring of credit with non-credit inputs. Although agricultural credit has grown, it is from the urban and metropolitan branches of banks. This raises the question to which segments is this credit actually flowing to, Dr Chakrabarty pointed out. "The share of rural credit in agriculture has come down from 55 per cent to 38 per cent. The share of metropolitan credit has gone up. But that will not add to productivity. We need to see where the credit is going" he said. Little is also known about agricultural credit to various crops, horticulture, allied activities even on a consolidated basis, he added. To improve the flow of credit, there is also a need for systematic co-operation between Regional Rural Banks and Primary Agriculture Credit Societies. Apart from improving credit risk, there is also the need for an institutional mechanism to take care of marketing. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110826-strongerco-operatives.aspxFri, 26 Aug 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110826-strongerco-operatives.aspxBANGALORE: The India-EU Free Trade Agreement (FTA) in the apparel industry, expected to be signed by March 2012, is likely to push the domestic players to adopt international best practices. Industry experts expect a 'wave', similar to the radical changes brought in by abolishing of the quota system (where each exporter had a given quota of exports to every importer) once the FTA is signed, and see the need to move towards focusing more on management and professionalism alongside focus on training skilled labour. "We are now beginning to look at whether the industry is ready for this wave," Mr Avinash Misar, CEO and Director, Texport Syndicate Ltd, told Business Line. "The industry, which is the second largest revenue earner at $12 billion, after IT, has the potential to grow to about $20 billion, but one of the major constraints to quick growth is the conventional approach to industry practices," Mr Misar said. According to Mr Misar, with institutes such as the NIFT (National Institute of Fashion Technology), and several institutes offering courses on apparel technology, the labour-intensive industry does not face a shortage of hands for managerial jobs. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110901-trade-pact-eu.aspxThu, 01 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110901-trade-pact-eu.aspx NEW DELHI: Drug major Ranbaxy today said it will spend nearly 200 million yen (over Rs 10 crore) along with parent company Daiichi Sankyo over the next five years to sponsor mobile healthcare field clinics in India, Cameroon and Tanzania. The services will be provided in the fields of basic healthcare, immunisation, maternal and child health services and health education over a five-year period, involving a total monetary contribution of nearly 200 million yen, the company said in a statement. The initiative will be implemented in India through the Ranbaxy Community Health Care Society and in Cameroon and Tanzania through an international NGO, Plan Japan, it said. "India is among the countries with the highest number of infant and maternal mortalities in the world and Cameroon and Tanzania have some of the highest infant mortality rates and maternal mortality ratios among developing countries in Africa," it added. This initiative will contribute directly in improving the lives and health of citizens who lack such access in the three countries, it added. Read the full article on Economic Times website http://www.ukibc.com/news_and_media/news/110902-ranbaxy-spend.aspxFri, 02 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110902-ranbaxy-spend.aspxMUMBAI: The Government needs to look at the power sector with a tremendous sense of priority, more so if it wants to meet its plans and growth targets, Mr Ratan Tata, Chairman, Tata Power, said. Addressing shareholders at the 92{+n}{+d} AGM, Mr Tata outlined the potential of the sector while pointing to the impediments that hindered growth. The challenges were land acquisition, environment clearances, non-availability of domestic coal and the cost of imported coal. If the issues remain unaddressed, the industry may have to look at captive plants to meet their requirements, which would entail huge investments. There was also a need to review the tariff structure, especially, those being built on imported coal, he pointed out. Tata Power was looking for overseas opportunities to expand its portfolio, given the challenges faced on the domestic front, he said, without detailing the geographies the company intends to work in. Speaking to reporters after the meeting, Mr Anil Sardana, Managing Director, said the Chief Executive Officer of the imported coal-based Mundra power plant, had written to the Government on the policy changes in Indonesia and the impact of the fuel cost on the project. In the absence of a resolution to the issue, the company would look to use its expertise at Trombay in blending coal to fuel the plant, he said. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110905-power-sector.aspxMon, 05 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110905-power-sector.aspxNEW DELHI: The wind energy sector has attracted foreign direct investment of Rs 1,510 crore over the past three years. In the renewable energy sector, wind energy has emerged as the fastest growing category, the Minister of New and Renewable Energy, Dr Farooq Abdullah, informed the Lok Sabha on Friday. "An investment of about Rs 1,510 crore has been received as FDI in the wind energy sector during the last three years and the current year (up to June 2011)," he said. The Minister was responding to a query on whether the FDI in wind energy is nominal. The Government allows 100 per cent FDI in the renewable energy generation and distribution projects including wind energy, subject to provisions of the Electricity Act 2003. A total wind power capacity of 14,723 MW has already been installed up to July 2011 in various States. Of this 42 per cent capacity has been installed in Tamil Nadu. A target of 9,000 MW wind power capacity addition has been fixed for the 11 {+t} {+h} Five-Year Plan. Out of this, 7,629 MW capacity has already been set up and the balance is expected in the remaining period of the current financial year. Besides existing policy enablers under the Electricity Act, the other key initiatives taken in the recent past to attract foreign investment in wind energy include introduction of a generation-based incentive scheme for wind power projects which do not avail themselves of accelerated growth of depreciation. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110905-wind-power.aspxMon, 05 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110905-wind-power.aspx CHENNAI/BANGALORE: Hospital chains, which are on an expansion drive, have drawn up aggressive hiring plans to meet the needs of upcoming centres. But attracting and retaining talent will be a challenge, especially in tier 2 and tier 3 towns, caution analysts. Fortis Hospital, which has a headcount of 1,000, will hire 2,500-3,000 people for the 1,000 beds it will add this year. This will span doctors, nurses and staff for front-end, housekeeping, finance & marketing and food and beverages. Day-care specialty centre Vasan Healthcare, which employs around 7,000 people, will hire around 1,000 people by December. Apollo Hospitals too has an "aggressive" hiring plan to meet expansion plans, says Mr Jacob Jacob, chief people officer. Apollo is looking to add 2,400 beds by 2014; manpower requirement for this will be in the ratio of 4-5 per bed. "We will hire from A and B class medical colleges in the country, apart from absorbing management students from institutes such as XLRI, ISB and IIM." Bangalore-based Columbia Asia Hospitals, which plans to enter tier 2 cities, will add five hospitals to its existing count of seven. This will take its employee count to 5,000 from 2,300 currently by 2012-13. VCs are also hiring healthcare professionals as many of look to acquire small and medium hospital chains. "They need healthcare experts even before the acquisition process starts," says Mr N. Srinivas, Partner, Leadership Practice, Maxima Executive Global Executive Search. But the ground reality is there is shortage of manpower. "With both Fortis and Apollo focussing on growth in tier 2 and tier 3 cities, the ability to attract and retain talent will be one of the challenges," says Dr Rana Mehta, Executive Director, Healthcare Advisory, PricewaterhouseCoopers. Willingness among doctors to work in tier 3 cities could also be an issue, admits Mr Jacob of Apollo. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110906-hospital-chains.aspxTue, 06 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110906-hospital-chains.aspxNEW DELHI: The national manufacturing policy that proposes to create mega industrial zones with world-class facilities and tax sops for units is likely to be implemented by the end of the month, commerce and industry minister Anand Sharma has said. "The note will go to the Cabinet within a week. I do not foresee any delay. Hopefully within this month it will become a reality," Sharma told reporters on Friday. The policy aims to create 100 million additional jobs and take the share of manufacturing to 25% of the country's GDP by 2020 from the current 16%. The labour and environment ministries had opposed the relaxation in laws sought by the department of industrial policy and promotion for units in the national manufacturing investment zones or NMIZs, but the matter was resolved after it was agreed that the existing national laws would be applicable to all. "We propose to establish 4-5 NMIZs as greenfield integrated industrial townships with world-class infrastructure, financed by the central government in partnership with respective state governments, with a competitive regulatory environment for attractive investments," he said. Read the full article on Economic Times website http://www.ukibc.com/news_and_media/news/110906-new-national.aspxTue, 06 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110906-new-national.aspxMUMBAI: The domestic biotech industry has crossed the US$4 billion-mark last fiscal, growing from around US$3 billion the previous fiscal, says an Ernst & Young India report. Vaccines, diagnostics and devices and personalised medicine are key innovative growth areas for domestic biotech sector, says the E&Y report titled 'Beyond borders: Global biotechnology report - 2011. It notes that though the year R&D funding increasingly become scarce for vast majority of firms globally. "While biotech industry's aggregate performance improved in 2010, there is widening gap between large, established companies and those at earlier stage for whom access to capital continues to be difficult," Ernst & Young India Partner for Life Sciences Practise Ajit Mahadevan said. Read the full article on Deccan Herald website http://www.ukibc.com/news_and_media/news/110907-bt-sector.aspxWed, 07 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110907-bt-sector.aspxNEW DELHI: Indian and European Union (EU) negotiators will renew talks for a trade and investment agreement in Brussels on 12-14 September, but experts said their differences are too wide to be overcome without a political push. The proposed deal will be India's most ambitious trade pact because the EU is its largest trading partner. But the two sides have already missed three deadlines, the latest in April, to conclude talks that started four years ago. Negotiations hit a stalemate in July, with the 27-nation bloc aggressively seeking additional market access. Read the full article on Live Mint website http://www.ukibc.com/news_and_media/news/110907-india-eu-talks.aspxWed, 07 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110907-india-eu-talks.aspxThe European Investment Bank (EIB) has granted a EUR 200 million loan to ICICI Bank of India for projects in the renewable energy sector supporting climate change mitigation. The main objective of this climate change framework loan is to make long-term finance available for investments in renewable energy projects that mitigate climate change by contributing to the avoidance or reduction of greenhouse gas emissions. This is a framework loan that will finance a number of different projects in the renewable energy sector. The operation will focus on electricity generating projects only, especially solar photovoltaic, biomass and onshore wind. The project will be located in India and will be implemented by private sector companies. The framework loan will support the EU-India Strategic Partnership, which provides for cooperation in curbing climate change. The sub-schemes eligible for financing will bring economic benefits to the region through the production of energy from renewable resources, the displacement of imported fuel costs, the expanded use of domestic resources and the reduction of greenhouse gas emissions and other airborne pollutants. The EIB will ensure that all projects are economically and financially viable, technically adequate and in compliance with the Bank's environmental and social requirements. This loan is being provided under the EUR 4.5bn Energy Sustainability and Security of Supply Facility (ESF). This will be the first operation structured under the ESF in India and the first EIB operation with ICICI Bank, India's second largest commercial bank and the largest in the private sector. Read the full article on IEWY News website http://www.ukibc.com/news_and_media/news/110908-eur200million.aspxThu, 08 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110908-eur200million.aspx A further decline in growth is a distinct possibility as the full impact of higher interest rates is felt in the remaining quarters of this fiscal. Besides, a higher fiscal deficit will crowd out private investment. The recently released GDP growth data for the first quarter (Q1) of 2011-12 should raise concerns about the deteriorating macro-economic situation in the country. GDP growth at 7.7 per cent in Q1 was the lowest since Q3 in 2009, and has declined successively in the last three quarters. Even the 7.7 per cent was achieved on the basis of a revision of GDP growth in Q1 of 2010-11. On the basis of unrevised data, growth in Q1 of the current fiscal would slip further to 7.2 per cent, below the lower bound of 7.6 per cent forecast earlier by the RBI. Car sales are already in negative territory for both July and August, and this is indicative of the state of the manufacturing sector. Construction activity has markedly slowed down, with first quarter growth in the sector at a measly 1.2 per cent compared with 5.7 per cent in Q1 last year. Agriculture growth at 3.9 per cent has been a pleasant surprise, but this momentum can hardly be maintained, given the high base. Services sector has maintained its double digit growth, but with public sector expenditure under pressure and software exports likely to suffer on account of continued weakness in the US economy, it can hardly be expected to grow much faster in the next three quarters. Exports growth is perhaps the only silver lining, with July seeing a record-breaking 82 per cent growth, despite weaknesses in major global markets. But even the Commerce Secretary has warned that it is futile to expect exports to grow at this scorching pace. Growth dip likely With the full impact of increased interest rates on domestic demand likely to be felt in the coming quarters, we should not expect the growth in the next three quarters to be any higher than in the first one. We may well see aggregate GDP growth in 2011-12 at closer to 7 per cent rather than government estimates of 8 per cent, or thereabouts. While it is true that the Indian economy in 2011 is vastly different from that in the period FY1998-FY2002 when growth plummeted to as low as 1.9 per cent (Q4 of FY2001), it is hardly worth arguing that there is a floor at 7 per cent for GDP growth in India. This would be fallacious and dangerous. And most importantly, the longer our economic growth is below our potential growth rate of 9-10 per cent, the more we would be losing opportunities for generating more employment, critically needed to absorb some of the 12 million new entrants to the labour force each year. By not maximising our potential and actual growth, we could get on to the dangerous path of rising social and political stress and unrest. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110908-gloomy-outlook.aspxThu, 08 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110908-gloomy-outlook.aspxNEW DELHI: Telecom major Bharti Airtel Tuesday said that the fourth generation (4G) technology for mobile communications could be launched in India alongside other countries. "Launch of 4G services in India will be almost aligned with the rest of the world," said Sanjay Kapoor, chief executive officer, India and South Asia, Bharti Airtel, at a Qualcomm event here. However, he did not indicate when it would happen. 4G is a successor to the 3G and 2G families and is expected to be five times quicker than the 3G services in the country. India last year auctioned spectrum for enabling 3G licenses. However, the demand for such services is still to fully take off. Kapoor cited low penetration of 3G device to be a major factor for the slow start to 3G services. Read the full article on Economic Times website http://www.ukibc.com/news_and_media/news/110909-4g-india.aspxFri, 09 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110909-4g-india.aspxNEW DELHI: Britain's BG is eyeing stakes in ONGC's deepwater block and considering investment in an LNG terminal. But the company wants natural gas prices to be freed from government control. Walter Simpson, the head of BG India, said his company was keen to pick up a stake in one of ONGC's oil and gas blocks in the Krishna Godavri Basin, which is adjacent to Reliance Industries' gas-rich D-6 block. ONGC plans to produce 25-30 million standard cubic metres per day of gas from the block by 2016-17. "We had sent ONGC a proposal detailing our interest in picking up an equity stake in their Krishna-Godavari DWN 98/2 block about a year back. We are waiting for ONGC's response and continue to remain very keen to partner in the block," Simpson told ET. India's exploration sector and the attractive market has lured oil major BP to invest $7.2 billion in a deal to acquire 30% in oil and gas blocks of Reliance Industries. A senior BP executive said on Tuesday that gas pricing freedom was important for investors. Simpson shares his views. "Pricing freedom is imperative to encourage private sector involvement in natural gas production," he said. Read the full article on Economic Times website http://www.ukibc.com/news_and_media/news/110909-britains-bg.aspxFri, 09 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110909-britains-bg.aspxEvery time a train runs on the vast network of tracks laid by the Indian Railways, its safe passage is in some part due to the efforts of a small technology start-up in Bangalore. The company, Apna Technologies & Solutions, has installed sensors on the side of railway tracks to detect any defective wheels and axles that can cause track fatigue, fractures, derailments and accidents. This data is transmitted to cloudbased servers for storage and analysis with instant reports on defects transmitted to the Railways within seconds. Apna's founder Baskar Ceri is just one among several Indian entrepreneurs who now use cloud-based servers to deliver complex engineering technology to a host of new users. From increasing safety in railways, addressing inefficiencies in food supply chain, to managing the operations of hotels, Indian entrepreneurs are coming up with unique models that use cloud computing. In cloud computing, the information is stored and processed on computers 'in the cloud' or the web instead of local servers. This data can then be remotely accessed through a personal computer, cellphone or any other device. "Cloud computing is a gamechanging model. This is creating opportunities across the entire spectrum of infrastructure, platform, mobile and social media spaces for Indian entrepreneurs," said Naren Gupta, co-founder and MD of Nexus Venture Partners, who has invested in over six cloud computing start-ups in India. This includes storage company Gluster and Aryaka with a total of around $60 million invested in this sector till date. The global cloud computing market is expected to reach $241 billion in 2020 compared to $40.7 billion in 2010, according to Forrester Research. Back in India, the current total cloud market of $400 million will grow over 10 times, reaching a market value of $ 4.5 billion, by 2015, according to Zinnov-EMC India Study released in July this year. Read the full article on Economic Times website http://www.ukibc.com/news_and_media/news/110909-rail-safety.aspxFri, 09 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110909-rail-safety.aspxTHIRUVANANTHAPURAM: The Union Tourism Ministry has approved a proposal by the Kerala Tourism Department to implement the first phase of a Rs 400-crore master plan that aims to give a facelift to the famed backwaters of Alappuzha. The master plan envisages comprehensive development of the backwaters, including creation of a backwater circuit, an official spokesman said here. The first phase of the master plan would see preliminary works being initiated at a cost of Rs 50 crore, an official spokesman said here. To be completed in two years, the first phase will see setting up of houseboat terminals, rest points and night halt centres to provide a new experience of culture and shopping. "The first phase, to be launched very soon, involves developing a comprehensive backwater circuit linking more places and carving out more routes for houseboats," according to the Kerala Tourism Minister, Mr A. P. Anil Kumar. The Tourism Department has already identified places for converting into night halts for houseboats. New shopping centres, handicraft stalls, restaurants and live performances of traditional art forms will give a real feeling of Kerala culture and cuisine to the visitors. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110912-rs400-cr-master.aspxMon, 12 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110912-rs400-cr-master.aspxFour new members have been elected to the UK India Business Council Board. They are Rod Smith, Managing Director, Edexcel International, Miles Cowdry, Director, Rolls Royce, S. Anwar Hassan, Director, Tata Limited and Sir Mark Walport, Director, Wellcome Trust. Welcoming their appointment, the Rt Hon Patricia Hewitt, Chair of the UKIBC said, "I am delighted that the Board have elected the new members. They will bring a wealth of experience and expertise to the Council. I have no doubt that they will help the Council in shaping its future agenda and meeting its ambitious goals." Sir Mark Walport, Director, the Wellcome Trust, will be chairing the healthcare and life sciences work stream. Wellcome Trust is a global charitable foundation dedicated to achieving extraordinary improvements in health by supporting the brightest minds. Before joining the Trust he was Professor of Medicine and Head of the Division of Medicine at Imperial College London. Miles Cowdry, Director, Rolls Royce, will be chairing the Advanced Manufacturing workstream which supports SMEs in the supply chain in the aerospace, defence, automotive, engineering and clean technology sectors. Miles was appointed Director - Global Corporate Development in December 2008 and he is responsible for the evolution of the company's global footprint and management model. Rolls-Royce, a world-leading provider of power systems and services for use on land, at sea and in the air, has established a strong position in global markets - civil aerospace, defence aerospace, marine and energy. Rod Smith, MD Vocational and Applied, Edexcel International, and will play a leading role in the UKIBC's Education and Skills work stream and help shape the UK-India skills agenda. Edexcel is part of the Pearson Group which is the world's leading education company. Their services extend from pre-school to high school, early learning to professional certification. They estimated that their curriculum materials, multimedia learning tools and testing programmes help to educate more than 100 million people worldwide - more than any other private enterprise. Anwar Hasan, Director, Tata Limited, will be helping UKIBC shape its cross sector UK-India agenda. Tata is one of the leading champions of UK-India partnership and one of the biggest Indian investors and employers in the UK through operations such as Jaguar Land Rover, Tata Steel, TCS and the Tetley Group. Their support as well as the contribution from Anwar Hassan and Tata Limited will be invaluable. Back to UKIBC newsletter, August/September 2011 http://www.ukibc.com/news_and_media/news/110912-ukibc-board.aspxTue, 13 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110912-ukibc-board.aspxKamal Nath, Indian Minister of Urban Development, will address a half-day interactive session alongside an incoming Indian Chambers of Commerce (ICC) delegation at Clifford Chance in London on October 14th. The delegation will comprise of around 40 ICC members, including representatives from the State Governments from Bihar, Manipur, Madhya Pradesh and Assam. This showcase of the East and North East regions of India will focus on sectors such as infrastructure, education, food processing, mining, engineering, and IT. The event will also feature case studies from both India and the UK, and a networking lunch. For more information click here. Back to UKIBC newsletter, August/September 2011 http://www.ukibc.com/news_and_media/news/110913-opportunities-for-uk.aspxTue, 13 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110913-opportunities-for-uk.aspxMILAN: Emerging economies possibly coming to the aid of heavily indebted European Union countries was "an interesting development", the head of the International Monetary Fund said on Wednesday. "The BRICS' (Brazil, Russia, India, China and South Africa) interest is an interesting development," Christine Lagarde, the IMF's managing director told the Italian daily La Stampa. "But if they limit themselves to buying bonds deemed safe by everyone, like the German and British (bonds), they wouldn't be taking much risk. My hope is that if interventions like this take place that they'll be large and not limited to certain states," she said. Brazilian Finance Minister Guido Mantega said on Tuesday that the leaders from BRICS nations would discuss possible aid to the European Union, in what would be a reversal of roles, at the annual meetings of the IMF and World Bank next week. If the BRICS decided to invest in Europe this "would not be in disagreement with the Fund. For us, it is an acceptable hypothesis," Lagarde said. Questioned on the latest version of the Italian austerity programme set to be approved by parliament later Wednesday, Lagarde said the plan went in the right direction. Read the full article on Economic Times website http://www.ukibc.com/news_and_media/news/110915-brics-offer.aspxThu, 15 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110915-brics-offer.aspxThe India Global Summit on MSMEs, will focus on the growth and development of the sector to catapult Indian Medium, Small and Medium Enterprises (MSMEs) into the high growth orbit, is scheduled to be held in New Delhi on October 19-20. The "Flagship Global MSME event" will be organised by CII jointly with the Ministry of MSME, said CII in a press statement. The eighth edition of the India Global Summit on MSMEs 2011 is being organised by CII at The Lalit, Barakhamba Avenue, New Delhi. The summit is for the first time being organised with a sectoral focus on Defence (market size USD 100 Billion), Homeland Security, Food processing (market size USD 200 Billion - expected to reach USD 300 Billion by 2015), Information Technology (market size USD 76 Billion - expected to reach USD 225 billion by 2020), Auto components (market size USD 22 Billion - expected to reach USD 110 billion by 2020), Pharmaceuticals (market size USD 12 Billion - expected to reach USD 50 Billion by 2020) Biotechnology (market size USD 4 Billion - expected to reach USD 10billion by 2015), Clean Technologies and Climate Change, said release. Specific breakout sessions on these sectors, followed by business meetings would be held during the summit, to identify opportunities for identifying the scope for Collaborations, Joint ventures and Technology transfers. In addition, concurrently the summit would provide platforms for exploring financing avenues, developing supply chains, showcasing best products and services through the Investors Meet, Procurement Meet and the MSME Mart. At an interaction with diplomats today in New Delhi, Gurpal Singh, Deputy Director General, CII mentioned that Hon'ble Virbhadra Singh, Minister for Micro, Small and Medium Enterprises (MSMEs) has kindly consented to be the Chief Guest and inaugurate the summit. Besides, the Summit will be addressed by eminent national and international speakers, such as Lord Digby Jones, Trade and Investment Ambassador, UKTI and former Minister of Trade and Investment, Rt Hon Patricia Hewitt, Chair, UK India Business Council and former Secretary of State for Trade and Industry and Datuk Ir (Dr) Mohamed Al Amin Bin Abdul Majid, JP, Chairman, SME Corporation, Malaysia and will be attended by a large number of delegates from all over India and from different parts of the world. Read the full article on SME Times website Book now to join the UKIBC SME Delegation to the Summit, Mumbai, New Delhi and Chandigarh . http://www.ukibc.com/news_and_media/news/110915-msme-summit.aspxThu, 15 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110915-msme-summit.aspxMUMBAI: Oil explorer Cairn India (CAIL.NS) on Wednesday said it has received approval from a majority of its shareholders to accept conditions imposed by India to clear Vedanta Resources' (VED.L) deal to buy 40 percent stake in the company. India granted Vedanta Resources conditional approval in June to buy a stake in the Indian business of British oil explorer Cairn Energy (CNE.L), in a deal valued at around $6 billion (3.8 billion pounds). The resolution was approved by shareholders with a majority of 97.3 percent, Cairn India said in a statement. Read the full article on Reuters website http://www.ukibc.com/news_and_media/news/110916-cairn-india.aspxFri, 16 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110916-cairn-india.aspxNEW DELHI: Offshore BPO major Genpact has announced the acquisition of EmPower Research. This is a US-headquartered media and business research company with capabilities in social media research, media monitoring and measurement. In April this year, Genpact had acquired Headstrong Corporation - a consulting and IT services firm with a specialised focus on capital markets and healthcare domains - for $550 million (Rs 2,420 crore) in cash. Thursday's acquisition, on the other hand, is in research and analytics space, a market where outsourcing demand is now starting to explode. According to a study by Nasscom, business research outsourcing presents a $2.2-billion opportunity, and data analytics about $1.15 billion by 2015. Genpact said the deal is expected to close by the end of the month. But it did not disclose either the size or terms of the deal. This acquisition of EmPower Research will add to Genpact's Smart Decision Services business, which comprise analytics, research, re-engineering and risk management services. EmPower has about 360 employees based in New York, Bangalore, Cincinnati, New Jersey, San Francisco, and London. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110916-genpact-buys.aspxFri, 16 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110916-genpact-buys.aspxMUMBAI: The Insurance Regulatory and Development Authority (Irda) is set to ease rules on exposure by insurers to a single company from 10% to 25%. The rules now restrict investment in both equity and debt in a company to 10% other than infrastructure. Equity includes equity capital of the company while the debt consists of net worth and borrowings of the investee company. The insurance regulator is planning to allow insurers invest an additional 10% in corporate bonds, which are exchange traded. Beyond this, limit insurers through a special resolution from the board can raise the investment limit in corporate bonds by 5% while the total bond holdings can go up to 15%. "We are considering different dimensions in relaxing investment norms. If bonds are exchange traded, we may consider a higher cap. In certain types of debt funds, we can permit an investment of 20%, depending upon whether the bond is going to be exchange traded. There can be a higher level because once it is exchange traded, in principle they are more liquid," said Irda chairman J Hari Narayan. In infrastructure, insurers' exposure can go up to 25%. "At present, the equity and debt exposure is limited to 10%. In infrastructure, the investments can go up to 25%, including equity and debt. Within this 25% cap, 10% can be invested in corporate bonds and another 5% through the special resolution passed by the investment committee," said SBI Life CIO Abhijit Gulanikar. Read the full article on Economic Times website http://www.ukibc.com/news_and_media/news/110921-irda-ease.aspxWed, 21 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110921-irda-ease.aspxSHIMLA: Himachal Pradesh has emerged as leader in hill area development, horticulture revolution and an ideal destination for investment in industry, power and tourism. The economy of the state is dependent upon agriculture and its allied activities and any fluctuation in agricultural production affects the growth rate. The total food grain production in the state is about 1440 thousand Metric tonnes, whereas the production of Potato stood at 18429 MT and production of other vegetables is about 1206 thousand MT. The agro processing industries established in the State are mainly based on the fruit and vegetables and are currently engaged in the manufacture of conventional fruit and vegetable products like jams, jellies, squashes, juices, juice concentrate ready to serve beverages, pickles etc. The apple juice concentrate is the most important processed fruit product being manufactured by the State Processing Industry and is also exported. Food Processing is the biggest segment under which 1483 proposals under medium and Large Scale and Small Scale sectors have been approved by the government. There are about 100 fruit, vegetable, mushroom processing and milk and milk products processing units established all over the State with processing capacity of about 80,000 MTs of fruits and vegetables annually. Read the full article on Web India website http://www.ukibc.com/news_and_media/news/110922-food-process.aspxThu, 22 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110922-food-process.aspxMUMBAI: The urban consuming class is becoming more demanding and evolving faster than the brands catering to them, thanks to global exposure through travel, media and the Internet. The rub-off is being felt in smaller cities too, noted speakers at the India Retail Forum 2011. Strategic marketing consultant Ms Rama Bijapurkar set the tone for a panel on understanding the urban consuming class. The growing top quintile of consumers in India accounted for over 45 per cent of income in 2005, while this number stood at 58 per cent today. "The big story is rural; the bigger story is the under-served urban consumer story." Ms Bijapurkar contended that the upper tract of urban India was willing to pay more for better products and services - a fact that brands had failed to address in several categories. Detailing the profile of urban customers as viewed by Yum! Restaurants (Pizza Hut, KFC, Taco Bell), Mr Niren Chaudhary, Managing Director - Indian Sub-continent, explained that they were largely young and over 85 per cent literate; smart (wanting value for money and lower price points entries; social (making brands want to cater to everyone in consuming groups), and fiercely independent. These factors account for the increased demands on brands, he said. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110923-brands-unable.aspxFri, 23 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110923-brands-unable.aspxNEW DELHI: The Finance Minister, Mr Pranab Mukherjee, has assured foreign investors that foreign direct investment (FDI) would soon be allowed in multi-brand retail. "A consensus on allowing FDI in multi-brand retail is being evolved and will be operationalised in the near future," Mr Mukherjee said in his address at the India Investment Forum in New York. Currently, foreign investment is not allowed in multi-brand retail. In the case of single-brand outlets, foreign investment is allowed up to 51 percent. In cash and carry or wholesale trade, up to 100 per cent is allowed. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110923-fdi-in-retail.aspxFri, 23 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110923-fdi-in-retail.aspxVISAKHAPATNAM: Exports from the special economic zones in Andhra Pradesh may be doubled and are likely to exceed Rs 25,000 crore during the current financial year (2011-12), according to Mr M.S Rao, Development Commissioner in charge of SEZs in Andhra Pradesh and Chhattisgarh. At a press meet here on Wednesday, on the eve of a one-day seminar on SEZs being organised by the Visakhapatnam Special Economic Zone (VSEZ) and Assocham here on Thursday, he said there were currently 33 operational SEZs in Andhra Pradesh and their export performance during the first quarter was very encouraging. Together, the SEZs in the State had exported goods worth Rs 4,170 crore in the first quarter of the current fiscal against Rs 1,860 crore during the corresponding period last year (2010-11). "Many new units have started production during the current year and therefore the growth rate of 124 per cent is likely to be sustained throughout the financial year. "As the total SEZ exports in the State during 2010-11 amounted to Rs 13,336 crore, we are projecting a figure of more than Rs 25,000 crore for the current fiscal. I am sure it is a realistic one," he said. Mr M.S Rao said that even though the introduction of MAT (minimum alternative tax) had some what dampened the enthusiasm of the investors, still SEZs in Andhra Pradesh were doing very well. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110927-exports-sezs.aspxTue, 27 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110927-exports-sezs.aspxBERLIN: India may not have opened its retail industry to foreign investors yet, but it's the most preferred new destination for global retailers who bet on emerging markets to offset worsening economic conditions in the developed world. India topped the list in a survey of 323 international retailers about the markets they entered for the first time last year, done by property agents CB Richard Ellis. "If many retailers are already entering the Indian market, then I don't think there is so much of an entry barrier," said Neville Moss, director - head of EMEA Retail Research at CB Richard Ellis. "International retailers will just be more confident on the sense of ownership given in a foreign country," he added. Read the full article on Economic Times website http://www.ukibc.com/news_and_media/news/110927-india-preferred.aspxTue, 27 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110927-india-preferred.aspxGuwahati, Sep 19 : A training centre of Westminster Kingsway College, London, will be set up in Guwahati soon for training master trainers in vocational courses. Ms Nicole Barber, Assistant Principal, and Ms Ijeoma Akigwe, Head Marketing of Westminster Kingsway College, assured this to Assam Chief Minister Tarun Gogoi when they met him at his official residence here today. The visit of Ms Barber and Ms Akigwe is a sequel to Mr Gogoi's visit to the premier college in London in August this year. In course of the discussions, Ms Barber and Ms Akigwe, who are on a two-day visit to the city, said the objective of the visit is to further explore the possibility of partnering with the State Education Department in imparting training to teachers and introducing vocational courses in colleges. Read the full article on New Kerala website http://www.ukibc.com/news_and_media/news/110927-london-college.aspxTue, 27 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110927-london-college.aspx PRESS RELEASE LONDON: Chair of the UK India Business Council, Rt Hon Patricia Hewitt, has said that the UK looks forward to discussing opportunities for collaboration in the health sector with the government of West Bengal. Giving the keynote address to the CII Health East conference in Kolkata on Wednesday 28 September, Patricia Hewitt - who served in Tony Blair's Cabinet as Health Secretary - said that: "India is transforming healthcare - for instance, with the work of the Rabindranath Tagore International Institute of Cardiac Science in Kolkata and its partnership with the Bangalore Health City, which leads the world in the quality, scale and efficiency of heart operations. India's 'frugal innovation' has already produced an ECG device at a fraction of the price of Western technology. "NRI doctors play an essential role in Britain's National Health Service, many of them in primary care where the NHS is internationally recognized as a leader. As both India and Britain face the challenge of preventing and treating chronic illnesses such as diabetes, heart disease and obesity, there is an enormous amount that we can learn from each other." Ms Hewitt announced that healthcare and life sciences is one of the top priority sectors where the UKIBC and UK Trade and Investment (UKTI) are seeking to strengthen working and understanding between the two countries. Opportunities for greater collaboration are being explored by a new health subgroup of the India UK CEO Forum chaired by Sir Mark Walport, Director of the global charitable foundation, the Wellcome Trust, working closely with the UKIBC and UK-India Roundtable. The India UK CEO Forum is co-chaired by Ratan Tata and Peter Sands and was established by the Indian and British Prime Ministers in July 2010. Ms Hewitt said, "We in Britain are committed to working with the Honourable Chief Minister and the people of West Bengal to understand how we can develop our relationship for the benefit of patients in both our countries." While in Kolkata, Ms Hewitt will be joined by the Deputy High Commissioner, Sanjay Wadvani, in meetings with officials and healthcare experts. Sanjay Wadvani said, "The UK government and business is looking to develop its relationship with the public and private sectors in West Bengal. There are a number of areas of mutual interest and healthcare is clearly one of the priority areas". ENDS For more information email ishara.callan@ukibc.com or call 02075923045 Notes to Editors About UK India Business Council (UKIBC) Rt Hon Patricia Hewitt served in Tony Blair's government between 1998 and 2007. As Secretary of State for Health between 2005 and 2007, she introduced the ban on smoking in enclosed public places that has already had a proven impact on public health. Her full biography is at www.ukibc.com Ms Hewitt now chairs the UK India Business Council, the premier network connecting businesses, entrepreneurs and professionals between Britain and India. UKIBC is backed by the UK Government and works closely with UK Trade and Investment (UKTI) http://www.ukibc.com/news_and_media/news/110927-uk-to-explore.aspxTue, 27 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110927-uk-to-explore.aspxBANGALORE: The board of India's second-largest IT services exporter Infosys is eyeing public sector contracts in the UK, a business it has stayed away from so far. Under new non-executive chairman KV Kamath, the firm has started exploring sectors it had not been present in before. Kamath believes Infosys needs a course correction, since its bread-and-butter vertical, BFSI (banking financial services and insurance), will shrink over the next few years. BFSI forms the largest chunk of Infosys' revenues, contributing more than 35% to its $6 billion revenue kitty. The British government is among the biggest IT spenders in Europe. Infosys board member and head of Europe BG Srinivas estimates the size of the European IT market at about $150 billion; out of this, UK accounts for $35 billion and about 20% of this is government business. There appears to be a slowdown in the segment, going by some research reports. According to sourcing advisory TPI, outsourcing in the UK public sector dropped significantly in the first half of 2011. Between 2005 and 2010, 60% of all UK outsourcing contracts with a value of 20 million euros or more came from the public sector. For the first time this year, it dropped to 49% between January and June 2011, TPI noted. Still, many industry watchers predict a rebound soon in outsourcing activity because of the pressure to reduce costs. Read the full article on Financial Express website http://www.ukibc.com/news_and_media/news/110928-infosys-eyes-deals.aspxWed, 28 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110928-infosys-eyes-deals.aspxSecretary, Ministry of New and Renewable Energy Shri Deepak Gupta today (21/09/2011) released the "Draft Guidelines and benchmarks for green large area developments such as townships, neighbourhoods, educational and institutional campuses, special economic zones and medical college hospitals". The Guidelines have been formulated by the Ministry of New and Renewable Energy in association with the Association for Research and Development of Sustainable Habitats, ADaRSH. These guidelines will be useful for developing a campus or a township as a "Green Campus/Township". The Guidelines include details of various incentives which are available under different schemes of the Ministry of New and Renewable Energy for deployment of Solar Hot Water Systems, Roof Top PV System, Waste Recycling for Energy Generation, Solar Power Plants etc. while constructing green buildings and green campuses. The large developments such as townships, educational and institutional campuses, medical colleges and hospitals and special economic zones go beyond building level and several macro issues need to be addressed if they have to be planned in a green way. Some of these issues are socioeconomics, hydrogeology & watershed development, urban ecology, comprehensive energy resource planning with effective utilisation of renewable energy resources, sustainable mobility systems, and project & construction management. The National Mission on Sustainable Habitats intends to address holistic environment friendly development by harmonising Energy Conservation Building Code (ECBC) with building bye laws, mainstreaming efficient transportation modes and solid waste management programmes. Read the full article on India Current Affairs website http://www.ukibc.com/news_and_media/news/110928-release-draft.aspxWed, 28 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110928-release-draft.aspxMUMBAI: The debate on opening up FDI in multi-brand retail took centre-stage on day one of the India Retail Forum (IRF) in Mumbai on Wednesday. Representatives of modern retail made the case for FDI, even as trader associations opposed the idea. Mr Bijou Kurien, Chairman, IRF, and President and Chief Executive, Reliance Retail Lifestyle, noted that investment was required for the sector's growth. "Between 1.6 and 2 times is the ratio of investment turnover in the sector, making funds for expansion a challenge without infusion of funds. With domestic investors, there are limitations in the volume of investment." Mr Kishore Biyani, Founder and Group CEO, Future Group, noted, "Modern retail drives consumption of processed foods, which promotes economic activity. Processed food cannot be sold at mom-and-pop stores. Impetus to modern retail will come from FDI, because foreign investors in retail have a long-term perspective - they look at a horizon of 10 to 20 years, unlike domestic investors." Mr Thomas Varghese, CEO, Aditya Birla Retail, said, "It is not that domestic funds are not available, but not to the extent that is required. We need investments not just on the front end, but also on things like technology and the back end." Mr Viren Shah, President, Federation of Retail Traders Welfare Association, and Mr B.C. Bhartia, National Federation of All India Traders, alleged that the interests of small traders would be compromised with the opening up of the retail sector to FDI. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/110929-fdi-debate.aspxThu, 29 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110929-fdi-debate.aspxNEW DELHI: Days after the cabinet put off a decision on a national manufacturing policy, the government on Tuesday formed a group of ministers (GoM) led by Union agriculture minister Sharad Pawar​ to resolve differences among the concerned ministries on the matter. Apart from commerce and industry minister Anand Sharma​, whose ministry is spearheading the policy initiative, the group will be comprised of environment minister Jayanthi Natarajan​, labour minister Mallikarjun Kharge​, law minister Salman Khursheed​, and micro, small and medium enterprises minister Dinsha J. Patel. "Though no time frame has been fixed for a decision, we expect a decision quickly," an industry department official said, requesting anonymity. The policy aims to create 100 million additional jobs and expand the share of manufacturing from 16% of the country's gross domestic product at present to 25% by 2025. Its implementation has been delayed due to the lack of consensus among ministers on the proposed environmental and labour policies. Read the full article on Live Mint website http://www.ukibc.com/news_and_media/news/110930-govt-gom.aspxFri, 30 Sep 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/110930-govt-gom.aspx NEW DELHI: The cumulative value of mergers and acquisitions deals globally during January-September 2011 rose 9 per cent year-on-year to $2.18 trillion, even as the third quarter witnessed a significant slump in M&A activity. According to global deal tracking firm Dealogic, the value of M&A deals globally rose 9 per cent year-on-year despite a 19 per cent decrease in the third quarter.The value of third quarter M&A deals stood at just $633.3 billion, down 19 per cent compared with $783.5 billion in the corresponding period last year, which is also the lowest quarterly total since the second quarter of 2010... ( Read more ) http://www.ukibc.com/news_and_media/news/111004indianmanda.aspxTue, 04 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111004indianmanda.aspx Foreign money may be flowing out of Indian equity markets but the country's banks are experiencing a boom in deposits from Indians living abroad. With inflation high, savings account interest rates at record levels, and the rupee low by past standards, non-resident Indians are sending their money back to the motherland in droves... ( Read more ) http://www.ukibc.com/news_and_media/news/111117_nri_money.aspxThu, 17 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111117_nri_money.aspx Reliance Industries Ltd (RIL) and British Petroleum Plc on Friday announced the formation of India Gas Solutions, an equal joint venture that would focus on global sourcing and marketing of natural gas in the country. The JV will also develop infrastructure to accelerate transportation and marketing of natural gas within the country, the Indian conglomerate and the London-based company said in a joint press stateme. Read more. http://www.ukibc.com/news_and_media/news/111121_bp_ril.aspxMon, 21 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111121_bp_ril.aspx After heavy industrialisation in the plains, the Uttarakhand government has shifted its entire focus to the hills, amending the existing policy to attract small manufacturing units there. A total of 11 new industrial hubs will be developed, with the government promising modern infrastructure complete with a slew of sops under the 2008 hill industrial policy. Read more here http://www.ukibc.com/news_and_media/news/111129uttarakhand_to_focus_on_industry_in_hills.aspxTue, 29 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111129uttarakhand_to_focus_on_industry_in_hills.aspx The British Council in association with the University of Calcutta organised 'Industry-Academia Partnerships', a UK-India policy dialogue with the objective of debating and discussing the necessity, the present scenario and the future of collaborative research between academia and industry. Read more here http://www.ukibc.com/news_and_media/news/111130roadmap_for_the_future.aspxWed, 30 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111130roadmap_for_the_future.aspx PwC & UKIBC 2010 Bribery Act presentation, 10 November 2011 View the slides here View the report here http://www.ukibc.com/news_and_media/news/111130_bribery_act.aspxWed, 30 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111130_bribery_act.aspx Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin-top:0cm; mso-para-margin-right:0cm; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0cm; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} The technology products sector in India is growing rapidly, with start-ups making tailor-made products finding eager buyers in large Indian companies. In recent months, start-ups have won the trust of clients such as Bharti Airtel, Steel Authority of India and State Bank of India by providing specialised solutions and personalised services. Read more here http://www.ukibc.com/news_and_media/news/111130_tech_sector_grows.aspxWed, 30 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111130_tech_sector_grows.aspx Welcoming the decision of the Indian government to allow foreign direct investment in the multi-brand retail sector, the United States said that it will "deepen" the India-US economic co-operation. "We welcome India's decision. We think economic reforms such as these will further strengthen business-to-business ties between our two countries," State Department ​ spokesman, Mark Toner, told reporters. Read more here http://www.ukibc.com/news_and_media/news/111201fdi_in_retail_to_deepen_indo-us_economic_coo.aspxThu, 01 Dec 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111201fdi_in_retail_to_deepen_indo-us_economic_coo.aspx European Union (EU) Commissioner for Digital Agenda, Neelie Kroes, will embark on a three-day visit to India on Wednesday to boost cooperation in the information and communication technology (ICT) sector. "The EU and India enjoy a strong and deepening relationship. I am constantly amazed by India's innovators and I want to salute the ambition of India's ICT policies," Kroes said. Read more here http://www.ukibc.com/news_and_media/news/111202_eu_closer_india_ties.aspxFri, 02 Dec 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111202_eu_closer_india_ties.aspx Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin-top:0cm; mso-para-margin-right:0cm; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0cm; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} Ten new nuclear power projects are planned during the 12th Five Year Plan (2012-17) period, the Lok Sabha was informed Wednesday. However, no new nuclear power projects will be launched in the remaining period of 11th Five Year Plan ending March 2012, Minister of State in Prime Minister's Office V. Narayansamy said during question hour. Read more here http://www.ukibc.com/news_and_media/news/111202_india_plans.aspxWed, 07 Dec 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111202_india_plans.aspx Seeking to assuage the opposition sentiments, Finance Minister Pranab Mukherjee, on Tuesday, said the government is committed to bringing down inflation to more acceptable levels and sought suggestions from law makers on how to stem the soaring price rise. Inflation has been hovering above 9 per cent for the past 11 months now. Mukherjee said there was an urgent need to amend and enforce the Agriculture Produce Marketing Act to enable farmers to bring their produce directly to the retail outlets and vice versa. He also underlined the need to have unhindered flow of food and other perishable items from one region to another in order to improve supply-side constraints. Read more here http://www.ukibc.com/news_and_media/news/111202_infaltion-to-come.aspxFri, 02 Dec 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111202_infaltion-to-come.aspx Mobile device sales in India are estimated to touch 231 million units in 2012, a rise of 8.5 per cent over the 213 million units sold so far this year, according to Gartner. The mobile handset market is expected to show steady growth through 2015, when end-user sales would surpass 322 million units. With 150 manufacturers selling devices, the Indian mobile market is very competitive. India, accounting for approximately 12 per cent of worldwide sales, is an important market for device manufacturers. Read more here http://www.ukibc.com/news_and_media/news/111202_mobile_hand_sets.aspxFri, 02 Dec 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111202_mobile_hand_sets.aspx Finance Minister Pranab Mukherjee on Monday told opposition leaders, including Sushma Swaraj and Sitaram Yechury, that the decision on allowing FDI in retail was being put on hold and a final decision will be taken only after consulting all opposition parties. Read more here http://www.ukibc.com/news_and_media/news/111205_fdi.aspxMon, 05 Dec 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111205_fdi.aspx Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin-top:0cm; mso-para-margin-right:0cm; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0cm; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} The Global Agribusiness and Food Processing Summit 2011 organised by Karnataka government which begins here on December 1 can help establish an efficient supply chain that links farmers and small manufacturers directly with retailers, BCIC said today. Read more here http://www.ukibc.com/news_and_media/news/111206_agri_summit.aspxTue, 06 Dec 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111206_agri_summit.aspx Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin-top:0cm; mso-para-margin-right:0cm; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0cm; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin-top:0cm; mso-para-margin-right:0cm; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0cm; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} Reserve Bank of India (RBI) governor D Subbarao said inflation would "certainly" decline by the end of this financial year, to an extent that "will provide relief to the common men". Read more here http://www.ukibc.com/news_and_media/news/111206_inflation_to_decline.aspxTue, 06 Dec 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111206_inflation_to_decline.aspx Watch the Interview here http://www.ukibc.com/news_and_media/news/111206_reuters_interview.aspxTue, 06 Dec 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111206_reuters_interview.aspx Indian ship breakers' global share will grow anywhere between 5-10% in two years as shipping companies replace fuel guzzling older ships with new ones. Rise in demand for scrap used to make steel and lesser imports from China and Bangladesh will help grow the market share for the largest ship breaking industry with a 35% market share, says a report by rating agency Crisil Ratings India. Read more here http://www.ukibc.com/news_and_media/news/111206_ships.aspxTue, 06 Dec 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111206_ships.aspx The sale of PC monitors in India has recorded 17 per cent sequential growth between July and September driven mainly by pre-festive buying, according to a recent study by CyberMedia Research. Southern India accounted for 39 per cent of all PC monitor sales, followed by western, northern and eastern India, the survey pointed out. Read more here http://www.ukibc.com/news_and_media/news/111206_small_businesses.aspxTue, 06 Dec 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111206_small_businesses.aspx Footwear brand, Pavers England has opened two more exclusive franchise outlets in Mumbai at Linking Road and Phoenix Mills. The Linking Road store is spread over 1,500 sq.ft., whereas the Phoenix Mills store has a total space of 1,300 sq.ft. Read more here http://www.ukibc.com/news_and_media/news/111209_pavers_england.aspxFri, 09 Dec 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111209_pavers_england.aspx The Consortium of Indian Farmers Associations (CIFA) today met Prime Minister Manmohan Singh and urged him to take steps for implementation of FDI in retail by the end of this month, saying this would help the cause of farming community. The association, which claims to represent 40 million farmers, said it would be forced to go on an agitation from January 1, next year, if the demands are not met. Read more here http://www.ukibc.com/news_and_media/news/111213_farmers.aspxTue, 13 Dec 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111213_farmers.aspx With the next WHO inspection of Indian drug regulator due in March 2012, WHO country-head, India, Nata Menabde says state-level regulatory offices need to be strengthened. - (Financial Exp) Read more here http://www.ukibc.com/news_and_media/news/111216_drug_economy.aspxFri, 16 Dec 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111216_drug_economy.aspx Ravish Tiwari To break the logjam in Parliament, Congress insiders have not ruled out the option of "reformulating and tweaking" the government's decision to allow 51 per cent FDI in multi-brand retail . - (Indian Express) Read more here http://www.ukibc.com/news_and_media/news/111216_fdi_51.aspxTue, 13 Dec 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111216_fdi_51.aspx At least 30 chains plan to open shop here through franchise route It's a taste of things to come. As many as 30 foreign food chains are queuing up to enter India. Read more here http://www.ukibc.com/news_and_media/news/111216_food_market.aspxFri, 16 Dec 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111216_food_market.aspx Three years after it was conceptualised, the Union Urban Development (UD) ministry on Tuesday launched 'More' the national common mobility card Read more here http://www.ukibc.com/news_and_media/news/111216_mobility_card.aspxFri, 16 Dec 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111216_mobility_card.aspx Work begins on Trent aero engine plant CHENNAI,BUSINESS Rolls-Royce and Hindustan Aeronautics Limited (HAL) have commenced construction of a new manufacturing facility in Bangalore. This state-of-the-art facility is owned by the International Aerospace Manufacturing Pvt. - (Hindu) Read more here http://www.ukibc.com/news_and_media/news/111216_trent_aero.aspxFri, 16 Dec 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111216_trent_aero.aspx 1. How important is innovation for companies to succeed in today's competitive world? To keep pace with growing competition, it is extremely important for companies to be innovative. Customers have become quite demanding with more purchasing power, and therefore, do not mind paying extra for a product that has that slight advantage over others. Research suggests that out of every 10 businesses that start, seven will cease to exist in 10 years. Two will break even. Only one will really succeed. There are many reasons for that - lack of adequate capital to sustain the business; increased competition from established and new players; people issues; so on and so forth. But to my mind, lack of innovation could be the deal breaker. 