How India will be benefited from Modi’s UK visit : Make in India

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Modi has completed his 3 days UK visit. The joint statements between the two prime ministers included mainly cooperation in the defense sector and as well as UK’s assistance to make clean energy more affordable and accessible for the 1.25 billion people of India. Apart from the above, cooperation between India and UK in science, technology and education sector was also a key point of discussion.

Following are the other key deals those were discussed during the visit

  1. Britain’s OPG Power Ventures will invest $4.4-billion to build a capacity to generate 4,200 MW in Tamil Nadu over the next few years. This will certainly able to solve the rising power crisis to some extent.
  2. Vodafone, world’s 2nd-largest mobile telecommunications company is to invest $1.4 billion to boost the Government of India’s “Digital India” and “Make in India” initiatives.
  3. Madame Tussauds wax museum will be opened in New Delhi by early-2017 and Merlin Entertainments PLC has taken the responsibility. Madame Tussauds wax museum London along with its branches in various cities attracts a lot of visitors every year. Needless to say the when it will be opened in Delhi, surely will be a foremost tourist attraction.
  4. Lightsource, a leading solar energy company is going to invest more than $3 billion in India in partnerships with several Indian companies led by Srei Infrastructure. They are planning to design, install and manage around 3 GW of solar power infrastructure in India over the next five years.
  5. Intelligent Energy has agreed to sign a contract of $1.8 billion to provide clean energy for 27,400 telecoms towers of GTL. Intelligent Energy is a British power technology company that specialises in the development of Proton Exchange Membrane (PEM) fuel cells for application in the automotive, consumer electronics and stationary power markets.
  6. Holland and Barrett International which is a chain of health food shops will pact with Apollo to open 1,000 stores in India over the next five years.
  7. Kloudpad Mobility Research will investment in South India to make next generation smart watches, wearables and tablets. Kloudpad Mobility Research is one of UK’s top 16 digital early stage technology development companies with operations in India. This will surely boost the Make in India initiative.
  8. Pact between cloudBuy, which is an e-procurement company specialising in spend analysis and company formation, for facilitating $5,3 billion worth of transactions using an online marketplace
  9. Standard Life, Bupa and Aviva to invest a combined total of $365 million in their Indian joint ventures.
  10. London Stock Exchange and Yes Bank pact for collaborations on bond and equity issuance, with focus on green infrastructure.
  11. The two prime ministers also announced three UK-India city partnerships with Indore, Pune and Amaravati to support India’s ambitious urban development goals through technical assistance, expertise sharing and business engagement. Mr Cameron has also mentioned in his Wembley Stadium speech that his country is ready to offer assistance in India’s 100 smart cities project.
  12. They also launched a new Thames-Ganga partnership for healthy river systems. This partnership will consist of a collaborative programme of research and innovation to enable the sustainable management of water resources in the Ganga basiny development companies with operations in India.

Data source: pmindia.gov.in

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