Issue Six UKIBC Business Exchange

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ELECTION SPECIAL A new chance to seize the India opportunity Views on the changing political landscape Young voters driven by hunger for change

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ELECTION SPECIAL Modi must make good on his promises Views on the changing political landscape Young voters driven by hunger for change

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02 CEO’s foreword

03 Electionfor change

04 View from the top

06 Resultsand facts

08 Winnersand losers

10 A workingmajority

11 New votersnew demands

12 Identity cards key to victory

14 Hunger forchange

15 uKIBC newsroundup

CONTENTS

Rahul Gandhi’s appeals to the electorate went unheeded.

Picture by: Arindam BanerjeeFront cover image:

A Modi supporter expresses his hopes for a new India.

01

View from King’s College London’s India InstituteForeword

WELCOME

In partnership with:

Dear Reader,

The Union election of May 2014 produced a seismic event which overturned many of the accepted tenets of the Indian political topography. The expectations placed on the incoming NDA Government are almost impossibly high.

Key priorities will be to build on the positive momentum immediately post-election by crafting a Cabinet which mirrors popular ambitions and makes decisions which underscore the seriousness of intent.

Already the indications are that India will be ruled over the next five years by a much smaller Cabinet. The strength of Mr Modi’s victory means that compromises in terms of personalities and policies emanating from the Government may be minimal.

His reaching out to Jayalalithaa, the Chief Minister of Tamil Nadu, already demonstrates a pragmatism and intelligence necessary to steer controversial legislation through both houses.

But at the end of the day, the first, second and third priority is to raise the GDP from its current level back towards seven to eight per cent. No mean feat given the woeful fiscal situation. However, six steps would announce the seriousness of the Government’s intent:

lConfirmation that Dr Raghuram Rajan remains Governor of the RBI; lLiberalisation of inbound investment flows with particular reference to FDI; lFiscal consolidation – including a simplification of the tax regime; lDirect and indirect tax reforms – resolution of issues surrounding retrospective taxation as well as an introduction of a unified Goods and Sales Tax; lUnblocking the infrastructure bottlenecks; and, lEncouraging growth in the manufacturing sectors.

We have to be realistic as to what can be achieved in the short term – certainly ahead of the Budget in early July, but a statement covering the above would be almost as impactful as the election itself. We shall see.

Given the unprecedented interest in the election from UK corporates, this issue of the magazine, breaking with our usual focus on India’s business-friendly states, looks at the election results and asks what they mean for UK businesses.

We have insightful articles from the former Bureau Chief of BBC New Delhi, Sir Mark Tully, Gareth Price of Chatham House, Dr Rudra Chaudhuri of King’s College London’s India Institute, and of course UKIBC’s Chair, Rt. Hon Patricia Hewitt.

We also have excellent pieces on how to do business in India, as well as case studies from several UK companies and organisations making real headway, including Derham & Derham, Deeper Blue, CILEx and RICS.

2014 continues to see further transformation in the UKIBC with two new UK India Business Centres opening this year - in Bangalore in July and in Mumbai in December. They build on the success of our Gurgaon Centre. Together the three Centres will offer UK business a strong pan-Indian platform to showcase products and expertise, source business focused services and act as a focus for business- orientated UK business policy advocacy.

I hope you find this issue of the magazine both interesting and useful in understanding what this transformative election result means for your business in India.

Yours sincerely,

Richard Heald Chief Executive uKIBC

Dr Rudra Chaudhuri of King’s College London’s India Institute gives his view on the change in India’s political landscape.

‘Yes we can,’ chanted Narendra Modi at an election rally in the South Indian city of Hyderabad in August 2013. Evoking phrases once touted by President Obama, for Modi the message was clear: change is on its way.

On 16 May 2014, the day the outcome of India’s 16th General Election was announced, Mr. Modi’s past oratory was given substance. The Bharatiya Janata Party (BJP) won 282 seats, 10 more than the half-way mark of 272 needed to form a government and 116 more than it secured in 2009. For its part, the Indian National Congress (INC) was decimated. It won 44 seats, 162 less than before.

In fact, the BJP-led National Democratic Alliance (NDA) won a staggering 336 seats. In short, the election outcome was colossal. The Prime Minister now has a clear mandate for the change he seeks, something that no single party in India has managed to acquire since 1984.

Undeterred and unchallenged by Coalition pressures, expectations remain high and necessarily so. After all, the Modi campaign was all about the economy and growth, something that clearly appealed to a relatively young electorate that made-up almost half of the 537 million voters who exercised their franchise.

Growth rates lingering between 4.4% and 4.7% between the middle of 2012 and the present time have done little to satiate the aspirations of a generation spoilt by extraordinary rates of 9% and more in 2011.

The sharp dip, it could be argued, did well to propel the rhetoric of change into victory for a man who is said - although unconvincingly according to some analysts - to have turned his home state of Gujarat into a bastion and example of development.

Now the key issue is what will he do to deliver change? Even if one were to accept that Gujarat represents some sort of ‘model’ for development, will

An election for change

such models - as adaptable as they may prove to be - work nationally?

Investor confidence in Mr. Modi remains high. Almost every business house endorsed him for Prime Minister well before the election campaign gained ground. He is, in their eyes, the need of the hour.

Indeed, there is a clear shift to the Right in Indian politics. The fact the Left have been reduced to a fourth of the seats occupied by them between 2004 and 2009 is telling.

It is unlikely that the Left will bounce back for at least a decade. Instead, fiscally conservative debates around the so-called trickle-down mantra - in one form or the other - are likely to quickly replace the erstwhile government’s focus on pro-welfare policies.

As for the West, and despite the BJP’s pledge that they will not allow Foreign Direct Investment (FDI) in retail, there is little doubt that trade and investment are key priorities. FDI is likely to be allowed in a whole range of sectors.

Whether this does indeed change India for the better is yet to be seen. However, for the time being, there is much to be said for a party that occupied only two seats thirty years ago. BJP supporters - image courtesy

of Al Jazeera Creative Commons

Bollywood actor Vivek Oberoi

campaigning for Modi.

Richard Heald, CEO, UKIBC

Dr Rudra Chaudhuri

02 03 Business ExchangeIssue 06 www.ukibc.com

View from the top

‘Like any new prime minister, Mr Modi will no doubt emphasise the change. But the reality is that he will build on and accelerate the previous government’s efforts’

My thoughts go out to the family and friends of India’s new Rural Development Minister, Gopinath Munde, tragically killed in a traffic accident, in Delhi, barely a week after taking office.

By Rt. Hon Patricia Hewitt, Chair, uK India Business Council

When Britain eventually introduces electronic voting, the chances are that India will provide the software and security systems.

The world’s largest democracy has just held one of the world’s most exciting elections, with some 90 million first-time voters, a record turn-out, and over 500 million votes in nearly 2 million electronic voting machines counted and the result declared within 12 hours on Friday. Whatever your personal views of the result, the conduct of the election itself has been a model.

India has decisively voted for change, and expectations of the new PM, Narendra Modi are sky-high. There will be significant change. But as I have heard from business leaders and analysts over recent months and days, continuity will be as important as change.

The UK is one of the largest investors in India. Companies like Standard Chartered and JCB have been in India so long they are regarded as Indian. Likewise, the Tata Group is now Britain’s largest manufacturing employer. India’s fortunes directly affect jobs and growth here. So what, realistically, should British business expect from the new government?

We are already seeing a strongly positive impact on confidence, boosting investment and consumer demand. Mr Modi will act swiftly to start delivering his promises of ‘less government, better governance’, faster growth and job creation.

He will slim Delhi’s unwieldy structure of overlapping departments and create a smaller Cabinet, with Ministers and officials tasked to deliver transparent, accountable and clean government. Key departments are likely to have junior Ministers with a business and technocratic background. Fast approvals are likely on major infrastructure and power projects.

Expect a solution of some kind to the retrospective tax issues that are causing such grief to Vodafone

A new chance to seize the India opportunity

and many other major foreign investors. A clear statement about tax policy would reassure Indian and international investors end what Mr Modi himself has dubbed ‘tax terrorism’.

The long-promised Goods and Services Tax (GST) will arrive, probably within the first two years. All this, combined with education and healthcare initiatives will further boost confidence, and opportunities for UK companies.

Internationally, Mr Modi is determined that India should be respected and acknowledged as a leading world power. One of his first major international destination as PM is likely to be Japan, for which he has a strong affinity - and whose investment India urgently needs; Japan is already the banker of the Delhi-Mumbai Industrial Corridor.

Like any new prime minister, Mr Modi will no doubt emphasise the change. But the reality is that he will build on and accelerate the previous government’s efforts.

India is 25 years into a journey of economic reform, and throughout all the changes of government during this period and all the heated debates on vexed issues, the direction of travel has been clear, the only question has been timing.

Mr Modi has stressed that he is not interested in reversing the last government’s decisions just for the sake of it. Despite the damaging fall in India’s growth rate and criticisms of the last government, Congress achieved more than they are given credit for.

For instance opening up of FDI, including on retail; and a phased reduction in the fuel subsidies that so distort energy consumption and damage the public finances. Mr Modi’s decisions on infrastructure will complete the work of the special cabinet committee that has cleared dozens of infrastructure projects in the last year.

The last government’s appointee as Governor of the Reserve Bank, the brilliant Raghuram Rajan, will almost certainly remain in place. The controversial extension of food subsidies, enacted by Congress shortly before the election, will probably be transformed into direct payments to low-income families.

