Access India event helps to facilitate bilateral investment
Published: 19 June, 2018
Set alongside a backdrop of the Commonwealth Heads of Government Meeting in London, UK, The Access India event as part of the Make in India initiative gave British small and medium enterprises (SMEs) the opportunity to meet with large manufacturing businesses and government representatives, to facilitate bilateral investment and help SMEs to set up Indian manufacturing operations.
The Make in India initiative was launched by Prime Minister Narendra Modi in September 2014 to strengthen the Indian design and manufacturing industries. The Access India Programme (AIP) is a newly launched scheme, specifically aimed at innovative SMEs in the UK, which forms part of the Make in India Initiative. Led by India’s Department of Industrial Policy and Promotion (DIPP), the programme is run in conjunction with the Indian High Commission in London and the UK India Business Council (UKIBC).
The first event, hosted at Buckingham Gate, was attended by Mr Ramesh Abhishek, Secretary of the DIPP, who was introduced to major UK investors in India and SMEs on the AIP. Companies in attendance included Renishaw, BAE Systems, Rolls Royce, JCB, Perkins Engines and TVS Supply Chain Solutions.
At the event, Renishaw presented Mr Ramesh Abhishek with a stainless steel, 3D printed Make in India logo to commemorate the day and showcase Renishaw’s Additive Manufacturing Solutions Centre in Pune, India. As part of his role, Rhydian Pountney, managing director of Renishaw UK Sales Limited, acts as a mentor for the first 24 SMEs selected for the AIP programme, offering support and advice on how to set up operations in India. “Trade between India and the UK is on the rise”, explained Pountney: “Leading this trend are large, multinational companies. To facilitate stronger trade links and increased UK investment in India, the AIP encourages SMEs to learn from the successes of multinationals with a long-standing, established presence in India.
“This allows UK SMEs to access the benefits of opening facilities in India.” He continued: “India offers a strong technical skill base, one of the fastest growing economies and a good location to export to the rest of Asia and beyond.”