Global India Business Meeting22-23 June 2014, Liverpool, United Kingdom

a Horasis-leadership event

Co-hosts:Liverpool City CouncilInternational Festival for Business

Report

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Horasis is a global visions community committed to enact visions for a sustainable future (http:/www.horasis.org)

Upcoming Horasis events:

Global China Business Meeting Lake Como, Italy, 13-14 October 2014

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Knowledge Partners:

CaptivewayMetricStreamStandard Chartered

TMF Group

Media Coordination:

Pulse Nation Media

Global India Business Meeting22-23 June 2014, Liverpool, United Kingdoma Horasis leadership event

Co-hosts:Liverpool City Council

International Festival for Business

Co-chairs:Nazir Alli Chief Executive Officer, South African National Roads Agency, South Africa

Rahul Bajaj Chairman, Bajaj Auto, India

Subodh Bhargava Chairman, Tata Communications, India

Lord Karan Bilimoria Chairman, Cobra Beer Partnership, United Kingdom

Ashish Chauhan Chief Executive Officer, Bombay Stock Exchange, India

Jochum Haakma Director, TMF Group, The Netherlands

Mikael Hagström President International, SAS, USA

Rajive Kaul Chairman, Nicco Group, India

Naina Lal Kidwai Immediate Past President, FICCI and Country Head, HSBC India, India

David Landsman Director, Tata Limited, United Kingdom

Sunil Kant Munjal Jt Managing Director, Hero MotoCorp, India

Ajay Piramal Chairman, Piramal Group, India

Rajendra S Pawar Chairman, NIIT, India

Niraj Sharan Chairman and Chief Executive Officer, Aura, USA

Bhav Singh President, Pearson English, United Kingdom

Gunjan Sinha Chairman, MetricStream, USA

Jyotsna Suri Senior Vice President, FICCI and Chairperson, Bharat Hotels, India

Harshbeena Zaveri President, NRB Bearings, India

Co-organizers:

All India Management Association (AIMA)Federation of Indian Chambers of Commerce and Industry (FICCI)

Strategic Partner:

PwC

The meeting took place at Stanley Dock – a conservation area characterised by massive port-related structures

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The Titanic Hotel – venue of the Global India Business Meeting

The Global India Business Meeting is ready to start

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Table of Contents

Foreword 6

UK urges India to ease stance in talks on EU FTA 32

Gregory Barker, Minister of State for Energy and Climate Change, United Kingdom, keynoting the Global India Business Meeting

Foreword

On 22-23 June 2014, the sixth HorasisGlobal India Business Meeting took placein Liverpool, United Kingdom. The eventwas the first international business meetingon India held after the 2014 elections. Themeeting’s leitmotif was to engage partici -pants to provide a timely perspec tive onthe future direction for India. The GlobalIndia Business Meeting gathered a collectiveaudience of 250 Indian and global entre -pre neurs, business leaders and governmentofficials.

The 2014 elections have produced a stunningvictory for the Bharatiya Janata Party (BJP)and its allies in the National DemocraticAlliance (NDA). The coalition has securedan absolute majority in India’s lower houseof parliament. Fueled by a strong anti-incumbency sentiment across the country,it was the biggest victory for a single partyin decades, and has given the BJP’sNarendra Modi and his administration aclear mandate to move forward with thereforms he promised voters throughoutthe five weeks of polling. Narendra Moditook oath as India’s fourteenth primeminister on 26 May 2014.

With this Global India Business Meeting,Horasis aimed to present an interdiscipli -nary and systemic view of the majoreconomic, societal and technologicaldrivers currently at work in India and theworld. The location of the meeting rotatesannually, and was held so far in Munich(2009), Madrid (2010), Naples (2011),Antwerp (2012) and Belfast (2013). The 2014 Global India Business Meetingwas part of The UK’s International Festivalfor Business, a series of global businessevents held in Liverpool to celebrateentrepreneurship and economic growth.The event was organised by Horasis inpartnership with the Liverpool City Council.