And we should expect the retention of UPA’s highly successful national identity card scheme that has already enrolled 600 million citizens.

But there is a second, critical reason why a Mr Modi government will mean accelerated continuity rather than disruption - the growing importance of the States.

There is only one Government of India but there are many governments in India, and the long-term trend of devolution of power to the States will continue. Over the last decade, Gujarat has grown faster than China.

But there is a growing number of other States where confident and competent chief ministers are delivering for their people and being re-elected. Bihar, for example, which was once a byword for lawlessness is attracting investment, business and jobs. Innovation by States and competition between them are an increasingly healthy force. Mr Modi, with the BJP already running several key States, is likely to strengthen relations between them and the centre.

Alongside the enthusiasm for Mr Modi, there are deep fears amongst India’s liberal urban-elite and, even more important, its large Muslim community, that Mr Modi will inflame communal tensions, destroying India’s commitment to secular democracy.

Optimists point to the fact that despite repeated investigations, Mr Modi has been cleared of responsibility for the horrifying anti-Muslim riots of 2002 and, despite Gujarat’s long history of inter-communal problems, it has been free of communal violence since 2002.

Mr Modi himself has made development the watchword of his campaign and refused to be drawn into any discussion of the communal issue, regarding it as a distraction from what all voters want - jobs, security and clean government. Even before the election campaign began, he challenged some of his more rabid ‘hindutva’ supporters, telling them that his priority was ‘toilets not temples’.

The fundamental reasons why India matters to British businesses have less to do with government and much more to do with the size of its consumer and business market.

India has an extraordinary capacity to innovate, and the potential for British-Indian JVs to develop export markets across Asia and Africa is compelling. But there is a very real risk that British companies that ignore India face terminal decline as smarter, cheaper Indian competitors - that should have been partners - win global markets.

Disappointments over the last five years have reinforced negative perceptions about India. Narendra Modi’s election - and the better business environment that will undoubtedly follow - means that now is the time for British business to seize the India opportunity with both hands.

Patricia

Hewitt,

Chair,

UK India

Business

Council

and

new PM

Narendra

Modi

Placard of new Prime Minster

Narendra Modi is paraded

through the streets.

This is the full version of an article which appeared in the Sunday Telegraph on May 18th


India election facts India election results

NDA 336 195 uPA 59 -175 Others 148 -20BJP 282 166 Cong 44 -162 ADMK 37 28SS 18 7 NCP 6 -3 TMC 34 15TDP 16 10 RJD 4 0 BJD 20 6LJP 6 6 IUML 2 0 TRS 11 9SAD 4 0 JMM 2 0 CPM 9 -7RLSP 3 3 KECM 1 0 YSRC 9 9AD 2 2 RLD 0 -5 SP 5 -18NPF 1 0 JKNC 0 -3 AAP 4 4SWP 1 0 BOPF 0 -1 AIUDF 3 2AINRC 1 1 BVA 0 -1 PDP 3 3NPP 1 1 JDU 2 -18PMK 1 1 JDS 2 -1 HJC 0 -1 ILDF 2 2MDMK 0 -1 INLD 2 2 IND 1 -8 CPI 1 -3 RSP 1 -1 AIMIM 1 0 SDF 1 0 BSP 0 -21 DMK 0 -18 AIFB 0 -2 AGP 0 -1 JVM 0 -1 VCK 0 -1

Alliance Leads (including results) Change

Vote shareAlliances

NDAuPAOthers

NDAuPAOthers

NDA - 39%uPA - 23.4Others - 37.7%

543/543

33659148

+195-175-20


ELECTION FACTfile

• There are 545 MPs in the Lok Sabha (House of The People) with 1.5 million constituents per MP, average in the UK is 68,175.

• Approximately 90 million first time voters. This is more people than live in Egypt, and if it was a country it would be the world’s 13th most populous state.

• A team from the University of Pennsylvania, Carnegie Endowment and

India’s Lok Foundation, which interviewed 68,500 voters before the election, says 57% of respondents cited economic matters (growth, inflation, personal income) as most important. Just 3% mentioned caste or identity.

• Television matters: 153m households out of 234m now have a TV, up from 123m at the last election.

• 815m eligible voters, more than twice as many voters than the entire of the EU.

• Nine phases of voting over five weeks.

• Almost 90,000, first time voters in each constituency between 18 and 22 years of age.

• Six national parties and 50 regional, as well 1,593 registered unrecognised regional parties contended the election.

• The last time a single party won a majority was Congress in 1984.

• A total of 551 million votes were cast, with a record 66.38% turnout.

Indian election View from India

Sir Mark Tully, the former BBC Bureau Chief in New Delhi, gives his personal thoughts on Modi’s victory.

Narendra Modi’s victory at the head of the right-wing Hindu nationalist Bharatiya Janata Party (BJP) has delighted India’s business community and the market.

All that he has said during the campaign and afterwards indicates that he will make development his top priority and aim to awaken the Indian economy from the torpor it has sunk into in the second period of rule by the Nehru Gandhi family’s Congress party.

Modi made clear that he has plans to tackle inflation which was one of the issues the electorate was most angry about.

He apparently realizes that he needs to take steps the Congress party shied away from, including doing away with outdated and restrictive agricultural marketing regulations, and interestingly because he has set his face against foreign investment in multi-brand retailing, encouraging India’s corporate sector to get into retailing along with cooperative societies.

Modi has earned a reputation for efficient and business-friendly administration. He will certainly want to cut through the red-tape that makes India such a difficult country to invest and conduct business in.

He will also need to reform what is called the Inspector Raj - the multitude of labour, health, and all the other inspectors able to order production in a factory to be halted if they are not kept happy.

Modi is also expected to make the tax system more simple. What is really needed is to alter the attitude of tax officials.

Modi must now make good on his promises

At present they look inwards harassing those who pay their taxes, when they should be looking outwards to bring many more of the millions of Indians who don’t pay taxes within their purview.

The last government’s decision to change tax laws retrospectively has done enormous damage to business confidence. Modi will surely have to retract that if he is to live up to his promises to the business community.

On the infrastructure side I think Modi will want to launch some major projects which will be very visible achievements. One could well be speeding up the construction of the railway freight corridor so that he clears the existing lines for much-needed faster passenger trains. There are likely to be road and house building programmes too.

But in all the euphoria of Modi’s victory it is wise to remember that a substantial majority is no guarantee of a successful government.

In 1984 Indira Gandhi’s son Rajiv won many more seats than Modi and he too promised to modernize India and be business-friendly. He achieved little and ended his five-year term in political disarray.

What those who are less than enthusiastic about Modi’s victory fear is that when the going gets rough, as it almost certainly will, he will fall back on his party’s Hindu nationalist agenda to whip up support.

Internally this would destabilize the country and externally it would alarm foreign investors. Modi has said he wants to take all Indians with him, but 15% are Muslims who understandably feel threatened by Hindu nationalism. Modi must take them along too.

What Next?

Call the UKIBC Business Helpline for more information on doing business in India on 0800 0196 176

Narendra Modi | Bharatiya Janata Party (BJP)

Expectations of Narendra Modi, the former Chief Minister of Gujarat are incredibly high. He is widely seen as having successfully steered Gujarat’s economy during his four terms as Chief Minister, but his role in the 2002 Gujarat riots is controversial in India.

The BJP election campaign - personally led by Mr Modi - has broken the mould of Indian electoral politics with its presidential-style campaign, the use of social media and the creation of new, uniquely Indian campaign techniques such as the life-size holograms of Mr Modi beamed into remote village rallies. Having secured 282 seats for the BJP alone, the National Democratic Alliance (NDA) with 336, and Narendra Modi have secured a significant majority, the first since 1984.

The Winners and Losers

Narendra Modi, Prime Minster

of India - Image courtesy of Al

Jazeera Creative Commons

Sir Mark Tully

Rahul Gandhi, Indian National

Congress - Image courtesy of Hibi Eden

Creative Commons

Arvind Kejriwal, Aam Aadmi

Party (AAP)

‘But in all the euphoria of Modi’s victory it is wise to remember that a substantial majority is no guarantee of a successful government’

Rahul gandhi | Indian National Congress (INC)

The son of Rajiv Gandhi, a former Prime Minister of India, and Sonia Gandhi, the current President of Indian National Congress, Rahul Gandhi has largely been seen as a reluctant contender.

His campaign failed to connect with voters, and the election result will be a crushing blow to the Congress party and the Nehru-Gandhi family which has dominated Indian politics since independence. The result reflects voter anger with Congress, which has been mired in serious corruption scandals and whose leadership has been considered ineffectual since the 2008 financial crisis.

Arvind Kejriwal | Aam Aadmi Party (AAP)

Arvind Kejriwal is a former civil servant who briefly served as Chief Minister of Delhi from December 2013 to February 2014. He launched the Aam Aadmi Party, or Common Man party, in 2012 and secured a surprise win in the 2013 Delhi Legislative Assembly elections which catapulted him to national attention.

His party has brought the issue of corruption up the political agenda during the election, but only won four seats in the national elections. Arvind Kejriwal himself failed to secure a seat and accordingly the party has not managed to translate its achievement at the end of last year into national success.

Critics point to Arvind Kejriwal’s behaviour in government as a key factor in the AAP’s failure on the national stage. He participated in a hunger strike over control of the police in Delhi, and after 49 days in office he resigned as Chief Minister because of a failed attempt to pass anti-corruption legislation which the local Delhi Government was not constitutionally permitted to table.


