21 December 2018

  |  CBI India

Update

CBI India Update December 2018

Read all about the launch of Sterling Assets 3: Britain Meets India report, the CBI’s involvement in the India UK Future Tech Festival and an update on the recent Indian state elections in the latest edition of the CBI India Update.

CBI India Update December 2018

Earlier this month, Mr Crispin Simon, HM Trade Commissioner to South Asia launched Sterling Assets 3: Britain Meets India, a CBI-Grant Thornton India LLP report, on 11 December 2018, prior to the reception to launch the India UK Future Tech Festival. Read the report summary and download a full copy of the report. See related press clippings.

The CBI was closely involved in the India UK Future Tech Festival, 11-12 December 2018. We had partnered with India’s nodal investment agency Invest India and Grant Thornton to organise a panel  session ‘UK-India Partnership: Technology, investment and innovation’.

The session was opened by the British High Commissioner to India Sir Dominic Asquith, KCMG and keynote delivered by Mr Deepak Bagla, CEO, Invest India. The panel discussion was moderated by Mr Vishesh C Chandiok, CEO, Grant Thornton India LLP. CBI Innovation Director Ms Felicity Burch was one of the panellists and International Director Mr Ben Digby closed the session. Other panellists included Kishore Jayaraman, President South, Asia, Rolls Royce and Jim Bligh, Director of Corporate Affairs for the UK and Ireland, Tata Consultancy Services. We thank all participants for making this session a grand success. Felicity also moderated a session on ‘Diversity Roadmap in Technology: From Barrier to Frontier’.

November 2018 saw India’s meteoric 23- rank jump in the World Bank Ease of Doing Business rankings putting India in the 77th place and making the dream of attaining the 50th rank achievable. For more information, read the interviews of Mr Ramesh Abhishek, Secretary, Department of Industrial Policy and Promotion (DIPP) and Mr Amitabh Kant, CEO, Niti Aayog, the Indian bureaucrats who made this change possible.

The India team was in the UK for the CBI’s Annual Conference on 19 November 2018 where the UK Prime Minister Rt Hon Teresa May and Leader of the Labour Party and Opposition Jeremy Corbyn spoke. Read the CBI’s response to the Prime Minister and the Opposition Leader.

INDIAN POLITICS

In a significant development, India’s ruling Party the BJP lost in three of the five Indian states (Rajasthan, Madhya Pradesh, Chhattisgarh, Mizoram and Telangana), which went into elections on 7 December 2018. It lost to India’s main opposition party the Congress. Congress won Rajasthan, Madhya Pradesh and Chhattisgarh- in India's Hindi heartland and a previous BJP safe stronghold, mostly on its promise for waiver of loans to farmers still reeling under the aftermath of demonetisation of November 2016. Currently, in the country there is a debate whether such populist measures make economic sense. While economists are divided, read an interesting article supporting waivers and the counter-view.

UK IMMIGRATION UPDATE

Earlier this week, the UK Home Secretary Sajid Javid unveiled the Immigration White Paper which sets out post Brexit rules for migrants. Read the CBI's response to the White Paper.

This announcement created considerable flutter in the Indian media. Here are some press clippings on the popular views in India with regard to this headline.

POLICY

How to make India $5 trillion economy by 2030?

The NITI Aayog unveiled its National Strategy for a New India, which focuses on improving the policy environment in such a way that private investors and other stakeholders can contribute to their fullest and thereby "propel India towards a $5 trillion economy by 2030." 

India on track to meet 2 of its 3 Paris targets

In the Second Biennial Update Report, India is well on way to achieve its commitments for the target to reducing greenhouse gas emission by 33-35% and drawing 40% of its power capacity from non-fossil- based fuels. Read more.

Niti Aayog strategy document estimates 8% average GDP growth during 2018-23 
Niti Aayog sets target of 8% growth over next five years.

‘Upgrades, private investments key to ending farm woes, says NITI Aayog vice chairman Dr Rajiv Kumar. Read more.
 

MEMBER NEWSMAKERS

BT setting up research centre with Indian Institute of Science

British telecom major BT in India has announced that it is setting up a research centre in partnership with the premier Indian Institute of Science (IISc) for collaborative research. Read the press release.

TCS ranks as top employer in Asia Pacific; gets recognition in 29 countries

TCS has been recognised for its outstanding performance as a Top Employer, at global and regional levels (Europe, Latin America, North America, Asia Pacific) as well as in 29 countries. Read more.

GSK-Pfizer combo likely to salvage their brands in India 

The proposed joint venture between the two healthcare behemoths will result in have a leading market share in all key regions, including India. Both the companies’ brands had been struggling in India’s over-the-counter medication segment. Read more.

 

ON THE RADAR

Enabling environment for ‘doing business’

While there is every reason to celebrate India’s phenomenal achievement regarding ease of doing business, the complex regulatory structure still remains a maze in certain states. Sometimes reforms on paper, may not be the same in reality, despite strong efforts by governments. Read an insightful critique on the enabling environment for "doing business".

The last two months of the year have passed quickly and we are in the festive season already!

Wishing each one of you a Merry Christmas and a joyous 2019!

Looking forward to working with you next year.