Skip to content
Search

Latest Stories

UK Opts Not To Participate In Vibrant Gujarat Summit 2019

The UK has stepped away from the list of partner countries at the ninth edition of the Vibrant Gujarat Summit (VGS), a biennial investors' summit organised by Gujarat state government in India’s western state Gujarat, according to the media reports.

According to a report published by Indian daily, Daily News Analysis (DNA), the Gujarat state government hasn’t yet received any confirmation from the UK, instead they conveyed that they would not participate in the event as a partner country.


Gujarat state chief secretary Dr JN Singh who confirmed the latest move by the UK said that Britain is not participating in the event as a partner country and there is confirmation received from the concerned on the latest move.

"The United Kingdom was approached a couple of times by both the External Affairs Ministry of the Government of India and the Gujarat government separately for their confirmation, but their response was in negative. This could be because of the impending financial crisis after Brexit. However, we have not been informed about the reason for their refusal to become a partner country in the VGS again," DNA quoted a senior official in the Gujarat state government as saying on the condition of anonymity.

The UK is the second major country which stepped away from the team of partner countries after the US scaled down its presence at the ninth edition of Vibrant Gujarat earlier.

Meanwhile, Canada, Czech Republic, Denmark, France, Japan, the Netherlands, South Korea, Thailand, the UAE and Uzbekistan will be partner countries at VGS 2019. Besides these list of countries, Australia and Poland have also confirmed that they would be partner countries in the mega event.

The state government is still on its efforts to attract more countries such as Africa to the event organised.

More For You

Nykaa beauty demand

The retailer has expanded overseas operations to compete with global cosmetics giants.

Getty Images

Nykaa profit jumps on strong beauty demand

Highlights

  • Quarterly profit surged to 344.4 m rupees from 100.4 m rupees year-on-year.
  • Revenue grew 25 per cent to 23.56 bn rupees on premium brand partnerships.
  • Company expands internationally with Kay Beauty launching in UK stores.
Indian beauty retailer Nykaa has posted a more than three-fold increase in quarterly profit, driven by steady demand for makeup and skincare products and strategic partnerships with global brands.

FSN E-Commerce Ventures, which operates the Nykaa platform, reported a profit of 344.4 million rupees (£3.9 m) for the quarter ended 30 September, up from 100.4 m rupees a year earlier.

Keep ReadingShow less