N.K. Singh, Former Secretary to the Prime Minister of India, speaking during the opening dinner

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This report – which builds on the outcomeof the meeting – is an attempt to sum ma -rise the discussions which took place at theGlobal India Business Meeting. Also, it shallserve as a catalyst that stimulates furtherthinking on the issues and questions thatwere raised. Being a business-focusedgathering, valuable opportunities for busi -nesses were identified during the variouspanels as well as on the sidelines of theevent.

Participants discussed a set of possiblepost-election trajectories. In a vulnerableglobal economic environment, India re -mains one of the world’s growth engines.Its outward engagement in terms of trade

and investment with the rest of the worldcontinues, and it is viewed as a land ofopportunities. The meeting focused on thenew government’s policies and the relatedchanging paradigm of the Indian economy.Sustained structural reforms aimed atenhancing competitiveness will be neces -sary to bolster and boost India’s economicgrowth and ensure the rising prosperity ofits population going into the future.

The star contingent of participants hasbecome the trademark of the Global IndiaBusiness Meeting. The following co-chairsrepresented the meeting vis-a-vis thegovernment, regional authorities and thegeneral public: Nazir Alli, Chief Exe cu ti ve

Vince Cable, Secretary of State for Business, Innovation and Skills,United Kingdom

Opening Plenary – India and World Economic Outlook

Rahul Bajaj, Chairman, Bajaj Auto, India

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Officer, South African National RoadsAgency, South Africa; Rahul Bajaj, Chair -man, Bajaj Auto, India; Subodh Bhargava,Chairman, Tata Communications, India;Lord Karan Bilimoria, Chairman,Cobra Beer Partnership, United Kingdom;Ashish Chauhan, Chief ExecutiveOfficer, Bombay Stock Exchange, India;Jochum Haakma, Director, TMF Group,The Netherlands; Mikael Hagström,President International, SAS, USA; RajiveKaul, Chairman, Nicco Group, India;Naina Lal Kidwai, Immediate Past Presi -dent, FICCI and Country Head, HSBC India,India; David Landsman, Director, TataLimited, United Kingdom; Sunil KantMunjal, Jt Managing Director, HeroMotoCorp, India; Ajay Piramal, Chair -man, Piramal Group, India; Rajendra SPawar, Chairman, NIIT, India; NirajSharan, Chairman and Chief ExecutiveOfficer, Aura, USA; Bhav Singh, Presi -dent, Pearson English, United Kingdom;Gunjan Sinha, Chairman, MetricStream,USA; Jyotsna Suri, Senior Vice President,FICCI and Chairperson, Bharat Hotels,India; Harshbeena Zaveri, President,NRB Bearings, India.

The new government faces a mammothtask to meet India’s soaring expectations.Participants identified four main prioritiesfor the Indian economy:

• There is a great desire for change,especially among business leaders, India’syouth and the middle class. The newgovernment will have to slay thebureaucratic inertia which has for toolong held the country back. The eco no -my has to be actively revived. Reformshave to grow up.

• The key sector to watch is infra structure.Incentives to public-private partner -ships in key infrastructure sectors areessential, to act as stimulus to privateinvestment and faster growth.

• India needs to improve its investmentclimate. If foreign investment is toachieve its full potential as an accele ra torof economic growth, there needs to begreater clarity in the approvals process,and in the legal and tax systems.

• India must create 10 million jobs a year,four times the pace of the last 5 years, toabsorb youth into the workforce. Also,the education and training of futuregenerations is of foremost importanceas a factor in collective development.

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Mac Maharaj, Spokesperson of the Government of South Africa, with Deepak Premnarayen, Chairman, ICS India

Arrival of Vince Cable, UK Secretary of State for Business,Innovation and Skills

Speaking on behalf of the host city, MaxSteinberg, Chief Executive, LiverpoolVision, United Kingdom, welcomedparticipants to both start and continuedialogues to further build on existing linksbetween Liverpool and India. ‘Liverpoolepitomizes the close partnership betweenIndia and the United Kingdom that can betraced back for centuries and has beenunderpinned by deep financial ties over thelast decades. Liverpool has become a gate -way through which business leaders fromIndia and elsewhere go on to experiencethe investment opportunities that we haveto offer,’ he said. He told the audienceabout the story of how Liverpool hasrestored its economic competitivenessduring a time of austerity, attractingconsiderable private sector investment totransform the city into an internationalbusiness hub. ‘The International Festivalfor Business has been a great success so far.We are glad that the Global India BusinessMeeting is part of the festival,’ he said.Spanning 50 days and comprising morethan 200 events, the Festival is a globalshowcase for business and industrychampioning Liverpool and the UK to newmarkets, new products and new partners.

