Mr. Pankaj R Patel, President, FICCI and CMD, Zydus Cadila Healthcare will be leading a CEOs delegation to the UK from February 26-28, 2017. The delegation will accompany Shri Arun Jaitley, Minister of Finance and Corporate Affairs, Govt. of India who is visiting the country to inaugurate the UK-India Year of Culture 2017 that would involve an year-long series of cultural engagements between India and the UK. These engagements are expected to further strengthen the bilateral relations between India and UK, not only in the sphere of cultural connections but also in the realm of trade and investments.
The visit of FICCI delegation to UK with the Minister aims to enhance the trade, investments and economic co-operation between the two countries. FICCI is organising two interactive roundtable meetings during this visit, one in partnership with UK India Business Council (UKIBC) and the other with Confederation of British Industry (CBI).
Several other business engagements are also planned to exchange views on enhancing business linkages between the two countries. A cultural reception will also be hosted on the eve of UK India Year of Culture launch in partnership with the Indian High Commission in the UK and British Council.
Some of the key priority areas identified by FICCI for discussions at these high level platforms include co-operation in manufacturing and advanced technology, collaborations in areas like healthcare, fintech, start-ups and tourism, attracting greater investments from the UK companies to India, and addressing India’s concerns related to movement of professionals to the UK.
There is a huge scope of exchange of ideas and learnings for start-ups in both countries. The Indian Fintech sector that is being increasingly recognised for its role in bringing innovative financial solutions can take valuable lessons from the UK, which is home to one of the most advanced Fintech industries in the world.
Likewise, there is a huge opportunity for UK investors to tap the infrastructure market in India through the National Investment and Infrastructure fund (NIIF), as well as other sub-funds under it. Besides financing of infrastructure, the UK business fraternity can also support India in improving its logistics infrastructure to ensure last mile connectivity and which can give a boost to the tourism industry.
The discussions are also likely to focus on addressing concerns related to free movement of Indian professionals to the UK. There are suggestions that the UK government should consider a low-cost two-year multiple entry visas for Indian Nationals in line with similar arrangement that the UK has with China. There is also a demand to conclude a Social Security Totalisation Agreement between two countries, to avoid duplication of social security contributions for Indian workers in the UK.
Other industry leaders who are a part of FICCI business delegation to the UK include Mr Rashesh Shah, Senior Vice President, FICCI and Chairman & CEO, Edelweiss Group, Mr Malvinder Mohan Singh, Vice President, FICCI and Executive Chairman, Fortis Healthcare Ltd, Dr Jyotsna Suri, Past President, FICCI and CMD, The Lalit Suri Hospitality Group, Mr Rajan Bharti Mittal, Past President, FICCI and Vice Chairman, Bharti Enterprises Ltd, Mr YK Modi, Past President, FICCI and Executive Chairman, Great Eastern Energy Corporation Ltd and Mr Jai Shroff, Global CEO, UPL Group.