New Prime Minister of India

View from Chatham House Indian elections

India’s young voters

Gareth Price of Chatham House’s Asia Programme asks what India’s first single party majority in a generation actually means.

For the first time in 30 years, Indian voters have given a single party a majority in parliament. The election of the Bharatiya Janata Party (BJP), led by Narendra Modi, has given huge cause for optimism, particularly among India’s business community. However, it may well lead to concern amongst India’s minority communities.

Optimism is based on two factors. First, as Chief Minister of Gujarat, Modi has created what is seen as a business-friendly environment - reflected in the substantial financial support given to him by Indian corporates.

Second, the excitement stems from the election of a majority government. Successive governments have shirked - or been unable to implement - difficult decisions because of their reliance on more dirigiste coalition partners.

The need to appease coalition partners has also led to a growth in the number of ministries - 71 MPs were ministers in the previous government.

With over-lapping responsibilities on key issues such as energy and water, coherent policy-making was impossible. A stronger government should be able to streamline government, and to take the tough decisions needed to introduce a range of reforms to stimulate India’s economy.

Modi’s success appears stunning adding 166 seats from its result in the previous election, and gaining seats in areas in which the BJP had never previously been popular (although, it is worth noting, winning only 31% of the popular vote).

The outcome clearly seems to reflect a change in India. The approach of Congress and most regional parties in providing hand-outs to marginalised groups has been rejected, particularly by younger Indians, in favour of a focus on economic growth per se. At the same time, the BJP clearly benefitted from the lacklustre campaign of the Congress Party.

But his greatest success was in the populous northern

A working majority

states of Uttar Pradesh and Bihar. The BJP won 72 out of 80 seats in Uttar Pradesh (one-quarter of its total seats), and 22 seats out of 40 in Bihar.

A number of these seats are three- or four-way contests, and Modi’s campaign here included an element of caste appeal. While many moderates supported the BJP for its economic appeal, Modi will have to meet the demands of his hard-line supporters.

Initially a Hindu hardliner, Modi has reinvented himself over the past decade as an efficient and competent manager. Yet his election campaign contained both promises of good governance with more hardline policies.

Modi has mooted a ban on beef exports (India recently became the world’s leading beef exporter) which would provide a relatively symbolic nod to his Hindu nationalist supporters.

But if the expectations of moderates (and foreign business) are to be met, the Hindu nationalist element will have to be secondary to the economic agenda. Questions over social cohesion will remain until his policy priorities are more fully mapped out.

For the UK, Modi’s election brings opportunities and challenges. Economic reform and governance improvements within India do not necessarily equate to removing curbs on foreign investment.

However, the election of a majority government is likely to remove curbs in sectors – such as insurance – in which there is broad agreement on the benefits of foreign investment. And better governance will assist those companies already operating in India.

On the downside, Modi’s priorities are likely to be domestic rather than external, and his foreign policy is likely to focus on the region – and in particular on China – rather than on the West.

Sanjay Suri, Gareth Price and Sir

Martin Sorrell (L-R) discussing

the Indian elections at a recent

UKIBC event.

By Adam Pollard, Communications and Marketing Manager, uKIBC

India is always a country of unfathomably large numbers, but when it comes to elections, the stats are almost inconceivable. During the election 90 million people voted for the first time. To try and put that in perspective it is more people than live in Egypt or Germany, and if this group of voters were to constitute a separate State, it would be the 13th largest in the world.

In the run up to the elections this figure understandably grabbed headlines all over the world, but aside from breaking election records, why does this matter?

India is a young country with almost half of its population under the age of 25, and 65 percent of the population under 35.

It has also experienced dramatic growth, since the first wave of liberalising reforms in 1991, which has radically altered the makeup of Indian society and its economy. The middle class is already over 300 million people, but on its current course it is expected to nearly double to around 583 million by 2025.

This combination of sustained and rapid economic growth, and an exceptionally young population means that not only many, but most Indians have little recollection of anything other than an economic boom and rising living standards.

As wages have risen, so have the aspirations of young people. The result of this is that young voters are less bound by caste and religion, but more concerned with employment and opportunities.

These aspirations are visible though increasingly consumerist behaviour and attitudes. By 2025, India is expected to become the world’s fifth-largest consuming economy from its position of twelfth in 2010.

Branded goods, including British brands, are now not only widely desired, but also increasingly commonplace. In fact India’s luxury market is growing at around 20 percent which is considerably

New voters, new demands

faster than the rest of the economy.

This shift towards aspirational attitudes was certainly reflected in the election campaign as Mr Modi stressed his economic record in Gujarat to woo young voters. His personal story from rags to riches only serves to reinforce his appeal and allow him to embody the mood of India’s young.

Modi is not the only political figure to grasp this shift. Despite their lacklustre performance in the national elections, the surprise success of the AAP, or Common Man’s party, in New Delhi back in the state elections during December 2013 tied into the same aspirations.

As did Rahul Gandhi’s attempts to link the emergence of such aspirations to Congress’s dominance since 1991.

That politicians are listening to young Indians and have taken note of this transformation is undoubtedly exciting. However, with all of these new aspirations and demands they will need to deliver. Not only does India now need to sustain its growth by creating a staggering 10 million new jobs each year, but now they increasingly need to be high-skilled and well-paid jobs to sustain the expectations of its youth.

Failure on this account is unlikely to be accepted.

‘A stronger government should be able to streamline government, and to take the tough decisions needed to introduce a range of reforms to stimulate India’s economy’

‘As wages have risen, so have the aspirations of young people - the result of this is that young voters are less bound by caste and religion, but more concerned with employment and opportunities’


Insight Insight

Nathan Subramanian, a principal teaching fellow at Warwick Business School, offers a personal view about technology and social media during the Indian election campaign.

Without question, Narendra Modi and the BJP were ahead of the curve in the use of new technology, but equally, we must not over-estimate its impact.

Sometimes you gain a better and more reliable perspective on your country, after you have left it, and when you consider the world view of the middle and upper-class Indian, for most, it is all about themselves.

In general, they have a completely different view to the rural poor, who still make up the majority of the population, so we must take care to differentiate between their perspectives.

Something like 85% of Indians do not have access to the internet, so when you read writings and commentaries about the election, you must remember that at best, those views are coming from maybe 20% of the population.

The economic differences between the rural poor and India’s middle-class are enormous, and they also have huge sociological and value differences, so when you look at views on social media, they are coming almost exclusively from the urban middle-classes.

Social media certainly wasn’t a make-or-break factor in the election, although it was an influence, especially in changing how people perceived the different parties.

I think the use of the Aadhaar, India’s unique national identification number, was more of an influence on the election, because around 800 million people now have biometric identity cards.

It’s been a remarkable success story, because previously many people did not officially ‘exist’, and there’s no doubt Aadhaar’s existence reduced the level of electoral fraud dramatically.

Identity cards key to campaign victory

Modi must act to secure lasting economic reform

Although it was a private sector initiative, the take-up of the 12-digit identification numbers was driven very strongly by Congress, and opposed by the BJP on grounds of security and liberty issues, so it will be interesting to see if they change their stance now they are in government.

Another aspect of the election campaign was how Modi and his party used technology to communicate directly with voters, at the grassroots level.

I thought the use of holograms, to project an image of Modi onto stages and platforms, was very innovative, and it was also a great idea to use video-conferencing to engage with voters, especially through the Chai pe Charcha concept, which means ‘conversations over tea’.

India’s chai-wallahs (or tea-makers) are a unique part of Indian culture, and chatting over a cup of tea has long been one of our country’s favourite pastimes, but Modi took those traditional concepts and applied new technology.

By projecting his image into the tea-stalls, chai-wallahs and their customers were able to put questions to him in real-time, and I suspect that creative use of technology had a significant impact on the decision-making of voters.

Congress preferred to use the traditional methods of reaching people; mass rallies, print and broadcast media, and the results suggested their approach failed.

Modi was very professional right from the start, better organised and more focused on the best way to reach the right people in each state.

He also recognised that most Indians, in rural and urban areas, had reached a point where they wanted to improve themselves and their standard of living.

In the past, farmers and other rural Indians wanted support, but now they are aspirational, and whilst the BJP recognised that shift in mindset, Congress didn’t, and stuck rigidly to the promotion of policies which are now outdated and unpopular.

Modi also had a much stronger story to sell, because under his leadership Gujarat has become a real success story, whereas the wider Indian economy has slowed down in the last year or two.

Nathan Subramanian

‘It’s been a remarkable success story, because previously many people did not officially ‘exist’, and there’s no doubt Aadhaar’s existence reduced the level of electoral fraud dramatically’

Munesh Khanna, who leads PwC India’s Business Restructuring Services Unit, gives his thoughts on India’s new economic agenda.

A decisive and unambiguous verdict, based on the twin planks of Narendra Modi’s campaign - ‘development for all’ and ‘minimum government, maximum governance’- has given the first leader born post-Independence a clear mandate to usher much-needed impetus into the Indian economy.

Its problems are self-inflicted, and 9% growth had wilted to just 4-5%, because of an unwieldy government, ineffective co-ordination between myriad ministries, lack of decision-making and absence of investor-friendly policies.

Modi, a focused and business-oriented leader, unconstrained by coalition politics, and with economic growth as his priority, now needs to usher in long-term economic reform.

