DEPARTURES
INDIA FOCUS ON...
With a population of 1.2 billion, the world’s second- fastest growing economy and its largest democracy, India has become an Asian superpower over the past few years, writes Colin Ellson
A member of the dynamic BRICS group of nations (or BRICSA as it’s become known with the addition of South Africa), India has undergone an agricultural revolution that transformed the country from dependence on grain imports to a net exporter of the food. Life expectancy has doubled, health conditions improved and a sizeable middle class eager for consumer goods has evolved. In the business world, the subcontinent
now has globally recognised companies in pharmaceuticals, steel, information and space technologies, telecoms and automotive engineering. Meanwhile, India’s overseas investment continues to grow: over 600 companies have interests in the UK, with iconic brands acquired including Typhoo, Jaguar Land Rover and fashion retailer East. On the downside, the Indian economy is
suffering its worst slowdown since the 1980s, domestic investment is badly needed to create jobs and housing, to alleviate poverty and reduce inequality, and to improve the infrastructure: some 300 million people are not connected to the national electricity grid. Such were the issues when the electorate
went to the polls in April and May. The result was the biggest Indian takeaway since the country gained independence from British rule in 1947. Out went the ruling Congress party, led by its vice-president Rahul Gandhi, scion of the dynasty which has dominated Indian politics; in came Narendra Modi,
the
controversial Hindu nationalist leader of the opposition Bharatiya Janata Party (BJP), in the process recording a landslide victory. His first priority will be to press for economic
and social reform, “delivering less government and more governance”, followed by attracting investment and building infrastructure. He is also pro-business and aware of the strength of the UK-India relationship and its shared values. In this respect, hardly had Modi accepted
office than Prime Minister David Cameron was on the phone inviting him to visit the UK. The offer was accepted, both leaders agreeing to work together to strengthen ties between the two countries. Here, Britain has several advantages in
boosting trade with India, its 13th-largest trading partner, but with our share of exports standing at just 3.5 per cent. There is growing consumer demand for British goods and services. The country’s industries are those in which the UK excels, providing companies with opportunities across the Indian market, and local firms are keen to increase investment overseas, with Britain the preferred European partner for doing so. All of which means this is the right time to
explore the potential on the subcontinent, with all the destinations in our profile reached by direct flights from the UK. Where services are limited to a single airline, the alternative is to fly from the continent or via the Gulf, whose carriers offer a wealth of services to India. Currying favour in India under its new leadership could prove to be your company’s smartest move this year.
Lotus Temple at sunset, New Delhi
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THE BUSINESS TRAVEL MAGAZINE 65
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