Supplementary evidence from UK Trade &
Investment
SENIOR OFFICIALS LEVEL REVIEW MEETING OF
THE 3RD INDIA-UK JETCO 5 JULY 2007 IN NEW DELHI
Present:
INDIA
Shri Rahul Khullar, Additional Secretary, Department
of Commerce
Ms. Sujatha Singh, Joint Secretary, MEA
Shri Sanjay Chavre, Senior Development Officer,
DIPP
Shri K.K. Kalra, Under Secretary, DOC
Shri S.K.Goel, Under Secretary, DOC
UK
Mr. Asif Ahmad, Director Asia, UKTI
Mr. Creon Butler, Deputy High Commissioner,
BHC
Mr. Paul Grey, First Secretary, BHC
Ms. Anne Macro, 2nd Secretary BHC
Ms. Sanchita Chatterjee, Trade Policy Adviser,
BHC
1. GENERAL DISCUSSION
ON WORKING
GROUPS
Both sides agreed that some of the Working Groups
needed to be given direction to ensure focused efforts and commercial
results. Timelines and clear goals need to be set by the working
groups. Both sides encouraged the Working Groups to put policy
recommendations to the Government as appropriate. It was noted
that the UK India Corporate Affairs Working Group had been set
up and would be meeting in August 2007.
2. 4TH ANNUAL
JETCO MEETING TO
BE HELD
IN LONDON
IN JANUARY
2008
It was noted that the 4th JETCO meeting would
take place in London in January 2008 subject to confirmation of
the respective Ministers.
3. INVESTMENT
SUMMIT
The meeting was informed that the structure
of the proposed Investment Summit to be held in New Delhi is being
discussed and hoped that the date would be notified by August
2007 by which time the schedule of the UK Prime Minister's visit
to India may also be known.
4. REVIEW OF
PROGRESS OF
WORKING GROUPS
4.1 Hi-tech Working Group
It was noted that the second meeting of the
Working Group was held on 15 January 2007. The representative
of the WG stated that the Group had decided to focus on two specific
areas: nanotechnology and information technology. Sub-groups have
been set up in these areas. Four meetings of the nanotechnology
sub-group have been held so far. The work plan for the year 2007-08
has been chalked out. Both sides hoped that tangible outcomes,
such as research collaboration, would emerge from the work plan.
The sub-group on information technology had
met twice so far. The sub-group was formulating an Initiative
to establish relationship between SMEs on both sides. INTELLECT,
UK and NASCOM would actively be involved in this initiative.
Both sides encouraged the WG to take stock of
the wider areas of business being undertaken by Indian and UK
ICT businesses and incorporate input from these on to the JETCO
agenda.
The Indian side explained the provisions of
the SEZ Act and the implications for the existing STPI incentives.
4.2 Agribusiness Working Group
The representative of the Working Group (WG)
stated that the Group had met four times so far. The areas of
mutual interest are; to promote bilateral trade in the field of
fish, meat and poultry based item, organic foods, frozen fruits
and vegetable; capacity building on retail infrastructure, technical
expertise in dairy product processing, packaging machinery and
food processing equipment, technology transfer; and livestock
genetics. It was noted that an MoU between FICCI-CIFTI and CCFRA
was signed on 8 March 2007 to strengthen, promote and develop
mutual cooperation in capacity building and trade facilitation
in the agribusiness sector between India and the UK. A MoU between
India and UK was being finalized for setting up labs for certification
of marine products being exported to UK from India. Details would
be finalized in the next meeting of the WG to be held in UK. The
different interests of the participants on both sides was noted,
however, it was felt that with improved cooperation joint commercial
projects would be possible. The UK side undertook to widen the
participation in the WG by bringing it to the attention of the
relevant interested parties.
4.3 Accountancy Working Group
It was noted that the Working Group had met
four times. The representative of the Working Group stated that
both sides are undertaking a detailed review of their respective
professional examinations and syllabus with the aim of achieving
mutual recognition of qualifications. Both sides noted the good
progress made and hoped that discussion on membership reciprocity
and market access issues would be further advanced in time for
the next Ministerial meeting of JETCO.
