Short Takes

UK hosts Indian mango talksThe British government held a round-table meeting this week to help lift the ongoing European Union (EU) ban on the import of Indian mangoes.UK environment minister Lord de Mauley hosted the meeting at the Department of Environment, Food and Rural Affairs (DEFRA) in London with representatives of mango and vegetable importers and exporters from the UK and India.Lord de Mauley, parliamentary under-secretary of state for natural environment and science, said: “The British government values the bilateral trade with India and is willing to support Indian regulators and the exporters and importers with technical assistance and collaborations with British regulators.“The ability to overturn the ban is with the EU commission and such decision will be taken after the FVO (Food and Veterinary Office) visit to India in September 2014. The intention is to work with all the stakeholders to get the processes right so the ban sanctioned till December 2015 is lifted sooner.”The UK imports around £6.3-million worth of Indian mangoes per year out of a UK mango market worth £68 million in total.JLR engine plant set for UK launchTata Motors owned Jaguar Land Rover′s (JLR) new engine plant near Wolverhampton in Britain should be ready for production by September-October this year.While JLR will be keen to get the £0.5-billion factory operational as soon as possible, it is unlikely to be reckless as there is too much at stake.The company is still recruiting the 1,400 workers that will be needed when the factory, located at the i54 business park in South Staffordshire, starts full production.When working to full capacity, the factory, which covers the area of 14 football pitches, will be capable of producing a new engine every 36 seconds.In terms of exports, 85 per cent of what is produced at the factory will be destined for foreign markets - a figure which befits the latest recipient of the Queen's Award for Enterprise.Tesco hopes to bag major profits in IndiaBritain's supermarket giant Tesco has recorded a major drop in profits and has pinned its hopes on India for a revival of fortunes.Tesco posted a 6 per cent fall in group trading profit to £3.3 billion in the year to 22 February. In the UK, profits fell 3.6 per cent to £2.2 billion and sales at shops open more than a year fell 1.4 per cent.Tesco chief executive Philip Clarke said: “Our results today reflect the challenges we face in a trading environment which is changing more rapidly than ever before. We are determined to lead the industry in this period of change.“We have completed our exit from the US and established partnerships with CRE in China and Tata in India which provide continued access to two of the world′s most exciting markets, consistent with a sustainable level of future investment.“During the year, we have maintained our focus on cash and capital discipline. We have significantly reduced our new investment in Europe, focusing the majority of our overseas capital on targeted, high-returning investments in Korea, Malaysia and Thailand.”The above article was published in India Inc′s print edition of the India Investment Journal launched in June 2014 in conjunction with the India Inc Seminar: A new dawn for India - What does it mean for UK-India Business