By Japan K Pathak, Ahmedabad: Britain will be a partner country in the Vibrant Gujarat Global Summit scheduled to take place in the January next year.

Making this announcement here Sir Dominic Asquith KCMG, British High Commissioner in India(New Delhi) today on the second and the last day of his maiden visit to Gujarat said, “we are the only country that has mission here(in Ahmedabad Gujarat) and we are proud of that.

He said Britain will be having very large delegation of business to Vibrant Gujarat Summit in January. The plan is about roughly 100 people participating in the Vibrant Gujarat Summit from Britain with two specific delegations – one on life sciences and one on chemicals.

He said currently Britain’s focus areas are chemicals,life sciences, pharma and energy. Pharma knowledge transfer from UK to India looking at large number of pharma companies in Gujarat is on card.

As many as 30 to 40 companies will be participating in the summit from these sectors while remaining 60 will be High Commissioner guests and people representing other sectors.

On his two-day visit to Gujarat during which he also met representatives of pharma companies in Gujarat, the British High Commissioner said, “big pharma companies here have shown interest in Britain. I wa struck by confidence and enthusiasm they showed. I will be leaving Gujarat on happy and optimistic note. The way companies are looking at Britain and recognizing the skills available there, easiness to move their money, low corporate tax in order to cater British market, Indian market and even third market.

The High Commissioner was hopeful about activities between British and Indian companies in GIFT city of Gujarat in next 3 years period.

He said Britain was there at Vibrant Summit in 2013 and 2015 and this time in 2017. He pointed out that Gujarat has entrepreneurial and business minded lot.

“Why did we set up diplomatic office here, because it is the state we want to be actor in,” the High Commissioner said.

He welcomed increased focus on Business to Business event in upcoming Vibrant Gujarat summit “as it appears looking at the time-table”.

He said, “this time we see it’s different. Business is in focus rather than presenting enormous MoU signing ceremony, photograph and so on.”

Upcoming India – England test match to be played at Rajkot in Gujarat in the month of November was mentioned during the interaction with media by British High Commissioner.

In reply to a question on Indian visitors to Britain, the High Commissioner said number of Indian travelers, students and business visitors to Britain has gone up. The rate of successful applicants from India is high little bit above global average. The market is speaking. Lot of people are coming. They are very welcome.

In reply to a question on BREXIT development and its impacts, the High Commissioner opined that BREXIT will not happen at least for two years. When that does India and Britain will have two years of discussions. BREXIT is at least two years away and both countries are very confident that impact will be beneficial to both because there are already very established trading and business relations. UK is the largest G20 investor in India. Couple of days ago, India has been the third largest investor in the UK. India invest more in UK than in whole of European Union. The largest manufacturer and employer in manufacturing sector in UK is Indian company. There’s real and solid shared interest in the economic success of both countries. Even now a level of trade that UK has with the EU is just 40% while 60% is with the rest of the world. The message during National Trade Secretary’s last visit to India was very clear that it is not just about attracting Indian investors to UK but continuing to support British companies who want to invest in India. One in every twenty Indians working in organized economy works in British company. We can never underestimate the level of interest or active engagement. I have no doubt in my mind that it will strengthen further.

The High Commissioner in this reference also pointed out: “You look at the very ambitious infrastructure plans that the Indian government has and the amount of financing that would be required. One of the most important places from where you would source finance will be the city of London. In last few months, one and quarter billion dollars worth of bonds are issued from the London market to India. In every case if you were to subtract the taxes, it would be cheaper than if it is raised in India.”

DeshGujarat