The initial high GDP growth did not translate into employment opportunities. With a burgeoning young population (median age 26 years) India requires 10 million new jobs each year.

Growth in service sector jobs cannot fulfill the overall demand for jobs, unless accompanied by significant expansion in the manufacturing base.

Although encouraging job creation within the rigid labour laws is a Herculean task, relatively easier issues relating to land acquisition, infrastructure facilities and power supply can be addressed.

Even before assuming office Modi directed all bureaucrats to identify three projects within their respective ministries, which could be immediately resolved, as this will restart a number of large projects unnecessarily stuck in a quagmire of approvals.

High inflation resulted in tight liquidity, high interest rates and a restrictive monetary policy. Initiatives such as the release of surplus food stocks, accompanied by fiscal prudence will address this in the short-run. In the long-term, overhauling the ineffective distribution system is necessary.

Fiscal deficit has exposed the economy to high inflation, weakening currency and ballooning debt. Wasteful expenditure, inefficient resource allocation, and corruption contribute to this deficit.

A focused approach will bring fiscal deficit within manageable limits. Relatively simple steps, such as simplification of processes for setting up and operating businesses, clarity of regulations and curbing of red tape are a must to attract investment.

By setting up super-ministries to coordinate specific sections of the economy, Modi has assured the business community of economic reforms.

The creation of manufacturing capacities needs to be supported by urbanisation. This has been an integral theme of Modi’s agenda and by immediately establishing the DMIC Corridor, significant infrastructure can be created and also lay the base of new urban centres.

The Gujarat model successfully proved that planning at the state level can create focused industrial development. Given this experience, it would be demonstrative of Modi’s leadership and statesmanship skills to reach out to the states and empower them.

Economic dominance is no longer dependent on territorial security as much as energy security. To address this insecurity the creation of a super-ministry, and ensuring coordination between different energy ministries, will help address energy self-dependence.

Lack of investment interest from non-resident Indians, as well as foreign investors, has substantially reduced trade and investment in-flows. In an era where increased savings of developed countries are competing for investment avenues, India offers a compelling investment thesis from a growth potential.

An integrated foreign and trade policy could go a long way in India’s economic growth.

By inviting South Asian leaders to his inauguration Modi may have taken the first step to creating a viable economic zone. Reaching out to Japan and resource-rich countries such as Indonesia will fulfill this economic agenda.

In summary, seven decades after Independence, India has encountered another tryst with destiny. A strong growth-oriented government can help India seize this economic opportunity.

What Next?

Call the UKIBC Business Helpline for more information on doing business in India on 0800 0196 176

‘Relatively simple steps, such as simplification of processes for setting up and operating businesses, clarity of regulations and curbing of red tape are a must to attract investment’


uKIBC News RoundupIndian elections

‘Party worker lays out political

badges’

By Adriana Vega, Policy and Research Manager, uKIBC

As Narendra Modi’s landmark victory became clear, its significance within India is almost envy-provoking.

The passion with which Indians backed their parties, and the BJP’s sweeping rise across the nation indeed gave it a distinct feeling of history in the making. To be a part of this moment of change must have been thrilling.

Indian voters, many of whom are only recently old enough to vote, went to the polls driven by a hunger for change. A very distinct feeling of hope for a new, revitalised India. Hope and change, the very messages that led Barack Obama to the White House in 2008.

It is easy to see why this election meant so much to Indians. For a nation boosted by messages of rapid growth and on the path to becoming the third largest world economy, society had become disenchanted by living in a different reality.

Grappling with corruption, slowing growth, inflation, poor governance, and lack of jobs all contributed to it. Jobs are a big concern in a nation with a fast-growing number of young people who are largely unskilled. Disappointment had set in.

In fact, a disappointment not unlike what we have seen among businesses, the very job creators that are so needed in the country.

Young voters driven by a hunger for change

It would be unfair to say that progress under the outgoing government did not happen. Indeed, businesses thrived, the economy grew, and many foreign investors continued to expand and succeed.

However, the honeymoon of the post-liberalisation years had, for a while, lost its shine.

Companies, like voters, had become weary of mixed messages and the ever-unmovable bureaucracy. Wait and see had become the new approach. So in a way, the message of hope transcended much more than perhaps Indian voters themselves knew. And that is why everyone paid such close attention.

For industry, this election and its result feels like a breath of fresh air. It could be attributed to Mr Modi’s pro-business speech and promise for change, however, the change goes deeper than that.

The rise of new parties and the emergence of an entirely new political class made up of professionals, academics, businesspeople and common men and women sends a clear message.

A message that says Indian society is ready to grow and get to work. Its new leadership better be ready too, for hopes and aspirations are high and government will be held accountable. The deflated Congress party are the first to learn this lesson.

The fact that the newly elected party enjoys a majority means that change will come, and it will happen fast. This election mattered, and the results demonstrate how much. On the day results were announced, Mr Modi said “India has won, good days are about to come”. I think he meant it.

‘For a nation boosted by messages of rapid growth and on the path to becoming the third largest world economy, society had become disenchanted by living in a different reality’

Bangalore - The second UK India Business Centre, located in the Koramangala district of Bangalore, is set to fully open this Summer, with a third to open in Mumbai by the end of the year. Phase one of the Bangalore Centre has opened and the first residents moved in during May. The Centre in Bangalore will comprise of 12,500 sq. ft.

Commenting on the second UK India Business Centre, Richard Heald, CEO, UKIBC, said “With the addition of Bangalore to the Gurgaon Centre, and the forthcoming Centre in Mumbai, UKIBC will have a geographic footprint which covers approximately 75 per cent of the country’s economic activity. A robust platform from which to support British business in India.”

uKIBC Sector Policy groups

UK & India - This year UKIBC launched Sector Policy Groups for members in the Advanced Engineering and Manufacturing, Life Sciences and Healthcare, Retail Lifestyle and Logistics, and Skills and Education sectors. With Policy Groups in the Digital Innovation and Infrastructure Sectors to be added later this year.

The UKIBC Sector Policy Groups provide a platform to discuss areas of common interest for British businesses in India, such as market access and regulatory matters, the economic impact of political decisions, commercial trends and emerging opportunities.

For more information contact [email protected]

Second uK India Business Centre to open New Financial, Legal and Professional Services work stream

UK - UKIBC has added Financial, Legal and Professional Services to its existing key sectors in order to further help UK companies access the Indian market. The sector is being set up by UKIBC Senior Sector Manager, Caroline Erskine, and will provide market intelligence and policy advocacy support to UKIBC members in the sector.

For more information contact [email protected]

Advisory Council meets for the third time

London - At the beginning of June the UKIBC’s Advisory Council held its third meeting to discuss UK India collaboration opportunities in sectors including infrastructure and skills. The Council has been set up to provide strategic advice and insight, helping UKIBC focus its efforts more effectively on the opportunities in India’s key sectors and States.


uKIBC News Roundup

The Indian Angel Network (IAN) has officially established operations in the uK

UK - The launch of IAN in the UK was led by British Prime Minister David Cameron at a reception at 10 Downing Street. The significance of the occasion was underlined by the participation of a number of several senior ministers including Oliver Letwin, Vince Cable, Matthew Hancock and Lord Livingstone.

IAN promises to be a great network for UK companies looking for access to funds, mentoring, and the Indian and global markets. Of course IAN’s launch in the UK, and the investment opportunities it offers, complement UKIBC’s vision.

In Conversation with Mr S RamadoraiLondon - During this UKIBC event, hosted by Herbert Smith Freehills, Mr Ramadorai gave his perspective on the remarkable achievements of the last two decades, and shared his thoughts on the challenges and opportunities of the future. Mr S Ramadorai has worked at the highest levels of both business and government, and is uniquely placed to deliver insights into India’s progress to date and future prospects. More British companies

sign up for Launchpad®Gurgaon - Cluttons a firm of Chartered Surveyors, established in 1765, have signed up for UK India Business Council’s new low-risk market entry service – Launchpad - at The UKIBC Business Centre in Gurgaon, India.

Speaking about the service Ian Gladwin, Equity Partner, Cluttons said “The UKIBC offered a de-risked market entry strategy choice. Cluttons’ Board were conservative in their approach to in-country risk exposure and the UKIBC brand offered a relatively cost effective and timely way of being in the market without the need to set up an Indian Pvt Ltd from the start.”

The core Launchpad support is offered through a dedicated consultant, based at the Business Centre in Gurgaon, devoted to helping clients understand the market through in-depth feasibility studies and detailed investigation of market conditions.

For more information, please email [email protected]

International Certificate Programmes launched

Gurgaon - The Lavasa Corporation and UK India Business Council, in collaboration with the Association of Colleges, UK and Manipal City & Guilds (MC&G) have launched an international certificate programmes in construction and unarmed security.

For more information, please email [email protected]

India’s manufacturing skills gap – with The Welding Institute

Gurgaon - The Welding Institute (TWI) and UKIBC held an interactive session on the manufacturing skills gap in India. During this session, participants discussed the key challenges and explored collaborative solutions. BG-Group, Godrej, Jindal Power and Steel, Siemens, Tata Group and 25 other companies joined TWI for the programme.

Tinius Olsen product exhibition at gurgaon Business Centre

Gurgaon - Tinius Olsen Materials Testing Machine Company and its Indian partner Aimil Ltd, conducted a joint seminar with UKIBC on “Quality and Performance Testing of Plastics — Raw Material and Components” in Gurgaon. The event was attended by representatives from both industry and academia, and Tinius Olsen exhibited their testing products that are available in the Indian market.