Ranjan Mathai, Indian High Commis sio -ner to the United Kingdom, said duringthe welcome reception that India hadchanged enormously against old Europeanpre-conceptions of it and was ready toengage. He urged the European Union (EU)to take note of India. ‘India has now arrived,’he told delegates. ‘Now is the time foraction. The new Indian government willallay market doubts.’

‘India holds great promise for eco no micengagement with the United Kingdom’ Gregory Barker, Minister of State for Energy and Climate Change, United Kingdom

Max Steinberg, Chief Executive, Liverpool Vision, welcomingparticipants

Virtual Ribbon Cutting Ceremony

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Ranjan Mathai, Indian High Commissioner to the United Kingdom – ‘India has now arrived’

Addressing participants, Gregory Barker,Minister of State for Energy and ClimateChange, United Kingdom, said that ‘Indiaholds great promise for economicengagement with the United Kingdom.’‘Both India and the United Kingdom beinggreat economic partners that we are willfind the ways to further deepen anddiversify our economic engagement,’ hecontinued. In conclusion, the Ministerexpressed his confidence in the ‘India Story’and shared his belief that Britain could be aspringboard for Indian companies to reachout to Europe and the world. ‘Our partner -ship with India will play an important rolein our economic growth pattern,’ he said.He was also optimistic about the EU IndiaFree Trade Agreement, which he believedwould be signed in the near future.

In his welcoming speech, N.K. Singh,Former Member of Parliament, FormerMember of the Planning Commission,Former Secretary to the Prime Minister,India, said that the Indian government willpush for more economic reforms in themonths ahead, including the easing of limitson foreign direct investment in varioussectors. ‘We want to liberalize trade andengage with the United Kingdom and allother dynamic economies of the world,’the Minister said. Bullish about India’sgrowth, N.K. Singh shared his estimationof double-digit GDP growth in the yearsto come. He announced that the Indianeconomy could be worth as much as USD40 trillion by 2040. This would constitute20 percent of the world economy, up fromthe current two percent. He pointed outthat favourable demographics, technology,and an appreciating rupee were among thefactors which favoured this economic

‘The Indian government will push formore economic reforms in the monthsahead, including the easing of limitson foreign direct investment in varioussectors’N.K. Singh, Former Member of Parliament, Former Member of the Planning Commission,Former Secretary to the Prime Minister, India

Meeting on the sidelines of the event

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Participants gathering for the welcome reception

growth. He recognized the importance ofbureaucratic reform. ‘Better governance iskey,’ he said. ‘We need to curb corruption.And we have to increase the service levelof the public administration,’ he added. Heconcluded by stating that India is forging astrong skills base, which will not only meetthe country’s future needs but also helpbridge the global skills in the future.

‘With India’s economy at crossroads, whatare the prospects for political and economicreforms? How do business leaders advancetheir corporate agenda in an environmentof policy change?’ asked Karan Thapar,President, infotainement Television, India,in a special after-dinner plenary called ‘Is India’s New Government InvestorFriendly?’. As the title suggests, the discus -sion was about the new government andthe steps it has taken or proposes to takethat will make it investor friendly orinvestor unfriendly. Naina Lal Kidwai,Immediate Past President, FICCI andCountry Head, HSBC India, India, empha -

sized the need for a redoubling of reformefforts to promote growth and create jobs.According to Jochum Haakma, Director,TMF Group, The Netherlands, ‘India’s newgovernment needs to assure global inves -tors that the country’s growth story isintact and they can look forward to a stableand transparent policy regime.’ ‘I imaginethat in the days ahead we will have a clearerIndia of what these steps are,’ reasonedAjay Piramal, Chairman, Piramal Group,India. ‘There are still lots of uncertaintiesincluding a possible decision to reverse oramend retrospective tax amendments,increase FDI caps, strict control on the fiscalsituation plus such measures proposed bystate governments like Rajasthan to amendlabour laws,’ reported Niraj Sharan, Chair -man and Chief Executive Officer, Aura, USA.

