High Commissioner of India on UK-India Collaboration During COVID-19 and Beyond

On the 28th of April, the UK India Business Council (UKIBC) hosted an exclusive virtual roundtable with the High Commission of India and our members.

UKIBC Group CEO Richard Heald, OBE, chaired the discussion led by Mrs. Ruchi Ghanashyam, High Commissioner of India, and Shri Manish Singh, Minister (Economic).

A prominent theme throughout the discussion was the ongoing opportunities for collaboration between the UK and India. In this global pandemic, there is an important need to deepen collaboration between countries, not least the UK and India. The export agreement of paracetamol from India to the UK is one such example. Sharing of research, innovation and manufacturing capabilities will be important.

Although there are still uncertainties of what ‘business as usual’ will look like post COVID-19, UK and Indian companies have developed collaboration opportunities during the current global crisis. For example, TVS Motor Company’s recent acquisition of Norton Motorcycles will build a strong synergy of new employment and capabilities in both the UK and India.

Of course, healthcare is central during this time. Partnerships between those with relevant capacity have already begun and are producing meaningful results, with more in the pipeline.

As one of the largest pharmaceuticals, technology and fintech hubs in the world, India is a leading source of the generic medicines and medical equipment required to fight COVID-19. Alongside its prominent manufacturing base and skilled, driven population, India can position itself as global supply hub.

The High Commissioner stressed the Indian Government’s commitment to support companies and organisations during this time through various platforms such as Invest India at the State level, and the High Commission itself. It is important to note that the temporary phase of confinement will not put a block on entry, access, development or resolution of issues for companies engaged in the UK-India trade and investment corridor. India has for a long time, particularly under Prime Minister Modi, worked to improve its ease of doing business, as reflected in the World Bank’s rankings and in the UKIBC’s own Doing Business in India reports.

In fact, new ways of working may be here to stay. On working from home and digital technology, there have been positive impacts on the environment and people have largely learned to become more proficient and adapt. For example, companies and governments have found that formal, in-person meetings can in fact be completed just as efficiently virtually.

Our discussion with the High Commissioner, the Minister (Economic) and our members bodes well going forward. Our members are adapting their working methods and the government stressed their supportive measures and offering now and going forward.

As the High Commissioner emphasised, the HCI and wider Indian Government will continue its business engagement including through its outreach events, roundtables and more, and build upon the positive work to enable new and greater investment into India. The UKIBC looks forward to continuing our engagement with businesses and the government in this regard.