Successful uKIBC cross-sector delegationUK & India - In March, UK India Business Council took a successful British business delegation to Delhi, Gurgaon and Bangalore. This delegation gave UK companies the opportunity to meet Indian businesses looking for British suppliers and partners, engage British businesses already succeeding in India, and learn about the emerging opportunities in three of India’s most exciting business destinations.

For more information about UKIBC delegations contact [email protected]


uK-India success stories

For more information on uKIBC events please email [email protected] or call 0800 0196 176

Advanced Engineering and Manufacturing

lBAE Systems enjoyed a highly successful DefExpo 2014, with modernisation through technology and capability sharing with India’s domestic defence industrial base as the mantra at its showcase. lAstute Electronics Ltd have announced that their Indian joint-venture business, Astute Sattva Electronics, was incorporated on the 20th February 2014. lLaser Quantum, the UK’s largest manufacturer of lasers has a new distribution agreement with Simco Global, which has already resulted in new business in India. lRDVS have launched their joint venture (IN-RDVS Electrical Consulting Pvt Ltd) in Pune and has successfully recruited 10 engineers to support automotive customers across India. lInstitution of Civil Engineers – ICE ran professional reviews in Chennai and Bangalore for Indian engineers seeking to gain thier internationally recognised professional qualification. lMittal Group, India’s largest producer of copper alloy coin blanks, strips, components and bullet cups, has engaged Ajai Ranawat, Lexden Ltd, as its UK representative to facilitate partnerships with British firms.

Digital InnovationlCallPro CRM continues to win new business in India, and is now providing industry giants UBM with a solution for their telecalling, lead generation and sales prospecting needs. l Shift Thought has just published “Digital Money in India 2014” after returning from their research on mobile wallets and payments in India.

Life Sciences and HealthcarelIn February 2014 TPP went live with SystmOne at its first India site. Brit Health are using SystmOne in their primary health clinic, becoming a flagship of digitalised patient care.

uKIBC Research and Publications

uKIBC produces insightful research papers, reports and regular publications to keep our members and wider stakeholders updated on the India business opportunity. To subscribe to Business Exchange email [email protected]

l CambTEK Limited – ably assisted by their Indian distribution partners, Indtech Instruments, CambTEK launched their Rapid Extraction System for pharmaceutical tablet sample preparation in India.

Retail, Lifestyle and LogisticslLush Ltd., British cosmetics manufacturer and retailer, have applied to the DIPP seeking permission to operate as a single brand retailer under the FDI rules and are awaiting a decision. lTea People, along with their sister charity New Leaf Trust are making a film about the life of tea garden workers and their children in India. The film aims to highlight the struggles faced by, as well as the achievements, of India’s tea pickers. lPavers England have opened a beautiful new store in Mumbai’s amazing new international airport.

Skills and EducationlUK arts organisation Superact is to run a skills programme in India aimed at boosting employability and self-esteem of unemployed women in Mumbai. Funded by UKIERI, Superact will engage female participants using its accredited qualification Supporting Employability and Personal Effectiveness (SEPE). lPro2 delivered another successful automotive engineer training course, at a new venue in Bangalore. lThe Association of Corporate Treasurers (ACT) held its inaugural

Effective Treasury Management training course in Mumbai in February. ACT will now be offering further public and in-house training later in the year. lDerbyshire-based management consultancy Mirams Waterhouse Ltd has registered in Kolkata to develop vocational

skills training and skills assessment services in various Indian states. lManchester Metropolitan University Hollings Faculty, Food and Nutrition Department, is running a student exchange programme for UK students to visit industry and key food science research institutes in India and for Indian students to visit MMU.

Financial, Legal and Professional Services

l Grant Thornton UK LLP, in collaboration with the Confederation of Indian Industry, have published “India Tracker 2014”, a report on how Indian companies are playing an increasingly important role in the British economy, contributing to positive GDP and employment growth. lPraefinium Partners has started fund-raising Euro 200m for its second India centric private equity fund after its first one, now in its 5th year, has delivered annual returns of 17 per cent. lKhaitan & Co represented Piramal Enterprises Limited (India) and IndiaReit Fund Advisors Pvt Ltd in setting up a landmark and intricately structured fund to co-invest in opportunities in Indian real estate. l The Clasis Law team, headed by Sakate Khaitan, acted on Indian aspects of the successful restructuring of debts for Southern Petrochemicals Industries Corporation Limited (SPIC) in India, which involved the first ever landmark Scheme of Arrangement in India to include both secured and unsecured creditors.

generallThe UK IPO has supported the Federation of Indian Chambers of Commerce and Industry to produce a Copyright Enforcement Toolkit to raise IP awareness amongst police and customs officers in India.

upcoming Events Networking event with FICCI CEO

Delegation Tuesday 24 June | London

Doing Business in India with the Essex Chamber of Commerce Friday 27 June | Essex

Seminar on “Bangalore as Biotech hub” to be presented by Biocon Wednesday 2 July | Bangalore

Opportunities in Smart Innovation and Low Carbon Technologies Friday 4 July | London

Networking event with inward delegation of Ahmedabad university MBA Students Monday 7 July | London

Reception at the uK India Business Centre in Bangalore Thursday 10 July | Bangalore

India Market Event – International Festival for Business Thursday 10 July |Liverpool

Aerospace Sector Opportunities in India Thursday 17 July | Farnborough

uKIBC member networking in gurgaon Thursday 31 July | Gurgaon

Indian Outsourcing and BPO Industry: Changing Perceptions Thursday 7 August | London

CambTEK

launches

Rapid

Extraction

System

New Members & Sector Subscribers

Anglo Schools International Services B2B Marketing British Airways plc Deeper Blue Ltd Good Values LH Blenheim REM (UK) Ltd Rio Tinto Sai Enterprises ltd

Dedicated service for Small Companies - Sector SubscriptionThe uKIBC offers a Sector Subscription - tailor made for small companies looking to enter India or are new to India. We all know that entering new markets is never an easy option but the case for export is equally compelling. According to the uKTI, firms that export increase their productivity by 35 per cent in the first year alone; they achieve stronger financial performance and are more likely to stay in business. The sector subscription service provides small companies market intelligence via monthly sector views, quarterly reports, and free access to events in their sector.

For more information or to subscribe please telephone 0800 0196 176 or contact [email protected]

Outward Skills Delegation to the FICCI global Skills Summit w/c 1 September| Delhi

Finding your route to market for Fashion, Lifestyle and Consumer goods companies Tuesday 16 September | Manchester


Practical Advice Digital Innovation

Partnership approachcritical to UK businesses

Blue duo stream their services to a new marketA communications agency from London has just opened its first office outside Europe ... in Bangalore. Ian Halstead finds out more.

It’s a long way from SW19 to Bangalore, but Deeper Blue is confident that its fledgling partnership with Delhi-headquartered CIMGlobal will survive the tests of time and distance.

The agency, a vehicle for industry veterans Jeremy Garbett and Laurence Croneen, specialises in all forms of communication; from strategic consultancy and campaign analysis, via film, video and TV, to digital, social media and print through its Wimbledon Village offices.

Delhi-headquartered CIMGlobal, which was founded in 1997, organises conferences, exhibitions, events, and other management services for corporate customers and trade associations, through a network of seven offices in India, with others in Dubai, Singapore, London and Amsterdam.

Garbett and Croneen came together in 2009, aiming to use their 40 years of combined experience, much with Jack Morton Worldwide, to become front-line principals for their own niche agency.

Among those to use their expertise have been Samsung, Lexus Europe, Vauxhall, Chevrolet and Reed Exhibitions, and one of the latter’s events brought Garbett and CIMGlobal’s founding CEO, Prasant Saha, together, as the former explains.

“I was chairing Reed’s annual CEO leadership summit in Barcelona three years ago, and happened to meet Prasant. We got on well, and then met up a while later, when he offered us the chance to work out of one of his offices in India,” recalls Garbett.

“We’d been doing pretty well in Europe, and had considered the idea of establishing a presence in Asia. We thought the offer through, and Bangalore seemed the place to be because it’s a very dynamic entrepreneurial location, and also one of CIMGlobal’s biggest offices.

“We then spoke to seven or eight of our blue-chip clients in India, to see what they thought about us opening up there. The reaction was very positive, so

Deeper Blue co-founders

Laurence Croneen (left) and

Jeremy Garbett.

Rohit Singh.

we decided to go ahead and set up Deeper Blue Asia (DBA) as a partnership with Prasant and his team.”

However, Garbett stresses that the Bangalore office won’t be a mirror image of the agency’s present operations, and will operate as a stand-alone venture.

“We’re a boutique agency, so we won’t just parachute people in. We’ll start with two or three experienced professionals from Europe, and if we see a flow of work, we’ll look to base someone there permanently,” he says.

“We go live in June, and we’ll see what response we get from our existing clients, and potential new ones. We’re very automotive-focused at the moment, so we’ve been brushing up on our market intelligence, and we’ve met GM’s people in India.

“We’ve also been setting up conversations with other blue-chips, including Accenture, Cisco, IBM, KPMG, but we’re taking it slowly.

“We won’t be swinging in there pretending to know what is right and proper, but we are committed to the market, and are already thinking about other offices there.

