Nominations are open for the second Indian Awards, organised by the India Business Group (IBG), a leading business advisory consultancy based in London.
The awards are now established as an important celebration of UK - India business, trade, investment and cultural relations. They offer a prestigious platform for recognising the efforts of UK based individuals and businesses who continue to strengthen bilateral relations and bring together influential facilitators working in the UK - India corridor.
The UK’s International Trade Secretary, Dr Liam Fox said:
“India is the world’s seventh-largest economy and the fourth largest investor into the UK, while UK investment in India grew by 8.8% in the year to 2016. As an international economic department, the Department for International Trade continues to work closely with our Indian colleagues to maximise trade between our nations and I welcome this fantastic initiative, celebrating the historic trading ties between the UK and India.”
The gala invitation-only dinner and ceremony will be held on 17 May 2018 in the Houses of Parliament and will feature senior business leaders, Government officials, opinion formers and prominent members of the Indian community and guests from India and other parts of the World. There are six award categories ranging from businesses, entrepreneurs, arts & culture to special recognition. Nominations are invited by members of the public and the winners will be chosen by a panel of judges and announced on the evening of 17 May. The awards initiative is supported by a range of high profile partners, including the Institute of Directors, Invest India and Heathrow Airport, amongst others.
India is one of the fastest growing major economies in the World, with annual growth rates of around 7 percent GDP. The UK is the single largest G20 investor in India with British companies employing nearly 800,000 people. India is the fourth largest source of FDI into the UK, with more than 800 Indian owned businesses operating in the UK and employing around 110,000 individuals. The Indian Diaspora in the UK totals about 1.5 million people and is one of the largest ethnic minority groups in the country.
The Indian Awards were founded by Amarjit Singh, Chief Executive Officer of the India Business Group and an established thought leader on UK - India commercial affairs. “The India Business Group is delighted to present the second Indian Awards initiative,” says Mr Singh. “As Britain navigates the Brexit negotiations, the Government has shown much enthusiasm for a free trade agreement with other commonwealth countries, among the most important and largest is India. Prime Minister Theresa May made her first visit outside the EU to India after the Brexit vote as Prime Minister and it is hoped the country is one of the key markets that will compensate for the loss of access to the European Single Market after Brexit” says Mr Singh.
Against this backdrop, the IBG contends that British businesses should be at the front lines in boosting trade between members of the Commonwealth, and to support this aspiration, the IBG is hosting the second Indian Awards initiative, aimed at celebrating and cementing UK - India relations. In view of the size, growth potential and sustained reforms, India is a magnet for British businesses. It has recently made significant progress in improving its global rankings on the ‘ease of doing business’ and is an important international destination for mergers, acquisitions and joint ventures.
Commenting on the awards, Amarjit Singh, Chief Executive Officer of India Business Group and Founder of the awards stated: “The modern relationship between the UK and India is at a key juncture. Through The Indian Awards we aim to promote global success stories and inspire the next generation of UK and Indian entrepreneurs, facilitators and bridge builders who will take the bilateral relationship to greater heights.”
The Lord Patel of Bradford OBE, Chairman of India Business Group said:
“This special initiative celebrates, for the first time, the efforts of outstanding organisations and individuals (based in the UK) who have worked over the years to strengthen the bond between the UK and India. This special awards ceremony is a timely reminder about the mutually beneficial, evolving and special relationship between our two great nations”.