30 January 2019

  |  CBI India

Update

CBI India Update January 2019

Read all about the CBI’s participation in the CII Partnership Summit and new trends in Indian politics as India enters yet another election year in this month’s India Update.

CBI India Update January 2019

The year 2019 got off to a great start with the CBI participating in the CII’s annual flagship event- the CII Partnership Summit on 12 and 13 January 2019 in Mumbai.

The CBI in partnership with the UKIBC organised a UK member delegation to interact with the Union Commerce Minister Mr Suresh Prabhu and the Maharashtra Industry Minister Mr Subhash Desai with the Summit. Many thanks to our members for supporting the delegation with their presence.

Mr Ben Digby, CBI’s International Director spoke at a panel discussion at one of the plenaries- Reforms and De-regulation – Strategies to Boost Investments, alongside eminent stakeholders, including Mr Ramesh Abhishek, IAS, Secretary, Department of Industrial Policy and Promotion, Mr Adi Godrej, Chair, Godrej Group, Mr Ajit Ranade, Chief Economist, Aditya Birla Group among others. Read more about the Summit.

In Mumbai, we organised a member discussion and lunch co-hosted by Mr Ben Digby, and Mr Crispin Simon, CBE, HM’s Trade Commissioner to South Asia and British Deputy High Commissioner to Western India.

Back in the UK, amidst the politically tumultuous turn of events, read the latest version of the CBI’s Business Voice on the regional impact of Brexit.

2019 is an important general election year in India. We are seeing a new season in Indian politics with the entry of Priyanka Gandhi, sister of main Opposition leader Rahul Gandhi, President, Indian National Congress Party. She has been put in-charge of eastern Uttar Pradesh, India’s state with the largest number of parliamentary seats. Prime Minister Modi won from one of these seats Varanasi in 2014 by a landslide victory. 

Priyanka has campaigned for the Congress earlier but does not have a political career. She is the eleventh member of the Gandhi- Nehru family to have entered politics. She, the Congress hopes will turn the optics in favour of Congress. She is expected to attract the youth and women, being a strong proponent for reservation for women in parliament.  She is expected a steal a large chunk of media attention during election campaigns.

The Government is all set to table its last budget before the general elections on 1 February 2019.

 

Here are other highlights of the month:

Government to draft domestic aircraft manufacturing policy

The union minister for civil aviation Mr Suresh Prabhu has revealed that the government is working on a policy framework for the domestic manufacturing of aircraft and also looking at aircraft financing and maintenance work within the country.

Ministerial panel to hike MSME exemption threshold

A ministerial panel under the GST Council has decided to hike the exemption threshold for Micro, Small and Medium Enterprises (MSMEs) beyond an annual turnover of Rs 20 lakh (£ 21,000).

India to pip UK in economy rankings this year

India is likely to surpass the United Kingdom in the world's largest economy rankings in 2019, according to a report by global consultancy firm PwC.

UK universities to recruit more India and Chinese students

UK Universities are keen to recruit Indian and Chinese student to offset any losses that may occur has a result of a no-deal Brexit.

 

MEMBER NEWSMAKERS

Tesco Bengaluru partners NASSCOM to set up first Community Development Centre

Tesco in India has tied up with the IT industry trade association NASSCOM to set up its first Community Development Centre.

Wipro starts supplying aerospace parts to Boeing

Boeing has contracted with the aerospace division of Wipro to make strut assemblies for its 737 MAX and next-generation 737 airplane programmes.

BAE’s M777 Howitzers displayed at India’s Republic Day

BAE Systems artillery gun was displayed for the first time in India in this year’s Republic Day parade on 26 January 2019.

 

ON THE RADAR

The Confederation of Indian Industry (CII) has prepared a report on ‘Trade Facilitation Reforms in India: Progress & Way Forward, which attempts to provide an update on the reforms, take stock of pending issues and provide suggestions for further and sustained improvement.