“It’s only an idea at this stage, we’re not going to over-commit resources, or start dreaming of having offices with 200 staff and more, but I can see a time when we maybe have pods of 20 to 30 people, in three or four Indian cities, and of course, CIMGlobal already offices in seven cities.

”The crucial thing for myself and Laurence though - as with all new ventures - is to be careful that we don’t raise the expectations for DBA too high, and that we always balance clients’ requirements against our resources.”

‘It’s only an idea at this stage, we’re not going to over-commit resources, or start dreaming of having offices with 200 staff and more, but I can see a time when we maybe have pods of 20 to 30 people, in three or four Indian cities’

Rohit Singh, who heads UKIBC’s market entry & research team in India, explains his work.

We are here to help UK-based companies and organisations learn more about India; which might involve researching market opportunities in a particular sector, identifying potential partners, or providing information about such issues as options for market entry, business set-up requirements, taxes and regulations.

Enquiries come via many routes, through the business development unit in our London office, in person, via our web-site, phone calls or e-mails, or through personal contact between our specialist sector leads and companies in the UK and India.

Since the first UKIBC India office opened in Gurgaon last year, we have seen a surge in enquiries, with retail generating the most, followed by advanced engineering, healthcare, and skills & education.

Typically, we receive between 20 to 30 enquiries every month, spread across all our core strategic sectors from Infrastructure to ICT.

The range of topics is broad, but many involve companies trying to determine potential demand for their products or services in India, to discover the right partners, distributors, importers and agents, and to understand the compliance and regulatory framework.

Some enquiries concern India in general, but there is a greater focus on the key geographic clusters in the North (Delhi), West (Mumbai) and South (Bangalore).

One of the most common enquiries is from UK companies looking to be introduced to Indian companies or individuals who they think can help them, and such ‘introductions’ are a significant element of activity for our market entry sector advisers.

Enquiries came forward consistently during the lengthy election campaign, but it was noticeable that many companies delayed their decision-making until the outcome was clear.

Now we have a strong, stable and non-coalition government in place, we expect a surge in enquiries from the UK, and an upward trend in business sentiment.

Our services are available to both UKIBC members and non-members, although the former do receive a 10% discount.

All our work is precisely tailored to the requirements of individual clients, and we always cost the time required for our advisers before each project starts, so there are no surprises as the work proceeds. We always find too that our charges are very competitive, when compared to the consulting industry.

We are already able to offer pan-India services, but as the UKIBC extends its network of business centres, to Bangalore and then to Mumbai, our local reach and knowledge will be enhanced, as specialist advisers will be based in each new location.

Metalista:Manchester-based metals dealer Farhan Ishtiaq turned to UKIBC, when his Metalista venture was looking for potential clients in India.

“I started trading in April 2012, buying up ferrous scrap metal locally, melting it down, then sending it in containers to customers in Pakistan and Bangladesh,” he explained.

“Turnover will be over £3m this year, so it was a good time to look for new markets, because prices are so volatile. I met Steve Toogood, from the UKIBC, at an event in Manchester, who explained what the research and market-entry people could do for me.

“He convinced me, I signed up, and the next thing, I was talking to eight new companies in India, thanks to all the introductions and information I received. By myself, I just wouldn’t have known where to start.”

What Next?

CONTACT:

Rohit Singh Head of Market Entry & Research DL: +91 (0) 124 453-7800 or 461-3050 M: +91 (0) 882 681 9955 E: [email protected]

What Next?

CONTACT:

Radhika Pandey Digital Innovation Sector Manager UKIBC

T: +44 (0) 207 592 3842

E: [email protected]

‘Now we have a strong, stable and non-coalition government in place, we expect a surge in enquiries from the UK, and an upward trend in business sentiment’


Digital innovation Life Sciences & Healthcare

Scope to invest in the emerging medical market

Path from poverty is paved with good technology

What Next?

CONTACT:

Radhika Pandey Life Sciences and Healthcare Sector Manager UKIBC

T: +44 (0) 207 592 3842 E: [email protected]

India’s healthcare sector offers huge scope for UK pharma companies, ICT suppliers, investment funds and advisers. UKIBC sector manager Radhika Pandey sets the scene.

The last decade has seen significant economic growth for India, but it has also suffered a significant increase in lifestyle-related diseases, including diabetes, cancer and cardiovascular.

However, rising incomes, increased awareness about health issues, and greater access to healthcare have seen the sector grow dramatically.

Healthcare spending is now more than 4% of India’s GDP, and we expect the sector to retain its momentum for the foreseeable future.

In the last 14 years, India has received some 14.5 billion USD of FDI (foreign direct investment) across various healthcare sub-sectors, which is an impressive figure.

Unfortunately though, the sector still trails far behind those of other emerging economies, in terms of relative GDP, underlining both the wide room for growth, and the scope for overseas corporates and funds.

The low level of public healthcare funding (c30% year-on-year) also provides ample scope for private investment throughout the sector, and across the value chain.

There is, for example, a gulf between India’s existing hospital infrastructure and global standards, especially in terms of provision of beds and access to qualified medical professionals.

Unlike the UK, where the NHS has long set the international benchmark for public sector healthcare, around 75% of India’s hospitals are privately-owned, with potential for rapid growth due to rapid urbanisation.

Only the middle and upper-classes can afford such care, although central and state government do provide some treatment free, or at lower rates.

Equally, there is much scope for improvement - and for FDI on a massive scale - throughout the healthcare supply chain; pharmaceuticals, diagnostics, medical equipment, supplies and medical insurance.

There is especial interest in the pharmaceutical sector, which attracted 11.6 bn USD of the FDI mentioned earlier, as low costs and a large talent pool make India an attractive destination for both R&D and contract manufacturing.

Key areas of interest to UK-based companies are speciality products, technology-based solutions, medical equipment and supplies, and both primary and tertiary care.

As I have said, India’s healthcare sector has significant untapped opportunities, driven not least by the rising population and increasing awareness.

At the same time, government schemes and greater insurance take-up will see the breadth of coverage increase significantly.

We expect much overseas investment via either joint ventures or acquisitions, given the liberal FDI policies and the business-friendly nature of the new government.

We also expect a rise in the PPP (public-private partnership) model, which should help spread healthcare into the lower strata of Indian society, especially in rural areas.

India is not an easy place for foreign firms to do business though, especially in healthcare, with a fickle regulatory environment, shortage of qualified people, complex distribution infrastructure, and high focus on established credibility in the domestic market among the major challenges.

However, the UKIBC can help guide UK companies through the regulatory maze, and offer specialist support in all healthcare’s sub-sectors, through our research and market-entry teams in London and India.

Our latest sector report, offering a detailed overview of India’s healthcare ecosystem, will be available in print and online this month.

‘India’s healthcare sector has significant untapped opportunities, driven not least by the rising population and increasing awareness’

Digital innovation can be a key weapon in India’s war on poverty, according to intriguing analysis by McKinsey Global Institute (MGI).

It’s some 20 years since India’s first major economic reforms of the modern era sought to tackle extreme poverty, which has bedevilled the country since its creation.

However, progress stalled during the recent economic slowdown, largely through inefficient programme delivery and an apparent lack of political appetite for a new generation of radical initiatives.

To advance debate on the poverty agenda, an MGI team created a new analytical framework, rooted solidly in economic methodology based on government data, and suggested a raft of measures to deliver at least a basic standard of living to an estimated 500 million people.

The report - ‘India’s path from poverty to empowerment’ - makes a sophisticated and compelling case for reform, and certainly merits detailed study.

MGI’s authors identify four key areas, where they believe more ambitious and inclusive reforms could virtually eliminate extreme poverty by 2022; accelerated job creation, higher farm productivity, increased public spending on basic services, and making those services more effective.

They calculate that if those issues are addressed they will generate significant new revenue, enabling India to meet its fiscal deficit targets, even as it ploughs additional funding into social infrastructure, and to achieve almost country-wide provision for the basics of healthcare, water, sanitation and energy.

One of the report’s core themes is the potential for new technology, in all its forms, to drive much-needed efficiency into existing programmes and structures, and to underpin new ones. Among its proposals are:

lInefficient land markets remain a major impediment to economic growth. Property rights are sometimes unclear, and the process for land acquisition is time-consuming. One solution is to demarcate land-holdings via geospatial surveys, then to provide standardised titles to landowners through digitising records, as Karnataka has done.

lIndia’s agricultural produce market committees (APMC) place severe restrictions on private trade in farm produce. Keeping a digital record of the prices and quantities at APMC auctions would create a sense of accountability and urgency for state-level reforms, and increase the level of transparency and awareness among farmers.

lThe absence of timely and comprehensive price data reduces farmers’ bargaining power with traders, and prevents them selling their produce in the most lucrative market, when multiple options are available. Fee-based price information services can help, by providing automatic and personalised alerts by SMS and/or voice messages.

lTechnology is one of the most promising avenues for transforming the delivery of public sector services. In Maharashtra, villagers use pictorial report cards to track doctors and nurse absenteeism, and audit the availability of medical supplies. In Andhra Pradesh, local ‘health champions’ have electronic devices to connect with trained doctors.

lComputerising and regularly updating ‘beneficiary’ lists can yield considerable results. In the state of Chhattisgarh, SMS texts are sent to villagers when grain shipments are on their way, converting entire communities into watchdogs. Surprise checks and audits by the Tamil Nagu government also help monitor food distribution across the supply chain.