2. Where is India in terms of innovation today and where should it aim to be? An innovative approach to business can be found throughout Indian society, from the most sophisticated technologies to 100-plus year-old businesses. The term 'Jugaad' is now commonly used to describe a culture of finding innovative solutions to get to the desired end result. I have often marveled on a simple Mumbai service that is a model of efficiency and efficacy - I think it's a good example of the Indian work ethos. Dabbawallas are food deliverymen, who pick up meals in tiffin carriers from homes around Mumbai and its suburbs and deliver them to office goers in the city - right to their offices. The Dabbawallas have a complex system of over 2,000 workers delivering over 100,000 meals every day. The dabbas - or tiffin tins - are picked up from individual houses, taken to the train station, sorted, placed on local trains, sorted again at their destination, and delivered directly to the desks of city workers. After lunch, the process is reversed and the tins are returned to the homes. This is an incredibly intricate system that could have any individual tin under the care of as many as eight dabbawallas on its daily journey. One of the keys to the system's success is its code of coloured symbols to divide the tin's route, which has been learned and memorised by the largely illiterate Dabbawalla workforce. The business runs completely free of automation or computerisation and covers a vast expanse of geography, yet is astoundingly accurate. So accurate, in fact, that Forbes magazine awarded them a 6 Sigma rating - meaning accuracy to a percentage of at least 99.999999. This translates into only one missing dabba per six million delivered. Another great example is the launch of Tata Nano, the world's cheapest car that made headlines around the globe and is seen as a turning point in the global auto industry. These products change lives and create opportunities for many by allowing access to technology and modern conveniences. The benefits of business innovation permeate all levels of Indian society. What I think this illustrates is how Indian business innovates and makes extraordinary use of available strengths. From creating a dominant global market by harnessing a newly available telecommunications infrastructure to devising an intricate code of symbols, letters and colours, Indian business has forged a remarkable path. This philosophy is best enshrined in the words of Tagore, India's first Nobel Laureate in literature, 'if I can't make it through one door I'll go through another door, or I'll make a door'. 3. In which sectors do you believe Indian innovation will make its mark? I see no reason why innovation cannot be all pervasive across sectors. The largest growth segment for many FMCG companies is PPP products - the Rs 5 Kit Kat bar or the Rs 2 shampoo sachet. These modifications in product and packaging are Indian solutions to multi-national offerings. Then at the other end of the spectrum are auto-engineering or two-wheelers where Indian companies are the largest in the world. There is scope for innovation in products, product delivery and services, in order to meet the expectations of a burgeoning middle-class and an aspiring young population. 4. How crucial is funding for innovation? No matter how innovative your product, it is important to do sufficient research to find out if there is a market for it. Before you launch the product, you need to know your customer very well and have effective market research. Having said this, innovation should not necessarily be restricted to commercialization of new products. It can also extend to creative new practices, relationships, management styles, HR processes, so on and so forth. While innovative products is what sets you apart from competition and creates profits for your company in the initial phases, sustaining this requires continual incremental innovations that filter through all levels/departments of a company. Funding is important but having the right work environment which encourages innovation is even more critical. 5. What is your advice to companies looking to raise funds for R&D and innovation in India? R&D is important but as mentioned above, companies should look for innovative opportunities outside the laboratory as well. There are many venture capital firms who trawl the internet for latest technologies to fund, often in the social entrepreneurship space. Thus new technologies for drinking water delivery systems at the village level have been provided funding by VCs and growing angel funding networks. Networks like Tie (The Association of Indian Entrepreneurs) help ideas in India to be connected with Silicon Valley. 6. What are the main challenges in funding innovation in India? The end result is unclear and the gestation period can sometimes be quite long. You need the courage to face failure and setbacks. The pools of capital available for start-ups and new ideas are still limited. And then, a good idea is not good enough in itself as it needs effective execution. 7. How can India and UK become partners of choice for innovation? UK and India are tied in many ways - historically and culturally. The British have contributed to the Indian economy through some great initiatives such as the Indian Railways and the post system, the education system which has given the large English-speaking youth of India an edge in global business. It has not been one-way though, India has given the UK its national dish - Chicken Tikka Masala!! An exchange of ideas, connectivity of our Institutes of Technology and funding would be some of the ways to enhance the relationship between people in our two countries. http://www.ukibc.com/news_and_media/news/111221-interview-naina.aspxWed, 21 Dec 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111221-interview-naina.aspx UK Trade & Investment will be organising a combined transport mission with separate ports, airports and rail elements. Click here to read more http://www.ukibc.com/news_and_media/news/111221_ukti_trade_mission.aspxWed, 21 Dec 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/111221_ukti_trade_mission.aspx Manufacturing in India and China improved in December, a sign the world's fastest-growing major economies are withstanding Europe's debt crisis. The Purchasing Managers' Index in India rose to 54.2, the most in six months, from 51 in November, HSBC Holdings Plc and Markit Economics said in an e-mailed statement yesterday. In China, the index was at 50.3 from 49 in November, the Beijing- based logistics federation said in a statement on Jan. 1. A number above 50 indicates expansion. Read more here http://www.ukibc.com/news_and_media/news/120103_indian_growth.aspxTue, 10 Jan 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120103_indian_growth.aspx It's estimated as many as 121 million Indians are logged onto the internet. It is a sizeable number, but still a relatively small proportion of the country's 1.2 billion population. Predictions suggest the ways Indians use the internet for business and pleasure will change even further in the next year. Read more here http://www.ukibc.com/news_and_media/news/120103_indian_internet.aspxTue, 03 Jan 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120103_indian_internet.aspx India will allow foreign nationals to invest directly in the country's listed companies, in a bid to deepen it s under-developed capital markets. Read more here http://www.ukibc.com/news_and_media/news/120104_india_opens_up_ft.aspxThu, 05 Jan 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120104_india_opens_up_ft.aspxJim O'Neill, creator of the acronym BRICs 10 years ago, is positive on the prospects of the BRIC economies but also of other "growth" markets such as Turkey and Mexico. He talks to Tracy Corrigan, Editor-in-Chief of The Wall Street Journal Europe. Read more here http://www.ukibc.com/news_and_media/news/120110_brics.aspxTue, 10 Jan 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120110_brics.aspx Ice-creams and gelatos have competition on the menu list. A string of yoghurt chains are entering the country riding on the healthier, guilt-free dessert plank. Read more here http://www.ukibc.com/news_and_media/news/120110_dahi.aspxMon, 09 Jan 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120110_dahi.aspx DI in retail may be slow in coming, but e-commerce sites have already latched on to foreign labels - premium fashion and lifestyle brands and electronic goods with aspirational value - to find their growth story. Read more here http://www.ukibc.com/news_and_media/news/120110_e_commerce.aspxMon, 09 Jan 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120110_e_commerce.aspx According to the report, emerging market economic growth continues to be a critical part of global growth in both the short and long-term. "China and India are especially important given both their size and growth rates. And while growth in both countries is likely to be slower in 2012 than it was in 2011, together these two countries will account for more than half of 2012 global growth," it said. Read more here http://www.ukibc.com/news_and_media/news/120110_inida_half.aspxThu, 12 Jan 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120110_inida_half.aspxDiffering with some of the leading corporate voices against perceived policy paralysis in the government, industrialist Ratan Tata today said there is no need to be pessimistic because of the global uncertainties as India's economic fundamentals are strong. Read more here http://www.ukibc.com/news_and_media/news/120110_tata.aspxTue, 10 Jan 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120110_tata.aspxPlanning Commission Deputy Chairman Montek Singh Ahluwalia on Friday said India is expected to be the world's third major economy in the next 20 years, after China and the US. "In the next 20 years from now, China could be in the number one position followed by the USA, and India in the third position with GDP growth rate at about 9 %," Ahluwalia said. Read more here http://www.ukibc.com/news_and_media/news/120111_inida_half.aspxWed, 11 Jan 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120111_inida_half.aspx Read more here http://www.ukibc.com/news_and_media/news/120113_100_per_cent.aspxThu, 12 Jan 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120113_100_per_cent.aspx Foreign direct investment (FDI) in multi-brand retail still remains off limits in India. But what is forgotten in the recent debate on FDI is that an efficient and well-oiled infrastructure network can go a long way in attracting investment in the sector. Back-end infrastructure is a key determinant of FDI inflows. Read more here http://www.ukibc.com/news_and_media/news/120113_back_end_story.aspxWed, 11 Jan 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120113_back_end_story.aspx The Hindu Business Line covered the CII-Partnership Summit 2012 in Hyderabad on Friday, where Richard Heald CEO of UKIBC gave a presentation on corporate social responsibility Read more here http://www.ukibc.com/news_and_media/news/120113_heald.aspxFri, 13 Jan 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120113_heald.aspx The world is changing around us and not just technologically. The geo-political and economic tectonic plates are moving. The 21st Century belongs to the BRICS - and predominately India and China but also Brazil, Indonesia, Vietnam. While this is a seismic change for us in the West, let us accept that this is merely a restitution of the status quo ante the Industrial Revolution which started in Britain in the 18 th Century. The resulting impact will be more fundamental than even these headline numbers convey. The re-ordering of economic power by the year 2050 will be literally life changing for the vast majority of people on the planet and for the political, social and economic systems within which they inhabit. Read more here http://www.ukibc.com/news_and_media/news/120113_inida_inc.aspxThu, 12 Jan 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120113_inida_inc.aspx Ali Sherwani, UK Export Finance, speaks to UK India Business Council about its role and how it helps businesses looking to export by providing credit. You can find out more about export and trade financing at the forthcoming UKIBC annual networking Summit. 1. What does UK Export Finance do? UK Export Finance is the UK's export credit agency and our primary role is to help UK exporters and investors do business overseas by providing insurance and guarantees against payment risks. We can only support companies carrying on business in the UK but its owners/shareholders can be Indians or any other nationality. There has to be a minimum of 20% UK content in a contract that we are asked to support and we can help with the export of equipment and/or services. 2. How does UK Export Finance help companies in reducing risks? Actually, UK Export Finance's remit has recently been widened so that we can now help exporters with working capital, contract bond support (e.g. performance, advance payment), a foreign exchange credit scheme and widening of our credit insurance product to cover most exports. In addition, we can help UK companies to offer finance packages to their buyers who can then repay the loan over 2-10years (and up to 18yrs for renewable projects) and at competitive interest rates. 3. How and when should a company approach UK Export Finance? The earlier the better! That way we can let them know our appetite for the buyer and give them an indicative premium rate to work with. 4. Do you help Indian companies too? Yes. As mentioned earlier we can guarantee loans to creditworthy Indian companies that are willing to buy goods and/or services from the UK. 5. How should they get in touch with you? Through our website www.ecgd.gov.uk or our customer service number +44(0)20 7512 7887 6. How can UKIBC work with UK Export Finance? By bringing UK Export Financeto the attention of both UK exporters and Indian buyers. It's surprising how many companies, especially SMEs, are unsighted on how we can help them and a lot of companies are unaware of our new products referred to earlier that were only launched a few months ago. http://www.ukibc.com/news_and_media/news/120116-interview-ali.aspxMon, 16 Jan 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120116-interview-ali.aspx UKIBC Announcement: There is an Urban Regeneration, Short Term Business Attachment Secondment to UK Trade & Investment India available Find out more here http://www.ukibc.com/news_and_media/news/120117_ukibc_announcement.aspxTue, 17 Jan 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120117_ukibc_announcement.aspx India's economic growth rate will remain subdued at 7.7% in 2012 and 7.9% in 2013 as downside risks have increased, mainly on account of problems in Europe and the USA, says a UN report. "India's economy is forecast to expand at a pace similar to 2011 in the following two years... at 7.7% in 2012 and 7.9% in 2013," the UN report on 'World Economic Situation and Prospects 2012' said. Read more here http://www.ukibc.com/news_and_media/news/120117_un_report.aspxTue, 17 Jan 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120117_un_report.aspx (Reuters) - India's beleaguered airline industry was thrown a potential lifeline on Tuesday when the Aviation Ministry said it would recommend that the government allow foreign airlines to buy stakes of up to 49 percent in Indian carriers. Read more here http://www.ukibc.com/news_and_media/news/120118_fdi.aspxWed, 18 Jan 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120118_fdi.aspx India has been ranked the sixth most "innovative" country in the world. GE's annual Global Innovation Barometer, based on a survey of 2,800 senior business executives in 22 countries, identifies the top drivers for innovation in each country along the lines of talent, financial support from public authorities and long-term support from investors. Continue reading here http://www.ukibc.com/news_and_media/news/120119_india_6th_most_innovative.aspxThu, 19 Jan 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120119_india_6th_most_innovative.aspx Richard Heald, CEO of the UK India Business Council, highlights the potential for businesses to develop stronger links with the country. Q: How can the UKIBC summit and the UKIBC help British Businesses to grow in India? Why India? Average Indian incomes are estimated to grow by 27 times by 2050. For UK businesses, this represents an expanding market that is hungry for products, services, technology and know-how. It is also a market which is rapidly developing its own world class products and services; which are born of innovation, passion and resourcefulness. How India? India is not one market, but a series of regional markets where the legislative and investment climate may change from one state to another. For example Noida and New Delhi are only a few miles apart, but operate in different States. My tips when looking at India are: a) evaluate the most relevant entry strategy; the best structures and how to minimise risks and optimise sustainability. b) Speak to experts. The UKIBC, UKTI other trade bodies and professional services firms can help, as, of course, can your peers - other businesses that have made the journey into India. c) Have the right people representing you in India, whether they be your own employees, your agent, distributor, or JV partner. d) India is about more than IT and outsourcing; there are opportunities across all sectors. India is rapidly scaling up its Infrastructure and its manufacturing sector is developing fast. India's healthcare industry will grow to over £40bn in the next three years. There are opportunities for UK skills providers as India aims to train 500 million. Rising income levels create retail opportunities, and the entertainment and media sector is also expected to be worth £15bn by 2014, creating a lucrative market for businesses with smart IP. The UKIBC Networking Summit will focus on market entry and expansion strategies, and feature case studies, a meet the experts area, and one to one meetings with specialists. The UKIBC also provides support for our members, and earlier this year a new Sector Membership category was introduced specifically to benefit for SMEs. Read more here http://www.ukibc.com/news_and_media/news/120123_ask_the_expert.aspxMon, 23 Jan 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120123_ask_the_expert.aspx By Richard Heald A speech given to the CII. I would like to thank the CII for inviting me to speak on this exciting topic, to share the experiences of the UK and to cautiously outline some thoughts of CORPORATE GLOBAL CITIZENSHIP (CGC). I would like to thank the Department of Industrial Policy & Promotion of the Ministry of Commerce & Industry & Textiles as well as the Government of Andhra Pradesh for their foresight and support they have given to this conclave. I would like to thank Rajive Kaul for his Chairmanship for his comments and to my fellow panelists whose addresses I eagerly await as I am sure theirs will be more insightful that mine. It is now some 4 years since President Obama coined the phrase - "Global Citizen" - in his memorable speech in Berlin. It is pertinent that we should be examining Corporate Global Citizenship in the run up to the World Economic Forum in Davos as the WEF has been so vocal in promoting it the concept. And it is particularly important that we should be examining the concept at a time when business leaders in almost every country and in every sector face challenging circumstances. The pressure is on to maintain and indeed increase returns for shareholders. Expectations on businesses are high. It would be easy to say corporate responsibility is all too difficult, too "non-core" for me to divert resources and attention from the imperatives of cash or earnings generation. However, it is just in such time, that corporates should be re-enforcing their role within the globalized business environment as leaders in citizenship. Efforts made now to take the initiative in governance, in the Big Society, in helping governments deliver growth, in fostering the public role of private sector or in stemming failures in corporate governance and ethics will all pay dividends during and post the current crisis. CEOs have little choice but to respond to new pressures and deliver - not only in terms of credible performance but as a socially responsible company. Our shareholders and stakeholders demand it. Indeed, the increase in transparent and public measurement means that inaction is not an option. All the more so since being a visible and active Corporate Global Citizen is increasingly becoming an entry ticket or method of recognised qualification into certain countries and certain classes of corporate activities. So, what is Corporate Global Citizenship (CGC)? There is no single, commonly agreed definition to describe this. Many see it purely as Corporate Social Responsibility (CSR) Mark 2, CSR plus or CSR on steroids, call it what you will. However, it is clearly more. Increased globalization combined with increased activism amongst the business world means that issues such as sustainability, social and environmental risks, the supply chain, climate change, fair trade, labour relations in developing countries have become integral to business and to CGC. But it is a sophisticated concept. CGC measures inputs and impacts not merely outputs . As such, as CGC becomes embedded into the executive psyche and the Board room debates, it begins to affect corporate behaviors for the positive. No longer are such programs viewed as attempts to "Save the World". Instead, increasingly, they are seen as catalysts for "Changing the World" in a sustainable way. In today's closely interconnected business environment, t he freedom to operate in an international market and to make profits entails a responsibility of being engaged within society across boundaries. Corporate Global Citizenship is about responsible business. Given all the above, how can Corporate Global Citizenship be defined for the 21st century? (quoting WEF) Corporate citizenship has to be part of a company's business model. An enterprise must balance the expectations of its wide range of stakeholders. Businesses should take advantage of difficult times by investing in growth drivers and striving for a more performance-oriented corporate culture. As such, transparency is critical in any engagement with governments and regulators at every level. Second main point could be CGC in the UK and the role you see of UK companies operating in India and what you see as the factors they must consider On 1 st December 2012, some 300 senior UK business leaders met in London for the AGM of the UK charity "Business In the Community". In the opening address, the audience was urged to reconnect the "financial with the ethical". To quote:- "Yes, we need to build economic growth and prosperity and there is no shame in a business making a profit but today we are talking about making a profit in a responsible and sustainable way and using those profits to build and support growth in local communities" Business in the Community…… and I recommend everyone to visit their website on www.bitc.org.uk …………..highlights UK companies that have had a positive impact on our environment and society as well as their business via the Business in the Community's Awards for Excellence and through their CR Index. Let me give you some examples of the companies they have highlighted:- Jaguar Land Rover. Jaguar Land Rover (JLR) efforts in environmental innovation were recognised. By integrating environmental strategy into the core business processes JLR is endeavoring to become a long term sustainable business, through increasing efficiency and reducing resource consumption, waste and costs. IMPACT The result of the program has been that carbon savings of 40pct have been achieved through optimization Reducing the temperature of hot water produced from boilers from 160degrees C to 145 degrees saved some 9,200 tonnes of CO2 Replacing key components in the production line has saved some 200 tonnes of CO2 Switching transport from road to rail wherever possible has saved some 1,000 tonnes of CO2 National Grid is another splendid example. National Grid is interestingly one of a few but increasingly common companies which have an independent published annual audit of their CGC looking at a 360 degree view of the impact of their efforts To give one example of their efforts, National Grid has developed a four year strategy to provide a work environment where employees can flourish, improving health, engagement and wellbeing for themselves, their families and the organisation. The strategy has resulted in a significant reduction in sickness absence, saving the organisation £8.9 million over two years and increased employee engagement ratings by 8% in their annual employee survey with 95% of employees completing the survey. Impact sickness reduction has resulted in £8.9 million savings over 2 years (2008 - March 2011) the reduction in absence days has equated to 35,000 absence days over 2008 until March 2011 an increase of 8% of employees taking part in the annual employee survey, with 95% of employees now completing the survey 61% of employees are electing to have health screenings 57% of employees are tracking their health metrics via kiosks Responsible business is not for big businesses alone. Maloney's Retail Stores - an independently run family owned business operates stores that are a vital part of their local community. Their concern for the environment has seen them become anchor stores for their community, working with schools, community groups and their suppliers. Since the implementation of their community plan they have seen a 10% increase in sales across their stores and this initiative has won them excellence award. And we are not solely talking about the manufacturing sector - Eversheds, a legal firm, PwC and Ernst and Young, the accounting firms and Barclays Bank all feature prominently in the awards. We at the UKIBC urge British companies operating in India to practice good corporate governance and engage the local communities. Indeed, UK companies which apply best practice domestically - and many encourage their supply changes to do similarly - easily and migrate these practices internationally and into India. Third if CSR is domestically orientated and CGC focuses on cross border practices, should a company operating outside their home market focus their main thrust be on different areas than what they usually focus on at home? Clearly, there are subtleties. Issues in one environment are not the same as those in another. One size does not fit all. But if the mindset- the corporate philosophy - is embedded, CGC can be adapted. Currently in Britain, social challenges are mainly jobless growth and the impact of economic slowdown. In India, the societal needs are different - social mobility, availability of skills, eco-sustainability, access and affordability of essential products and services remains key business agenda - especially, access to essential medicines, for example, has become a key debating point for activists with regards to the EU-India FTA trade. Many UK companies have successfully and commendably done just that. JCB is a good example which has used its extensive Indian base and its position within the infrastructure market to actively campaign to get better health and safety standards in the Indian construction sector as well as to train to cover both in company and 3 rd party needs. But Indian businesses have a long track record of philanthropy and social commitments. At the same time, they are nothing if not innovative, making products and services accessible, to many similar markets abroad. Like the Victorians in Britain, many Indian businesses and their owners have been at the forefront of developing community-facing strategies. We all know the excellent work being done across by Indian companies in many sectors…………..and I refrain from naming them in the knowledge that I will offend those I will naturally miss out. But there are new strands to these strategies - elements of sustainability, of capacity building and, dare I say, of social activism which are increasingly and commendably coming to the fore. The stand taken by the corporate sector to improve corporate governance, to recognise the need of sustainable business models and critically, to assist in the fight to stamp out corruption is a sign of growing self-confidence. We have heard that India and its business will increasingly occupy a prominent position in 21st century. The attitudes of Indian industry have much to be commended and we in the West can learn much from you. The challenges are many, but now is the time for every company to have an integrated corporate global citizenship strategy in place. Let me quote from the British author, pamphleteer and revolutionary Thomas Paine in "Rights of Man": " My country is the world, and my religion is to do good." But how do you embed that into the corporate philosophy of the company. A good Corporate Global Citizen sees itself as a stakeholder alongside government and the civil society. As such, i t is important to have your employees on your side, to win their confidence and engagement. Staff should understand and support the core values that the company so that each employee becomes an ambassador for the firm. But to do so it must be the Promoter and the Board where the buy-in has to first occur and frankly it is important to demonstrate tangibly what is in it for them. There are some initiatives such as the Publish What You Pay Campaign, supported by financier George Soros, the UK Government's Extractive Industries Transparency Initiative and the USUK Voluntary Principles on Security and Human Rights, have all raised awareness of the strategic business importance of these issues and have been actively supported by leading companies. But we need more. I made reference earlier to Business in the Community's CR Index. This provides in the UK a robust, independent and transparent measurement of four elements:- the impact within corporate strategy of CGC; how this is organized; how companies manage their performance in the four areas of Community, Environment, Marketplace and Workplace; and, finally, Performance and Impact. The Index has evolved into both a management tool and a performance tool. Moreover, it acts as an independent bench market to objectively measure a company's commitment to the core values which underpin being recognised