‘I imagine that in the days ahead we will have a clearer India of whatthese steps are’ Ajay Piramal, Chairman, Piramal Group, India

Ajay Piramal, Chairman, Piramal Group

Naina Lal Kidwai, Immediate Past President, FICCI and Country Head, HSBC India

Karan Thapar, President,infotainement Television, chairing a nightcap plenary

Niraj Sharan, Chairman andChief Executive Officer, Aura, USA

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Participants gather prior to the opening plenary

While the European Union is still experien -cing the aftermath of the economic crisis,India is grappling with the pressures ofinclusive development. ‘How can India andEurope forge a new growth partnership,’asked session moderator Nina dos Santos,Anchor, CNN, United Kingdom? VinceCable, Secretary of State for Business,Innovation and Skills, United Kingdom,

reported that UK firms are the largestEuropean investors in India and there ismore Indian investment in the UK than therest of the EU combined. ‘We have alwayshad a special relationship between ourcountries and I am keen to push economiccooperation much further as we worktowards doubling trade with India by2015,’ he said. Rahul Bajaj, Chairman,Bajaj Auto, India, provided a perspectiveon India’s economic outlook. ‘India’seconomy expanded at its slowest pace in adecade last fiscal year. Now, with theoptimism linked to the new government,economic growth is expected to come backto 8-10% within the next 3-5 years,’ he said.

Minister Cable and Rahul Bajaj discussed theon-going negotiations between India andthe EU to conclude the EU India Free TradeAgreement. Several rounds of mee tingshave already been held between India andthe EU since the negotiations for the Free

‘We have always had a special relation -ship between our countries and I amkeen to push economic cooperationmuch further as we work towardsdoubling trade with India by 2015’ Vince Cable, Secretary of State for Business,Innovation and Skills, United Kingdom

‘Now, with the optimism linked to thenew government, economic growth isexpected to come back to 8-10% withinthe next 3-5 years’ Rahul Bajaj, Chairman, Bajaj Auto, India

Ashish Chauhan, Chief Executive Officer, Bombay Stock Exchange, about India’s economic outlook

Jan Siemons, Managing Director,Netherlands Council for TradePromotion, The Netherlands

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Nina dos Santos, Anchor, CNN, hosting the plenary with Minister Vince Cable and Rahul Bajaj

Trade Agreement were launched in June2007 but both the sides are still engaged inbridging the gaps on several issues. At stakeis an agreement that would create one ofthe world’s largest free-trade zones bypopulation – covering 1.8 billion, or morethan a quarter, of the world’s people.Minister Cable told participants that thenegotiations are progressing well. ‘Still, anumber of sticking points have yet to beovercome,’ he said. Rahul Bajaj stressedthe need for both sides to reach a deal,particularly given the current economicstress.

On the opening plenary, Ashish Chauhan,Chief Executive Officer, Bombay StockExchange, India, commented that ‘stockmarket indices zoomed to new highs inanticipation of the electoral outcome. Theexternal value of the Indian currency hasstrengthened. The new government is

indeed promising to revitalise the Indianeconomy.’ ‘A major task is to reduce infla -tion which has risen to 14 percent whichposes challenges as it has been locked incycles of high inflation tied to high interestrates,’ Lord Karan Bilimoria, Chairman,Cobra Beer Partnership, United Kingdom,said. ‘The new government shall focus onselling its holdings in state-run firms thatcould raise much-needed revenues to trimIndia’s ballooning fiscal deficit and boosteconomic growth,’ Mikael Hagström,President International, SAS, USA, added.According to Jyotsna Suri, Senior VicePresident, FICCI and Chairperson, BharatHotels, India, ‘a tax reform should replaceexisting state and central levies with auniform tax, boosting revenue collectionwhile cutting business transaction costs.’