4.4 Financial Services Working Group
The first meeting of the WG was held on 15 January
2007, in New Delhi. The WG had a discussion on commonality of
issues on both sides and opportunities for collaboration and sharing
of best practices in the area of Financial Services. It was agreed
by the WG that priority areas with timelines would be listed out
and sub-groups in the areas of banking, insurance, capital markets
and venture capital and private equity which have been established
will focus on specific interests. Both sides agreed that the WG
should look into the prospects for Mumbai to develop as an international
financial centre. There was a need to incorporate the outcomes
of the dialogue between Indian and UK institutions in meetings
outside of the WG, for example, the Lord Mayor's delegation, and
take these into account in determining areas of action. Both sides
noted the political limitations on further liberalization of the
insurance sector. Ministers would continue to engage on the special
circumstances of Lloyds of London.
4.5 Intellectual Property Rights Working Group
Both sides noted that the signing of a Statement
of Intent on future co-operation by Lord Sainsbury and Shri Kamal
Nath on 27 June 2006 was a positive sign. The possibilities of
inter-linking technical institutions and professionals needs to
be explored. The Indian side suggested that a possible set of
activities in the ambit of the structured dialogue could be provided
by the UK side.
4.6 Legal Services Working Group
It was noted that the Working Group had met
four times. The Indian side stated that Indian membership of the
Working Group had been expanded to include representation from
Bar Council of India. A separate meeting of the Indian representatives
is being scheduled so as to take the work of the WG forward at
a faster pace. Officials of both sides noted the constructive
engagements by the Indian Law Minister and members of the legal
professions of both India and the UK to determine the manner in
which foreign and Indian lawyers could meet demand for advisory
work.
4.7 Infrastructure Working Group
It was noted that the Working Group had met
three times so far and recognized the need to generate and accelerate
deal flow. There was a need to move from the general to specific
investment and development opportunities. The Provision of project
lists at central and state level, as agreed at the last ministerial
meeting, would assist the process. The investment opportunities
in development of Railway Freight Corridors in India were highlighted
by the Indian side. The members of the Working Group were keen
to take the initiative forward by looking at crafting new PPP
projects through India Infrastructure Initiative, moving from
core infrastructure to social infrastructure and partnering States
and cities; concentrating on second Tier cities. CII will organize
brainstorming sessions of the WG in some States at mutually convenient
dates.
4.8 Healthcare Working Group
It was noted that this Working Group had met
four times. The meeting was informed that the focus areas identified
were in the sector of medtech collaboration, fast-track registration
of Indian medical personnel for UK work, e-health opportunities
and possible collaborations in healthcare insurance.
The Indian membership of the working group desired
greater private sector participation from the UK side to ensure
effective B-2-B dialogue. The Group is exploring tie-ups with
UK universities for healthcare education and training. The group
was discussing mutual recognition of medical degrees from reputed
institutions on a case-to-case basis.
Both sides agreed that there was a need to match
more closely the interests of participants in the WG. This is
likely to be achieved by the formation of sub-groups with a common
agenda and attract more relevant participants from business and
government.
5. The co-chairs desired that all the Working
Groups should meet again in the month of December 2007, to review
the progress made so that the two Ministers could be briefed before
the next India UK JETCO meeting scheduled to be held in January
2008.
6. INDO-BRITISH
PARTNERSHIP NETWORK
(IBPN)
The meeting was informed that as part of the
enhancement of the IBPN a new Chief Executive Officer has been
recruited and will take over in the end of August 2007. The CEO
and the Advisory Board will create a new organization with a dedicated
London office. The current Board will help to implement the new
strategy, in collaboration with the new CEO to deliver assistance
to business engaging in Indo-British commerce. The private sector
will over time match the funding of £1 million committed
by the UK Government.
July 2007
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