Karnataka among top 3 Indian states bringing in foreign direct investment into UK

News Network
June 8, 2024

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London: Maharashtra followed by Karnataka and Delhi are the top three states of India bringing in foreign direct investment (FDI) into the UK, according to a new joint report produced by the Confederation of Indian Industry (CII) and the High Commission of India in the UK.

Indian Assets: Charting the Journeys of Indian Companies in the UK, launched in London earlier this week, revealed that companies headquartered in Maharashtra brought in the highest amount of FDI into the UK at 20 per cent in 2023, followed by Karnataka (12 per cent) and Delhi (8.6 per cent).

Completing the top 10 tallies are the states of Gujarat (7.1 per cent), Tamil Nadu (6.7 per cent), Telangana (6.5 per cent), Uttar Pradesh (5.9 per cent), Haryana (4.5 per cent), West Bengal (3.14 per cent) and Kerala (3.05 per cent) -- making up 78 per cent of the total FDI from India into the UK.

“As India and the UK continue to evolve and navigate the complexities of a rapidly changing global landscape, I believe that our businesses reimagining the India-UK corridor will realise our shared vision and aspiration for a secure and sustainable future prosperity,” said  Vikram Doraiswami, the Indian High Commissioner to the UK, who launched the report in London.

The analysis finds the leading sector bringing in FDI from India in terms of the number of companies and employees is IT and software, highlighting the achievements of Indian companies in the UK across sectors such as automotive, electric car batteries, diagnostics and healthcare, and technology.

It also spotlights the positive impact Indian companies can have on heritage British brands and how the value of these legacy brands is retained and protected when acquired by Indian companies.

“Today, Indian companies with operations in the UK have integrated themselves into the British economy, making their mark in industries in almost all leading sectors. Their ability to adapt, innovate, and forge meaningful partnerships has not only propelled their growth but has also enriched the economy of the UK and its regions, promoting job creation, driving investment, and fostering a culture of diversity and inclusion,” said CII Director General Chandrajit Banerjee.

Among some of the other findings of the report, new Indian students cumulatively contributed an estimated GBP 4.3 billion (Rs 45,611 crore) to UK universities against the backdrop of a 5 per cent increase in UK student visas last year.

It also showcases the robust relationship that Indian companies have across different UK regions, with the West Midlands, London and the north-west being the top recipients of Indian FDI in the UK across the fields of automotive, software and IT services and energy.

According to the latest official data from the UK’s Department of Business and Trade, total trade in goods and services (exports plus imports) between the UK and India was GBP 39.0 billion (Rs 4.1 lakh crore) in the four quarters to the end of Q4 2023, an increase of 4.8 per cent or GBP 1.8 billion (Rs 19,093 crore) in current prices from the four quarters to the end of Q4 2022.

India was the UK’s 12th-largest trading partner and the second-largest source market for the UK, bringing in 118 new projects and creating 8,384 jobs.

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News Network
September 17,2024

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As the Modi-led NDA government completes the first 100 days of its third term, the Congress party has launched a scathing attack, dubbing it as the "U-Turn Sarkar" for its failures and policy reversals.

At a press conference in Delhi, Congress spokesperson Supriya Shrinate highlighted what she called "100 days of instability, indecisiveness, and immaturity," accusing the Modi government of damaging critical sectors of the economy and public infrastructure.

Shrinate criticised the government's handling of the economy, which she described as being in "dire straits".

She argued that under Modi's leadership, sectors such as agriculture, youth employment, and infrastructure have been neglected. "These 100 days have been very heavy on the country's economy, farmers, youth, women, infrastructure, railways, and institutions," she said, adding "It has become clear that Narendra Modi has no vision to deal with the country's problems."

She went on to debunk the government's claims of progress in infrastructure development, citing multiple instances of structural failures in key projects.

“The airports inaugurated by Narendra Modi--from Jabalpur to Delhi and Rajkot--could not even withstand a single monsoon,” Shrinate pointed out. She also referenced failures such as:

•    Atal setu: Constructed at a cost of Rs18,000 crore, the bridge developed cracks soon after its inauguration.

•    Sudarshan setu in Gujarat: Opened in February 2024, it also developed cracks within months.

•    Shivaji statue collapse: The iconic statue of Chhatrapati Shivaji Maharaj was destroyed within eight months of being unveiled, an event Shrinate described as an "insult to Shivaji Maharaj."

•    Ram mandir water leakage: The sanctum sanctorum of the Ram Mandir, a symbol of faith for millions, was found to be leaking during the monsoon.

•    "Who will take accountability for these incidents?" Shrinate asked, questioning the government's competency in executing large-scale projects.

•    On railway safety, Shrinate accused the government of overseeing a period marked by frequent accidents and derailments.

•    "There have been 38 railway accidents in 100 days, resulting in 21 deaths," she stated. Despite the public outrage following the tragic Balasore accident, which killed nearly 300 people earlier this year, the Congress spokesperson said that the government has failed to take effective measures to improve rail safety.