‘Stock market indices zoomed to newhighs in anticipation of the electoraloutcome. The external value of theIndian currency has strengthened. The new government is indeed promisingto revitalise the Indian economy’Ashish Chauhan, Chief Executive Officer, Bombay Stock Exchange, India

Lord Karan Bilimoria, Chairman, Cobra Beer Partnership, United Kingdom

Mikael Hagströ�m, President International, SAS, USA, on the opening plenary

Meeting co-chair Jyotsna Suri, Senior Vice President, FICCI and Chairperson, Bharat Hotels, India

Jiten H. Doshi, Founder, EnamAsset Management Co.

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Networking during a break

‘We need more and better reforms to boostthe economy, which has been hobbled byinflation as well as by fiscal and currentaccount deficits,’ conveyed Rajive Kaul,Chairman, Nicco Group, India.Harshbeena Zaveri, President, NRBBearings, India, was confident that Indiawill shed its gradualism. She believed thatthe new government – similar to what thelocal government of Gujarat did during thelast 10 years – will remove growth

barriers and provide a more conduciveenviron ment to tap into thus unrealisedpotential for accelerated economicgrowth. The Gujarat model ofdevelopment, named after the state thatNarendra Modi has led since 2002 as chiefminister, signifies high economic growthpropelled by a business-friendly regulatoryenvironment and large invest ments ininfrastructure necessary for promotion ofgrowth. Modi developed Gujarat into aState inclined towards dynamicdevelopment – good to invest in withfalling levels of institutionalisedcorruption.

Gunjan Sinha, Chairman, MetricStream,USA, identified several challenges for India.These include job creation, modernisationof the rural sector, more substantial invest -ment in education and skills development,more investment in infrastructure and aneed to liberalise the banking and insurancesectors. It is also necessary to lower thecost of doing business and infrastructuraldevelopment. Nazir Alli, Chief ExecutiveOfficer, South African National RoadsAgency, South Africa, argued that the newIndian economic development model shallalso focus on the country’s poor who arenot part of the formal economy.

‘A tax reform should replace existingstate and central levies with a uniformtax, boosting revenue collection whilecutting business transaction costs’Jyotsna Suri, Senior Vice President, FICCI and Chairperson, Bharat Hotels, India

Rajive Kaul, Chairman, Nicco Group, India

Nazir Alli, CEO, South African National Roads Agency Gour Saraff, Founder, Solar Global Services, Spain

Harshbeena Zaveri, President, NRB Bearings, India Gunjan Sinha, Chairman, MetricStream, USA

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The political reality of India is complex,dynamic and at time chaotic. ‘But Indiadesperately needs a bureaucracy whichexecutes decisions in a fair, consistent,predictable and timely manner,’ assertedSarvesh Kumar, Deputy ManagingDirector, RRB Energy, India. The newIndian government announced a freshround of major reforms in foreign directinvestment in the retail, aviation andinsurance sectors. ‘The reform package hassignalled a renewed intent by the admini -stra tion to escape the policy deadlock inwhich it was languishing,’ explainedManoranjana Sinh, Editor-in-Chief,Frontier TV, India. The panellists called fora redoubling of reform efforts to promotegrowth and create jobs. ‘Structuralreforms to bolster resilience to shocks arenecessary to increase India’s compe ti ti ve -ness,’ argued Ishan Raina, Founder andChief Executive Officer, ooh Media, India.

Throughout the Global India BusinessMeeting, in more than 20 sessions andnumerous private meetings, participantsdiscussed what policies and strategies cansupport India’s growth agenda as well asthe global aspirations of Indian firms.Sessions at the Global India BusinessMeeting examined how business leaders

can best stimulate the Indian economy andidentify growth opportunities in sectorssuch as infrastructure, energy and commo -dities, IT, real estate and healthcare.Panellists also explored a wide range oftopics, covering trade and investment, en -tre preneurship, branding and technology.

Some participants opined that India is stillnot an easy place to do business. Accordingto Harald Einsmann, Member of theSupervisory Board, Tesco, United King dom,’India’s ranks low on investment. Over -regu lation is a big problem,’ he said. ‘DespiteIndia’s continued economic success, thecountry has many inherent risks,’ fearedRajiv Biswas, Senior Director and AsiaChief Economist, HIS, Singapore.