However, the MGI team also calculate that if India’s weak economic performance continues, and no major reforms are undertaken, that by 2022, some 12% of the population - 140 million people - will remain trapped in extreme poverty.

‘MGI’s authors identify four key areas, where they believe more ambitious and inclusive reforms could virtually eliminate extreme poverty by 2022’

Radhika Pandey


Retail, Lifestyle & LogisticsInfrastructure

What Next? CONTACT:

Jesh Rajasingham Skills and Education Sector Manager UKIBC

T: +44 (0) 2075923046E: Jesh.Rajasingham

@ukibc.comW: www.ukibc.com

Louise Brooke-Smith, the first female president of the Royal Institution of Chartered Surveyors (RICS), outlines its India strategy.

India has very ambitious development targets for its infrastructure and housing sectors, but research we commissioned revealed a massive skills gap, which jeopardises its chances of success.

The country is a vast potential market for our profession, so we sought to help address the skills issue, which has plagued the Indian economy for decades, by establishing a specialist academic institution to focus on the built environment sector.

The concept proved immediately popular with the government, employers, consultants, academics and most importantly of all, potential students.

We signed an innovative agreement with Amity University, at its Noida campus, through which we would provide teaching staff, content and assessment structures for courses at the RICS School of Built Environment.

Two Bachelor degrees and three Masters are currently on offer in a range of disciplines, including construction project management, real estate and sustainability, and all the programs were over-subscribed.

The initial campus could deliver between 7,000 and 8,000 qualified people to the industry over the next five years, and if new campuses were added, the figure would rise toward 20,000.

The school has also established a relationship with Salford University, to promote exchanges of academics and students, and stimulate joint research projects and conferences.

In January, we were delighted that the RICS school’s teaching standards were judged ‘outstanding’, by an academic review panel, overseen by independent auditors.

More than 200 firms, including UK-based global consultancies, have pledged support, and in May, a programme of placements began - through internships from construction firms, private equity funds and developers - to ensure students will be work-ready when they graduate.

Infrastructure is a major issue for the Modi Government, and equally, India is a major strategic

market for us, which is why the RICS held its first-ever annual governing council meeting in South Asia, in Delhi, in April 2013.

We have always also had a strong global presence, through 27 international offices, and within the next five years, we will have more members overseas than in the UK.

In the medium-term, I am eager for us to foster links with Brazil and South Africa too, which will be a key element of my term as

president, but India remains our biggest project.

Already, some 50 employers in India have guaranteed placements for the first graduates, and I’d expect that number to increase significantly as the country now returns to normal after the lengthy election process.

It’s early days, but the success of our venture has clearly caught the eye, of employers and students alike, and many of the first cohort are already undergoing internships.

Of course even if we achieve the highest forecast, of 20,000 graduates in the next five years, that is only a drop in the ocean when you consider India’s massive skills requirements, but I am optimistic that we can expand very swiftly, once the new government has settled in.

A masterclass in sorting out skills shortfall dilemma

Louise Brooke-Smith is the founder and MD of Birmingham-based Brooke Smith Planning, a planning and development consultancy, with affiliated offices in Leeds and London, which has been cited by the Royal Town Planning Institute as ‘excellent’ for the last four years.

Louise Brooke-Smith (left) speaking to the CBI’s Shehla Hasan,

at the launch of the first UK India Business Centre

A family venture from England is taking the delights of real cheese to India. Ian Halstead unwraps the secrets of Derham & Derham.

India has always been a barren land for lovers of fine cheese; with its dearth of both high-quality milk and reliable refrigeration plants.

Its domestic market is dominated by processed products - often tinned - and such bland examples of the European cheese-making art as Gouda, Edam and Mozzarella are the most popular imports.

However, Rupert Derham and his sister Emma are determined to seduce India’s taste-buds, with such delights as the subtle creaminess of Cheddar, the salty tang of a crumbly Lancashire, and the distinctive fruitiness of cheeses from the Isle of Mull.

The catalyst for their fledgling venture was a shared passion for India, and like all good cheeses, the idea has taken time to ripen, as Rupert explains.

“As a family, we have a strong link with a charity in Kolkata, so we’ve been to India many times and really love the place. Every time we went out though, people mentioned how much they missed the taste, the texture and the smell of real British cheeses.

“We discussed setting up an online cheese boutique aimed at the Indian market, over Christmas 2011, then revisited the idea in the summer of 2012, and decided that it made sense, so we started our research.

“Working together just seemed natural. We’ve always been close, and we live together, so we had no qualms about going into business. Emma works full-time raising funds and organising events for the Children and Families Across Borders charity, so she’s very good at details.

“I trained as an opera singer, but have always had sales-based jobs, and I’ve been looking for something that isn’t a traditional 9-5, so Derham & Derham seemed perfect.

“We haven’t put any real investment in, so there hasn’t been enormous pressure to make money, and I think our naivete in business has been a strength.

Siblings find a whey to seduce India’s taste-buds

Rupert Derham

“We’ve kept going during the last two years because we believe in what we’re trying to achieve.”

The siblings diligently researched the UK’s cheese-making community and the potential customer base in India, before commissioning an elegant trading portal www.derhamanderham.co.uk

“Every producer we’ve met has been very supportive, and although we’re only on the cusp of trading, we have generated a lot of interest,” says Rupert.

“We see our core market as supplying luxury hotels, and we’ve met the purchasing manager and the chef of one of India’s best luxury hotel chains, and one of the country’s three biggest cheese wholesalers is also interested.

“It’s not a market you can rush into, but we’re on our fourth business visit now, and people are starting to recognise us. True, you can sometimes wait hours to meet someone, then discover they’re not there, but that’s just India.

“It’s all about meeting people, building relationships and learning about them and their families. Once trust has been established, the business side of things is relatively easy.”

Rupert gratefully acknowledges the support of several organisations, including UK Trade & Investment, and the UKIBC.

“Their knowledge of the Indian market has been absolutely crucial, and when we came to set up the business end of our venture there, we couldn’t have done it without them,” he says.

“There’s a tremendous desire for British-made produce in India, the ‘I Love British’ campaign is really starting to take off and our next trip to India is in August, so everything is really coming together, which is very satisfying after so much hard work and planning.”

And when Rupert relaxes at the end of the day, with a glass or two of something, what might his favourite cheese be?

“Definitely a single or a double Gloucester from Charles Martell’s farm,” he says, with a small sigh of pleasures to come. “We’ve met him, he’s a great guy, and his cheeses are just wonderful.”


What Next? CONTACT:

Tara Panjwani Retail, lifestyle and Logistics Sector Manager UKIBC

T: +44 (0) 207 592 3841 E: [email protected]

Inward Investment Skills & Education

UK Trade & Investment helped Indian start-up Zomato launch its first UK site with key introductions to professional services providers. In just over 18 months, it has attracted hundreds of thousands of users.

The idea for Zomato took shape in 2008 in India, when two Bain & Company consultants started uploading restaurant menus onto their office intranet to optimise their team’s lunch search efforts.

A hugely positive response, and continual requests for more menus led to the birth of Zomato: a website offering users a comprehensive, city-wide database of restaurants.

Five years later, Zomato lists 230,000 restaurants in 41 cities globally, and generates revenue through hyper-local restaurant advertising targeted to users based on their location.

In September 2012, Zomato expanded into Dubai, and as its reputation continued to grow, it began noticing tweets from Indian expats in London, speculating as to when it would enter the UK.

Zomato got in touch with the UKTI New Delhi team to explore the possibility, who sent the company detailed information about the UK’s restaurant sector, and introduced them to lawyers, accountants, immigration consultants and real estate agents.

“From the outset, UKTI made a concerted effort to get us the information we needed.” says Albinder Dhindsa, Head of International Operations, Zomato.

“Their introductions to lawyers, accountants and restaurant associations helped us take care of the practical side of setting up locally. In addition, they have an incredible amount of information available online for foreign companies looking to open in the UK.”

In January 2013, the company officially launched Zomato London with two employees. It now has almost 30 full-time employees and plans to treble its headcount by the end of 2015.

UKTI help Zomato soup up their pop-up menus

Taking the law to bridge major gap in training

Zomato London attracts over 800,000 unique visits per month and has over 21,000 restaurant listings in London, plus more than 5.000 listings in Edinburgh, Glasgow, Manchester and Birmingham.

Its UK presence has given Zomato the opportunity to further research other European markets, leading to recent launches in Istanbul, Ankara and Lisbon, and the Czech Republic and Germany are scheduled for launches this summer.

“Our entry into the UK has been seamless, with thanks in part to UKTI,” says Albinder. “Over the coming months and years we look forward to working closely with them as we expand further around the UK, and into mainland Europe.”

Narrowing India’s massive skills gap is a major challenge for the new government. Ian Halstead spoke to a UK-based organisation already planning to make a difference.

For over 50 years, the Chartered Institute of Legal Executives (CILEx) has been helping ambitious individuals to enjoy careers in the legal community.

It is the professional association and awarding organisation for more than 20,000 qualified legal executives, lawyers, para-legals and other legal practitioners.

In the last 25 years alone, some 100,000 people - from the UK and overseas - have followed courses devised by CILEx.

John Westwood, its Director of International Programmes, says CILEx is now aiming to replicate its success in India.

“We are already very active in Africa and the Caribbean, where the quality assurance standards and the quality and rigour it brings to education and training activities, are much valued,” he says.

