Alok Sharma visits India to expand trade opportunities

Chancellor Philip Hammond has warned that Brexit would cast a “shadow” over the world economy, but said the UK was eyeing exciting opportunities opening up with “India, China and Australia”, among other countries. Speaking on the sidelines of the G20 meeting of leading world economies in Chengdu, China, Hammond said the vote to leave the […]

Barclays survey: India leads the way in new digital age

Workers in emerging countries such as India and Brazil are more confident about digital skills than those in developed markets, a survey has found. Research carried out by Barclays also showed that while 38 per cent of British workers said their employer offered training in digital skills, that figure is considerably higher in India (67 […]

Kia Motors ‘will pick first India plant site next month’

South Korea’s Kia Motors Corp is expected to pick a site next month for its first factory in India, stepping up plans to start making cars in one of the world’s fast-growing auto markets, sources familiar with the matter said. The move would enable Kia to leverage the existing supplier base of its affiliate Hyundai […]

How millions from the Bangladesh Bank heist disappeared

When the Federal Reserve Bank of New York cleared five transactions made by the Bangladesh Bank hackers, the money went in two directions. On Thursday, February 4, the Fed’s system sent $20 million (£15m) to Sri Lanka and $81m (£61m) to the Philippines. The Sri Lankan transaction contained a small but crucial error: The money […]

Vijay Mallya refutes diversion of funds allegations

BELEAGUERED Indian businessman Vijay Mallya has insisted all his transactions at United Spirits Limited (USL) were “legal and above board” after the company disclosed in a stock exchange filing that company funds were diverted. Mallya has been living in the UK for the past four months while authorities in India seek his arrest as several […]

CII pushes for India-UK free trade deal

An “India-UK Free Trade Agreement” is the best way to get around the problems caused by Brexit, it was suggested last week by the Confederation of Indian Industry (CII). The CII sends a senior delegation, consisting of heavyweight captains of industry, to London every summer to hold a summit and review the bilateral relationship. This […]

Tata Steel mulls ThyssenKrupp tie-up

German conglomerate ThyssenKrupp on Saturday (July 9) defended merger talks with Indian rival Tata Steel saying the consolidation of the sector in Europe was necessary due to the “difficult economic situation”. The Indian firm said the previous day it was in talks with its German competitor and other unnamed groups to create a large European […]

UK launches bilateral trade talks for post-Brexit deal with India

BRITAIN said it would start preliminary talks with India today about an eventual bilateral trade deal after last month’s referendum vote to leave the European Union, which has forced London to rethink its trade ties with the rest of the world. Business secretary Sajid Javid also said Britain would have as many as 300 trade […]

India’s Modi in South Africa for talks with Zuma, trade summit

INDIA’S Prime Minister Narendra Modi met South Africa’s President Jacob Zuma today to discuss boosting investment and trade, in a continent where India is playing catch-up to China. Modi in October hosted the leaders of 54 African nations, including Zuma, in the biggest India-Africa summit, promising $10 billion in credit to back a “partnership of […]

‘London’s still open to talent’

BRITISH Indian millionaire Rajesh Agarwal, named as London mayor Sadiq Khan’s deputy for business, said the city’s “openness to talent and enterprise must not change as a result of the referendum”. Agarwal, 39, grew up in India and left for London where he set up foreign exchange giant RationalFX, which had a turnover of over […]

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