as a Corporate Global Citizen…………. In other words, in the UK, the CR Index is evolving into "an accreditation" as it were. Let me suggest that as corporate activities in many areas become increasingly sensitized to environmental, social and sustainable issues, businesses will promote their Corporate Global Citizen credentials to underscore their qualifiuactions to participate in socially impactful projects. In time, and perhaps sooner than we expect, the universal adoption of such an index by the global business community, as a whole, and acceptance of what it says would go a long way to ensure that the core values are embedded into the system, are recognised as a business tool and can be highlighted as an advantage versus the competition. In conclusions, let me make one final observation. In October 2011, research was undertaken between Business in the Community and IPSOS Mori to test the assertion that there is a link between corporate responsibility and improved share price performance. Based on evidence of some 33 FTSE companies which had all taken part in the CR Index for each of the past 6 years, the research found that the more a company measured its environmental and social impacts, the less volatile its share price. In fact, amongst the sample those companies taking part in the CSR Index outperformed their FTSE 350 peers on total shareholder return by between 3.3 and 7.7pct through the period 2002 -2007. THANK YOU. For a pdf version of the speech click here http://www.ukibc.com/news_and_media/news/120123_view_corporate_global_citizenship_in_the21.aspxMon, 23 Jan 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120123_view_corporate_global_citizenship_in_the21.aspxThe UKIBC held a high level roundtable discussion on the implications for UK businesses of the changes to FDI rules in Indian retail. Although the Indian government suspended its earlier decision to open multiband retail to 51% FDI, it raised the permitted FDI in single brand retail from 51% to 100%, after announcing a shift in FDI policy back in November. Participating companies included Kingfisher, Pavers,Pizza Express, Tesco, The Frozen Yogurt Company, United Biscuits, Daks, Benoy, Farsan Foods, APCO Worldwide, Ernst and Young, Eversheds, Penningtons Solicitors LLP, Podtime and Standard Chartered Bank. While the discussion agreed that the single brand reform was a significant step forward, the strong view was that opening FDI in multibrand retail would be very good for India, in terms of job creation, consumer choice, inflation control, lower costs, greater efficiency and significantly improved food supply chains. A number of insightful observations were made by the group on the opportunities and future challenges this change in policy would bring to the retail sector. These included insights on the implications and realities of market research, finances, repatriating profits, taxation, logistics, importing & exporting, and real estate. Click here for a more detailed report To return to the Newsletter click here http://www.ukibc.com/news_and_media/news/120124-ukibc-fdi-roundtable.aspxTue, 24 Jan 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120124-ukibc-fdi-roundtable.aspx Dear Reader I've just returned from a typically invigorating 10 day visit to India, where I visited Hyderabad, New Delhi and Mumbai. It was a good time to visit. The New Year has brought encouraging news: inflation dropped by two per cent; and the government notified 100 per cent FDI in single brand retail and 49 per cent FDI in airline carriers. I also found great enthusiasm for the UKIBC Networking Summit, which is taking place in Manchester on 14 March. Despite some Indian business leaders voicing concerns late last year about the business environment, I have to say I encountered a strong sense among the business community that the environment and growth were going to improve. I met several British and Indian company executives including from Mahindra & Mahindra, TCS, Bharti, Pizza Express, Balfour Beatty and Yoghurty, and also addressed the Confederation of Indian Industry Partnership Summit in Hyderabad. (My speech, "Corporate Global Citizenship in the 21 st Century" is on the UKIBC website. The political environment remains, as ever, fascinating. The mid-March election in Uttar Pradesh dominates, and current indications are that the current Chief Minister, Mayawati, will not win another majority. So a period of coalition may be in the offing. Looking eastwards to West Bengal, Mamata Banerjee has no such coalition issues following her sweeping victory in the state election last may. There are concerns, though, that she is not "business friendly". She strongly opposed the FDI in multi-brand retail reform in November and December, which was perhaps the single biggest reason why the Government had to perform their u-turn. And she is taking a hard and fast stance on land for industry. Looking to secure her new rural voters, she has placed the burden of land acquisition squarely on investors. Which is a significant disincentive. Saying that, as few UK companies looking to set up in West Bengal will require land this need not be a deterrent for British businesses looking at the state. I mentioned earlier the keen interest in India in the UKIBC Summit. This will be the largest India business event of the year and will take place at the Bridgewater Hall in Manchester on 14 March. Our tickets are selling twice as fast as last year, which is no doubt partly due to the fact that we have Mr Chandrasekaran, the Global CEO of TCS giving the keynote address. The positive response is also, I'm sure, down to the array of essential, practical advice we will provide to businesses. For example, there will be experts on hand to advise on trade finance, HR, company formation, IP, taxation, banking, export documentation, marketing and all those other elements that go in to a successful market entry strategy. You can learn more about the event at www.ukibc.com/summit . I hope to see you there. Yours sincerely Richard Heald Chief Executive UK India Business Council To return to the Newsletter click here http://www.ukibc.com/news_and_media/news/120124-ukibc-newsletter-foreword.aspxTue, 24 Jan 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120124-ukibc-newsletter-foreword.aspx The UKIBC is pleased to welcome our new members. learndirect joins us as a Corporate Plus Member. Cerner Ltd, Four Cross Media Ltd, Sportech and Prima Dental Manufacturing who have joined the UKIBC as corporate members. We would also like to welcome Pavers England, Polytherics, Redgate Software, Tintometer and Biscon planning who have joined as sector members. learn about UKIBC membership here To return to the Newsletter click here http://www.ukibc.com/news_and_media/news/120124-ukibc-newsletter-members.aspxTue, 24 Jan 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120124-ukibc-newsletter-members.aspx "There is an opportunity for food manufacturers and retailers to be a solution-provider to the weight-conscious Indian consumer," says Adrian Terron, executive director, retailer & shopper, Nielsen India. He should know. According to Nielsen Global Survey conducted between March-April and August-September 2011, consumers in cities like Delhi and Mumbai are shifting towards natural and organic foods while aiming to reduce intake of processed foods. Read more here http://www.ukibc.com/news_and_media/news/120203_airline_fdi.aspxThu, 26 Jan 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120203_airline_fdi.aspx Global Emerging Markets (GEM), Vittal Innovation City and Lepakshi Knowledge Hub (LKH) have formed a joint venture to develop a 2,500-acre cluster in Lepakshi Knowledge Hub, 70 km from Bangalore International Airport. Vittal Innovation City will work as a catalyst to bring companies that will manufacture, innovate and provide jobs. The electronic hub is expected to attract investment of R5,000 crore and create 25,000 jobs in next 5-10 years. Read more here http://www.ukibc.com/news_and_media/news/120203_bangalore.aspxThu, 26 Jan 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120203_bangalore.aspx "All the three wings of the Defence are going out in a big way in modernising and upgrading inventory. Many new weapon systems and equipment are being procured and there is a lot more to look forward to in the future," Air Marshal D.S. Khajuria, Director General (Systems), Indian Air Force, said here on Monday. Speaking at an international seminar on "Role of SMEs in Defence and Aerospace" at the Amrita Vishwa Vidyapeetham, he said the IAF was in the process of acquiring state-of-the-art weapon system, radars, aircraft, communication systems, etc. There was immense scope for industry to come in. Read more here http://www.ukibc.com/news_and_media/news/120203_fefense.aspxThu, 26 Jan 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120203_fefense.aspxThe finance ministry is likely to project economic growth of around eight per cent for the next financial year, compared to a little over seven per cent expected in the current year. Together with the assumption of average inflation easing to around six per cent next year, that would give a nominal GDP expansion of around 14 per cent. On the basis of that, tax collections, fiscal deficit and other targets would be fixed in the Budget. Read more here http://www.ukibc.com/news_and_media/news/120203_growth.aspxWed, 01 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120203_growth.aspx The Mines Minster, Mr Dinsha Patel, is hopeful that The Mines and Minerals (Regulation and Development) Bill 2011 will be passed in the upcoming Budget Session of Parliament. The new Bill, which seeks to bring in the concept of benefit-sharing mechanism in the Indian mineral industry, was introduced in Lok Sabha in December and has now been referred to the Standing Committee of Parliament in January. Read more here http://www.ukibc.com/news_and_media/news/120203_minebill.aspxThu, 02 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120203_minebill.aspx Do they have a hard nose for numbers, and never take their eyes off the market? Do their employees love them or hate them? Do they have time to indulge in hobbies of any kind? You can add your own set of questions to what makes CEOs tick. But ultimately, what every company's stakeholders look at are shareholder returns and market capitalisation. Read more here http://www.ukibc.com/news_and_media/news/120203_outlook.aspxFri, 03 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120203_outlook.aspx Tata Steel Ltd has secured a huge contract from Siemens Wind Power to supply 25,000 tonnes of high quality profiled steel plate for wind towers. Read more here http://www.ukibc.com/news_and_media/news/120203_tata.aspxFri, 20 Jan 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120203_tata.aspx The Supreme Court on Friday set aside a Bombay High Court judgement asking Vodafone International Holding to pay income tax of Rs 11,000 crore on a deal abroad. In a big victory to Vodafone, apex court directed the tax department to return Rs 2,500 crore deposited by Vodafone in compliance of its interim order within two months. Read more here http://www.ukibc.com/news_and_media/news/120203_vodafone.aspxFri, 20 Jan 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120203_vodafone.aspxIf you think Mrs Smith shopping at a Tesco supermarket in the UK and Mrs Khanna buying groceries at a Mumbai food retailer get to choose from the same categories of products, think again. Fact is, Mrs Smith has access to products that Indian consumers can only dream of buying! Read more here http://www.ukibc.com/news_and_media/news/120207_four_key_foods_that_elude_mrs_khanna_at_ind.aspxThu, 02 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120207_four_key_foods_that_elude_mrs_khanna_at_ind.aspx The CEO of Swedish furniture and home-ware retailer IKEA will visit India soon to hold discussions with officials on the rules set for the single brand retail sector and stressed that India remains an important market for the firm. Read more here http://www.ukibc.com/news_and_media/news/120207_ikea.aspxThu, 02 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120207_ikea.aspx The overall inflation will be around 6-7 percent by March while economic growth in the current financial year will be around 7 percent, Finance Minister Pranab Mukherjee said Wednesday. Read more here http://www.ukibc.com/news_and_media/news/120207_inflation.aspxTue, 07 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120207_inflation.aspx The number of mobile phone subscribers in India rose to 893.84 million in December with Idea Cellular alone signing 2.39 million new subscribers, official data showed Monday. According to the Telecom Regulatory Authority of India ( TRAI ), the wireless user base grew 1.07 per cent with an addition of 9.47 million subscribers, from 884.37 million in November. Read more here http://www.ukibc.com/news_and_media/news/120207_mobile_subscribers.aspxWed, 01 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120207_mobile_subscribers.aspxThe HSBC Purchasing Managers' Index (PMI) for the manufacturing sector for January has been a strong 57.5 and most of the sub-indices, including the New Orders index and the Export Orders index, are well above long-term averages. As we said at the time the December PMIs came out, a bottom seems to have been formed in the economy around the end of last year and it has improved in the past couple of months. Read more here http://www.ukibc.com/news_and_media/news/120207_pmi.aspxFri, 03 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120207_pmi.aspx Till now it has been universities and colleges from overseas sending delegations to woo Indian students for higher education. In a new trend, a delegation of headmasters of UK independent boarding schools are on a visit to India to explore the growing need of parents with means, willing to provide quality education to their children even though it comes at a cost. Read more here http://www.ukibc.com/news_and_media/news/120207_students.aspxWed, 01 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120207_students.aspx Penetrating further into urban markets has become a challenge for modern trade retailers, that have no option but to continue to create, preserve and then destroy the store formats they have come up with. Read more here http://www.ukibc.com/news_and_media/news/120207_supermarkets.aspxFri, 03 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120207_supermarkets.aspx India and the European Union have agreed to work on clean energy solutions and adapting to climate change but say their long anticipated trade pact won't happen until later this year. Prime Minister Manmohan Singh says progress was made in Friday's summit in New Delhi on resolving market disputes that have prevented a free-trade agreement since talks began in 2007. Read more here Discuss here http://www.ukibc.com/news_and_media/news/120210_eu.aspxFri, 10 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120210_eu.aspxThe growth in IT software and services exports from India has slackened this fiscal owing to the global economic overhang. But the positive side of the story is that domestic companies are reducing dependence on the US market, while sharpening focus on emerging markets. Read more here Discuss here http://www.ukibc.com/news_and_media/news/120213_software_hardware_exports_likely_to_grow_2.aspxMon, 13 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120213_software_hardware_exports_likely_to_grow_2.aspx The UKIBC held a high level roundtable discussion on Innovation, where businesses and government officials exchanged ideas and views on the role of the UK and Indian governments in technology transfers and Innovation. Professor Sir Mike Gregory, Head, Institute of Manufacturing, Cambridge moderated the roundtable, and a number of insightful observations were made by the group on the opportunities and future challenges to collaboration on innovation between the UK and India. Participating organisations included, Agusta Westland, Cerner Ltd , GKN, HCL, HM Treasury, The Cambridge Institute of Manufacturing, Isis Innovation, Ashurst LLP, Jaivel , JCB, St John's Innovation Centre, Tata Consultancy Services, The Welding Institute Ltd, the Technology Strategy Board, University of Exeter, Diabetes-cutmyrisks.com, Wincanton, Wipro, UKTI, and the UKIBC. A number of insightful observations were made, including: • Medium sized enterprises in India require more R&D and have the finances to invest. Whereas the UK has R&D embedded within many of its SMEs. As such the Indian need and UK offering complement each other - all the more so as Indian medium sized enterprises potentially provide counterparts for technology transfer and/or new sources of financing for R&D development. • SMEs in India contributed to 45% of industrial output and 40% of India's export. These exporting SMEs have built good surpluses and are cash rich. This has been achieved through having higher profitability than their British counterparts. • 80% of UK companies are in services. While investment in manufacturing is important, services are even more important. • SMEs remained cautious of going to India. Tax harmonization would mitigate this fear by encouraging Indian entrepreneurs to invest in technology in the UK and avoiding the UK SMEs being initiators of technology transfer. It was agreed that more investigation needs to be undertaken and that the UKIBC should work with Ficci to more fully understanding the appetite of Uk and Indian Businesses. Click here to read the full communiqué here Click here to discuss Click here to go back to the Newsletter http://www.ukibc.com/news_and_media/news/120220-ukibc-innovation-roundtable.aspxMon, 20 Feb 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120220-ukibc-innovation-roundtable.aspx View the full Communique plan here http://www.ukibc.com/news_and_media/news/120320_acommunique.aspxWed, 14 Mar 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120320_acommunique.aspxPopular departmental store Debenhams from UK is all set to increase retail presence in India. After their first store in Gurgaon in 2007, the company recently launched their second store in Mumbai at Phoenix Market City Mall, Kurla. The company that faced several hurdles in establishing itself in the Indian retail market, unfortunately had to shut down two of its stores, one in New Delhi and the other at Oberoi Mall, Mumbai. Speaking on the same, Vikas Purohit, COO, Planet Retail, who seemed uncertain about the reasons behind the stores being shut said: "After the first store, two more stores were launched that eventually got shut. It was then handled by a different management. It's been two years now that a new management has been appointed to handle UK-based company Debenhams." Continue Reading http://www.ukibc.com/news_and_media/news/120412_debenhams.aspxThu, 12 Apr 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120412_debenhams.aspx Watch more UKIBC videos here Sign up to our Newsletter here http://www.ukibc.com/news_and_media/news/120425_cnbc.aspxWed, 25 Apr 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120425_cnbc.aspxThe Kerala government on Friday launched a campaign to attract foreign direct investment ( FDI) and said the state had unveiled a single-window mechanism for clearing investment proposals. Continue Reading here Subscribe to our Newsletter here for regular updates http://www.ukibc.com/news_and_media/news/120426_kerela.aspxThu, 26 Apr 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120426_kerela.aspx German car maker Volkswagen said operating profit rose to 3.2 billion euros ($4.22 billion) from 2.9 billion euros a year earlier amid record vehicle sales, beating analysts' expectations. Analysts had predicted profit to drop almost nine per cent to about 2.7 billion euros. Continue Reading here Subscribe to our Newsletter here for regular updates http://www.ukibc.com/news_and_media/news/120426_volks.aspxThu, 26 Apr 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120426_volks.aspx India has once again emerged as the most optimistic market in terms of consumer confidence, but there is still some amount of cautiousness when it comes to spending spare cash, says a Nielsen survey. This is the ninth consecutive quarter wherein India has retained the tag of the world's most optimistic market with an increase of one point in consumer confidence to 123. Continue Reading here Subscribe to our Newsletter here for regular updates http://www.ukibc.com/news_and_media/news/120502_lond_term_growth.aspxWed, 02 May 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120502_lond_term_growth.aspx Industrial Output in India Increases at the Fastest Pace in 16ths India's industrial production increased at the fastest pace in 16 months in June, adding to signs that Asia's third-largest economy has escaped the worst of the global recession. BAE's Global 'Homes' Weather Defense Cuts When Ian King took over as chief executive of BAE Systems PLC last September, the British defense giant's strength lay in the huge U.S. defense market and the world's lucrative business for military land vehicles. Tata Says Bank, EIB Loans Mean Jaguar Unit Won't Need U.K. Government Aid Tata Motors Ltd. said its Jaguar Land Rover luxury cars unit won't need a bailout from the U.K. government as it completes funding arrangements with commercial lenders and the European Investment Bank. IndusInd Bank Raises $100 Million Selling Shares to Investors in India IndusInd Bank Ltd. raised $100 million from a share sale to institutional investors, according to Bloomberg data. Mahindra Satyam Boss Talks Up Prospects On a swing through London to woo British clients, the new CEO of scandal-scarred Indian IT outsourcing giant Mahindra Satyam was candid but upbeat. For a man at the helm of a business that has been through so much in the course of this year, Mahindra Satyam's new CEO C.P. Gurnani looks remarkably relaxed. UK students eager to gain work experience in India Ten British students from various universities have begun their work experience with Indian companies on winning the UK-India Business Council Scholarship ... UK's Premier Inn to set up 80 hotels in India "We have planned 18 hotels in the first five years and 80 in 10 years with a total investment of Rs 3500-4000 crore," Premier Inn India Managing Director ... UK safety equipment major to focus on India, China Yorkshire-based workplace safety equipment major Arco has announced plans to focus on India and China while economies in the West recover slowly from the effects of recession and credit crunch. Based in Hull, the £220 million company considered a push into the American and European markets but decided instead to focus on India and China. Forthcoming UKIBC Delegation UKIBC Insight India Series: How to Do Business during the Credit Crunch Wednesday, 9th September 2009, 9.30am to 4.30pm including Lunch and Networking Wide Lane Pavilion, Wide Lane Grounds, Southampton SO18 2HW (Brought to you by the Southampton India Business Network) UKIBC Delegation to Delhi, Nagpur & Mumbai September 14-18 (Delhi, Nagpur, Mumbai) UKIBC is taking a delegation to Delhi, Nagpur and Mumbai as part of its Emerging Cities Roadshow. The delegation will visit Nagpur, one of the nine cities identified in the Opportunities for UK PLC in Emerging Cities of India report to explore business opportunities and also attend the UKTI awards in Mumbai. For more information, RSVP Louisa.Campbell@ukibc.com http://www.ukibc.com/news_and_media/news/12082009.aspxWed, 12 Aug 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/12082009.aspxNEW DEHLI: Coca-Cola and its bottling partners will invest $2 billion, (about 10,000 crore) in India over five years starting 2012, making it the single largest investment of the world's largest soft drinks maker in one phase since it re-entered the country 18 years back. The move, announced here on Monday, once again puts the spotlight on how critical growth in emerging markets like India is for multinational firms dealing with slowdown or stagnant sales in the US and European markets. "India has passed a certain threshold for the Coca-Cola system; we see this market as a determining factor in our growth story," said Ahmet C Bozer, Coca-Cola's president, Eurasia and Africa Group, who announced the big-ticket investment... ( Read more ) http://www.ukibc.com/news_and_media/news/131111_cocacola_invest.aspxTue, 15 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/131111_cocacola_invest.aspxHYDERABAD: The Rs 15,000-crore Indian forging industry is poised to grow by over 20 per cent a year and see investment of about $3 billion (about Rs 15,000 crore) by 2015 for capacity expansion, according to the Association of Indian Forging Industry. The industry, which thrives on 70 per cent of its business coming from automotive sector supplies, says that it is undeterred by the current slowdown in the sector and turmoil in other markets... ( Read more ) http://www.ukibc.com/news_and_media/news/131111_forging_growth.aspxTue, 15 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/131111_forging_growth.aspx 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/news/17_01_2010.aspxSun, 17 Jan 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/17_01_2010.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/news/2010_01_11.aspxMon, 11 Jan 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/2010_01_11.aspx CHENNAI: Healthcare service provider Apollo Hospitals has inked a MoU with University College, London for collaboration in training and clinical research. The MoU expresses the desire of both partners to enter into a strategic partnership to promote and carry out educational and research activities in health sciences, Apollo Hospitals said in a release. The MoU was signed by Apollo Hospitals Executive Director (New Initiatives) Shobana Kamineni and University College of London Professor Michael Worton, Vice-Provost (Academic and International) early this month in London, it said. "This collaboration will significantly enhance training programme and research carried out in priority areas of relevance in India ", Kamineni said. University College, London one of the leading multi-disciplinary universities, has over 4,000 academic and research staff and had 21 nobel prize winners as its faculty, the statement said. Read the article on The Economic Times's website http://www.ukibc.com/news_and_media/news/2011-05-23-apollohospitalssignsmouwithuniversit.aspxMon, 23 May 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/2011-05-23-apollohospitalssignsmouwithuniversit.aspx It is nearly a year since British Prime Minister David Cameron headed to India accompanied by an all-singing, all-dancing delegation of ministers and business leaders. His aim was to forge a special relationship, boost trade and become a major partner as India's economy continues to grow and Britain's to struggle in the aftermath of the global financial crisis. But has anything really changed? And though much has been written - in the UK at least - about this "special relationship", does India really care? Rajesh Chadha, Senior Fellow at the National Council of Applied Economic Research in Delhi, says it comes down to basic economics: "The most important thing is the competitive advantage. It doesn't matter how goody-goody the political relationship is - if India can source things cheaper elsewhere then the shift will be immediate." The numbers clearly show that India's imports from the UK have decelerated, he says, from a 4 per cent share in 2000 to 1.5 per cent today. "France and Germany haven't lost as much as the UK. India's exports to the UK haven't declined as much as the UK's to India. So British businesses should look at their pricing." Read the full article on India Inc's website http://www.ukibc.com/news_and_media/news/2011-05-23-theuk-indiaadvantage.aspxMon, 23 May 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/2011-05-23-theuk-indiaadvantage.aspx New Delhi: India, along with five other emerging economies, will account for more than half of all global growth by 2025, the World Bank predicts. The bank also showered praise on Tata's Nano car as an example of the importance of research and development. The bank said in its 'Global Development Horizons 2011-Multipolarity: The New Global Economy' report that Brazil, China, India, Indonesia, South Korea and Russia will help drive growth in lower income countries through cross-border commercial and financial transactions. It said the international monetary system will no longer be dominated by a single currency. The report projected that as a group, emerging economies will grow on average by 4.7 per cent a year between 2011 and 2025. Advanced economies, meanwhile, are forecast to grow by 2.3 per cent over the same period. Full article on Business Standard website http://www.ukibc.com/news_and_media/news/201105-emergingmarketsredefiningglobaleconomy.aspxWed, 18 May 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/201105-emergingmarketsredefiningglobaleconomy.aspx New Delhi - IT giant TCS and financial services major HDFC have been named as India's two best managed companies in an annual poll conducted by Finance Asia magazine. TCS and HDFC are followed by IT major Infosys, telecom giant Bharti Airtel and PSU behemoth ONGC in the list of the top-five best managed companies in India. The report also named TCS's Natarajan Chadrasekaran and ICICI Bank's Chanda Kochhar as the two best CEOs of the India, while Infosys' V Balakrishnan and Tata Steel's Koushik Chatterjee have been named the two best CFOs. Read the full article on Indian Expresses's website . http://www.ukibc.com/news_and_media/news/201105-tcs-hdfcnamedindiasbestmanaged.aspxThu, 19 May 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/201105-tcs-hdfcnamedindiasbestmanaged.aspx India urged to tighten investment scrutiny India's National Security Council has recommended that the government should tighten its scrutiny of foreign investments. The proposal is likely to raise alarm among multinationals already frustrated by the hurdles of entering the world's second most populous nation.India maintains strict bans and limits on foreign investments in a broad range of sectors, but the NSC's recommendations, contained in a confidential report being circulated to other agencies, would subject investments from certain countries in key sectors to monitoring on a continuing basis even if they are initially approved. India plans to overhaul tax system India's government is planning a big shake-up of its archaic tax system in a bid to curb widespread evasion as it confronts a sharply widening fiscal deficit amid expanding social welfare programmes. The plan, announced by Pranab Mukherjee, the finance minister, aims to foster greater compliance with tax laws by lowering key corporate and personal income tax rates, simplifying rules and eliminating exemptions blamed for eroding the tax base. Indian professionals protest new proposed UK visa curbs LONDON: Indian and other non-European Union professionals on Thursday expressed concern over a recommendation by a key migration panel to deny the right to settle in Britain for those coming here on intra-companytransfers. Intra-company transfers constitute 59 per cent of the applications under Tier 2 of the points-based system, the Highly Skilled Migrants Fourm said. Cairn India:On Verge Of Starting Rajasthan Crude Ops MUMBAI (Dow Jones)--The Indian unit of U.K.