Telangana

UKIBC for enhanced business ties with Telangana

Managing director of UK India Business Council Kevin McCole in Hyderabad on Monday.

Managing director of UK India Business Council Kevin McCole in Hyderabad on Monday.   | Photo Credit: N.Ravi Kumar

Telangana among top 10 destinations in India, says head of the business council

The UK India Business Council (UKIBC) is keen on enhancing engagement between investors from the UK and Telangana government.

“We have a plan to get more engagement between UK investors from across India and those not yet in India with the government here to promote the State as investment destination,” UKIBC managing director Kevin McCole said during an interaction here on Monday.

This approach of the Council comes in the backdrop of its latest, 5th Annual, Doing Business in India Report in which Telangana figured at number five among States that made most improvement in the ease of doing business measures in the last five years. Maharashtra, New Delhi, Karnataka, Gujarat and Punjab (jointly with Telangana) figured in the top five.

It was the first time UKIBC had sought views, as part of the report, from UK companies and higher education institutions on how India’s States and Union Territories are performing on the ease of doing business front, he said. The stress on more engagement with the State would also be continuation of the efforts, as part of which Industries and IT Secretary Jayesh Ranjan was in the UK earlier this year.

UKIBC is also keen on a facilitating a delegation from the UK to visit Telangana next year. It also looked forward to a team from the State visiting different industrial clusters in the UK.

For Indian States keen on attracting investments from the UK, the Council sought to recommend a strategy of discussing with the prospective investors, in small groups, the issues they faced and addressing them.

“UK Investors will enter and expand States in India, where they find the State government is determined to make it easier to do business. State governments could demonstrate that by having close dialogues with businesses on the issues they that face and to be seen to be addressing those issues,” McCole said, adding a clutch of small and medium enterprises are gearing up to invest in India.

Advanced manufacturing and specifically aerospace and life sciences sectors, including medical devices, were areas where UK investments could come into India, he said.

The UKIBC also favoured a conducive national policy initiative to facilitate greater cooperation among educational institutions of the two countries. “UK higher education [institutions] are committed to partnering with universities here in India, looking for faculty exchange, collaborative R&D, research partnership, and they really looking forward to awarding degrees in partnership… we are hoping India’s new education policy will open up more of those avenues,” Mr. McCole said.

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Printable version | Feb 19, 2020 5:58:30 AM | https://www.thehindu.com/news/national/telangana/ukibc-for-enhanced-business-ties-with-telangana/article30079495.ece

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