The Confederation of Indian Industry hosted its Annual Conference on India-UK Economic Relations – Beyond Brexit, on Wednesday 28th June 2017, supported by UKIBC. Manchester was as a Regional Partner for the conference represented by MIDAS, it’s development agency, and the city presented its emblem of the worker bee to the President of CII, Ms Shobana Kamineni and CII Director, Mr Chandrajit Banerjee, at the event. Conference attendees included the CII CEOs delegation, members of the Indian diaspora and British business community with keynote speaker being Mark Field, MP, the Minister for State at the Foreign and Commonwealth Office.
The last one year has seen significant changes in the Indian and the UK economy. The UK sealed its decision to leave the European Union with a Parliamentary go-ahead, promising to “Build a Stronger Britain” and calling a snap General Election. Meanwhile, India, in a concerted effort to enhance ease of doing business and weed out corruption, launched a war on black money, demonetising 86% of its currency in a single stroke. No mean feat for growth projections for the Indian economy, still holding steady at 7%.
Prime Minister Theresa May made India her first bilateral visit outside the European Union and envisioned with Prime Minister Modi closer business cooperation between the two knowledge economies for a future designed by technology. Over £10 billion in promised commercial deals now mark the last two official state visits, where UK companies responded to “Make in India” and Indian companies increased their business footprint in the UK.
While the bilateral relationship between India and UK is cordial and steady, there exists significant potential for both the nations to further strengthen the economic ties by effectively leveraging the advantages on offer, especially in a post-Brexit scenario. The CII theme for 2017-18, India Together: Inclusive. Ahead. Responsible emphasizes industry’s role in partnering with Government to accelerate India’s growth and development. The focus is on key enablers such as job creation; skill development and training; affirmative action; women parity; new models of development; sustainability; corporate social responsibility, governance and transparency.
About The Confederation of Indian Industry
The Confederation of Indian Industry (CII) works to create and sustain an environment conducive to the development of India, partnering industry, Government, and civil society, through advisory and consultative processes. CII is a non-government, not-for-profit, industry-led and industry-managed organization, playing a proactive role in India’s development process. Founded in 1895, India’s premier business association has over 8,300 members, from the private as well as public sectors, including SMEs and MNCs, and an indirect membership of over 200,000 enterprises from around 250 national and regional sectoral industry bodies. With 66 offices, including 9 Centres of Excellence, in India, and 10 overseas offices in Australia, Bahrain, China, Egypt, France, Germany, Singapore, South Africa, UK, and USA, as well as institutional partnerships with 344 counterpart organizations in 129 countries, CII serves as a reference point for Indian industry and the international business community.
For further information visit http://www.cii.in/