“About three years ago, we identified India as a new market with significant potential, and an increasing requirement for skills. I was tasked with introducing CILEx to both India’s political leadership and its business community, thus informing organisations in both the public and private sector”.

However, as with all newcomers to India, John swiftly realised that flying solo was a challenge, and began making contact with other UK-based organisations with an Indian presence.

Topping his list was Dame Asha Khemka, the principal of West Nottinghamshire College and Chair of the Association of Colleges (India).

“I’d known Asha for some time in the UK because of the work CILEx does with the further education sector, and she recommended that I talk to Richard Heald (CEO of the UKIBC),” recalls John.

“I have to say that on first meeting, I was ‘blown away’ by Richard’s enthusiasm and knowledge of

India. Richard’s colleagues - and his contacts book - have since been of immense assistance.

“He also confirmed my perception, that India could not be tackled remotely, and it was timely that UKIBC was just setting up its network of offices there”.

“I liked the model on which these centres was based with networking opportunities, introduction to key players and the opportunity to take part in ministerial delegations to India.

“They also have seminar rooms for training and open days as well as ‘hot-desking’, which CILEx could use in the short-term, as well as the option of having a permanent desk with a full-time employee.

“India’s skills agenda is evolving, and the debate has moved into the professional and business sectors. Modern apprenticeships (in the UK) are very much one of CILEx’s specialisms and we’ve been talking to India’s National Skill Development Corporation about developing a similar approach.”

John is also enthused by the rapid growth in India’s LPO (Legal Process Outsourcing) sector, as law firms and corporates from Western countries - notably the UK and the US - outsource production of documents and other legal paperwork to India.

It is regarded as one of the world’s best LPO locations, not just due to relatively low wage rates, but because language proficiency and understanding of English common law is high. Time-zone differences also allow projects to be completed overnight.

“In the UK, CILEx is the established benchmark for training of legal secretaries, legal support staff and para-legals, and its skills-based qualifications are just what the LPO sector, and the Indian government, increasingly require”, says John.

With the support of UKIBC, CILEx has already identified potential partners and hopes to establish its first training programmes in both the private and public sector, in the next six to nine months.

What Next?

CONTACT:

Jesh Rajasingham Skills and Education Sector Manager UKIBC

T: +44 (0) 2075923046 E: Jesh.Rajasingham

@ukibc.comW: www.ukibc.com

CILEx's Director of International

Programmes, John Westwood

‘From the outset, UKTI made a concerted effort to get us the information we needed’

Zomato founders

Pankaj Chaddah

(left) and

Deepinder Goyal

FACTfilelUKTI’s extensive network of experienced sector consultants provides practical help for investors to get their UK operation up-and-running.

lServices include access and introductions to the right people, advice and support on setting up in the UK, in-depth reports tailored to your business needs, and tax advice.

lOther services include ongoing government support once you’ve

arrived, guidance on visas and entry to the UK, tailored assistance for entrepreneurs, and access to trusted commercial providers for finding the best location, quality staff, professional advice on legal and accountancy issues

lUK Trade & Investment 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 dynamic economy.


British Business groups Business Opportunities

Opportunity in water, sewage and waste water management sector

An established industrial group in India with a turnover of £200 million and diverse interests that include water, sewage and waste water management is looking for a tie-up with UK company with expertise and experience in sewage and waste water management. The company has evolved from supplying water, waste water and sewage handling equipment and systems and undertaking turnkey construction to planning, design detailed engineering, constructing and O&M of such projects. It currently operates sewage treatment plants in some major Indian cities.

Response deadline: 24/07/2014Deadline: 24/07/2014

Find out more: http://www.businessopportunities.ukti.gov.uk/uktihome/businessopportunity/758360.html

Opportunity for partnership with an Indian IT servicing organisation

An opportunity for partnership with an Indian IT servicing organisation servicing globally including Spanish speaking countries. It is looking for partners for their products and have developed some interesting business models that should prove to be attractive to technology companies in the UK. The company is seeking to develop the UK as a potential market in cooperation with a well-recognized local company.

Response deadline: 30/06/2014 Deadline: 30/06/2014


Invitation for bids for construction of offshore reefs in India

The Indian Government has received a loan from the International Bank for financing the Sustainable Coastal Protection and Management Investment Programme. Part of this facility will be used for payments under the contract of Construction of Offshore Reefs in one of the state in India. The Project Director, Project Management Unit, Ports and Inland Water Transport Department, invites sealed bids from experienced and eligible bidders for the above work package.



gateway for uK teleom apps companies to come into India

Opportunity for UK telecom apps companies to receive a prominent position on the home screen thus increasing the chances of the customer using their app. A $2 billion Indian industrial conglomerate engaged in technology, entertainment, textiles, education real estate, aviation sectors and having collaborations with world renowned companies such as Phillip Morris, Rohm and Hass, Lenzing, Revlon etc offers UK apps company pre-installation of their apps on android phones in India.



Send us your company’s India based business opportunities and tenders to [email protected]

Hundreds of companies are expected to attend October’s Great Britain-India Business Convention in India. Ian Halstead finds out why.

Technology is at the heart of the New Delhi event, providing both its brand - Connect ‘14 - and the means for visitors to create networking opportunities and promote their companies.

A specially-developed mobile app, and online B2B platform, will allow delegates to set alerts for sessions they are eager to attend, and plan their daily schedule.

It’s the fourth in a series of conventions organised by the British Business Groups in India (BBGs), which have grown steadily in size and scope since the first was hosted in Goa, inspired by Beryl Nasse.

However, BBG Delhi Secretary Mark Runacres says this year’s event will be dramatically different.

“We are moving away from the conventional style of having only speaker-led presentations, and creating a ‘Convention Village’ where delegates can look for the particular zone, or zones, in which their interest lies,” he says.

“There will still be some keynote speakers from business and government, but most sessions will have an interactive feel and be based on exhibits, displays, workshops and panel-based discussions.

“We will have a ‘Doing Business in India’ zone run by the UKIBC, and other areas for such key strategic sectors as education and skills, sustainability, innovation, design, the built environment and technology.

“At the start of the main Convention Day, 11 October, there will also be summits on major sectors of the Indian economy, allowing UK companies to identify potential opportunities, and they are likely to focus on retail, financial services, creative industries, education and skills, defence and aerospace.”

Appsolutely excellent idea to help delegates

Last year’s event attracted 350 delegates, but the number is expected to rise significantly this time, as the sectoral range has been widened, and, in a break from the past, delegates from the UK are actively being invited.

High-profile speakers - including BT Group Chairman Sir Michael Rake, John Lewis Partnership Chairman, Sir Charlie Mayfield, the Open University’s Vice-Chancellor, Martin Bean and Professor Sunil Khilnani, Director of the India Institute at King’s College London - will surely swell the audience.

Ministers from both the UK government, and the new Indian administration, will also give major addresses, as will UKIBC Chair Rt. Hon Patricia Hewitt.

Mark is also appreciative of the decision of the Confederation of Indian Industry (CII) to allow convention delegates free access to its Global SME Business Summit 2014, which is being held in New Delhi in the same week.

“Their event is on the 8th and 9th, and will be a real

networking ‘frenzy’, with major corporates and SMEs from throughout India and elsewhere, so we are thrilled by CII’s offer,” he admits.

“Connect ‘14 is on the 10th and 11th, so we’re expecting many delegates to come a day or two earlier, to visit CII’s summit, and participate in some events focused on investment on the morning of 10th October.

“We will be co-hosting an event with the Indian Angel Network around raising venture funds and we’re in discussion with the Federation of Indian Chambers of Commerce & Industry about a broader investment-focused event.

“We’re expecting the event to be quite a crowd-puller for both BBG members, and for UK companies, as it will be the first major bilateral business convention after the new Indian government has come to power.

“Estimating likely numbers is tricky so far in advance, but we’d certainly love to welcome between 500 and 750 delegates, and early indications suggest we may have under-estimated demand.”

BT chairman Sir Michael Rake

‘We’re expecting the event to be quite a crowd-puller for both BBG members, and for UK companies, as it will be the first major bilateral business convention after the new Indian government has come to power’

global tender for tamping machines

The Indian Railway Board has released tender for ‘High Output Tamping and dynamic stabilising machines. Qty.: 7 nos. The security deposit required will be about £ 20,000/-



Designing, structurally modifying, certifying and supplying of aircraft platform

Bangalore based public sector organisation in India seeking Designing, Structurally Modifying, Certifying and Supplying of Aircraft Platform for AWACS Role.

Technical requirements:

· Designing and manufacturing of AWACS Antenna Dome (about 10 mtr in diameter) attachment (Pylon) structure and dome installation. Provisions for installation of all external and internal elements of the Mission Systems.

· Supply and Integration of suitable power source and distribution circuit and suitable cooling system for Mission Systems etc.



Partnership in water supply, wastewater & sewage treatment and Waste Management

A private sector company is looking for partnerships with UK companies in the areas of 24x7 water supply and wastewater and sewage treatment, and Waste Management

Response deadline: 30/06/2014Deadline: 30/06/2014

Find out more: http://www.businessopportunities.ukti.gov.uk/uktihome/businessopportunity/761740.html Inset: Artist’s impression of

the UKIBC stand at October’s

Connect 14


Issue Six UKIBC Business Exchange

Documents

business leaders

business trips

business people

business links

business dialogue

uk companieson business

business centre facilities

delhi business centre