•    She criticised the slow implementation of Kavach, an anti-collision device, stating, “The reality is that even after 21 deaths, Kavach is being installed at a pace of 2 km per year, while the Railway Minister shamelessly calls these 'minor' incidents.” Shrinate’s remarks come amidst mounting public concern over the Modi government’s inability to secure rail travel in one of the world’s largest railway networks.

In addition to infrastructure and safety concerns, Shrinate accused the Modi government of making hasty policy decisions, only to later backtrack under public pressure. "If any of your decisions affect the country negatively, it won’t become law because the government will take a U-turn on it," she said. Among the key policy reversals Shrinate cited were:

•    Lateral entry: A controversial policy of hiring private-sector professionals for bureaucratic roles, which was quietly shelved.

•    Broadcast Bill: Withdrawn after fierce opposition, highlighting the government's poor handling of policy legislation.

•    Waqf Board Bill: Another example of the government's failure to gauge the impact of its decisions.

•    NPS to UPS: Indexation policy changes that were hastily reversed after protests from key stakeholders.

"Narendra Modi's first 100 days symbolise not just U-turns, but a government that is fundamentally unsure of its direction," Shrinate remarked.

"In 100 days, 104 heinous crimes have been committed against women, in which there are 157 victims. Women are raped publicly in BJP ruled states but Narendra Modi doesn't say a word on this. But how will you speak, because you are the one who stood with those who sexually exploited the daughters of the country," she added.

The Congress's sharp critique of the Modi government's first 100 days has set the tone for the coming months, as the opposition gears up for a series of state elections and prepares for the 2024 general election.

"The country cannot afford this level of instability, immaturity, and incompetence," Shrinate concluded, calling on citizens to hold the Modi government accountable for what she described as its "endless U-turns and policy failures."

In these 100 days, Congress has made clear that it will focus on highlighting the government’s missteps in the economy, public safety, and governance, presenting itself as a viable alternative in the face of what it calls "a government in retreat."

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News Network
September 12,2024

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The United Nations Relief and Works Agency for Palestine Refugees says six of its employees are among the at least 18 people killed in a recent Israeli aerial assault on a school in the central Gaza Strip.

In a statement released on Thursday, UNRWA said Wednesday’s Israeli airstrikes targeting the UN-run al-Jaouni school in the Nuseirat refugee camp resulted in "the highest death toll among our staff in a single incident” since the occupying regime waged a genocidal war on Gaza more than 11 months ago.

"Among those killed was the manager of the UNRWA shelter and other team members providing assistance to displaced people," it added.

UNRWA also said the al-Jaouni school, home to around 12,000 displaced Palestinians- mainly women and children, has been hit five times since the Israeli aggression began.

“No one is safe in Gaza. No one is spared,” it emphasized. “Schools and other civilian infrastructure must be protected at all times, they are not a target.”

In an X post, UN Secretary General Antonio Guterres said the deaths demonstrated “very dramatic violations of the international humanitarian law and the total absence of an effective protection of civilians.”

Meanwhile, UNRWA chief Philippe Lazzarini said the agency's staff who were killed had been providing support to families sheltering in the al-Jaouni school.

“Humanitarian staff, premises & operations have been blatantly & unabatedly disregarded since the beginning of the war,” he asserted.

Lazzarini further noted that at least 220 UNRWA employees have been killed during the Israeli offensive on Gaza.

The Israeli military claimed that the school had been used by members of the Hamas resistance group to “plan and execute” attacks against the occupation troops.

However, a survivor said the section of the school that was hit by Israel had been “dedicated only to women.”

“All of a sudden there was a huge explosion … Women and children were blown to pieces. We rushed to see our children but found them torn to pieces,” he told Al Jazeera.

Another survivor said she had lost all of her six children in the Israeli attack, adding, “What crime, what wrong did those innocent children do?”

Israel waged its brutal Gaza offensive on October 7, 2023, after Hamas carried out a historic operation against the usurping entity in retaliation for its intensified atrocities against the Palestinian people.

So far, the Tel Aviv regime has killed at least 41,084 Palestinians, mostly women and children, and injured 95,029 others. 

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coastaldigest.com news network
September 16,2024

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Mangaluru, Sept 16: In a heartwarming display of communal unity, members of Hindu and Christian communities celebrated Eid Milad—marking the birth of Prophet Mohammed—by distributing sweets and refreshments to their Muslim neighbors in Dakshina Kannada.

In Boliyar, near Konaje on the outskirts of Mangaluru, members of the local organization Geleyara Balaga surprised participants in the Eid Milad procession with an offering of sweets and cold drinks. 

The gesture of goodwill was led by Manoj, Sheena Poojary, Denis Lily, Sanat, Lokanath, Satish, Praveen, Madhu, and Valentine. Abdul Rahman, the khateeb of Boliyar Juma Masjid, expressed heartfelt gratitude for this act of kindness.

In a similar display of solidarity, a group of Hindus, draped in saffron shawls, distributed sweets and drinks to those partaking in the Eid Milad procession at Mani village, Bantwal taluk.

These acts of generosity highlighted the spirit of harmony and togetherness among different communities, celebrating the true essence of the festival.

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