India and the UK on 12 November 2015 announced commercial deals worth 9 billion pounds in London.
The deals took place between the companies operating from both the countries and were agreed upon during the Prime Minister Narendra Modi’s visit to the UK.
Details of Commercial Deals
Creative and retail
• Merlin Entertainments: It will open the first Madame Tussauds in the sub-continent. It will be set up in New Delhi in 2017. Further, it will invest up to 50 million pounds over 10 years to open more of company’s iconic brands that include Discovery Centre and Sea Life Aquarium.
• Apollo Hospitals: It partnered with Holland & Barrett International to open 1000 Holland & Barrett outlets in India over the next 5 years. The first store will open in New Delhi in January 2016 with 115 outlets open at the end of the year.
• Genus ABS will invest 1 million pounds in India providing the latest dairy genetics and constructing a state-of-the-art facility near Pune in Maharashtra.
TVS is opening a 20 million pounds advanced logistics facility in Barnsley (the UK) generating 100 new jobs, growing to 500 across the TVS Group over 5 years. As part of Team Leidos, the company is integral to delivering 500 million pounds worth of procurement savings to the UK Ministry of Defence over 13 years.
Finance and professional services
• HDFC, India’s largest housing finance company, has announced the proposal to issue rupee denominated bonds overseas of up to 490 million pounds.
• Bharti Airtel Ltd announced that it intends to issue its maiden sterling bond of up to 500 million pounds to be listed on the London Stock Exchange.
• Major UK-based insurance companies like Standard Life, Bupa and Aviva have committed to invest a combined total of approximately 238 million pounds worth of FDI in their Indian joint ventures.
• London Stock Exchange Group and Yes Bank will sign a MoU to foster the development around bond and equity issuance, with a strong focus on green infrastructure finance. As part of this MoU, the bank is expected to list a green bond of up to 330 million pounds through Medium Term Notes by December 2016.
• State Bank of India (SBI) and London Stock Exchange Group have announced a collaboration to create the FTSE-SBI India Bonds Indices to be used initially by a new investment fund run by SBI. These indices, to be launched in the first half of 2016, will facilitate investment into India’s bond markets and support market liquidity and pricing.
• Zyfin and Sun Global announced that they would be listing the world’s first India fixed income exchange traded fund (ETF) on the London Stock Exchange. This ETF will give international investors access to the Indian fixed income market, which is worth 1.3 trillion dollars and is a vital source of finance for the infrastructure sector.
• A new MoU on technical co-operation in the rail sector was agreed which will boost potential business opportunities for the rail industry. Further, India announced its intention to launch the first government-backed rupee bond (Railway Rupee Bond) in London to fund railway infrastructure development.
• Lightsource Renewable Energy Holdings has announced a 2 billion pounds investment in India. They will design, install and manage around 3 gigawatts of solar power infrastructure in India over the next 5 years.
• UK technology company Intelligent Energy is now facilitating an initial order of over 10000 hydrogen fuel cells, worth over 128 million pounds.
• UK-listed OPG Power Ventures plc will invest 2.9 billion pounds in India to create 4200 MW of new power capacity in India, of which 1000 MW will be solar power and 3200 MW will be thermal and renewable power in Tamil Nadu.
IT and cyber
• Kloudpad Mobility Research will invest 100 million pounds produce the next generation of smart watches, wearables and tablets in South India.
• Vodafone has announced investments in India totaling 1.3 billion pounds of which 100 million pounds will be used to create a payment bank focused on serving the unbanked and under banked and to accelerate India’s journey towards a cashless economy.
• E-commerce cloud platform provider, CloudBuy, will sign a contract with the Confederation of Indian industry (CII) for an online business to business marketplace. Over the next 5 years the platform is projected to facilitate transactions worth 3.5 billion pounds.
King’s College Hospital NHS Foundation Trust and Indo UK Healthcare Pvt Ltd will open King’s College Hospital in Chandigarh. This is the first of a proposed 11 new Indo-UK institutes for health that will be developed across India, which, when fully implemented, would amount to a 1 billion pound investment into India’s healthcare system.
• A partnership between the British Council and TCS will see the global IT services firm provide opportunities for 1000 graduate interns from British universities to train and work in India between 2016 and 2020.
• HSBC announced the launch of its Skills for Life initiative in India, a programme to skill 75,000 disadvantaged young people and women over 5 years.
• Indian integrated learning solutions provider Dexler will set up Dexler Education UK, its European headquarters, with an investment of around 10 million pounds to augment corporate training, higher education and individual learning.
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Who: India & the UK
When: 12 November 2015