UK offers liberal visa scheme for Indian businessmen

November 7, 2016

New Delhi, Nov 7: Eyeing India as a key trade partner after exiting from the European Union, the UK today announced a first-ever easier visa regime for Indian businessmen that will come with swifter passage through British airports and access to EU.

UKvisa

India had in past also sought easier visa regime for its nationals and Prime Minister Narendra Modi today asked his counterpart Theresa May to provide "greater mobility" for its students and researchers.

Speaking at the India-UK Tech Summit, May said: "So we will offer, for the first time to any country that needs visas to enter Britain, what we called 'Registered Traveller Scheme'.

"That means the Indian nationals who frequently come to the UK and to fuel growth in both our countries, the entry process will become significantly easier," she said at the event organised by CII that was also attended by Modi.

She said the businesses will have to fill fewer forms, and they would get access to the EU-EEA (European Economic Area) passport control and swifter passage through British airports.

"In short, more opportunities for Britain and India and a clear message that Britain is very much open for business," she added.

May said it is not just the legal framework that are essential for effective trade and investment, it is about people too.

"It is crucial that those who do need to travel between our countries for business can do so, that is the reason why when I was Home Secretary, I made visa process for Indians much easier," May said.

She further said India now has one of the best UK visa services in the world with more application points than any other country and is the only place where it is possible to get a same day visa.

"...that happened because we listened to our businesses. And we are still listening. Listening to the fact that there are many people from India who are to bring their skill, ideas, businesses to Britain for the good of your economy and ours," May added.

Talking about removing trade and investment barriers, the UK Prime Minister said Britain is working side by side with India to make it easier to do business here.

"We can break down barriers and make it easier to do business...That is why the UK is working side by side with Prime Minister Modi to make it easier to do business in India, for example by strengthening intellectual property rights, and paving the way for world's leading services sector to operate in Indian market benefiting India and UK alike, But I am determined that we will go further," she said.

The UK Prime Minister said, "I will be discussing with Prime Minister Modi how we can increase the detail and depth of our trade and investment discussions, and identify what more we can do, now, to unleash our businesses, industries, exporters and investors." She added "this does not need to wait for us to leave the EU".

"As countries, we both need to ensure we take advantages of the opportunities for the century ahead and we can do so together," she said.

May further said that as Prime Minister Modi pursues his ambition for smart cities, 'Make in India' and 'Digital India', in Britain "we are focused on the economic reform and social reform and building the country that works for everyone".

"I believe we should throw our entire weight behind each other's efforts. In fact, Prime Minister Modi and I are going even further and announcing a new India-UK urban partnership focusing on smart cities," she added.

This is demonstration of long-term relationship, not just trading but sharing skills, technology expertise, she said.

Emphasising on the importance of India, the UK Prime Minister said that outside Europe, this is her first bilateral visit and "first ever trade mission".

"We listen to each other's music and eat each other's food and share a passionate rivalry with each other on cricket," she said, adding "I want to talk about the importance of the relationship today and the limitless possibilities that I believe would be open to us in the future".

Talking about importance of free trade, May said it creates rising tides that lifts all boats, it creates jobs, improves productivity, and improves living standards.

"We have a strong starting point with Britain investing in India more than any other G20 country and India investing in Britain that it does in all EU countries put together," she added.

May said that right now, British businesses are exporting everything from engines to insurance to India.

"...those things are happening despite the continuous existence of barriers to trade and barriers to cooperation," she said while stressing on the needs to exchange ideas and technology.

The UK Prime Minister said that huge opportunities for tech companies exists in India as every second three Indians are experiencing internet for the first time, there is a billion plus people with so many graduates and startups. "I am looking forward to visiting Bengaluru tomorrow to see the startup capital in India," she said.

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Wake UP
 - 
Monday, 7 Nov 2016

Whatever cheddis are doing is making easy for the ambanis and adanis... Common people are left out or ignored...

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Agencies
April 23,2020

New Delhi, Apr 23: With an increase of 1,229 new COVID-19 cases in the last 24 hours, the total number of cases reached 21,700, said the Union Ministry of Health and Family Welfare on Thursday.

The tally is inclusive of 16,689 active cases, 4,325 patients have been cured/discharged and migrated, while 686 patients who have died due to the deadly virus.