-listed Cairn Energy PLC (CNE.LN) said Tuesday it was on the verge of starting oil production in the western state of Rajasthan. The company has also received approval from the federal government to sell crude to the state-run Mangalore Refinery and Petrochemicals Ltd. (500109.BY), Indian Oil Corp. (530965.BY) and Hindustan Petroleum Corp. (500104.BY), Bill Gammell, non-executive chairman of Cairn India Ltd. (532792.BY), said in a speech to shareholders during the company's annual general meeting Are good times back? Tesco India to hire 800 Aug. 20: Tesco Hindustan Service Centre (THSC) is hiring 800 people this fiscal year. Having begun the year with 3,200 people, the firm has already hired 300 to date and plans to close its year ending February 2010 with 4,000 employees. THSC is the global services captive of the world's third largest retailer Tesco. "We are hiring people for our IT and non-IT operations with two-three years of experience. This will include computer science engineers, civil engineers, architecture graduates, BCom/ MCom graduates, cost accountants, CAs, and MBAs," CEO Sandeep Dhar said. http://www.ukibc.com/news_and_media/news/21082009.aspxFri, 21 Aug 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/21082009.aspx Indians who can afford the good things in life may soon be able to browse for exclusive labels without having to leave the country following recent changes in investment rules. The controversy that's been touched off by retail reforms has been focused on the key decision to allow 51% overseas investment in multi-brand retailing. The move to increase the 51% limit on foreign direct investment (FDI) in single-brand retail to 100% hasn't attracted as much attention, but could see a change in existing relationships plus lead to a transformation of the Indian high street, such as it exists in upscale malls and shopping districts. Read more here http://www.ukibc.com/news_and_media/news/211111_a4e.aspxWed, 30 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/211111_a4e.aspx Information technology (IT) spending in India by enterprises will rise by 9.1 per cent in 2012, according to a report by research firm Gartner. IT spending in India is projected to touch US$ 79.8 billion in 2012 as compared to US$ 73.1 billion in 2011. Read more. http://www.ukibc.com/news_and_media/news/221111_india_it_spend.aspxTue, 22 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/221111_india_it_spend.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/news/22_10_2009.aspxThu, 22 Oct 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/22_10_2009.aspx The Board of Directors of Tata Sons at its meeting today appointed Mr. Cyrus P. Mistry as Deputy Chairman. He will work with Mr. Ratan N. Tata over the next year and take over from him when Mr. Tata retires in December 2012. This is as per the unanimous recommendation of the Selection Committee. Full Press Release http://www.ukibc.com/news_and_media/news/231111_tata.aspxWed, 23 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/231111_tata.aspx India threw open its $450 billion retail market to global supermarket giants on Thursday, approving its biggest reform in years that may boost sorely needed investment in Asia's third-largest economy. Allowing foreign retailers to take stakes of up to 51 percent in supermarkets would attract much-needed capital from abroad and ultimately help unclog supply bottlenecks that have kept inflation stubbornly close to a double-digit clip. Read more. http://www.ukibc.com/news_and_media/news/241111_cabinet.aspxThu, 24 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/241111_cabinet.aspx British Petroleum Plc (BP) and Indian Oil Corporation are planning to set up a 50:50 joint venture acetic acid plant in Gujarat. Both companies entered into a memorandum of understanding (MoU) to invest in a one-million-tonne a year acetic acid plant. http://www.ukibc.com/news_and_media/news/241111_indian_oil_bp.aspxThu, 24 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/241111_indian_oil_bp.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/news/27-10-2009.aspxTue, 27 Oct 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/27-10-2009.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/news/28-10-2009.aspxFri, 23 Oct 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/28-10-2009.aspx India is the second most preferred destination for foreign investors, according to a report 'Doing Business in India' by Ernst & Young. The report explores India's key sectors, investment climate, funding scenario, laws and regulations, to aid companies that are doing, or plan to do business in India. Read more here http://www.ukibc.com/news_and_media/news/281111.aspxMon, 28 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/281111.aspx THE chief executive of a large European retailer was still sceptical at lunchtime on November 24th when news started trickling through that India's government was finally letting international companies do business in the subcontinent's vast retail market. "I will believe it when I see it," he said. A few hours later it was official. After procrastinating for two decades, India is opening up its underdeveloped and fragmented retail market to foreign direct investment. Read more here http://www.ukibc.com/news_and_media/news/281111_wholesale_reform.aspxMon, 28 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/281111_wholesale_reform.aspxAlliance Medicorp, a joint venture between Apollo Hospitals and Chennai-based medical technology company Trivitron Healthcare Pvt Ltd, is planning to raise around Rs 60 crore from private equity (PE) investors to fund its expansion plans. Post-dilution, Apollo Hospitals would have around 51 per cent stake, Trivitron Healthcare would hold around 30-35 per cent stake and the rest would be with the investors. Trivitron Healthcare, which is into manufacturing of medical technology products including imaging products, has recently announced a strategic investment in Mumbai-based Kiran Medical Systems Ltd, which manufactures image enhancement accessories and radiation protection products. The move is aimed at strengthening its operations in the medical imaging segment. The strategic investment is a combination of cash and stock swap, and the agreement includes options for Trivitron to increase its shareholding over the next few years. The total capital base of Rs 100 crore will be utilised for Medforts expansion plan for the next two years. Diabetes and eye-care centres will come up in Andhra Pradesh, Punjab, Haryana, Maharashtra, Tamil Nadu, and Karnataka. Medfort is also setting up a centre in Ras Al Khaimah, UAE. Plans are also on to expand into Africa, South Asia and South East Asia. Read the full article on News Projects website http://www.ukibc.com/news_and_media/news/alliance-medicorp-ro-raise.aspxTue, 18 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/alliance-medicorp-ro-raise.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/news/ambani.aspxFri, 02 Jul 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/ambani.aspx The following item is a member release BDP established its first design studio in India in January 2010, located in the leafy Green Park area of south Delhi. Following several years of undertaking projects and building relationships with clients across India from its British and Dutch studios, the Indian studio now provides an excellent base from which to provide full support for those projects and to win more commissions. To read more, click here http://www.ukibc.com/news_and_media/news/bdp.aspxSat, 11 Sep 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/bdp.aspxBenoy, the international award-winning architect and designer behind the Westfield shopping centre in West London, has announced major contracts in India at the start of a trade mission to the country led by Business Secretary Vince Cable. Read more http://www.ukibc.com/news_and_media/news/benoydeal.aspxThu, 20 Jan 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/benoydeal.aspx There is no reason for any pessimism on Indian retail market prospects, Sanjeev Agarwal, the Joint CEO of Big Bazaar, the Future Group chain, said here on Friday. Speaking to Business Standard at the launch here of their 148th store in the country, he said the market was far from saturation. "We plan to continue opening one to two stores every month," he said. "We are positive on consumer spending." Read more http://www.ukibc.com/news_and_media/news/bigbazaarnoproblem.aspxTue, 08 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/bigbazaarnoproblem.aspx Members of the British India Roads Group, run by the UKIBC, met with Senior National Highways Authority officials and Indian contractors, developers and funders last week. The workshop was attended by Minister Kamal Nath and Dr Vince Cable, Secretary for State for Business Innovation and Skills who witnessed the signing of an agreement on greater cooperation for trade and investment in the roads and highways sector in India. Members of the British India Roads Group including Arup, Balfour Beatty plc Mott MacDonald, Serco plc, Halcrow, JCB, KPMG and Pinsent Masons met with Senior National Highways Authority officials and Indian contractors, developers and funders including L&T, Gammon and HCC at an interactive workshop in New Delhi on Tuesday 18th January. They discussed the India road development programme and areas for collaboration and UK participation. Kamal Nath, the then Minister for Road Transport and Highways, remarked that "India wants to have world class roads" and therefore, quality and improved levels of service is a top priority. Significant OMT contracts will be bid in the coming year and operation and maintenance of roads is one of the areas identified in which greater participation from UK companies with expert knowledge of service and asset management is needed. NHAI stated that the UK could offer much knowledge in contract management, asset management, best technical, construction and industry practices and highways management. Nath invited BIRG members to the workshop to delve deeper into some of the issues raised in BIRG's 2010 report "The Four laning of Ranchi Rargaon Jamshedpur in the State of Jharkand". Workshop sessions covered, finance and business case, procurement and concession, technical - design and engineering and construction and operation and maintenance. There were lively discussions covering the above areas. The main challenges identified include capacity constraints, long term finance, and skills training across all areas from construction skills to project management. There was clear agreement that going forward long term finance to match the whole life of the asset is essential, and it emerged that structural changes are currently being considered by the relevant Ministries and RBI to open up additional sources of long term finance. For more information on the opportunities for UK companies in the Infrastructure sector, please contact caroline.erskine@ukibc.com http://www.ukibc.com/news_and_media/news/birgminister.aspxSat, 01 Jan 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/birgminister.aspxBP's (BP.L) $7.2-billion deal to jump into India's oil and gas sector with Reliance Industries (RELI.BO) is the first sign of new investment that could attract more players, helping to boost output and meet surging demand. Read more http://www.ukibc.com/news_and_media/news/bpreliancedeal.aspxFri, 04 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/bpreliancedeal.aspxNew Delhi is open to foreign investments to establish new warehousing facilities to prevent the loss of up to 40 percent of its food produce that ends up rotten before it reaches the market. Read more http://www.ukibc.com/news_and_media/news/britishsupermarketgiant.aspxTue, 01 Feb 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/britishsupermarketgiant.aspx The (Indian) Cabinet on Tuesday approved UK's Reckitt Benckiser's proposal to set up a new wholly owned subsidiary investing company that would acquire Paras Pharmaceuticals Limited, with an expected investment of Rs 3,300 crore ($738.3 million), a government statement said. Last year, Reckitt had agreed to buy privately held Indian ointments and personal care company Paras Pharmaceuticals for about $726 million. Read more http://www.ukibc.com/news_and_media/news/cabinetreckittbenckiser.aspxTue, 29 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/cabinetreckittbenckiser.aspxGeneva: Carmakers across the world, including India's Tata Motors and Mahindra & Mahindra, are chasing green technologies such as hybrid and electric vehicles to cope with rising oil prices. Read more http://www.ukibc.com/news_and_media/news/carmakersgreentech.aspxTue, 08 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/carmakersgreentech.aspx read story NEW DELHI: The country's nascent cloud computing market, a platform where software applications and related resources can be shared online, is expected to touch USD 1 billion in the next five years, says a survey. "India's cloud computing market will be around USD 1 billion over the next five years," consulting firm Zinnov Management Consulting said in a report. Cloud computing, which is Internet-based, facilitates sharing of technological resources, software and digital information. The emerging field would function on a pay-per-use model, helping technology companies to bring down cost. The cloud computing platform is expected to mainly benefit enterprise SMB (small and medium business), SOHO (small office, home office) and consumer segments. A recent study, sponsored by IT infrastructure firm EMC, said that rising growth in the digital information space would create a significant market opportunity for both the cloud computing and storage. Digital information includes data, text and media elements. Going by EMC estimates, the storage market in India will be over USD 1 billion in the next five years. Digital information in India will grow from 40,000 petabytes to 2.3 million petabytes (one petabyte equals 1,000 terabytes) over the next decade (2010 to 2020), twice as fast as the worldwide rate. http://www.ukibc.com/news_and_media/news/cloud.aspxThu, 16 Sep 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/cloud.aspxNEW DELHI -- Coal India Ltd. said it plans to invest in building railway lines and wagons in the South Asian country as part of its efforts to ease bottlenecks in ensuring on-time supply of the fossil fuel to customers. Read more http://www.ukibc.com/news_and_media/news/coalindiainvest.aspxTue, 08 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/coalindiainvest.aspxNEW DELHI: Cobra Beer , which has invested over $30 million in India so far, plans to double the production capacity of its Bihar unit within two years and expand business in other states through tie-ups, says the company's India-born, London-based founder and chairman Karan Bilimoria. Read more http://www.ukibc.com/news_and_media/news/cobratieups.aspxMon, 24 Jan 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/cobratieups.aspx While modern retail players are unhappy over the Government's weakness on foreign direct investment, they are upbeat about the decision to include cold chains in the infrastructure sector. "Warehousing space increase will help us not only in bringing fresh foodstuff to customers, but also in reduced prices because of less wastage," says Mr Ashutosh Chakradeo, Head, Buying, Merchandising and Supply Chain, HyperCity Retail India. Read more http://www.ukibc.com/news_and_media/news/coldstorage.aspxTue, 08 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/coldstorage.aspxMumbai: Vodafone India, the country's second-largest mobile telephony company by subscribers and revenues, is drawing up a new business plan to capture the next growth phase in a market where data is quietly eating into the voice revenue pie. "I see this year as the inflection point in the life of the industry," says Samaresh Parida, director (strategy), Vodafone India. "If you look back last three years, look at successful companies and look three years ahead, then the rules of the game would be completely different from what they used to be." The Indian subsidiary of the British company had, in April, freed itself from the shackles of hostile Indian partner Essar Group by purchasing its 33% stake for $5 billion, paid R11,617 crore to buy third-generation radio waves or spectrum and stuck to metro and A class territories or circles. "Debt has never been a issue for us," says Parida. The company gains courage from its parent sitting on £6.2 billion, some of which it is ready to pump into India. But it has to catch up fast as India's 350 million youth spends more time browsing internet on mobile phones on a daily basis. Mobile telephony companies are grappling with high costs to acquire subscribers, lower tariffs squeezing average revenue per user and heavy debt to purchase 3G licence and roll out a 3G network. For the industry as a whole, Arpu has been falling over the last three years to Rs 100 from Rs 250. Vodafone's Arpu at Rs 168 is much below that of market leader Bharti Airtel, which stood at Rs 183 in September quarter. Vodafone India, with Rs 650 crore operating free cash flow, is no more sticking to earning more from its voice subscribers, and instead will derive more from data and mobile payments which it pioneered in Kenya. Consultants say the shift in strategy is laden with risks. "Potential risks for the growth of data service revenue in India include slow development of content and irrational pricing," wrote analysts Suresh Mahadevan, Jinjin Wang and Varun Ahuja at foreign brokerage UBS Equity Research in a report released on May 4, 2011. "Additional spectrum is needed to realise data growth potential in India, and slower-than-expected progress on allocating additional spectrum would likely hamper data growth in India." However, Vodafone is not new to taking such risks. "They have faced the same challenges as others of falling mobile voice prices, driven by competition and regulation," said Robin Bienenstock, senior analyst, European & Latin American Telecommunications at London-based Sanford C Bernstein, an investment-management firm, in an email response. Vodafone is relying on its past success in both developed and developing markets to grow in India. One way to arrest revenue fall is to club voice and data, say foreign analysts tracking Vodafone Plc. "Tiered and bundled data plans which allow subscribers access a large data allowance if they also buy a large minutes or short messaging service allowance is being introduced," says Bienenstock of Sanford C Bernstein. "This way, the operator is ambivalent to the customers' usage habits; they can use voice, SMS or data applications and the operator still gets paid." "Voice has got saturated and mostly penetrated, although rural opportunities are there, but it won't be a big thing," says Parida, who joined the company in 2008 after a two-decade stint with aerated soft drink maker PepsiCo. "In the coming times, data would become a big piece and bigger driver of revenues." Vodafone's rivals like Reliance Communications are consciously shifting its portfolio to data, without compromising on voice. "Balancing of portfolio between voice and data will not happen by reducing on voice but by increasing voice and exploding data consumption," Syed Safawi, president wireless business, RCom said in an earlier interaction with FE in September. Currently, non-voice revenues constitute about 20% of RCom's wireless revenues, but Safawi aspires to take that to around 35-40% "in the coming few years." Data users have more than doubled as more young subscribers browse internet on the go, download movies and music. Analysts say data will take off in India because of higher data transfer speed facilitated by 3G, falling smartphone prices, richer applications and operators offering price based promotional offers to trigger initial trails of data services. "When I say data, it's not 3G alone; a lot of it is still in 2G and this is going to explode," says Parida who honed his skills under PepsiCo chairman Indra Nooyi. "Once it reaches the inflection point, it will take off." Data contributed 16.28% or Rs 1,230 crore to Vodafone's revenue in the fiscal September ended quarter from Rs 950 crore in the same period previous year. "Both handset data and mobile data cards will definitely grow" says Parida. "That is one big piece in the strategy in terms of our investment." Vodafone's second strategy hinges on mobile payments. "Today, we have about 100 million internet users in India and around 50% use mobile phone to access internet," says Parida. "We see this number outstripping the computer number." Rivals have moved much faster than Vodafone in mobile payment offers. Market leader Bharti Airtel was the first off the block to enable cashless payment via mobile phones for its subscribers. "Companies should know what they want to do," says Neeraj Aggarwal, partner & director, BCG India. "Do they want to offer a prepaid wallet or a mobile account linked to a bank account, or both?" BCG estimates that $350 billion payments and banking transactions could flow through mobile phones by 2015, while credit and debit card transactions are roughly $235 billion today. Vodafone is betting on leveraging its global success in India. The company was the first to launch mobile payments in Kenya in 2007 under M-Pesa. Now 10% of the country's GDP is transacted through it. "Mobile devices reduce the cost to serve customers by 50-70%, making it possible to offer financial services to a vast population once considered unprofitable," wrote consultants Christopher P Beshouri and Jon Gravråk in Mckinsey Quarterly Review released on February 2010. The analysts expect 360 million to use mobile money by 2012 from 45 million now and could generate $5 billion revenues every year in direct revenue and extra $3 billion in indirect revenue, higher average per user for traditional voice and short message service. Vodafone is relying on mobile banking to revolutionise small savings, money transfers, utility and subsidy and even National Rural Employment Guarantee Scheme (NREGS) payments. "The mobile phone can be a poor man's credit card," says Parida. "The key to this business is to generate a large volume of transactions, since the transaction values will be small." Mobile-enabled business correspondents, who are authorised to conduct business on behalf of banks, can serve a customer 8-15% cheaper, a transaction much below the present $1-1.5 at a branch, consultants Neeraj Aggarwal, Nimisha Jain and Arvind Subramanian at BCG India wrote in a report released in July 2011. "For customers willing to conduct banking directly on their mobile phones, the cost for a transaction drops to less than 1%." However, Parida says there are hurdles to grow e-commerce in India. "Large opportunities exist in small payments," says Parida, "The regulatory environment must keep pace with the technologies." "We need to change to give way to these developments," he added. Read the full article on Financial Express website http://www.ukibc.com/news_and_media/news/data-services-set-to-drive-vodafone-in-india.aspxWed, 09 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/data-services-set-to-drive-vodafone-in-india.aspxWhen I visited your country last summer, I came with a very clear purpose: to take the relationship between India and the UK to the next level - to make it stronger, wider and deeper. This week, our two countries are making good on that promise. Yesterday in Downing Street, we held the first ever UK-India CEO Forum, bringing together business leaders from our two countries and giving them the chance to exchange ideas, develop links and seize opportunities. Why does this matter? From a British perspective, it's clear. Read more http://www.ukibc.com/news_and_media/news/davidcameroneconomictimes.aspxFri, 04 Feb 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/davidcameroneconomictimes.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/news/dipp_discussion_paper_on_retail.aspxSun, 13 Jun 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/dipp_discussion_paper_on_retail.aspx LONDON: India's leading pharmaceutical firm Dr Reddy's Laboratories has moved its UK subsidiary , Chirotech, to a new purpose built lab facility at the Cambridge Science Park . The new 33,000 sqft facility will provide a range of small molecule manufacturing services for both Dr Reddy's and to third-party pharmaceutical companies as part of the firm's contracting business. "Apart from growing the existing chemocatalysis and biocatalysis business, the new site will have capabilities in fast growing segments like activated mPEGs and peptides," Chirotech site head David Chaplin was quoted by pharma journal in-Pharmatechnologist.com. Read more http://www.ukibc.com/news_and_media/news/drreddysukrelocation.aspxThu, 14 Apr 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/drreddysukrelocation.aspxE&Y released its India attractiveness report 2011. To read, click here. http://www.ukibc.com/news_and_media/news/eandyindiareport.aspxWed, 26 Jan 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/eandyindiareport.aspx Opening up India's chaotic, underdeveloped retailing industry to foreign supermarket chains would bring many benefits says The Economist . Read more http://www.ukibc.com/news_and_media/news/economistsupermarketfdi.aspxFri, 15 Apr 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/economistsupermarketfdi.aspxBangalore: Several foreign companies are showing interest in the Indian farm mechanisation sector as it has immense potential for rapid growth, according to M.M. Pandey, Deputy Director-General (Engineering) of the Indian Council of Agricultural Research. Read more http://www.ukibc.com/news_and_media/news/farmmechanisation.aspxTue, 15 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/farmmechanisation.aspxNew Delhi: Foreign institutional investors (FIIs) injected a record US$ 6.4 billion in October 2010, which was almost 25 per cent of the total inflows in the stock market registered so far in 2010. Read more http://www.ukibc.com/news_and_media/news/fiiinflows.aspxMon, 01 Nov 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/fiiinflows.aspx MUMBAI: The Indian government has approved funds for establishing 15 mega food parks across the country, an official said Monday. Speaking at the two-day Food Forum 2011, Food Processing Secretary Ashok Sinha said: "We are setting up 15 mega food parks initially out of the 30 planned during the 11th Plan. These parks will provide state of art infrastructure for food processing sector." Read more http://www.ukibc.com/news_and_media/news/foodparks.aspxTue, 29 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/foodparks.aspx By Jill Beckingham I am the wife of the Deputy High Commissioner in Mumbai. This is an amazing city, every adjective describes it- vibrant, exciting, colourful but also dirty, chaotic and noisy! The hardest part for me was seeing so much poverty next to such wealth, and I wanted to do something to help. I decided to do a charity walk following the route of the famous Salt March eighty years ago from Ahmedabad to Dandi. I am starting on November 18th and will finish on December 4th, taking in 3 rest days along the way. The Association of British Scholars (ABS) in Baroda are partnering with me and have helped with the planning and logistics. As there will be no hotels along the way I am hiring two Bollywood "vanity vans", to sleep in, it will be basic but each room has its own toilet facilities, but no shower! On the rest days I will go into a town and find a hotel (if they let me in!) The walk is flat and mostly through rural areas, but walking about 25 kms a day can be tough on the feet so I hope that my boots last the pace! I will be supporting three NGOs in Mumbai, and three in Gujarat. In Mumbai these are: Muktangan, a school and teacher training facility, Apnalaya, helping families living on the dumpsite, and Magic Bus, supporting youth through sport. All of these have been founded by British people. In Gujarat they are Shram Mandir, a leprosy Centre, Akshar Trust which is a school for the deaf, and the Bhasha Centre for Tribal Communities. All are causes which I am sure Gandhi would have supported. I have had good corporate response from some of the top Indian companies with sponsorship from Tata, Essar, Aditya Birla,Reliance, Goodrej, Cox and Kings, GlaxoSmithKline and Mahindra. However I have not yet reached my target to be able to give each of the six NGOs the equivalent of about ₤15,000. There is now a website www.indiaukfriendshipwalk.com with the route and all information about the walk and how to donate. Donations can also be given on a Just Giving page, www.justgiving.com/Jill-Beckingham . Thank you for your interest. http://www.ukibc.com/news_and_media/news/friendshipwalk.aspxMon, 15 Nov 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/friendshipwalk.aspxNEW DELHI: The government has announced a series of policy initiatives and programmes in the field of information and communication technology for implementing the growth agenda for IT and electronics manufacturing sector in the Eleventh Plan. Read More http://www.ukibc.com/news_and_media/news/govtnationalelectronicmission.aspxTue, 08 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/govtnationalelectronicmission.aspx NEW DELHI: The total value of private equity, merger and acquisition and qualified institutional placement deals involving India Inc adds up to a whopping USD 20.56 billion so far this year, according to global consultancy firm Grant Thornton. Corporate India's deal activity in the period between January till March this year was better than last year, with the bulk accounted for by foreign firms or their subsidiaries that acquired Indian businesses. The total merger and acquisition, private equity and qualified institutional placements for the first quarter of this year amounted to USD 20.56 billion through 221 deals, according to Grant Thornton's latest Dealtracker issue. Read more http://www.ukibc.com/news_and_media/news/grantthorntondealtally.aspxFri, 08 Apr 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/grantthorntondealtally.aspxThe bourses do not have an understanding of renewable energy certificates, as is reflected in the low stock prices of renewable energy firms. But as awareness increases, valuations will rise, enabling such companies to invest more. Would you mind paying one-and-a-half paise more for electricity that comes from windmills or solar plants? Most likely, you would not. But that is the burden, according to Dr Pramod Deo, Chairman of the Central Electricity Regulatory Commission, the 'renewable energy certificate' (REC) regime imposes on electricity consumers in India. What the extra one-and-a-half paise does (or is expected to do) is significant. It will give people who put up renewable energy capacities such as windmills, biomass and solar plants sufficiently attractive returns, justifying their investments. However, for this to work, a key parallel activity is the development of a robust market for renewable energy certificates and here is where action is needed urgently now. Eight months after it came into existence, the REC green shoots are growing well. It is recognised the world over that the REC market is a key component for the renewable energy industry to develop at a healthy pace. The REC is basically a tradable unit given to a producer of renewable power, who opts not to sell the power for a preferential tariff. Strengthening market The producer - say, a company that owns a windmill farm - will get the REC even if it sells the power to a part-owner of the wind farm at a negotiated price, provided it does not get the benefit of any other incentives. The RECs, which are based on generation, are sold through the power exchanges, within a prescribed price band. Those who buy them are the 'obligated entities', or the power distribution companies or bulk consumers of power, which are mandated by law to buy either green power at high prices in the market, or to buy the RECs instead. In last month's trading - trading takes place on the last Wednesday of each month - as many as 46,362 RECs changed hands, which was more than twice as much as in the previous month. (RECs are traded on Indian Energy Exchange Limited and Power Exchange of India Limited. The former accounted for 89 per cent of the RECs traded last month.) The prices firmed up too. The average price worked out to Rs 2,300, against Rs 1,800 in the previous month. Now that the market for Renewable Energy Certificates is getting better by each passing trading session, the time has come for bringing measures to deepen it. Urgent action is imperative if only because more and more RE power capacities are coming into the REC regime. Income from RECs can be substantial (see Table). The stock market does not as yet have either a sufficient understanding or awareness of the RECs, as is reflected in the low prices of renewable energy company stocks; but when the awareness builds up, valuations will rise, enabling companies to raise more funds for further investments in renewables. But fundamental to all these are measures to deepen the REC market. In a recent chat with Business Line , Dr Pramod Deo, underlined the importance of enforcement of obligations, a factor that may be the primary motive force behind the development of the REC regime. Purchase obligation Enforcement is largely in the hands of State electricity regulators and a lot depends on how strict they are in making the obligated entities discharge their Renewable Purchase Obligation (RPO). Industry watchers such as Mr Vineeth Vijayaraghavan, Editor of the online newsletter, Panchabhuta, have noted that obligated entities in some States still question the application of the RPO to them, in the hope of wriggling out of - or at least putting off - the burden by a few years. Obviously, the first step is to tell them that there is no wriggling out. An effective way of sending this signal is to ask for a 'compliance undertaking' at the beginning of each financial year, stating that the OE must meet its obligations. Compliance issues A corollary of this is making compliance quarterly, against annual. Otherwise, the market will tend to get skewed, with most of the activity happening at the year-end. As the Table shows, the supply side of the market has been fairly well taken care of. But the demand side is still a niggling issue and the question 'what if there are no takers for the RECs' is still weighing on the minds of many. Mr Vishal Pandya, REConnect Energy Solutions, a renewable energy consultancy, says that some sort of a 'renewable regulatory fund' should be created to take care of the off-take of the RECs, perhaps at the mandatory minimum price, in case there are unsold RECs in the market. Mr T. Shivaraman, Vice Chairman of the renewable energy IPP, Orient Green Power, has a similar view. He wants the government to devise a mechanism for buying the unsold RECs, rather than wait for the defaulting OEs to pay a fine and then pay the REC sellers out of it. While these are but the basic imperatives, a lot more ought to be done. Today, the REC is sold once. The seller gets the money and the instrument changes hands, and is dead. Okay, for starters. But, obviously, a financial instrument should be allowed to be traded many times. And it is not too much to expect the regime to make way for forward trading in RECs, followed by other forms of derivatives. After all, what is a financial market without derivatives? Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/green-energy-needs-market-push.aspxTue, 18 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/green-energy-needs-market-push.aspx India has long wanted to be a hi-tech manufacturing hub, with little success so far. But that could change soon. A new set of policies as well as a possible Rs 5,000-crore R&D fund for electronics is being finalised to spur hardware manufacturing. There will be separate schemes to galvanise investments for semiconductor wafer fabrication units as well as for electronics and telecom product manufacturing. A Focus Group within the Department of IT will be set up with a specific mandate to boost electronics production levels. The Rs 5,000-crore R&D fund being talked about will support development of products relevant to the Indian market. The funds, officials say, could be deployed in areas of innovation (language technology, handheld devices, amongst others) and development of Indian microprocessor. Read more http://www.ukibc.com/news_and_media/news/hardwareproduction.aspxTue, 12 Apr 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/hardwareproduction.aspx"We will soon review the FII limit for government securities, but the final decision will be taken by the RBI," the official said. FIIs have almost utilised the total limit of $10 billion of Rs 43,650 crore available to them. After the last auction, the FII inflow in government securities stood at Rs 42,388 crore. As the global financial inflows have slowed down, measures that boost capital inflows are high on the agenda of the government. The proposal figured in a meeting held by the capital markets division with stock exchanges, Sebi and department of revenue. Ahigher limit has become necessary after the recent auctions for government bonds has devolved on the primary dealers as investors have stayed away fearing the government borrowing may overshoot even the enhanced limit. India has, in stages, liberalised FII investments into both debt and equities and is considering various other options to attract flows. The finance ministry has already initiated discussions with financial sector regulators, including the RBI and the Sebi on allowing foreign individuals to invest directly in equities after allowing them to invest through mutual funds. While stock exchanges and Sebi had favoured removal of STT, the finance ministry is not in favour of removing it. The official said the revenue department was only in favour of cutting the rate and not removing it altogether. Read the full article on The Economic Times website http://www.ukibc.com/news_and_media/news/higher-fii-investment-cap-on-govt-debt-soon.aspxTue, 18 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/higher-fii-investment-cap-on-govt-debt-soon.aspxMUMBAI: ICICI Bank Ltd , India's second-largest lender, posted a 30.5 percent growth in quarterly net profit on Monday, beating expectations, on growing demand for credit and rising fee income. Read more http://www.ukibc.com/news_and_media/news/icicigrowth.aspxMon, 24 Jan 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/icicigrowth.aspxIndia to be ranked 3rd largest Internet market after China and the US NEW DELHI: By the end of this year, one in every 10 Indians will be an Internet user, making the country the third-largest Internet market in the world after China and the United States. At the end of December, 121 million Indians will be accessing the Internet at least once a week to check emails, chat or log on to a social network, a survey has found. India is adding Internet users at the rate of almost 5-7 million a month, and at the current pace it will surpass the US, which has about 245 million users, in less than two years. According to the survey by IMRB and the Internet &Mobile Association of India, the country's Internet population was about 112 million by September. When this year ends, about 9 million more will be added, making India one of the world's top markets for Net-based businesses. The profile of users is evolving rapidly, showing that the medium has made deep inroads into smalltown India and among the less affluent. There are more Internet users in towns with a population of less than 5 lakh than in the top eight metros put together. Schoolchildren make up more than a fifth of the users and more than one in 10 belong to the lowest socio-economic groupings. The Internet explosion is also rapidly opening up markets for online businesses, consumers and retailers. For entrepreneurs such as Deepinder Goyal, founder and CEO of Zomato.com, the Internet is changing the business landscape forever in favour of India. "Now startups look to India when planning to start a business... earlier they would flock to the US," he said. The number of customer visits to his site, which provides listings of restaurants, has doubled in the past six months to 2 million. "We are seeing 10% week-on-week growth." About 2 billion people worldwide access the Internet and 25% of them are from China. India contributes about 6% to the world's Net population and the US 12.5%. Internet-Based Firms Upbeat Internet is growing at an unprecedented pace in India. Businesses are experimenting with new models, creating a snowballing effect. It has got the venture capitalists interested and the kind of valuations in the e-commerce space we are seeing are phenomenal," said Upen Rai, director at Times Internet. Already, firms such as Google, eBay, Yahoo and Facebook have a large presence in India and are delighted by the prospects before them. "India crossing the 100 million Internet users mark represents an incredible market opportunity for us. It will particularly foster the growth of e-commerce in India," said Rajan Anandan, MD of Google India. Even though the user base is vast, the total number of Internet connections is just 14.7 million, of which 11.87 million are broadband links. This indicates that most people share Internet access in offices or cyber cafes. An average unlimited broadband plan costing about Rs 750 per month is still too expensive in a country where the monthly per capita income is Rs 2,810. Of all the broadband connections, only 12% access the Internet at 1 Mbps or higher speeds. About 54% of users access Internet at speeds of 256 Kbps or lower, and for 34% the speeds are between 256 Kbps and 1 Mbps. The survey found that more than 75% of Internet usage is among school- and college-going students and those who have recently graduated. However, there is a stark contrast in the usage patterns between urban and rural users. An urban youth accesses the Internet for emails, social networking and research about education, in that order of priority. A rural youth uses the Internet to listen to music, watch videos, download photos and email. "India is now of one of the top markets for Yahoo. We are now focused on localising content for rural masses," said Nitin Mathur, the head of marketing at Yahoo! India. Mumbai has the highest number of Internet users (6.2 million) followed by Delhi/NCR (5 million), Kolkata (2.4 million) and Chennai (2.2 million). While common access points such as cyber cafes continue to be important, there has been a dramatic fall in access from cyber cafes. Access from home, at 37%, has grown at the cost of cyber cafes and access from offices. The survey found that of the active users, 48% used the Internet at least six times a week and 28% used it daily. Read the full article on Economic Times website http://www.ukibc.com/news_and_media/news/india-to-become-3rd-largest-internet-market.aspxTue, 08 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/india-to-become-3rd-largest-internet-market.aspx India is aiming to achieve double-digit economic growth within two years, as the country's recovery from the global downturn picks up pace. Finance Minister Pranab Mukherjee said he was optimistic the economy should soon return to the 9% growth it achieved before the downturn. Read more http://www.ukibc.com/news_and_media/news/indiadoubledigitgrowth.aspxMon, 15 Nov 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/indiadoubledigitgrowth.aspx NEW DELHI, APRIL 14: The European Union has exuded confidence that negotiations for the proposed free trade agreement between the 27-nation block and India would be concluded by the end of this year. The European Union's Ambassador to India, Ms Dani Smadja, has said that the negotiations for the proposed Broad-based Trade and Investment Agreement (BTIA) are on track. "What is clear is that there is a will on both sides to finish the negotiations this year. My impression is that they are on track," Ms Smadja told EurActiv, an European website, in an interview. Read more http://www.ukibc.com/news_and_media/news/indiaeufreetradetalksendofyear.aspxThu, 14 Apr 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/indiaeufreetradetalksendofyear.aspxBusiness Secretary Vince Cable will use the first speech on his latest trade mission to India to tackle Indian business concerns over the UK's immigration controls. Read more http://www.ukibc.com/news_and_media/news/indiaimmigration.aspxMon, 17 Jan 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/indiaimmigration.aspx read story BOSTON: Infosys, TCS, ITC and Mahindra and Mahindra are among the 16 Indian companies named in Forbes' magazine's 2010 compilation of the Asia-Pacific's 50 biggest listed companies. India and China together account for 32 of the 50 companies in Forbes' sixth annual 'Asia's Fabulous 50 listed companies'. The other Indian companies making it to the list are Adani Enterprises, Axis Bank, Bharat Heavy Electricals, Dr Reddy's Laboratories, HCL Technologies, HDFC Bank, Hindalco Industries, Jindal Steel and Power, JSW Steel, Kotak Mahindra Bank, Larsen and Toubro and Sterlite Industries. When the list was first compiled in 2005, only five Chinese and three Indian outfits made the cut. "Economies around Asia bounced back last year and so did many of our Fabulous 50 companies. Earnings, revenues and stock prices soared almost across the board after a rocky time the previous year," Forbes said. Among the Indian firms, Forbes specifically talks about Axis Bank and ITC. "The two are leaders in their industry -- Axis Bank, India's third-largest non-state-owned bank, and ITC, led by Y C Deveshwar, who is determined to give ITC a life beyond tobacco. "Axis, with $41 billion in assets and nearly 22,000 employees, is one of the fastest-growing companies in the country," Forbes said. Its revenues rose 29 per cent to hit $3.4 billion dollars in the year ended March 31, while net profit jumped 57 per cent to $553 million. "It's this performance that puts Axis on the Fab 50 for the second straight year. The bank is looking to add 200 branches this year to the 1,055 it already has," it noted. Crediting Axis Bank Chief Executive Shikha Sharma for the bank's performance, Forbes said, "In the 15 months since she took charge, Sharma has teased out the bank's strengths -- infrastructure finance, retail banking, processing payments and lending to small and medium-size enterprises." "She's also put more emphasis on risk management," it said, quoting Sharma as saying, "It's not about being the biggest. We want to grow our book sensibly. We want to do something that we are confident of executing well." In its profile of ITC and Chairman Y C Deveshwar, Forbes says, "In Deveshwar's era, ITC has clearly achieved more than a measure of progress. Today about half of its net revenues of $4.3 billion comes from cigarettes and the other half from hotels, paperboard, infotech, agribusiness and now increasingly, foods and personal care. "By the time Deveshwar is to step down in April, 2012, he will have spent more than 15 years as chairman of ITC. But that's not a sobriquet that Deveshwar really cares about. "For the past decade, he's been transforming ITC from a cigarette-maker to a fast-moving consumer goods company," Forbes added. In the last three years, he has "upped the ante" and taken on a plethora of global and local rivals, including Unilever, Procter & Gamble, PepsiCo, Britannia, Nestlé and Parle Agro, all at one go. The company's five-year plan envisions a nearly four-fold growth in revenues, Forbes said. "In the consumer business, you need scale to build a franchise. It is a chicken-and-egg problem. We will infuse life into these businesses so that they can stand on their own legs," Forbes quotes Deveshwar as saying on his future plans for the company. To compile the list, Forbes started with 936 companies that had at least $3 billion dollars in revenue or market capitalisation. It took into account these companies' revenue, operating earnings and return on capital over the past five years in order to rank them. It also considered the most recent results, share-price movements and outlook. http://www.ukibc.com/news_and_media/news/indiancompanies.aspxThu, 16 Sep 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/indiancompanies.aspxNEW DELHI: If India were to outsource its ongoing national census 2011, it would need to employ half of Denmark for a little less than a year to complete the project. Read more http://www.ukibc.com/news_and_media/news/indiaspopulation.aspxTue, 01 Feb 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/indiaspopulation.aspx As India plans to spend US$ 1 trillion on infrastructure development over the next five years, the Minister for Trade and Investment Lord Green is in Delhi today, with a UK rail mission, helping British firms seek out new business opportunities. Read more http://www.ukibc.com/news_and_media/news/infratrilliondollars.aspxTue, 15 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/infratrilliondollars.aspx On November the 16th we held a successful business seminar entitled "Making Technology work for the Indian customer" at UKTI's annual Techworld expo, held at London's Excel centre.Now in its 6th year, TechWorld is dedicated to bringing together a selection of the highest quality international buyers and decision makers into Britain. Our seminar included a number of high profile speakers such as Patricia Hewitt the Chair of UKIBC, Harsha Siddaveere Vice President of BT Global Solutions Delivery, Andy Skipton-Carter the Project Director & Solution Sales Manager at Ricardo UK Ltd, Bas Van Breugel Business Manager at Phillips, Syd Syed Business Development Manager at FabriQate, and Was Rahman from UKTI. Speaking to an audience of over 80 business delegates from across the UK and India, the discussion covered how to enter and make a success out of the Indian market through innovation, as well as where to look for and get the right support when doing business in India. Making Technology work for the Indian customer provided an opportunity to highlight some of the UK's success stories in India. Notably, Syd Syed of FabriQate gave a compelling explanation of how FabriQate was able to successfully enter the Indian software market and what obstacles they had to overcome when transplanting their business model to India. http://www.ukibc.com/news_and_media/news/innovationeventpost201211.aspxTue, 20 Dec 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/innovationeventpost201211.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/news/insurance.aspxTue, 06 Jul 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/insurance.aspxMotor components makers do not want to be caught without sufficient capacity Chennai, Nov. 9: Investments in the auto component sector are not likely to be scaled-down drastically in the current year. This is largely because motor parts makers do not (again) want to be caught without sufficient capacities, when the fortunes of the automobile companies pick up, Business Line's enquiries reveal. "Two years ago, we got caught - the auto sector grew 30 per cent and we couldn't match requirements," recalls Mr Arvind Kapur, President, Automotive Components Manufacturers Association (ACMA). "There may be a slight slowdown in investments this year, with the cost of borrowing being heavy. But largely, the industry will invest according to the demands of the auto sector," Mr Kapur told Business Line. Investments are likely to be around $2.5 billion for the next five years, plus or minus $0.5 billion, roughly in line with the estimates at the beginning of the current financial year. In 2010-11, $2 billion was invested by the auto component industry ($1.75 billion in FY10). A few companies may "tweak" budgets cautiously but there will not be wholesale reduction as this may impact future supply, opines Mr Abdul Majeed, Auto Practice Leader, PwC. "Auto markets in Europe and North America are not solid; so Asian and domestic markets will play a big role going forward." Despite sluggish sentiments in the domestic auto sector, especially in passenger cars, OEMs such as Ford and Maruti have announced capacity enhancements. Component makers will follow closely as they do not want to be caught napping, says Mr Kumar Kandaswami, Leader - Manufacturing, Deloitte. "The ticket size of OEM investments is large. Being a B2C model, OEMs cannot afford to cut down investments too much. The component sector being relatively smaller may hold back investments a bit; but there won't be large scaling down as there is the promise of orders with OEMs building capacity. Component companies will look to invest close to OEM capacity." MM Forgings and Wheels India plan to invest on capacity building for the future. Says Mr Vidyashankar Krishnan, MD of MM Forgings: "We are not scaling down investments. MM Forgings plans to invest Rs 65 crore this year on capacity building and debottlenecking at forging plants and capacity addition at wind mills." Wheels India will invest Rs 70 crore this year (up from Rs 49 crore last year). "This is in line with our initial investment plan. We will continue to invest in wheel capacity for passenger cars, as the market expands. In the current market environment, with high inflation and slow growth, we will look internally to control costs and improve productivity," says Mr Srivats Ram, MD, Wheels India. It certainly won't be an easy ride for component makers dependent on the passenger car market. For instance, passenger cars account for 40 per cent of Rane group's domestic sales. The group Chairman, Mr L. Ganesh, says it may end up spending only 60 per cent of the planned investment of Rs 280 crore this year. "We will slow down or even defer passenger car-related investments this year," says Mr Ganesh. Mr Kapur attributes this "modulation" to the demand situation. "But when the customer demands pick up, investments may be revised accordingly." Off-road sectors Auto component makers who have diversified into off-road sectors may benefit, says Mr Kumar of Deloitte. A significant part of Wheels India's investments this year will go towards expanding presence in the exports market. The company exports wheels for off-road construction equipment and agricultural applications to Japan, Korea, the US, Brazil and China. Wabco, manufacturer of air brakes, is also betting big on exports for the construction sector. Bulk of Wabco's Rs 60-crore capex in FY12 will go into its upcoming export plant in Chennai. This is also the time for component makers to exploit inherent capacity by choosing the right product for the right factory (line balancing) to squeeze the last kilogram of capacity from the supply chain, advises Mr Kumar. (Wheels India is going through a "massive" relocation of lines in facilities which are under-utilised by moving them to another plant.) The current investment scenario in the component industry is likely to continue for the next couple of years. "Nobody will jump into big investments. There won't be peaking of investments till 2014," warns Mr Kumar. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/investments-in-auto-parts-sector.aspxWed, 09 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/investments-in-auto-parts-sector.aspxIndia's information technology sector will grow annually at the rate of 25 percent to 26 percent due to a good performance, according to N R Narayana Murthy, founder and chairman of Infosys Technologies Ltd, India's second biggest software services company. Read more http://www.ukibc.com/news_and_media/news/itsectortogrow.aspxTue, 25 Jan 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/itsectortogrow.aspx In the UK, more Land Rovers were sold in a month than in the history of the 63-year-old company, with 11,400 snapped up, beating the previous record of 11,300 set last year. Land Rover also secured record March sales in China and India, with sales up 33pc and 61pc, while Jaguar enjoyed its best ever month in India as well as a 70pc rise in Russian sales and a 49pc rise in Germany. Read more http://www.ukibc.com/news_and_media/news/jaguarlandrover.aspxThu, 07 Apr 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/jaguarlandrover.aspx Interview with Kamel Hothi, Director, Asian Markets, Lloyds Banking Group Can I start by asking why Lloyds is focusing on the Indian market? Our focus on Asian businesses is now well known. They play an increasingly important part in the UK economy and around the world. We want to support all our diverse customers including those trading in India and those hoping to operate in the UK Over these years we have demonstrated our commitment to the Asian Community by developing a range of tailored services for both businesses and individuals. When you talk about your commitment, what do you mean? We have shown our commitment in many ways from investing in creating products and solutions to helping raise the profile of those Asians who are considered ground breakers in their field. For example we have sponsored over 27 National events over the last seven years and most recently sponsored the Asian Awards, as featured in this edition of India News, as well as the Asian Women of Achievement Awards. In recognition of our long term commitment I am proud to share that we too have won over 7 community awards for our support to Diversity. We hope to continue this support and increase our knowledge with the help of friends like the UKIBC, who have been supporting us to build new relationships. So, what support have you given businesses in the downturn? Lloyds Banking Group's strategy is to be there for clients through the bad and the good times. For example in the first half of 2010 we delivered £23.7 billion of committed lending to SMEs and Corporates, an increase of £5 billion on the same period in 2009. Also, we have helped 100,000 businesses start-ups in the past 12 months, which is in line with our SME Charter pledge. This is as well as delivering over 200 local road shows on how businesses can survive the downturn in the economy. These are just some of the tangible examples of the help we have provided our clients. How have you found Asian businesses in the UK have fared in these more difficult times? Asian businesses have not been immune from the downturn. However many Asian businesses have continued to perform very strongly due to their hard work, prudent ethics and support of strong and supportive family structures. In fact, during the current economic climate many Asian businesses have identified opportunities and adapted well to the undoubted challenges facing all businesses. When you spoke earlier about tailored solutions, what do you provide? We have developed a range of tailored solutions to suit our diverse clients including those who wish to adhere to their Shariah beliefs and we were the first bank to offer Sharia compliant corporate accounts. Do you offer any other personal Asian services? We have recently set up a new, Non-Resident Wealth team, based in London, which specialise in family structures and providing tailored solutions to meet specific needs. Services range from transferring assets between countries to providing expert support with inheritance issues. For more information about Lloyds Banking Group contact Kamel Hothi, Asian Markets Director at kamel.hothi@lloydstsb.co.uk . Kamel Hothi has been instrumental in driving Lloyds Banking Group's focus on the Indian and Asian markets. She has won many awards and is pictured below receiving an award earlier this year for her contribution to the Asian Community http://www.ukibc.com/news_and_media/news/lloyds1.aspxThu, 04 Nov 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/lloyds1.aspx CHENNAI, MAR 14: UK Trade and Investment Minister, Lord Green will arrive in India this week on a two day visit to enhance trade relations between the two countries. Lord Green would meet the Union Commerce and Industries Minister, Mr Anand Sharma, Petroleum Minister, Mr Jaipal Reddy and Reserve Bank Governor, Mr Subbarao at Delhi and Mumbai, respectively. Read more http://www.ukibc.com/news_and_media/news/lordgreenindiavisit.aspxTue, 15 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/lordgreenindiavisit.aspx Lord Green today called for greater economic liberalisation in India to further the enhanced partnership between India and the UK. In a speech in Mumbai today, Lord Green highlighted the need to embrace the vast opportunities to build on the vibrant, two-way relationship. Read more http://www.ukibc.com/news_and_media/news/lordgreenliberalisation.aspxWed, 16 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/lordgreenliberalisation.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/news/marks.aspxWed, 07 Jul 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/marks.aspx TAG Heuer, the Swiss watch brand owned by LVMH Moet Hennessy Louis Vuitton SA, plans to more than double its exclusive outlets in India as economic growth and stock market gains spur spending on luxury. TAG Heuer, endorsed by Bollywood actor Shah Rukh Khan, will open 15 showrooms in India in three years, said Manishi Sanwal, general manager of LVMH's watch and jewelry division in the country. The company, which has six outlets, aims to spend 1 billion rupees ($22 million) for the expansion, he said. India's rich are splurging on Mercedes-Benz cars, Gucci shoes and Burberry's shirts, buoyed by rising stock prices and an accelerating economy. The number of millionaires in the nation rose 51 percent last year, according to a report by Merrill Lynch Global Wealth Management and Cap Gemini SA. The market is growing at about 25 percent "at least for the high-end watches because the base is low," Sanwal said in an interview in Mumbai today. About 40 percent of the watches are sold in Mumbai and New Delhi, he said. The Indian luxury market, including cars and jets, is forecast to reach about $14 billion by 2010 end and then double to $30 billion by 2015, consultant AT Kearney predicted in 2007. Daimler AG, the world's second-biggest maker of luxury cars, expects sales of Mercedes-Benz in India to rival the U.K. within a decade. The nation's economy grew 8.8 percent in the quarter ended June 30, the fastest pace in two-and-a-half years. Indian stocks attracted a record $18.5 billion from foreign funds this year, driving a rally that made the nation's equity index the best performer among the world's 10 biggest markets. Hublot, another Swiss watch brand owned by LVMH, plans to more than double its stores in Asia to benefit from the region's increasing wealth. The Paris-based LVMH is the world's biggest luxury-goods maker. Link http://www.ukibc.com/news_and_media/news/microfinance.aspxSun, 26 Sep 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/microfinance.aspx UK Chancellor of the Exchequer, George Osborne, who was leading a government delegation to India with the Prime Minister David Cameron attended the reception for signing of the joint venture between Monitise and Visa. To read the release, click here http://www.ukibc.com/news_and_media/news/monitise.aspxSat, 11 Sep 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/monitise.