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United Kingdom wants to make London as India’s “destination of choice” for raising offshore Finance, says British-Indian minister Alok Sharma

We want Indian companies and public sector entities to see the City of London as the natural home for raising offshore finance, he said

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British Prime Minister Theresa May is greeted by her Indian counterpart, Narendra Modi, at the India-U.K Tech Summit in New Delhi, Nov. 7, 2016. VOA

London, Dec 14, 2016: Prime Minister (Narendra) Modi wants to ‘Make in India’. We say: ‘Make in India, finance in the UK’,” Alok Sharma, minster in charge of Asia, said in an address to the UK India Business Council on the ‘Future of the UK-India Relationship’ in London. The United Kingdom wants to make London as India’s “destination of choice” for raising offshore finance.

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“As well as seeking to expand its role as a manufacturer and innovator, India is also rightly addressing its future infrastructure and energy needs. Many of you know the staggering amounts of capital this will require – 2.8 trillion dollars needed by 2040 to invest in energy, according to the International Energy Agency and over 1 trillion dollars in other infrastructure,” he said.

According to PTI, the parliamentary under-secretary in the Foreign and Commonwealth Office (FCO) on Monday said the Theresa May led government wants the City of London to become India’s “destination of choice” for raising international funds.

”We want Indian companies and public sector entities to see the City of London as the natural home for raising offshore finance – for quasi-sovereigns as well as corporates.”

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British-Indian minister Alok Sharma, sought to clear up what he described as “mis perceptions and misconceptions” around the issue of visas.

“First of all, there is no cap on the number of international students studying at recognised institutions in the UK. Secondly, we continue to welcome students from India – in the year to March 2016, we approved 89 per cent of Indian student visa applications,” he said.

According to PTI, India is the only country where applicants can obtain a same-day visa and Indian citizens enjoy greater access to application centres than anyone else. “We naturally want our visa regime to be as simple and efficient as possible. But we must also ensure that people return to their country of origin once their visa has expired.” To ensure that the visa regime does not hinder the commercial relationship, he said the British government wants India to be the first country to be offered the “Registered Traveller Scheme, giving business traveller’s expedited clearance at the UK border.”

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Britain’s Prime Minister Theresa May’s visit to India last month was “no coincidence” that it was her first overseas bilateral visit outside the European Union as PM. “It signaled the immense value we place on our existing partnership with India and the potential we see to enhance this unique relationship in the future,” he said.

The Conservative Party MP pointed to the UK as India’s largest major investor, is responsible for employing one in every 20 Indians and second largest international employment generator and India as the UK’s third-largest investor – responsible for over 110,000 jobs in the UK.

– Prepared by Ruchika Kumari of NewsGram. Twitter: @RuchiUjjaini

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Uber India Rolls Out Driver Reward Programme “Uber Plus”

Uber India has planned free doctor access and micro loans for drivers

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Uber
Uber has rolled out a reward programme for drivers in India. Wikimedia Commons

Global ride-hailing major Uber on Wednesday rolled out a driver rewards programme called “Uber Plus” in India that will let drivers earn points for rides so that they can win free doctor consultations, concessions on education modules, access to micro loans, faster airport pick ups and savings on vehicle maintenance costs.

These points will be earned by the driver partners in 13 cities over a fixed period of every three months and can be then accumulated to unlock higher rating tiers such as blue, gold, platinum and diamond which, in turn, will let them access better rewards, informed the company.

“Under the programme, the Uber drivers get access to four tiers. To unlock these awards, they need to maintain a certain threshold rating and keep a low cancellation rate to unlock access to these benefits,” Prabhjeet Singh, Head of Cities, Uber India and South Asia, told IANS.

Uber Plus
Under this programme, Uber drivers get access to four tiers. Pixabay

“We have always worked towards prioritising their welfare and making them feel valued, respected and appreciated. ‘Uber Plus’ is an effort in that direction and will enable our driver partners to access greater benefits during their everyday journeys,” he added.

The rewards and offers are only available to drivers who use the Uber driver app, are participating in Uber Plus and meet applicable criteria.

Asked if this initiative will help in bringing down the number of cancellations, Singh replied: “We encourage ri ders to flag such cases if the driver cancels because the mode of payment is not cash, etc. That will help us take strict action against such drivers.

“We want to encourage behaviour which helps improve the marketplace reliability. Less the cancellation, the chances of the trip getting completed goes up and, overall, the network efficiency increases.”

An initial pilot phase was carried out in Delhi-NCR, Chandigarh and Mumbai and now, Uber Plus is being rolled out across 10 new cities, including Bengaluru, Hyderabad, Chennai, Kolkata, Lucknow, Ahmedabad, Pune, Kochi, Guwahati and Jaipur.

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“We also want to reward drivers who have lower cancellations,” said Uber.

Under the driver programme, Uber has partnered with “Ayushman Bharat” to provide access to free healthcare to its drivers, wherein they have access to free healthcare of up to Rs 500,000 in empanelled hospitals. (IANS)