Sarvesh Kumar, Deputy Managing Director, RRB Energy, India

Harald Einsmann, Member of the Supervisory Board,Tesco, United Kingdom

Rajiv Biswas, Senior Director and Asia Chief Economist, HIS,Singapore

Ishan Raina, Founder and Chief Executive Officer, ooh Media in discussion with Jochum Haakma,Director, TMF Group, The Netherlands

Manoranjana Sinh, Editor-in-Chief, Frontier TV, India

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‘Changing the fundamental character ofIndia’s traditional political economy is onlyone of the new government’s challenges,’reasoned Chayan H. Shah, ManagingDirector, Premier’s Tea, India. The govern -ment now has to take on many decades ofdensely elaborated entitlements, subsidies,formal and informal obligations, andbureaucratic trade-offs,’ proposed RajivVastupal, Chairman & Managing Director,Rajiv Petrochemicals, India. The urge totake timely decisions, which may be drivenby a desire to meet the high expectations,can potentially clash with institutionalrequirements and processes,’ conveyedSudhir Jalan, Chairman, Jalan Group,India.

‘Going forward, India must focus greaterattention on creating an environment thatattracts capital and leaves foreign investorsto play their role,’ proposed Arun Sharma,Chief Investment Officer, IFC, USA. ‘Thismeans providing a regulatory frameworkthat is seen as efficient and fair,’ addedMark Runacres, India Adviser, Confede -ration of British Industry, United Kingdom.‘I see strong foreign liquidity flows intoIndia within the next 5 years,’ voicedSushil Premchand, Managing Director,PRS Services, Switzerland. ‘Investors’sentiment is changing to the better. Manypotential investors wish the Indian govern -ment to relax policies defining foreign FDIand take measures to encourage invest mentsin manufacturing,’ reasoned VenkatRaman, Chief Operating Officer,Captiveway, Singapore. YajnanarayanaKammaje, President, Sona Group ofIndustries, India, explained that PrimeMinister Modi is planning to revitalisefiscal regimes across the financial andother sectors making laws clearer.

Sudhir Sharma, Chairman, MitkatServices, India, analysed the current statusof infrastructure in India. ‘There is agrowing gap in the investment required inthe infrastructure sector and the actual

Arun Sharma, Chief Investment Officer, IFC, USA– exploring the Future of Financial Services

General Sudhir Sharma, Chairman, Mitkat Services, India Kumar Iyer, British Deputy High Commissioner in Mumbai

Sudhir Jalan, Chairman, Jalan Group

Mark Runacres, India Adviser, Confederation of British Industry

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N.S. Bala, Senior Vice President, WiproTechnologies, India

investment undertaken,’ he said. Accordingto PV Ananthakrishnan, ExecutiveDirector, United Overseas Bank, India,‘India desperately needs more power,roads, railways, sanitation, irrigation andwater. ‘Indeed, India is looking at spendingaround USD 1 trillion over five years ininfrastructure,’ observed Paola Cuneo,Campaign Director, UKTI Graduate Entre -preneur Programme, United Kingdom.Still, India’s infrastructure continues to bea constraining factor. ‘Major inhibitors arethe slow pace of triggering projects, hurdlesin implementation, and the frequentchanging of regulations, observed Pierre-Marie Relecom, Managing Partner,Relecom Partners, France. ‘India’s busi nesshouses expect from the new governmentinitiatives to speed up the development ofinfrastructure,’ Shoummo Acharya,Chief Executive Officer, eTrans Solutions,India, demanded. According to WolfgangLehmacher, Managing Director, CVA,Hong Kong SAR, ‘consistent levels ofinvestment in logistics infrastructure arenecessary.’ ‘India – like other emergingmarkets in Asia and Africa – must do itshomework.