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/news/mumbai_first.aspxFri, 18 Jun 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/mumbai_first.aspx India, already one of the top markets for NewsCorp, will be a key profit driver for the company in the years to come, James Murdoch, the chief executive and chairman of Europe and Asia operations, has said. In an hour-long interview with Business Standard, Murdoch, who is in India to attend the Ficci-Frames summit in Mumbai and watch the India-Australia match, said: "While we do not disclose the numbers publicly, in terms of profit growth, our India business is on a similar scale as single-sector businesses in West Europe, like say the newspaper business in the UK or the marketing business in the US. It is one of the dozen-odd chunks that offer substantial profit growth." Murdoch said NewsCorp's large investments and India's high growth rates would ensure the country's dominance in the company's global plans. Read more http://www.ukibc.com/news_and_media/news/murdochindiaprofitpie.aspxMon, 28 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/murdochindiaprofitpie.aspxPune, Oct. 12 -- India, which has emerged as the global leader Engineering Research & Development outsourcing, will witness its ER&D sector touch USD 40-45 billion by the year 2020, NASSCOM President Som Mittal said today. Addressing the NASSCOM Engineering Summit held here, he said India s leadership in the IT-BPO had helped consolidate and strengthen our ER&D services offerings. Indian ER&D services market has witnessed rapid growth over the last five years which is a reflection of significant expansion of capabilities and domain expertise. It has played a pivotal role in accelerating innovation and is establishing the country as a design … Read the full article on High Beam Research website http://www.ukibc.com/news_and_media/news/nasscom-projects.aspxWed, 12 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/nasscom-projects.aspxNEW DELHI: The NCR concept just got a shot in the arm. In a bid to connect the various parts of Delhi with the neighboring areas of Bahadurgarh, Noida, Gurgaon as well as Faridabad, the Delhi Metro will be going further inside these NCR areas in the third phase of its network. While the detailed project reports (DPR) for the extensions to Gurgaon, Faridabad and Bahadurgarh is ready and have been sent to the ministry of urban development for approval, the alignment for extension to Noida's sector 62 is still under finalization. Work on all the connecting extensions to the NCR areas is expected to be undertaken by 2012, to be part of the Delhi Metro's phase III construction. With these alignments, the Delhi Metro will be blurring the state lines further and underlining the NCR concept, say officials. Said a spokesperson from the Delhi Metro Rail Corporation, "The empowered group of ministers (EGoM) has directed that the lines (connecting the NCR) may be considered for inclusion in Delhi Metro Phase III and a separate proposal be brought for consideration of the EGoM. We are in the process of finalizing all the alignments at present." The alignments include the extension of the existing Mundka corridor (Mundka-Inderlok) to Bahadurgarh, crossing the Tikri Border via Ghevra. The other line extension is that of the Yamuna Bank corridor to Noida's sector 62 via sector 32. This corridor at present is till Noida City Center. Another line extension - of the new Mukundpur-Yamuna Vihar corridor of Phase III on to Shiv Vihar, an expansion by 3km, will also bring the outskirts of Delhi into closer contact with the central parts. That's not all. As reported by TOI earlier, the extension of the Dwarka sector 21-Noida City Center line to IFFCO Chowk via Palam Vihar along with the extension of the Badarpur corridor to YMCA Chowk in Faridabad is also on the cards. This is besides the new corridor from Dwarka to Najafgarh, stretching over 13.875km, which has been sent to the ministry of urban development already for approval. Sources in Delhi Metro said that these alignments had been also clubbed with the three new extensions - Bahadurgarh, Noida sector 62 and Shiv Vihar, as a separate proposal for EGoM approval. "The proposal is for inclusion in the Delhi Metro Phase III, which means that work will need to be started by 2012. The DPRs of all these alignments have been put on fast-track," said the Delhi Metro official. The alignments are in varying stages of planning and finalization, say officials. While the DPR for the Mundka-Bahadurgarh corridor was submitted to the MoUD and the Haryana government in the last week of October, the DPR for the Dwarka-Najafgarh and the Dwarka-IFFCO Chowk (Gurgaon) corridors are ready and have been sent for approval to the government for approval. The Faridabad extension has already gotten the green signal from the EGoM. However, the surveys for alignment finalization for both the Yamuna Vihar-Shiv Vihar as well as the Noida sector 62 lines are still underway. While the report on the former alignment is expected to be submitted by November 15, the DPR for the latter is still to be finished. Read the full article on Times Of India website http://www.ukibc.com/news_and_media/news/new-metro-lines-connecting-more-ncr-areas.aspxTue, 08 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/new-metro-lines-connecting-more-ncr-areas.aspx Two new members of staff - Neeru Sood and Adam Pollard- have joined us recently. Neeru Sood has taken up position as a Senior Advisor representing the UKIBC in New Delhi and focusing exclusively on the skills sector and Adam Pollard has joined us asour new Communications Officer, based in our London office. Prior to joining UKIBC Adam worked in communications at both Westminster City Council and NLGN -a public sector think tank. http://www.ukibc.com/news_and_media/news/newstaff201211.aspxTue, 20 Dec 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/newstaff201211.aspx Dates: 20-25th March 2011 Theme: 'Strategies For Success.' The 2nd NGN Delegation to Pune, Kolkata and Mumbai focused on strategies for success employed by entrepreneurs and companies in various sectors ranging from advanced engineering, IT , education, skills, healthcare and social entrepreneurship. Pune: 20-21 March In Pune the delegates received a warm welcome from the members of the British Business Group (BBG), UK Trade and Investment (UKTI) and senior representatives from the Pune business community. They were given an overview of Pune's thriving economy and opportunities for partnership in various sectors such as education, biotechnology, animation, and wind energy to name a few. The next day the delegates visited the impressive Tata Motors facility in Pimpri spanning 1200 acres and employing more than 20,000 employees. This was followed by a tour of Ventura's outsourcing operations to gain insight into how a UK outsourcing operation in India works and their unique strategies for success such as employee engagement and bespoke customer services which set them apart from other outsourcing companies. Kolkata: 22-23 March The Kolkata leg of the delegation commenced with a briefing and historical boat tour by the Indian National Trust For Art and Cultural Heritage (INTACH) to enable delegates get a better understanding of the city's rich colonial heritage, culture, politics and business environment. Later that evening, delegates participated in a networking seminar showcasing dynamic British and Indian entrepreneurs who have successfully established themselves in Kolkata and the UK. Panelists were asked to share best practice methods with the audience on how to make the most of the new opportunities emerging in Kolkata and the wider West Bengal region. The next day, delegates attended a seminar focusing on social entrepreneurship as a strategy for success. This event was hosted by the Kolkata chapter of the Confederation of Indian Industries' Young Indians (CII Yi) and featured an expert panel of speakers from NGOs such as the Rural Health Care Foundation, Kadam India, Magma Fincorp Ltd, and the Hope Kolkata Foundation. Mumbai: 24-25 March The final part of the delegation was held in Mumbai. The Mumbai programme included an announcement of an exciting new partnership with the CII Yi Mumbai chapter and the NGN. We envision this to be the first step towards increasing the level of activity for NGN India members through a series of joint events and workshops in Mumbai. The highlight of the Mumbai leg was a visit to Project Crayons, an NGO in Mumbai specialising in education for street children and providing shelter and training for abandoned young girls. Delegates were moved by the wonderful work Project Crayons has been doing and pledged their support to help them achieve their targets and long term goals. The delegation ended with a farewell reception and seminar where rising stars of the NGN community were called upon to share their individual success stories of cracking the Indian market with a view to encouraging their peers in the UK to do the same. All in all, the 2nd NGN delegation was a great success. Delegates returned to the UK with a much stronger interest in exploring partnership opportunities with Indian contacts in emerging cities and emerging sectors. In addition, they are now much more well informed about the support available from the Indian authorities, UKTI, BBG, CII Yi and the UKIBC. The high quality of the activities, seminars and networking significantly raised the profile of the UKIBC and the NGN in India. To learn more about the Next Generation Network, click here http://www.ukibc.com/news_and_media/news/ngndelegationmarch2011.aspxTue, 12 Apr 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/ngndelegationmarch2011.aspx EVENT: Reconnecting with India: The NRI Story Panellists: · Deepender Hooda, MP, Haryana · Jayant Chaudhary, MP from Uttar Pradesh · Yashodhara Raje Scindia, MP from Madhya Pradesh · Asaduddin Owaisi, MP from Andhra Pradesh · Neeraj Shekhar, MP from UP · Madhu Yaskhi, MP from Andhra Pradesh Key Message: Come to India Deepender Hooda, MP, Haryana and chair of the delegation: The younger generation in India is very much on the move and has faith in its own future. Jayant Chaudhary, MP from Uttar Pradesh and co-chair of the delegation: There is incredible growth potential in India today. Anyone with a good idea can come and start a revolution. Instead of being in a market where you will be one of many, you can come to India and create your own market. There a lot of room in the social space for service industries with the PPP (public-private partnership) model. It is boom time, not necessarily in the big cities of Mumbai and Delhi but even the smaller towns and rural areas. There is a clear change in the mindset. It is the entrepreneurs who are today's rockstars because there is a growing respect for new ideas in India. Yashodhara Raje Scindia, MP from Madhya Pradesh Organisations like the UK India Business Council and Federation of Indian Chambers of Commerce and Industry could help connect non-resident Indian access to the Indian market. There is a refreshing change among the younger generation of MPs in India. They all realise there is a small window of opportunity in a fast-moving country and they want to be a part of its success story. Unfortunately, there is still a big bureaucracy behind every Chief Minister but give it another year or so and there won't be any state left behind in attracting NRIs to be a part of their development story. If Bihar can change, any state can change. Asaduddin Owaisi, MP from Andhra Pradesh: Today's youngsters are more confident and anyone with good ideas and talent can succeed in India. There are a few troublemakers like politicians but India remains a land of opportunities. Come to India and see for yourselves. Neeraj Shekhar, MP from UP: While we need foreign investment in all sectors, infrastructure, education and health are the main areas where we have lagged behind, and international experience can help. Madhu Yaskhi, MP from Andhra Pradesh: What India is offering is immense in terms of public-private partnerships. All that is needed is drive and a sense of responsibility to give back something to the country. That sensibility is also very important." http://www.ukibc.com/news_and_media/news/nristory.aspxMon, 11 Oct 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/nristory.aspx Vince Cable's speech 17 Jan 2011, Taj Mahal Hotel, Mumbai, India It is a pleasure to be in Mumbai this evening, a city that provides concrete proof of India's dynamism and diversity. This is my second visit to India as Business Secretary and my first to Mumbai, though I made the first of many family and professional visits to this great city almost three and a half decades ago. I still have vivid memories of a perilous journey with my young children in a small boat close to capsizing, across the harbour to the jetty in Uran where my brother-in-law managed the brewery, and running the gauntlet of a picket line of Maoist militants trying to impose a gherao. Read more http://www.ukibc.com/news_and_media/news/partnershipprosperityin.aspxMon, 17 Jan 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/partnershipprosperityin.aspxNEW DELHI: UK -based International leading media and publishing firm, Pearson today said it has picked an additional 59 per cent stake in online tutorial services provider TutorVista for Rs 577 crore. Read more http://www.ukibc.com/news_and_media/news/pearsonindia.aspxTue, 18 Jan 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/pearsonindia.aspx British publisher Pearson is taking some risky bets in one of the world's biggest education markets. The results could yield the template for a global footprint. In about three months from now, Bangalore will become the first city in the world where Pearson will have a school under its own brand name. Pearson plans to have at least 100 schools in three years. The closest it comes to this model is in Brazil, where it supplies everything that a school needs. It is a crucial big step for a company that has in the last decade, under the leadership of CEO Marjorie Scardino, reinvented itself as a learning company (it owns brands like Financial Times and Penguin). Education now brings in 74% of its revenues and 81% of its profits. But Scardino can sense that the learning business is undergoing a massive change. Students are shunning textbooks in favour of Wikipedia and YouTube, and the largest number of school going children are in countries like Brazil, China and India where, till last year, Pearson did not have a big presence. Read more http://www.ukibc.com/news_and_media/news/pearsonsnewventure.aspxWed, 13 Apr 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/pearsonsnewventure.aspxNew Delhi: The Organisation of Pharmaceutical Producers of India (OPPI) on Wednesday said any move to contain FDI in the pharma sector will be a "retrograde step". Read more http://www.ukibc.com/news_and_media/news/pharmafdi.aspxWed, 16 Feb 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/pharmafdi.aspx Mumbai: With the rising significance of India as one of the largest generic drug markets and escalating valuations which makes the pharmaceutical space here a tough acquisition target, global pharma majors remain active for entering partnerships, joint ventures and alliances with their Indian counterparts. During this year, two global pharma majors entered JVs with top Indian players to sell generic drugs in India as well as other emerging markets. In January, Bayer AG entered into a 50:50 joint venture, Bayer Zydus Pharma, to distribute pharmaceuticals in India with Cadila Healthcare Ltd. Similarly, US-based Merck joined hands with Sun Pharma, eyeing emerging markets. Read more http://www.ukibc.com/news_and_media/news/pharmamncsjvroute.aspxMon, 18 Apr 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/pharmamncsjvroute.aspxIndia's information technology sector will grow annually at the rate of 25 percent to 26 percent due to a good performance, according to N R Narayana Murthy, founder and chairman of Infosys Technologies Ltd, India's second biggest software services company. Read more http://www.ukibc.com/news_and_media/news/pharmasectorgrows.aspxTue, 25 Jan 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/pharmasectorgrows.aspx Press Trust of India / New Delhi April 21, 2011, 15:44 IST Acknowledging that the prevailing state of affairs will not be tolerated by the people, Prime Minister Manmohan Singh today pledged swift and exemplary action to deal with corruption towards which he unveiled a number of steps. Singh also said that government hopes to introduce during the monsoon session of Parliament the Lokpal Bill on which a committee of Ministers and representatives of civil society are working. "There is a growing feeling in the people that our laws, systems and procedures are not effective in dealing with corruption," he said addressing IAS, IFS, IPS and other senior bureaucrats. Without mincing words, he said, "We must recognize that there is little public tolerance now for the prevailing state of affairs. People expect swift and exemplary action and rightly so." Singh, who was inaugurating the Civil Services Day, recalled his earlier statement that corruption is an impediment to faster growth and hurts the poor the most."It is a challenge that we must tackle boldly and we stand committed to doing so". Read more http://www.ukibc.com/news_and_media/news/pmindiaapril27.aspxWed, 27 Apr 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/pmindiaapril27.aspxNew Delhi: In a move to bridge the demand-supply gap for skilled labour, the government plans to set up 300 polytechnics in the country in the public-private partnership (PPP) mode. Under the scheme, the Centre will pay R3 crore per polytechnic while the state would be expected to shell out R2 crore besides offering land for the institute. PPP in polytechnics is a part of the umbrella plan for PPP in higher education in the 12th Plan. "Each polytechnic requires R10-12 crore to be set up. The rest of the investment will be put in by the private players. We have invited industry chambers like the CII, Ficci and Siam for talks and expect them to share the best practices with the government," SS Mantha, AICTE chairman told FE. In fact, under the sub-mission on polytechnics coordinated action on skill development, the government plans to provide short-term skill and vocational training to rural community and unorganised sectors under a renewed Community Polytechnic Scheme in 1,000 polytechnics. Of these, 300 are to be set up in the PPP mode. There are almost 2,500 polytechnics in the country and their annual intake is approximately half that of the the degree level engineering institutions. They offer three-year diploma programmes in engineering and technology, applied arts and crafts and other courses. "We are looking at 10 polytechnics per state in the PPP mode as till now this model was used only in the infrastructure and road construction industries," Mantha added. The council has met state secretaries and decided that the private partners will have to deposit R10 crore for the construction of building, equipment and running of the polytechnic. "We are always interested in skill development but it is not qualified as to what the government expects from the industry. The contours of the partnership are yet to be defined," said Sandhya Chintala, senior director, Education Initiative, Nasscom. As per the AICTE's policy document, the same company may fund different polytechnics and there can be no exclusive arrangements between an institute and firms. Further, the industry partners are eligible for 60% of the total seats on the board of governors. Read the full article on The Financial Express website http://www.ukibc.com/news_and_media/news/polytechnics-to-have-industry-backing.aspxWed, 09 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/polytechnics-to-have-industry-backing.aspxAhmedabad, Oct 19: National losses due to inefficiencies in logistics infrastructure could mount to Rs 7 lakh crore a year by 2020, compared to over Rs 2 lakh crore at present, according to Assocham. Economic losses due to bad condition of roads are conservatively estimated at over Rs 30,000 crore a year. A potential annual saving of Rs 800 crore can be made by merely shifting the movement of goods through multi-axle and trailer trucks, the Associated Chambers of Commerce and Industry of India said. Over half of the motorised traffic is carried by two-axle trucks that constitute 30 per cent of vehicles on the highways. Truckers ignore the real negative economics of overloaded vehicles in search of short-term gains, and add to inefficient fuel and road usage all along. Time-frame for training "The Government should set up a time-frame for all drivers of commercial vehicles to be trained on modern equipment. Well-equipped driver training schools could be set up in all states as part of the National Skill Development Programme," said Ms Bhagyesh Soneji, Chairperson, Assocham Gujarat Council, Ahmedabad. With low rates, long delivery times, high competition and poor operator margins, the road transport industry finds high level of investments in equipment utilisation and trained personnel unaffordable. "Thus the industry hides a huge level of inefficiency, including fuel use inefficiency, which weighs it down and costs the nation more in terms of higher fuel needs." While the Railways carry 30-32 per cent of total goods traffic, road surface transport carries nearly 65 per cent. Even if all highways in the country adopt concrete pavement, fuel savings/kilometre work out to Rs 6.7 lakh/km. Fly ash technology Mr D.S. Rawat. Secretary-General, Assocham, advocated use of high volume fly ash concrete (HVFAC) technology for all road constructions and even replacement of existing structures as a national priority for significant savings on fuel use and improving quality of road transport of goods and passengers. Saving diesel through better roads and efficient goods traffic will enable the Government to introduce market price in phases. Assocham also urged the Government to improve turnaround time of Indian Railways through the proposed dedicated high-speed corridors and related industrial hubs so that more road transport traffic can shift to the Railways. Read the full article on Hindu Business Line website http://www.ukibc.com/news_and_media/news/poor-logistics-infrasrtucture.aspxWed, 19 Oct 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/poor-logistics-infrasrtucture.aspx India's population has grown by 181 million people over the past decade to 1.21bn, according to the 2011 census. More people now live in India than in the United States, Indonesia, Brazil, Pakistan and Bangladesh combined. India is on course to overtake China as the world's most populous nation by 2030, but its growth rate is falling, figures show. China has 1.3bn people. The census also reveals a continuing preference for boys - India's sex ratio is at its worst since independence. Read more http://www.ukibc.com/news_and_media/news/populationindia.aspxThu, 31 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/populationindia.aspxNew Delhi: Private investment is key to the growth of the renewable energy sector, said Dr Farooq Abdullah, Minister for New and Renewable Energy, at the concluding day of Delhi International Renewable Energy Conference (DIREC) 2010. Read more http://www.ukibc.com/news_and_media/news/privateinvestment.aspxMon, 01 Nov 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/privateinvestment.aspx The PwC Forensic Services team hosted a webinar on UK Bribery Act: Implications for India on Thursday 21st October 2010 at 1300 hrs IST/ 0830 hrs BST. The speakers at the webinar were Will Kenyon, Partner, Forensic Services, PwC UK and Vidya Rajarao, Leader, Forensic Services, PwC, India. The webinar is relevant to UK companies with operations in India, Indian companies that operate in UK or have a presence in UK and LSE or AIM listed entities. If you or your company/team is asking the following questions and are unsure of the answers, this webinar can help provide solutions and assess what actions need to be taken to comply with the Act. •What actions should I be taking now to ensure my organisation is prepared when the UK Bribery Act comes into force? •What approaches are other companies taking? •Is my organisation's approach class leading, middle of the pack or barely adequate? To view a PDF of the webinar, click here . http://www.ukibc.com/news_and_media/news/pwcwebinar.aspxWed, 27 Oct 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/pwcwebinar.aspxJAIPUR: To address the shortage of skilled manpower in the state, the government has recently initiated a scheme " Train to Gain" for skill enhancement in manufacturing units. It aims to make unskilled workforce employable as the demand for skilled workforce is estimated to be 1.4 million persons by 2015 in the state. Any manufacturing unit that wants to avail the scheme shall register at district industries centre (DIC) with the number of required trainees and get the list of candidates approved by the DIC committee concerned headed by the district collector. However, only such candidates will be benefited who are 10{+t} {+h} pass and between 18 to 45 years of age. The eligible enterprise will be paid a cash subsidy of 50% of the stipend paid to the trainee with a cap Rs 2,000 per trainee per month after successful completion of training. Employers getting benefits under the scheme will provide employment to at least 50% of the trainees. The period of training can vary from three months to 12 months depending on the nature of job. An official said: "Everywhere modern technology is used and workers need to be trained accordingly. If the employees are not trained it surely impacts productivity. This scheme will help in generating more employment and bridge the gap of skilled labour needed by manufacturing units". Industry associations are upbeat with the policy announced. T C Chaudhary, president of United Council of Rajasthan Industries has said: "It's a welcome move and encourages manufacturing units to recruit raw workforce and get them skilled as per their needs. Financial support from government will also help candidates to get better compensation". A fund of Rs 1.75 crore has been allotted to the industry department for the first year ending March 31, 2012. "We need to implement it fast as only five months are left. For the first year, we will enroll 2,000 candidates. This will increase every year as per availability of funds," said an official. Read the full article on The Times of India website http://www.ukibc.com/news_and_media/news/rajasthan-govt-scheme-to-boost-skilled.aspxTue, 08 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/rajasthan-govt-scheme-to-boost-skilled.aspx (The following blog is from RSG Consulting) One of the UK's premier lawyers will have been seen this week doing the rounds in the whiskey and canapés world of the Indian business community. Stuart Popham, the senior partner of Clifford Chance, is part of the UK Government's trade and jobs delegation to India and his not-so-secret 'mission' is to sell the UK's professional services to India. The law man is operating under the diplomatic-style immunity of politicos Cameron and Osborne and though his free pass may only last two days, Mr Popham is determined to keep the legal liberalisation flame alive. Speaking to us on day one of the mission, he said the issue of liberalisation was being raised by the UK Prime Minister in Bangalore, in various meetings in Mumbai and he expected the discussions to continue in Delhi. For lawyers back in the UK, not to mention the unknown few running practices out of Indian hotels, the opening up of the Indian legal industry might feel a long way off. Nevertheless, the high-profile UK delegation must spell good news as not since the Raj has such an impressive group of statesmen, businessmen and…er…sportsmen been shipped off to take India. However, according to recent RSG research, liberalisation is on the back burner. New Law Minister, Veerappa Moily, has a much tougher task making the Indian court system more efficient. Other commentators point to the as yet unsigned EU-India Free Trade Act as potentially being more significant in opening up the legal sector. Talking about the prospects for liberalisation, Mr Popham, who is used to set-backs (he was also on Gordon Brown's delegation in 2008 after all), said: "I am not expecting a major development but I do see the establishment of increasingly closer and stronger relations between the UK and India which is the primary purpose of 'the mission'." So for now, when the tuxedos come off at the end of the trip and the delegation returns home, the unnamed UK lawyers that are left behind the protectionist legal lines will have to copy our most famous silver screen secret agent and once again retreat to the shadows of their plush hotels. To read the blog, click here .(The blog is from a member company and not UKIBCs view) http://www.ukibc.com/news_and_media/news/roving_rsg_mission_impossible.aspxSat, 31 Jul 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/roving_rsg_mission_impossible.aspxUK supermarket retailer Sainsbury's is to source all of its Fairtrade cotton from a cooperative supplier in Gujarat, in what is thought to be the first deal of its kind. Read more http://www.ukibc.com/news_and_media/news/sainsburyft.aspxWed, 16 Feb 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/sainsburyft.aspxSheffield Bio-Science, a Kerry Group Business, has formed a strategic global sales, marketing and development alliance with Wockhardt Ltd. Under this partnership, Sheffield Bio-Science will be the Exclusive Global Sales and Distribution Partner for recombinant insulin manufactured by global Indian biotech Wockhardt. According to estimates, the potential in cell culture markets is around US$ 50 million. Read more http://www.ukibc.com/news_and_media/news/sheffieldwockhardt.aspxWed, 23 Feb 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/sheffieldwockhardt.