A total of 27 important deals were signed between India and the UK during Prime Minister Narendra Modi’s maiden visit to the country.
Important Deals
1. UK listed OPG Power Ventures plc will add to its existing investment in India by £2.9 billion to a total of £3.4 billion, creating around 100 UK jobs over next few years. The investment will create 4200 MW of new power capacity in India, of which 1000 MW will be solar power and 3200 MW will be thermal and renewable power in Tamil Nadu
2. King’s College Hospital NHS Foundation Trust and Indo UK Healthcare have signed a pact to open King’s College Hospital, Chandigarh, which will lead to the creation of jobs for 2,500 nurses and 500 doctors.
3. Merlin Entertainments plc has announced its first business in India — a Madame Tussauds wax attraction scheduled to open in New Delhi in early 2017. Merlin is also looking to roll out several more of its ‘Midway’ attraction brands such as Sea Life and Legoland Discovery Centres in key cities across India, and expects to invest up to £50 million there over the next ten years
4. Genus ABS will invest £1 million in India, providing latest dairy genetics and constructing a state-of-the-art facility near Pune
5. Solar PV generator in the UK and Europe, Lightsource, has announced a £2 billion investment in India. It will design, install and manage around 3 gigawatts of solar power infrastructure in India over the next 5 years
6. The UK’s Kloudpad Mobility Research Ltd has announced a £100 million investment in South India to ‘Make in India’ the next generation of smart watches, wearables and tablets, creating 2,500 skilled jobs in India and supporting 50 highly skilled researchers in the UK
7. Vodafone has announced a range of further investments in India totalling £1.3 billion (Rs 13,000 crore) to support the Government of India’s ‘Digital India’ and ‘Make in India’ campaigns
8. Representatives of the UK’s insurance industry with JVs in India have announced a number of agreements to increase their FDI in the country. For example, should their applications for regulatory approval be granted, Standard Life, Bupa and Aviva have committed to invest a combined total of £238 million of FDI in their Indian joint ventures
9. E-commerce cloud platform provider, cloudBuy, is signing a contract with the Confederation of Indian Industry (CII) for an online business to business marketplace
10. UK technology company Intelligent Energy recently signed an agreement to acquire the energy management business of Indian firm GTL. It will provide clean energy to 27,400 telecoms towers in India, with a contract value of £1.2 billion over ten years
11. Holland & Barrett International has partnered with Apollo Hospitals in a deal worth £20 million. The partnership will open 1,000 Holland & Barrett outlets in India over the next 5 years. The first store will open in New Delhi in January 2016
12. Indiabulls Housing Finance Limited has invested £66 million into OakNorth Bank Limited, a recently authorised bank providing lending to UK entrepreneurs and small business owners
13. SSPSL, a subsidiary of India’s Strides Shasun will announce an £8 million investment in its England based facility
14. Advatech Health Care will invest £5 million in the UK and introduce ‘disruptive’ IT technology to ambulances
15. TVS is opening £20 million advanced logistics facility in Barnsley generating 100 new jobs, growing to 500 over 5 years, in addition to 50 jobs being created through market growth
16. Indian learning solutions provider Dexler is setting up Dexler Education UK with investments of around £10 million
17. London Stock Exchange Group and Yes Bank are signing an MoU to foster collaborations on bond and equity issuance, with a focus on Green Infrastructure Finance
18. HDFC will issue rupee denominated bonds overseas up to $750 million under the RBI guidelines, in one or more tranches. It will list the initial issue of bonds for trading on the London Stock Exchange
19. Bharti Airtel intends issuing its maiden sterling bond of up to £500 million to be listed on the London Stock Exchange
20. State Bank of India and London Stock Exchange Group to collaborate to create the ‘FTSE-SBI India Bonds Indices’ which will be used initially by a new investment fund run by SBI
21. The offshore arm of the UK’s Equiniti Group, Equiniti India announced its expansion plan in Chennai that will create 500 new jobs by end of 2017
22. Zyfin and Sun Global will be listing the world’s first India fixed income ETF on the London Stock Exchange
23. SBI UK will open two branches in Hounslow and Ilford and expand of its Manchester and Leicester branches
24. Wipro has increased its investment in the UK with the opening of its newest office for Wipro Digital
25. TCS, with British Council, will provide opportunities for 1,000 graduate interns from British universities to train and work in India over the next five years
26. HSBC has announced the launch of its ‘Skills for Life’ initiative in India, a programme to skill 75,000 disadvantaged young people and women over five years
27. MoU between the two countries on tech cooperation in the rail sector