Michael Parkinson, Professor for UrbanAffairs, University of Liverpool, United

Kingdom, emphasised that urbanisationwas an essential ingredient for growth, andthat India needed to focus on a greaterurbanisation of its population. ‘Handled well,India can reap substantial benefits fromurbanization,’ Malcolm Smith, ArupFellow in Masterplanning and Urban Design,Arup, United Kingdom, announced.Hamira Riaz, President, H Riaz Consults,United Kingdom, commented that ‘someof India’s expected growth will come froma heavy urbanisation programme that washinted in the last public Census whichshowed 50 percent of households had noaccess to modern sanitation.’ India has toface up to a re-build and a new-buildprogram for 750 million people in the next

Joe Anderson, Mayor of Liverpool, in discussion with Minister Vince Cable

Shoummo Acharya, CEO, eTrans Solutions, India,asking a question

Wolfgang Lehmacher, Managing Director, CVA, Hong KongErica Kemp, Lord Mayor of Liverpool

Malcolm Smith, Arup Fellow in Masterplanning and Urban Design, Arup, United Kingdom

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two decades – demanding great fiscal andmanagerial resolve,’ said Amit Sarin, ChiefExecutive Officer, Anant Raj Group, India.‘The improvement in welfare of house holdsis contingent on the kind of infrastructurethat is put in place on the countryside,’proposed Karl Pilny, Managing Director,asia21 gmbh, Switzerland.

Mahesh Murthy, Founding Partner,Seedfund, India, set the tone for the sessionon innovation by noting that Indian entre pre -neurs are overhauling approaches towardinnovation to take part in the promise of anetworked global economy. ‘If you are in anecosystem where you don’t innovate, youwill be left behind,’ reasoned René Seifert,

Chairman, Venturate, Germany. ‘We entre -preneurs are uniquely positioned to fostergrowth in India as the global economyrecovers. But India needs to create an evenmore dynamic environment to unlock theentrepreneurship potential,’ claimedSanjay Kukreja, Managing Director,ChrysCapital, India. ‘India’s future growthwill depend increasingly on the knowledgeeconomy,’ Rajeev Mantri, ExecutiveDirector, Navam Capital, India, said.‘Science parks similar to what we builthere in Europe during the last few yearswill boost innovation and technologicaldevelopment in India,’ offered ValentinButyugin, Managing Partner, PSI CapitalGroup, Russia. ‘It is my hope that the newIndian government will focus on high-endresearch and innovation,’ voiced JeremyVincent, Chief Information Officer,Jaguar Land Rover, United Kingdom. ‘We need to ensure that innovative firmshave easy access to finance at an early stageof development,’ Kirill Slavin, GeneralManager, Kaspersky Lab UK, UnitedKingdom concluded.

Harjiv Singh, Founder and Chief Execu -tive Officer, Salwan Media, USA, high -lighted the importance of youth in anysociety, and emphasised the importance of

René Seifert, Chairman, Venturate, Germany, chairing a panel on venture capital

Harjiv Singh, Founder and Chief Executive Officer, Salwan Media, USA, hosting a session

Valentin Butyugin, Managing Partner, PSI Capital Group, Russia Karl Pilny, Managing Director,asia21 gmbh, Switzerland

Rajeev Mantri, ExecutiveDirector, Navam Capital

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young minds behind societal and economicprogress. He also explained how Indianyouth have transformed from a liability toa demographic dividend. ‘India’s youth isrelatively educated and ambitious, buttheir middle-class aspirations have stalledin a sluggish economy,’ juxtaposed NimishKenia, Founder, HappyPlanet Amusement,India. ‘Now, there is hope,’ said ShubhamAnand, Chief Executive Officer, iGBL,United Kingdom. ‘India’s youths, dubbedthe Modi generation, has the potential toremake not only the country’s economybut also the way it projects itself to theworld,’ he continued. ‘Young people reallydo want change,’ said Kai Vettel, Mana gingDirector, Pack Performance, Germany.

Rekha Sethi, Director General, All IndiaManagement Association, India, stressed theimportance of India’s commitment towardshigher education building on an alreadystrong technical base. Rehan Allahwala,Founder, Rehan School, USA, added that akey attribute of youth was having no burdenof the past and hence their ability to lookforward to the future. ‘Education is acountry’s most valuable asset,’ Jason L. Ma,Founder and Chief Executive Officer,ThreeEQ, USA, continued. According toAnjali Raina, Executive Director, Harvard

Business School India Research Centre,India, the country needs more focusedefforts to match the skills that are neededin fast evolving labour markets with thetype of education on offer in India.’ ‘Many young people entering secondaryeducation are unable to read, and sadly theypass through the system without gainingfurther abilities. Modern economiesdemands employees can read,’ said LordAlderdice, Convenor of the LiberalDemocrat Party, United Kingdom. HariKrishna Maram, Founder and ChiefExecutive Officer, Imperial College, India.suggested that 15 percent of India’s natio -nal budget should be spent on educationcompared to the existing 10 percent.

