Karnataka among top 3 Indian states bringing in foreign direct investment into UK

News Network
June 8, 2024

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London: Maharashtra followed by Karnataka and Delhi are the top three states of India bringing in foreign direct investment (FDI) into the UK, according to a new joint report produced by the Confederation of Indian Industry (CII) and the High Commission of India in the UK.

Indian Assets: Charting the Journeys of Indian Companies in the UK, launched in London earlier this week, revealed that companies headquartered in Maharashtra brought in the highest amount of FDI into the UK at 20 per cent in 2023, followed by Karnataka (12 per cent) and Delhi (8.6 per cent).

Completing the top 10 tallies are the states of Gujarat (7.1 per cent), Tamil Nadu (6.7 per cent), Telangana (6.5 per cent), Uttar Pradesh (5.9 per cent), Haryana (4.5 per cent), West Bengal (3.14 per cent) and Kerala (3.05 per cent) -- making up 78 per cent of the total FDI from India into the UK.

“As India and the UK continue to evolve and navigate the complexities of a rapidly changing global landscape, I believe that our businesses reimagining the India-UK corridor will realise our shared vision and aspiration for a secure and sustainable future prosperity,” said  Vikram Doraiswami, the Indian High Commissioner to the UK, who launched the report in London.

The analysis finds the leading sector bringing in FDI from India in terms of the number of companies and employees is IT and software, highlighting the achievements of Indian companies in the UK across sectors such as automotive, electric car batteries, diagnostics and healthcare, and technology.

It also spotlights the positive impact Indian companies can have on heritage British brands and how the value of these legacy brands is retained and protected when acquired by Indian companies.

“Today, Indian companies with operations in the UK have integrated themselves into the British economy, making their mark in industries in almost all leading sectors. Their ability to adapt, innovate, and forge meaningful partnerships has not only propelled their growth but has also enriched the economy of the UK and its regions, promoting job creation, driving investment, and fostering a culture of diversity and inclusion,” said CII Director General Chandrajit Banerjee.

Among some of the other findings of the report, new Indian students cumulatively contributed an estimated GBP 4.3 billion (Rs 45,611 crore) to UK universities against the backdrop of a 5 per cent increase in UK student visas last year.

It also showcases the robust relationship that Indian companies have across different UK regions, with the West Midlands, London and the north-west being the top recipients of Indian FDI in the UK across the fields of automotive, software and IT services and energy.

According to the latest official data from the UK’s Department of Business and Trade, total trade in goods and services (exports plus imports) between the UK and India was GBP 39.0 billion (Rs 4.1 lakh crore) in the four quarters to the end of Q4 2023, an increase of 4.8 per cent or GBP 1.8 billion (Rs 19,093 crore) in current prices from the four quarters to the end of Q4 2022.

India was the UK’s 12th-largest trading partner and the second-largest source market for the UK, bringing in 118 new projects and creating 8,384 jobs.

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News Network
June 9,2024

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Maharashtra Deputy CM and NCP chief Ajit Pawar on Sunday informed that the BJP had offered a Ministry of State portfolio with independent charge to Praful Patel. He said Patel has served as a cabinet minister in the central government and "we did not feel right in taking the Minister of State with independent charge". So we told them (BJP) that we are ready to wait for a few days, but we want a cabinet ministry. We are going to attend the swearing-in ceremony today..."

Pawar said, "We have one Lok Sabha and one Rajya Sabha MP today, but in the next 2-3 months we will have a total of 3 members in the Rajya Sabha and our number of MPs in Parliament will be 4. So we said we should be given one (cabinet ministry) seat."

Praful Patel said that last night, he was informed that his party would get a Minister of State with independent charge. "I was earlier a Cabinet Minister in the Union Government, so this will be a demotion for me. We have informed the BJP leadership and they have already told us to just wait for a few days, they will take remedial measures."

The NCP contested 4 seats in Maharashtra but could win only 1. NCP's other two allies in the state Sena and BJP bagged 7 and 9 seats respectively. 

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News Network
June 5,2024

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Amina Arif Kadiwala of Mumbai earned the prestigious All India Rank 1 in the National Eligibility-cum-Entrance Test (NEET) UG 2024, with a perfect score of 720/720, outshining over 25 lakh other students. 

Determined to study MBBS, Kadiwala outshone over 25 lakh students in India to secure an inspiring score. After completing her education in Urdu till Class 10, Kadiwala learned English after she got admitted to SVKM's Mithibai College for her further studies. While grasping a new language was initially a challenge, she worked hard and even aced the highly competitive NEET exam. 

