“….while the 19th century was Britain’s and the 20th century America’s, the 21st century surely belongs to India”. Telegraph”s writer may have gotten carried away a wee bit there but …you get the picture.
Rmagine brings to Canadian and US readers, a glimpse of what media across Europe has to say about the opportunities in India and India’s growth story. The first part in this effort is this piece, coming from UK’s Telegraph.
“India is on the move and Cameron will bring what appears to be the largest Cabinet delegation in British history, in the hope of catching a ride.” says the Telegraph, referring to Prime Minister David Cameron’s visit to India, a month back. More nuggets from that article:
” As Britain crawls out of its deepest recession since the Second World War with growth barely crossing 1pc, India’s economy is charging ahead at an all-conquering 9pc.”
“In the past year alone, the country’s largest two-wheeler manufacturer, Hero Honda, sold 4.6m motorbikes. Its closest rival, Bajaj, sold more than 800,000 – a 72pc increase on the previous year
“In an interview with The Daily Telegraph last week, India’s commerce minister, Anand Sharma, said India had opened up to foreign investment at a faster rate than either the United States or the European Union and that Britain and India could collaborate on infrastructure projects, power generation, renewable energy, civilian nuclear power, education, science and information technology. Legal and professional services could open up too, if the same rights were granted to Indian firms operating in the UK.”
“The biggest problems are faced by SMEs,” said Dheeraj Hinduja, chairman of Ashok Leyland heavy vehicles, and a scion of the London-based billionaire Hinduja family. The number of these operations are substantial and there are returns of 12pc [to be had] in India.’
“The UK stands to gain substantially from the next stage of growth in India, which needs to be infrastructure-led. When highways and ports expand, India will be able to grow at more than 9pc. The UK Government could encourage its businessmen to invest in Indian infrastructure, give them financial support. That will help Britain take a leadership role, create a benevolent view of the UK’s capabilities. Infrastructure could be a showcase for British engineering and a tremendous growth area for British companies.”
Infrastructure projects, power generation, renewable energy, civilian nuclear power, education, science and information technology, legal and professional services – the same sectors that Britain would like to go after, are the sectors that Canada can stake a claim on. The question is “Are Canadian corporates and SME’s ready to do that?”
To read Telegraph’s article titled “Mission to India: UK stalks sub-continent’s economic tiger. One of the most remarkable trade missions in British history is aiming to secure a slice of India’s growth.” click: http://www.telegraph.co.uk/finance/globalbusiness/7908581/Mission-to-India-UK-stalks-sub-continents-economic-tiger.html
Rmagine 