The notion of globalisation is not under threat as a result of Britain’s vote to leave the European Union, writes a senior academic.

A day after the crucial Brexit Vote, it seemed the world had opened its eyes to a new world. An island within Europe had willingly decided to split from the European Union (EU) forever. Soon after, while there was opposition and emotional outcry by people who were not observant of current realities. Brexit isn’t as surprising as it seems in the first instance. Change has always been coming and so it will continue, for good or bad. The only way to be successful, for every individual, business or country, is to evolve and adapt to new realities.

Rana Kapoor, the CEO of Yes Bank, talks ‘India Investment Journal’ through his company’s recent tie-up with Santander UK, the impact of demonetisation and the gains in store for the banking sector with GST.

What is the thinking behind the tie-up with Santander UK?

The UK-India corridor is a high priority corridor for us. The fact is that India is the fastest growing economy in the world today and quite naturally the opportunities between India and the UK are getting catalysed. Especially, SMEs [small and medium enterprises] need cross-border partners and banks are the channel that can help open new markets for them. Santander and Yes Bank are looking at providing a collaborative platform to help SMEs penetrate new geographies.

Sunil Misra, as Director-General of the Indian Electrical and Electronics Manufacturers Association (IEEMA), has an inside track on the country’s renewables challenge. He speaks to ‘India Investment Journal’ on what gives India an edge in this sector and how the 175GW target for renewable electricity generation by 2022 is on course.

What are the main factors behind a surge in India’s electrical industry sector?

India has seen significant and continued growth in its GDP and per capita income. There has been a substantial increase in in middle class and also aspirations of people, giving rise to consumption.

This enhanced consumption requires strengthening of the Transmission and Distribution network, which the country is undertaking with full vigour through its recent initiatives in coal and renewable sector. The government has also increased its spending on rural electrification in parallel schemes with IPDS (Integrated Power Development Scheme) and DDUGJY (Deen Dayal Upadhyaya Gram Jyoti Yojana), which has further spurred the demand of electrical equipment in India.

The Rural Electrification Corporation (REC) launched its first Green Bond on the London Stock Exchange’s new International Securities Market (ISM) to finance renewable energy projects in India.

A new 10-year dated green bond listed by REC raised $450 million, with an annual yield of 3.965 per cent. It was 3.9 times oversubscribed on the final order book and secured strong international investor interest, with Asian investors making up 68 per cent of the order book and investors from Europe, Middle East and Africa region making up 32 per cent.

Innovative technology in real-life use is transforming India’s IT landscape, writes a tech expert.

When I was growing up in the 1970s, electronics was just something fun – my electronics kit that my parents bought me allowed me to make simple circuits that could switch on a bulb as soon as it went dark, or create metronomes or other seemingly non-useful things. However, now, electronics and technology underpins everything, and for me the fun that I had as a child has become useful in the world around us.

India has embarked on its biggest economic reform in living memory with a mission to implement a consistent one nation, one tax regime. This edition of ‘India Investment Journal’ comes as a timely recap of what the Goods and Services Tax (GST) is all about and demystifies some of the jargon to highlight what exactly this mega reform means for foreign investors eyeing India’s lucrative market.

The Big Story section therefore analyses all the nitty-gritties of this new tax, implemented on July 1, and presents a broad snapshot of facts and figures associated with GST. We have some guest contributions and interesting asides, like an introduction to a lesser-known champion, associated with the topic as well.

A new compilation of essays on India-UK ties created a cross-country buzz over the last few weeks with its launch events in London and New Delhi.

“The UK’s relationship with India has been predominantly transactional, but it needs to become transformational. India and the UK need to understand where the true value comes from the partnership, and how they can turn this special relationship into a global relationship, one that changes the world for the better, tackling significant issues such as security and climate change together.”

India Inc. hosted the inaugural UK-India Awards in London, where senior British and Indian ministers called for closer ties in a post-Brexit scenario.

London: UK Foreign Secretary Boris Johnson pushed for a speedy conclusion of a free trade agreement (FTA) between India and the UK at the inaugural UK-India Awards in London on May 12.

“Whenever we go to India, we have to pack bottles of whisky because as you know there is a duty of 150 per cent in India on Scotch whisky. But imagine what we could do if there was a free trade deal with India,” Johnson told a packed audience of high-profile parliamentarians, entrepreneurs and senior executives.

India’s Minister for Road Transport, Highways and Shipping, Nitin Gadkari, has described the National Highways Authority of India’s (NHAI) Masala Bond debut on the London Stock Exchange (LSE) as a sign of India’s growing attraction among global investors.

The rupee-denominated National Highways Authority of India (NHAI) Masala Bond issued with much fanfare by the Minister for Road Transport, Highways and Shipping, Nitin Gadkari, in London recently marks the largest ever five-year issuance and has been described as the “largest inaugural transaction in the Masala Bond market”.

The month of May has been packed with a very wide range of developments, including the first-ever UK-India Awards organised by India Inc. in London on May 12. The event was preceded by the annual UK-India Conclave, this time on the theme of ‘A Global Partnership: A New Era in UK-India Relations’.

Both events became the focal point for senior Indian ministers on visits to the UK earlier this month to promote India as an attractive investment destination. We cover these in our special ‘From the Scene’ section as well as a ‘Face to Face’ feature tracking Indian Minister for Power, Coal and Renewable Energy Piyush Goyal’s success on his investment scouting mission and a ‘Special Report’ on Indian Minister for Roads Transport, Highways and Shipping Nitin Gadkari’s plans to work closely with the UK on India’s infrastructure challenge. Both ministers listed very crucial Masala Bonds on the London Stock Exchange, developments that we delve into as part of our coverage of their visits to Europe.