Resident of Jogeswari and daughter of a bakery worker, Amina Arif had scored 93.20% in class 10 from Madni high school, Jogeshwari, and 95% in class 12 from Mithibai College, Vile Parle.

Expressing joy at her achievement, Amina Arif Kadiwala said, "I am overwhelmed and so happy. My hard work has been rewarded." The Mumbai girl also opened up about the challenges that she faced while preparing for the exam. "I was very slow and couldn't complete my earlier exams on time," she told the outlet.

However, her months of dedication, hard work, and self-confidence helped her ace the exam. Kadiwala was formerly a student of the Urdu-medium institution Madni High School and took up coaching at a private academy, the Excellent Master's Academy. The school and institute principals expressed excitement and pride for Kadiwala.

"It's heartening to see how Amina received support from her teachers at the academy and her school, Madni High School, including the encouragement from her principal, Aamir Ansari. Their testimonials highlight Amina's sincerity, diligence, and passion for learning, which undoubtedly contributed to her success," one of her mentors said.

Kadiwala said that she wishes to study at the prestigious All India Institute of Medical Sciences in Delhi. As the top NEET candidate, she has been receiving laurels and praise from across the country, with many looking upon her as a role model. She is being hailed as an inspiration and the future of women in India's educational landscape.

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News Network
June 4,2024

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New Delhi: From 'pappu' to 'shehzade', Congress leader Rahul Gandhi has been the prime target of BJP's ridicule for years. Jabs at the Gandhi family have been the BJP leader's main line of attack at the main Opposition Congress in every election over the past decade. But as Congress inches towards a 100-seat tally in this Lok Sabha election -- its best show in a decade -- and the INDIA bloc's tally defies all exit polls, the Gandhi siblings have played a central role.

Mr Gandhi virtually launched his campaign with a Bharat Jodo Yatra across the length and breadth of the country. While the actual impact of the yatra in terms of Lok Sabha seats won is a subject of data and debate, there is no doubt that his public interactions on the trail brought him out of television screens to the people and contributed to shattering the perception the BJP had created of him.

Visuals of Mr Gandhi petting puppies, hugging people and chatting with people from every section of the society, from students to truck drivers to mechanics, showed a side of him the country had not seen before.

As for Priyanka Gandhi, many had expected her to contest the polls this time, and questions were raised when she did not. In her response, Ms Gandhi Vadra has said in several interviews that it was a conscious decision. If both she and Rahul contested the election, they would get tied up with campaigning in one constituency, she had said, adding that the plan was to keep her free for rallies. The move clearly seems to have paid off.

As Mr Gandhi travelled across the country to address rallies of the INDIA bloc, Ms Gandhi Vadra also took up the task of leading the Congress's campaign in family strongholds Amethi and Raebareli. Nine hours into the counting, the party seems set for a win in both seats, including Amethi, where Gandhi family loyalist Kishori Lal Sharma has emerged a giant slayer by defeating Union Minister Smriti Irani -- a sweet revenge for Rahul Gandhi's 2019 defeat.

In these seats, Ms Gandhi Vadra was as much the party's face as its brain. From addressing nukkad sabhas to planning the party's moves, she led the campaign in these prestige battles from scratch.

The 2024 election also saw her emergence as an orator who charms the audience and also connects with them. Her counterstrike to Prime Minister Narendra Modi's charge that the Congress plans to bring a wealth distribution plan and would take away "mangalsutra" had made national headlines.

"He says the Congress wants to take away your gold, your mangalsutra. The country has been independent for 70 years. The Congress ruled for 55 years. Has anyone robbed you of your gold or your mangalsutra? When the war was on, Indira Gandhi gave her gold to the country. My mother's mangalsutra was sacrificed for this country," she had said.

According to a PTI report, the Congress leader was attending a party meeting in Amethi when she told the audience that there was a woman among them who wanted to educate her daughter, but her father-in-law was against it. So, the woman stitched sari falls to save money and ensured that her daughter became a graduate. She then invited the woman to stage as the audience cheered.

Such interactions smashed the image the BJP had created for the Gandhi siblings and the ruling party's "royal family" jabs lost their sheen.

Also significant is the fact that the Congress this time contested just 328 seats out of 543 -- its lowest ever, leaving the remaining 215 seats for INDIA allies. Known to bargain hard for seats and then failing to convert them into wins, this was a big climbdown by the Mallikarjun Kharge-led party. And the move seems to have paid off.

The Congress may still finish with half the seats as compared to the BJP, but the Gandhi siblings shine in its stellar show. And at the Congress press meet this evening, Mr Gandhi underlined sister Priyanka's contribution in the party's performance.

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