According to the ministry's data, Maharashtra is on the top of the list with most COVID-19 cases, 5,652 cases of which 789 patients have recovered and 269 patients succumbing to coronavirus.

Gujarat and Delhi are second and third on the list respectively with Gujarat having 2407 cases of which 179 patients have recovered and 103 deaths. Meanwhile, in Delhi, the tally stands at 2248 cases of which 724 patients have recovered and 49 patients have died from COVID-19.

Rajasthan's tally stands at 1,890 cases with 230 patients cured while 27 deaths have been reported as of Thursday.

Madhya Pradesh has 1695 cases of which 148 patients have recovered and 81 deaths reported. Tamil Nadu, on the other hand, stands with 1629 cases of which 662 patients have recovered and 18 have died due to the deadly virus.

Goa has seven cases reported of which all seven patients have recovered from the coronavirus.

Prime Minister Narendra Modi announced on April 14, that the nationwide lockdown would be extended to May 3.

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Agencies
July 21,2020

New Delhi, Jul 21: The Supreme Court has asked the Ministry of Finance to look into a plea which claimed a loss of hundreds of crore every day, as the public sector banks are not invoking personal guarantees of big corporates who have defaulted on loans.

A bench comprising Justice R. F. Nariman and Navin Sinha asked the petitioners, Saurabh Jain and Rahul Sharma, who filed the PIL, to move the Finance Ministry with a representation within two weeks. The top court observed that the issue is important and the ministry should respond after the petitioner has made the representation before it. The matter had come up for hearing on Monday.

"We are of the view that at page 115 of the Writ Petition it has been made clear that the Ministry of Finance itself has, by a Circular, directed personal guarantees issued by promoters/managerial personnel to be invoked. According to the petitioners, despite this Circular, Public Sector Undertakings continue not to invoke such guarantees resulting in huge loss not only to the public exchequer but also to the common man", said the bench in its order.

Senior advocate Manan Mishra and advocate Durga Dutt, represented the petitioners.

Mishra contended before the bench that the statistics establish the public sector banks incurred a loss of approximately Rs 1.85 lakh crore in a financial year, and the banks did not take action to invoke personal guarantees of the biggest corporate defaulters.

The bench observed that since the petitioners claim the public sector undertakings are not complying with this circular, "We think you should first go to the ministry," said the bench.

Mishra argued before the bench that the loans from a common man are recovered through a mechanism where officials go through even the minutest detail, but promoters, chairpersons and other senior level functionaries of the big corporates find it convenient to get away by defaulting on loans.

The bench told the petitioner's counsel that the Finance Ministry has already issued a notification on this matter, and the petitioners should seek response from the ministry, and then move the top court. Mishra submitted before the bench to issue a direction to the Finance Ministry to give a response on their representation.

The bench said, "We allow the petitioners, at this stage, to withdraw this Writ Petition and approach the Ministry of Finance with a representation in this behalf. The representation will be made within a period of two weeks from today. The Ministry of Finance is directed to reply to the said representation within a period of four weeks after receiving such representation. With these observations, the petition is allowed to be withdrawn to do the needful."

Mishra contended before the bench seeking liberty to come back after a reply from the Finance Ministry. Justice Nariman said this option is open for petitioners after a decision has been taken by the ministry. "We will hear you", added Justice Nariman.

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Agencies
May 4,2020

Mumbai, May 4: Days after Facebook, private equity firm Silver Lake said it will invest 56.56 billion rupees ($746.74 million) in Reliance Industries's digital arm, giving it a valuation of 4.90 trillion rupees. Silver Lake on Monday agreed to pay Rs 5,655.75 crore to buy 1.15 per cent stake in the firm that houses billionaire Mukesh Ambani's telecom arm Jio.

The investment in Jio Platforms comes within days of Facebook investing USD 5.7 billion to buy a 9.99 per cent stake in Jio Platforms. The investment is at a premium of 12.5 per cent to the Facebook deal.

"This investment values Jio Platforms at an equity value of Rs 4.90 lakh crore and an enterprise value of Rs 5.15 lakh crore and represents a 12.5 per cent premium to the equity valuation of the Facebook investment announced on April 22, 2020," Reliance said in a statement.

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