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/news/sheffield_india.aspxMon, 21 Jun 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/sheffield_india.aspxUnderpinned by an increasingly positive outlook on the economy, Indian SMEs plan to increase capital expenditure and hire more staff in the next six months and a growing number are eyeing an offshore expansion for their business. The latest HSBC research states that confidence among Indian SMEs surged in the fourth quarter of 2010, increasing more than any other SMEs in Asian market. Read more http://www.ukibc.com/news_and_media/news/smeindiagrowth.aspxWed, 23 Feb 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/smeindiagrowth.aspx UK - India SME Manufacturing Event at Birmingham on 11th November, 2010 The year 2010 marks 60 years of the Indian Republic. As part of ongoing celebrations, the High Commission of India, London is holding a series of activities in the United Kingdom to highlight the multi-faceted relationship that India and UK enjoy in different spheres as strategic partners. Prime Minister Rt. Hon. David Cameron visited India this July with one of the largest business delegations in recent times. One of the important outcomes of the visit was an agreement to enhance our bilateral trade. As a step forward in this direction, the High Commission of India in collaboration with the Birmingham City Council is hosting a Conference and bilateral interface on 11th November, 2010 at the Birmingham City Council by bringing together the SMEs in the manufacturing sector both from India and UK to facilitate better understanding and forging technological collaborations for mutual benefit. This conference is a step forward in this direction to work with partners in UK to harness opportunities that would lead to enhancement in trade. The High Commission of India in London conducted an independent survey of manufacturing SMEs in UK Midlands in June 2010, which identified more than 2000 companies, who presently do trade or invest in India or are very positive to do so in future. On the other hand, the rapidly growing Indian manufacturing SMEs are looking at modern and cutting-edge technologies. This opens up wide opportunities to UK companies for technological collaborations, production and marketing to a fast expanding consumer base. The conference will discuss the Survey Report followed by the sectoral interaction between the Indian and UK companies, and a bilateral interface between individual SMEs. On 12th November 2010 visits will be organized to the centers of excellence and industrial parks for demonstrating technological advancements, which would be optional to the participants. The event is a unique opportunity to the manufacturing SMEs in both countries to understand about their products and processes and openings for forging collaborations in trade, skills, technology and investment. From India participation has been confirmed from the major industry sectors including engineering & machineries, electrical engineering, health & pharmaceuticals, chemicals & allied products, automobiles, garments & textiles and cold-chain equipments. The leading Indian SMEs including the National Small Industries Corporation of India (NSIC), the Confederation of Indian Industries (CII), the Engineering Promotion Council of India (EEPC India), the Small Industries Development Bank of India (SIDBI), the Federation of Indian Exporters Organization (FIEO), the Chemexcil, the Pharmexcil, the Council for Leather Exports, the Bombay Industries Association, etc. have already confirmed participation with large delegations. The High Commission of India invites the UK SMEs in the manufacturing sector to participate in the Birmingham Conference and the bilateral interface opportunity for forging mutually beneficial trade links between India and the UK. For further details/participation at the conference the following may be contacted: Mr. George Raju, Second Secretary, Economic & Commercial Wing, High Commission of India, India House, Aldwych, WC2B 4NA. Email: ss.com@hcilondon.in Phone:02076323020. http://www.ukibc.com/news_and_media/news/smemanufacturing.aspxFri, 22 Oct 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/smemanufacturing.aspx UK-based financier Standard Chartered Private Equity has told just-food it is bullish about its US$25m investment into Bush Foods Overseas, a New Delhi-based basmati rice exporter. "The sector and the company offers great potential," said Rahul Raisurana, the investor's managing director, adding that his company viewed India's food sector as offering attractive business opportunities. The Standard Chartered managing director noted that increased global demand for basmati rice presents potential for significant growth. He said the investment would help finance the expansion of the company's manufacturing plant in Sonipat, in the northern state of Haryana, and provide long-term working capital. It will be Standard Chartered's first deal with an Indian food processing company, signalling the UK firm's commitment to a rapidly-growing industry. Bush Foods has achieved a strong presence in both export and domestic markets - selling basmati rice to 34 nations with brands such as Neesa, Indian Star and Himalayan Crown. The company's current turnover is US$110m. Article from just-food.com http://www.ukibc.com/news_and_media/news/stanchartbushfoods.aspxTue, 19 Apr 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/stanchartbushfoods.aspx Standard Chartered Bank has picked up a 3% stake in the United Stock Exchange (USE), thereby becoming the first foreign bank to invest in the Exchange. USE currently operates in the currency derivatives space and offers currency futures in all the four currency pairs permitted by Sebi. It is one of the only two stock exchanges in India to offer currency options on the USD-INR currency pair, a press release issued here stated. Read more http://www.ukibc.com/news_and_media/news/stanchartuse.aspxMon, 21 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/stanchartuse.aspx Over 500 delegates from UK and India will participate in the UK India Business Council Annual Networking Summit to be held on March 14 th 2012. This event aims to help UK companies enter and expand into one ofthe fastest growing economies in the world. The event brings together businesses from the UK and India, to share their experiences, get practical advice, meet expert professional service providers, strike partnerships andgain valuable intelligence and contacts. Per capita Indian income is estimated to grow by a staggering 27 times in the next four decades and for UK businesses this represents a developing and ever expanding consumer market. In contrast, Chinese per capita income will grow by a respectable, but comparatively low, 15 times over the same period. While the same metrics in Europe is expected to barely double. Richard Heald, CEO, UKIBC said, "This is a market hungry for new products, services, technology and know how. It is also a market which is rapidly developing its own world class products and services; which are born of innovation, passion and resourcefulness. The UKIBC Networking Summit will have all the right people under the same roof, enabling UK businesses tomake the right judgments on engaging with the Indian market." Attendees will not only be able to understand the opportunities, butalso to evaluate the most relevant entry strategy, the best structures and how to minimise risks and optimize sustainability. Interaction with companies whohave "been there and done that", inbound Indian delegations, and one-to-one access to experts throughout the day. This is a practical and unique opportunity to make new contacts with potential partners already succeeding inIndia. Find our more here or register here for our early bird discount http://www.ukibc.com/news_and_media/news/summit2012.aspxWed, 21 Dec 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/summit2012.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/news/tata_motors.aspxTue, 29 Jun 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/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/news/tata_motors_to_launch_new_vehicles_in_india_china.aspxWed, 04 Aug 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/tata_motors_to_launch_new_vehicles_in_india_china.aspx London, United Kingdom, 20-04-2011 : With UK economic growth sluggish, the UK coalition Government has been keen to highlight the benefits for British companies to trade with the so-called 'emerging markets'. Perhaps the most exciting of these markets is India, a country with growth of around 9% and projected to overtake China as the world's fastest growing economy by 2020. Tata, the parent company of some of the most well known brands in the UK, including Jaguar, Land Rover and Tata Consultancy Services, has reiterated its deep commitment to the strengthening of UK India business ties by becoming a strategic partner with the UK India Business Council ("UKIBC"). Tata, which was recently ranked as the most highly regarded Indian Multinational Corporation by global marketing experts Penn Schoen Berland, is also one of the largest industrial employers in the United Kingdom. By joining the UKIBC, Tata brings its extensive experience and expertise to the UKIBC's large and growing network of members and UK-India business experts. UKIBC CEO Richard Heald welcomed Tata to the UKIBC "I am delighted that they have agreed to join us. Their commitment to the UK across so many areas of activity as well as their pre-eminent position within Indian Industry means that they will make significant contribution to our agenda and I am sure that our broad membership will benefit from their insights and inter-action". The UKIBC recently held its Annual Summit in Manchester, which was attended by over 550 delegates and supported by its existing Strategic Partners PricewaterhouseCoopers, Rolls Royce, Standard Chartered, and UK Trade and Investment as well as by KPMG and HSBC. The aim of the summit was to engage UK SMEs with India. The UKIBC is re-inforcing its sector focus onto opportunities and entry strategies for all UK and Indian companies with the aim to increasing bilateral trade in line with Government objectives. The unrivalled wealth of India market entry experts is a key part of the service offered by the Council and is increased with the addition of the UK based operations of the globally influential Tata. UKIBC CEO Richard Heald says "the 'Special Relationship' between India and the UK is based on the identification and capturing of mutually beneficial commercial collaboration. The UK PLC has so much to offer and to gain from active engagement with India and particularly amongst the small and medium sized companies where critical elements of creativity and innovation lie. The correct entry strategy/ partner is vital so interaction with companies which are operating in India is important. This is what the UKIBC aims to provide in a focused way. But in an economy which has pressing needs now, is the focus of world attention and is growing at a headline 8.5pct pa, UK PLC has to move quickly." To find out more about the UKIBC's membership offering, visit http://www.ukibc.com For more information, please contact Press Office on 02075923045 or email Ishara.Callan@ukibc.com http://www.ukibc.com/news_and_media/news/tata_sp.aspxTue, 26 Apr 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/tata_sp.aspxTesco Hindustan Service Centre (HSC), the global services arm for Tesco, the UK-headquartered multinational retail giant, is looking to hire 2,000 people this year. Read more http://www.ukibc.com/news_and_media/news/tescohirestaff.aspxFri, 11 Feb 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/tescohirestaff.aspxUK-based retailer Tesco today said it is increasing sourcing from India and focusing on categories besides clothing for its global requirement. "Tesco does sourcing worth 230 million pounds from India and we are looking to grow this figure in future," Tesco Executive Director Corporate Legal affairs Lucy Neville-Rolfe told reporters here on the sidelines of the India Economic Summit organised by the World Economic Forum. Read more http://www.ukibc.com/news_and_media/news/tescooutsourcing.aspxWed, 17 Nov 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/tescooutsourcing.aspxThe stake sale of Max Healthcare shows how Analjit Singh transformed from just a shrewd investor to a far-thinking builder of companies Analjit SinghFor much of his career, Analjit Singh has been known as an entrepreneur who excelled at seeding businesses and then exiting them at a pace quicker than most. When the 57-year-old chairman of Max India recently sold a 26 per cent stake in Max Healthcare to Life Healthcare, South Africa's second-largest hospital chain for Rs 516 crore, it was clear that Singh had architected a great deal (valuing Max India's hospital arm at Rs 2,000 crore). The company needed a strategic investor after PE major Warburg Pincus exited it in July. Still, it left many industry watchers who had seen Singh make a departure from his old style and actually build and stick to businesses in the recent past, puzzled. Was this the old Analjit they were seeing, or the new and improved one? ''At 74% ownership, how can there be an exit?" bristles Singh. "There's no exit. We run the business, morning, afternoon, evening, and night,'' he said in an interview with Business Standard. Yet, this wasn't always so. "Starting in 1985, it took me 15 years to figure out where my heart really lies,'' he says. Between 1998-2000, he exited nine businesses he had founded or inherited in an effort to build wealth that fate snatched away from him during an acrimonious family split. Today, his sights have been firmly trained on nurturing businesses of life or social good, namely insurance and healthcare. ''The reasoning of exits were not typical of my business mantra which is invest, build, sell, exit. No, that was pertinent to that stage of my life,'' he says. This was 13 years back, Singh was 46-years-old and the game was different. ''When we entered the new businesses, I made some assurances to my colleagues that these are not only in the business of life, but also businesses for my life. These businesses have to go after me, and not in my lifetime,'' he says. Singh has nurtured his newer businesses in ways that he never has before-by strengthening the boards, processes, professionalising management and implementing board managed-structures. With some help from management guru Ram Charan, two of his closest confidants, Anuroop (Tony) Singh and Ashwani Windlass , Analjit has put in place a new governance model at Max. Analjit strengthened the boards by roping in people who are not just eminent but are functional experts. Earlier, Max India was an executive-managed and governed company. Today, it is board-governed. In the last two years, he has inducted 10 independent directors on the boards of his two companies, Max New York Life and Max Healthcare. Barring one, Analjit did not know nine; they were picked by executive search firm Egon Zehnder International. What made him embrace change? Analjit found that the business environment was getting too complex and conventional wisdom was not adequate. Therefore, he needed collective wisdom from a very sound lot of people. ''I wanted less pressure on myself. I was sick and tired of being the sole owner of a decision, right or wrong, and trying to figure it out on my own,'' Analjit says. Two years back, Analjit appointed an erstwhile colleague and board member, Ashwani Windlass, as the nominee of the family on the board of Max India. Till two years ago, the family which owns 42 per cent of Max India, had no rights, no covenants. Today, the family has formal rights like other investors. Clearly, Singh has evolved both as a man and as a leader and come a long way from his invest-build-sell-exit mode that marked the first phase of his career. ''He has changed a lot from a young person with no hands-on experience on the business he inherited to well on his way to building an institution. He has learnt a lot and applied that learning. Your outlook changes as you move up in life,'' explains Tony Singh. Ever since his return to India after an MBA at Boston University to found Max India in 1982, Analjit had acquired a reputation for being a serial entrepreneur-and it's easy to see why in hindsight. The third son of Ranbaxy founder Bhai Mohan Singh, he began his career with Ranbaxy in 1981 and was put in charge of a joint sector company Max India to make penicillin. The ensuing family split was perhaps the most defining event for Analjit. Analjit and his older brother Bhai Manjit Singh complained that they were short-changed in the trifurcation. The family jewels, they alleged, went all to their elder brother, Parvinder Singh. All Analjit wanted was to establish himself and his financial independence. For the next two decades, he dabbled in several businesses, entering and leaving as many as 10 joint ventures and as many businesses. Things worsened for Singh after the split. Ranbaxy, which was the principal buyer of penicillin that Max made, decided to source it from elsewhere. The Gulf War drove the packaging films business into losses. Analjit realised that India was at the cusp of a telecom revolution, and tied up with Motorola for radio paging services in the country. Soon, he realised his mistake-he had tied up with an equipment maker for a services business. Wiser, he set up a 51:49 joint venture with Hutchison Whampoa of Hong Kong for cellular services. But even before the sector could ride the valuations, Analjit cashed out in 1998. He sold his 41 per cent stake in the mobile venture to Hutch for Rs 561 crore. For a while, it seemed like Analjit had hung up his jacket to bask in the afterglow of a successful investing career, until a consultant gave him a piece of paper and pen, and asked him to write his obituary in 800 words. Backed by advice from McKinsey, Analjit trained his guns on services and entered four sunrise sectors: life insurance, healthcare, IT-enabled services and clinical studies. Analjit has proved to be as adept a builder of businesses as he has been an arbitrageur. Max India reported consolidated net profits of Rs 9 crore for the year ended March 2011 against a loss of Rs 72 crore for the year before on the back of a 20 per cent growth in operating revenues. Max New York Life became the third largest private life insurer, increasing its market share amongst private life insurers to 11.9 per cent in Q1FY12 to from 7.7 per cent in Q1FY11. Its first-year premium declined 14 per cent for the quarter, less than the 44 per cent decline of other private insurers. Max Healthcare too doubled its operating margin to 6 per cent during the quarter. Max Bupa Health Insurance has begun making inroads into the market. Still, hurdles remain. The two key businesses may have turned around but have trailed their peers. Both the businesses have chewed up a lot capital, time and taken longer to break even than the promoters had anticipated-although curiously this obliquely underscores Analjit's eye on long term performance rather than short term profits. Though Max New York Life is consolidating its position, many of its peers turned around much earlier. Similarly, Max Healthcare trails its peers Apollo Hospitals and Fortis by a large margin; both have significantly more number of hospitals. ''We want to be the best in quality; not the largest in business,'' says Analjit. To have better control over its operations and clinical outcomes, Max restricted itself to NCR, and now to North India. The deal with Life Healthcare comes as a validation. When Analjit seeded these businesses, he expected them to turn around in five years; they have taken almost a decade to do so. ''They have been much more difficult than I had imagined. The complexity, the challenge, the time, the capital, has been much more difficult,'' concedes Analjit. Going ahead, Analjit would like Max to be a top quartile player in each of its businesses: life insurance, health insurance, and healthcare. He would like to see the life insurance business to be among the top three players and Max Healthcare to be among the top player in terms of clinical outcomes. Considering his newer avatar, those should be eminently attainable goals for a someone who has discovered that exploring the art of building businesses is more meaningful and fun than selling them. Read the full article on Business Standard website http://www.ukibc.com/news_and_media/news/the-stake-sale-of-max-healthcare.aspxWed, 09 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/the-stake-sale-of-max-healthcare.aspx A North Yorkshire steel firm's new venture in India has secured significant orders in its first four months of trading. As it released its results for 2010 Severfield Rowen, based in Dalton, near Thirsk, yesterday revealed that its 50/50 joint venture with JSW Steel had an order book of £33m. The JSW Severfield Structures plant in Bellary, Karnataka, opened in November last year and yesterday the company said it would continue a drive for growth in that market. Read more http://www.ukibc.com/news_and_media/news/thirskindiansteelventure.aspxThu, 24 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/thirskindiansteelventure.aspxFarsan is one of several firms which have strengthened ties with India with support from UK Trade and Investment (UKTI), and the move comes as Business Secretary Vince Cable led a major business delegation to India. Read more http://www.ukibc.com/news_and_media/news/ukcosamosas.aspxMon, 24 Jan 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/ukcosamosas.aspx There was some surprise when last summer the Prime Minister, David Cameron, led a business delegation to India. Coming so soon after he had taken office, it was not the sort of trip usually associated with politicians seeking to establish themselves on the world stage. Yet, with Britain still struggling to emerge from a tough recession, the logic is clear. Lord Green, the trade and investment minister and former banker, explains that the Government places building the UK-India relationship among its top priorities, because the expected growth of the Indian economy "means lots of business opportunities for UK companies". With a population of 1.2 billion, more than half of whom are under 24 years old, the country is seeing its GDP - put at $1.24tn (trillion) in 2009 - grow at more than 7.3 per cent a year, and is expected to become the world's fourth largest economy by 2020. Just as many assume that exporting is the preserve of well-established large businesses, it is generally thought that expanding into such a vast and complex country as India is beyond all but the most sophisticated organisations. Yet Lord Green is keen that small and medium-sized enterprises (SMEs) should be among those seizing the opportunities in this rapidly developing market. Indeed, UK Trade and Investment (UKTI), the Government-backed body helping businesses to trade overseas, last year helped about 3,000 UK companies in India - and the vast majority of these were SMEs. At the centre of the effort to ensure there are even more smaller businesses benefiting from this burgeoning market is the UK India Business Council, a business-led organisation that promotes trade and investment between the two countries and is backed by the Government through UKTI. Richard Heald, chief executive of the body, says that, while India might not suit all companies, the opportunities presented are too great to be ignored completely. Some SMEs might regard India as too difficult or too risky, but he argues that "the real risk, now, is not being aware of the opportunities presented by India and indeed by Indian capital". Read the full article here http://www.ukibc.com/news_and_media/news/ukcoshaveworldatfeet.aspxThu, 21 Apr 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/ukcoshaveworldatfeet.aspx HYDERABAD: United Kingdom which has some of the world's most reputed educational institutions is also looking forward to sending its students to study in India in the areas of science and technology and software development, British Council (India) director Rob Lynes said today. "One of the things I am keen to do is to get more students from the United Kingdom to India to study here because at the moment there aren't enough students coming from UK to study in India," Lynes, who is also the Minister (Cultural Affairs), told reporters on the sidelines of a programme which marked the launching of UK's first National Alumni Network in India by British Council here. Read more http://www.ukibc.com/news_and_media/news/uksendingstudents.aspxWed, 23 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/uksendingstudents.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/news/uk_as_bus_dest.aspxThu, 01 Apr 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/uk_as_bus_dest.aspx NEW DELHI, MAR 23: State-run Union Bank of India, which plans to set up a subsidiary in the United Kingdom and a branch in Australia and Belgium, is expected to get regulatory approval in the next six months. "We hope to get approval from the respective regulators in the next six months," Union Bank of India Chairman and Managing Director Mr M V Nair told PTI. The bank has already got nod from the Reserve Bank of India for setting up operation in these countries. Read more http://www.ukibc.com/news_and_media/news/unionbankoverseasexpansion.aspxThu, 24 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/unionbankoverseasexpansion.aspx Pitching for more reforms in trade and investment, Urban Development Minister Kamal Nath today said there is also need for reforms in governance to bring about more development. Read more http://www.ukibc.com/news_and_media/news/urbandevelopmentkamalnath.aspxTue, 08 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/urbandevelopmentkamalnath.aspx MUMBAI: Global management consultancy McKinsey & Co has said that over the next 15 years, the urban development's centre of gravity will shift to cities in developing countries in the East and Southern parts of the world. Today, 600 cities, mainly in the North and the West, generate about 60% of the economic output or gross domestic product. In 2025, the number of cities will remain same and will continue to account for the same share of global GDP, but this group of 600 cities will have a very different membership , said McKinsey Global Institute (MGI) , business and economics research arm of McKinsey & Co, in its report 'Urban world: Mapping economic power of cities' In 2007, half of the global GDP came from 380 cities in the developed world, with 190 North American cities alone contributing over 20%, while the 220 largest cities in the developing world contributed just 10%, the report said. Read more http://www.ukibc.com/news_and_media/news/urbanisationshift.aspxMon, 28 Mar 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/urbanisationshift.aspxExperts put the blame on transaction cost, triggered by the rise in transportation and labour costs. For consumers reeling from runaway inflation, there is a sting in the trail - the widening gap between wholesale and retail prices of most everyday use food items. Blame it on high transaction cost, triggered by a rise in transportation, labour charges and commission, retail prices of most everyday use food items are rising sharply compared to their wholesale prices. A comparison of wholesale and retail prices of 13 major food items between October 2010 and 2011 shows retail prices of nine moved more than wholesale. For instance, wheat prices were down 1.62 per cent from a year earlier in the wholesale markets here, but the retail prices were ruling 7.14 per cent higher. In the case of onion, which has changed fortunes of governments in the past, the decline at the wholesale level was 30 per cent, while the fall at retail was only 12 per cent. Food inflation for the week ended October 22 surged to a nine-month high of 12.21 per cent. "Retail prices are high because of higher transaction cost. Retailers, especially vegetable vendors, are now paying higher charges to transport goods. Labour costs have gone up, as well. The commission that retailers charge is ad valorem. So, their commission goes up with any rise in prices. The demand-supply equation has improved with good harvests, but profiteering is leading to higher prices for consumers," says Madan Sabnavis, commodity expert and chief economist, CARE Ratings. Sabnavis rules out a sharp decline in retail prices, though the WPI food inflation is expected to soften a bit in December due to base rate effect. Rising prices, especially in grains, are also attributed to the annual handsome increase in the minimum support price. A vegetable vendor in Model Town, who sources vegetables from the Azadpur market, says he has to pay Rs 150 to transport 250kg of vegetable, compared to Rs 120 in the same period last year. Also, the labour who used to charge Rs 60 to bring vegetables from the market to the vehicle, now charges Rs 100. Most retailers are unorganised and operate at small scales. Therefore, they are tempted to indulge in a kind of profiteering. Ashok Gulati, a food policy expert and chairman of the Commission for Agricultural Costs and Prices, says the problem with retailers is that their volume is often small. "Therefore, they charge margins of 20-25 per cent. The only solution is to bring organised retailers and farmers on a common platform, so that intermediaries are reduced, leading to lower prices," he says. Gulati gives the example of Mother Dairy, which procures milk directly from farmers. "We need to bypass agents, reduce wastages and improve logistics. Small retailers need to be organised, so that their volumes go up and their margins come down," he says. Read the full article on Business Standard website http://www.ukibc.com/news_and_media/news/wholesale-retail-price-gap-widens.aspxWed, 09 Nov 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/wholesale-retail-price-gap-widens.aspx YORKSHIRE businesses are missing out on making money in India. Now Yorkshire businesses are being urged to attend the UK's largest ever India-focused business conference in Manchester on March 10 at which 500 UK businesses are expected. Read more http://www.ukibc.com/news_and_media/news/yorkshireeveningpost.aspxFri, 04 Feb 2011 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/yorkshireeveningpost.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.aspxFri, 27 Nov 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/2009_11_27.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.aspxFri, 29 Jan 2010 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/2010_01_29.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.aspxTue, 30 Jun 2009 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/interview_cii_dg.aspx"Admitting that India's trade deficit has grown, the government on Wednesday said the country was still performing better than most countries and its share in global trade has increased." Continue Reading here Subscribe to our Newsletter here for regular updates http://www.ukibc.com/news_and_media/news/120509_trade.aspxWed, 09 May 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120509_trade.aspx UKIBC member Mott MacDonald has been appointed design consultant by IVRCL Raipur-Bilaspur Tollways Ltd¹ for the planned Raipur-Bilaspur national highway 200 in India. Part of the National Highways Development Programme Phase IV established by the National Highways Authority of India (NHAI), the new road will connect Raipur in Chhatttisgarh to Chandikohole in Orissa, passing through areas like Bilaspur, Raigarh and Jarsuguda. Read the full release here http://www.ukibc.com/news_and_media/articles/120423_mott.aspxTue, 24 Apr 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/articles/120423_mott.aspx "The Tata group is the first and only India-headquartered entity to have found a place among the top 10 best leadership companies in Asia. In a study by the Hay Group, Tatas have been ranked fifth.." Continue Reading here Subscribe to our Newsletter here for regular updates http://www.ukibc.com/news_and_media/news/120514_tata.aspxMon, 07 May 2012 00:00:00 GMThttp://www.ukibc.com/news_and_media/news/120514_tata.aspx