World news story
UK companies to export smart grid innovation technologies to India
Sir David King is visiting India to strengthen UK-India collaboration on combating climate change and enhancing energy security.
Leading British companies working in the field of smart grids are showcasing their innovations at the ongoing India Smart Grid Week (ISGW) in New Delhi from March 16-19. The six companies are a part of a UK Trade and Investment (UKTI) delegation.
In its second year, ISGW - an initiative supported by the Ministry of Power - is bringing together India’s leading electric utility companies, policy makers, regulators, investors and global smart grid and smart city experts.
Inaugurating UKTI stall at the exhibition, Sir David King, UK’s Special Representative on Climate Change said:
The UK is a world leader in smart grid solutions. We are well placed to support India’s ambitious plans of ‘electricity for all’ by 2019. I am excited to lead a delegation of the best of British companies to offer technical expertise and know-how to Indian companies.
UK-India relations in the energy sector are already quite strong and vibrant with Britain as one of the largest investors. Further, the UK and India share objectives on energy security and view reliable, affordable, sustainable energy as key to economic growth. Sir David will also meet British and Indian businesses to discuss commercial opportunities in clean energy and low carbon technology.
BEAMA, the UK’s lead trade association representing manufacturers of electrical infrastructure products and systems will also be participating along with the British companies.
Highlighting UK’s expertise Kelly Butler, Deputy CEO and Marketing Director of trade body BEAMA, said:
It is evident that the UK and India face common challenges with network reinforcements, integration of renewables and increasing domestic and commercial demands on the grid. Dealing with disruptive technologies and business models in the energy system is challenging but also offers opportunities for network operators to invest in new technology which can optimise the efficiency of the overall system. Learning from trials in the UK and India will go a long way to tackle these new challenges and open up new market opportunities.
British Smart Grid companies at the ISGW bring the right blend of expertise in technology and skills to the Indian market. UKTI will also facilitate their interactions with Indian companies, regulators and policy makers at the IGSW.
The Foreign Secretary appointed Sir David King as his new permanent Special Representative for Climate Change in September 2013. Sir David was previously the Government’s Chief Scientific Advisor from 2000 – 2007, during which time he raised awareness of the need for governments to act on climate change and was instrumental in creating the Energy Technologies Institute. He also served as the Founding Director of the Smith School of Enterprise and Environment at Oxford; was Head of the Department of Chemistry at Cambridge University 1993-2000 and Master of Downing College at Cambridge 1995 -2000.
UK companies participating at the ISGW:
- Cumulus Energy Storage Limited
- Essential Energy India Pvt. Ltd
- Flexeye It Services Pvt Ltd.
- Open Energi, Proinso
- Ricardo India Pvt. Ltd.
Why the UK is an attractive destination for Indian companies
- with low tax and a talented workforce, Britain is one of the easiest places to grow your business.
- in 2014-15, the UK won a record number of investment projects and maintains position as top investment destination in Europe. India emerged as Britain’s third biggest job creator in 2014 as the country saw a 65% increase in foreign direct investments (FDI) from here. (Source UKTI )
- in 2014-2015 Indian investments in 122 FDI projects created 7,730 new jobs and safeguarded 1,620 jobs in UK. (Source UKTI)
- the total number of people in the UK employed by Indian companies has increased by 10 per cent: from 1,00,000 in 2014 to nearly 1,10,000. (Grant Thornton)
- it takes only 13 days to set up a business in the UK, compared with the world average of 35 days.
- the UK is ranked 6th globally for Ease of Doing Business. According to World Bank’s report (Oct 2015), the UK has become an easier place to do business in the past year after reforms to red tape and corporate tax.
- the UK offers the lowest corporation tax rate in G20, gateway to Europe.
For media queries, please contact:
Stuart Adam, Head,
Press and Communications
British High Commission, Chanakyapuri
New Delhi 110021
Tel: 44192100; Fax: 24192411
Mail to: Anshuman Atroley