Lord Alderdice, Convenor of the Liberal Democrat Party, United Kingdom

Kai Vettel, Managing Director,Pack Performance, Germany

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Rekha Sethi, Director General, All India Management Association, making a point on education

Jeremy Vincent, Chief Information Officer, Jaguar Land Rover, United Kingdom

Hari Krishna Maram, Founder and Chief Executive Officer,Imperial College

Entrepreneurs – young or old – areuniquely positioned to foster growth inIndia as the economy recovers. ‘It is en cou -raging to see the number of people who arekeen to take the plunge into entrepreneur -ship,’ Rajeeb Dey, Founder and ChiefExecutive Officer, enternships.com,United Kingdom. According to JaideepPrabhu, Professor, Cambridge JudgeBusiness School, United Kingdom, ‘Indianentrepreneurs usually focus less on whatthe government could do for them – theysee how they can help themselves. ‘That’strue entrepreneurship. Entrepreneurship ispart of our DNA,’ added Ben Lambert,Strategic Director, Nexmo, United King -dom. ‘The next decade could be a goldenera of Indian entrepreneurship,’ reasoned

Shital Jagdish Somani, Co-Founder,Science for Society, India. ‘Conditions areprobably the best ever for us entrepreneurs,’claimed Sushma Berlia, President, ApeejayStya & Svran Group, India. Tech talentemerging out of India indicates in such adirection,’ voiced Parag Amin, FoundingDirector, iCreate, USA. Indeed, there is ahuge window of opportunity for youngentrepreneurs in India,’ Yatindra RSharma, Managing Director, KHS India,India concluded.

On India’s growing employment gap,Roberto Mugavero, Professor, Universityof Republic of San Marino, San Marino,commented that inflexible labour laws,which employers say tie their hands if theywant to reduce the size of their workforce,need an overhaul if India is to create thetens of millions of new jobs it. Also,according to Rajay Naik, Director ofGovernment and External Affairs, TheOpen University, United Kingdom, ‘smalland medium-sized businesses will providemore people with jobs. ‘Role models ofsuccessful rurally based firms are goodexamples that young entrepreneurs canfollow,’ said Krista Knopper, Director,Maastricht Education and Research Centre,India.

Rajeeb Dey, Founder and Chief Executive Officer,Enternships.com, speaking about education

Parag Amin, Founding Director, iCreate, USA

Sushma Berlia, President, Apeejay Stya & Svran Group, talking about the need for eduction in India

Zdzislaw Sokal, Member of theBoard (ret), National Bank ofPoland

Jaideep Prabhu, Professor,Cambridge Judge Business School

Shital Jagdish Somani, Co-Founder, Science for Society, India

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Ananth Narayan, Regional Head FinancialMarkets, Standard Chartered Bank, India,conveyed that ‘India’s economic competi -tive ness relies on a well-developed andsophisticated financial market that canchannel financial resources to a good use.’According to Shachindra Nath, GroupChief Executive Officer, Religare Enter -prises, India, the new government willneed to help state-run lenders battlingrising bad loans caused by the slowingeconomy, rising interest rates and projectdelays. ‘Stressed loans in India – either bador restructured – total 10 percent of allloans – this ratio is much too high,’Zdzislaw Sokal, Member of the Board(ret), National Bank of Poland, Poland said.Mikhail Treyvish, President, OmniGrade,Russia, estimated that ‘Russia and Indiaissuers have most downgrade risks inemerging markets.’ ‘I hope the newgovernment will further liberalise invest -ment provisions, financial services andbanking,’ opined V.P. Nandakumar,Chief Executive Officer, ManappuramFinance, India. ‘We now need to developand improve domestic capital markets,’added Amit Dev Mehta, Senior VicePresident, Tata Capital, India. According toBala Subramanian, Vice President, ITCInfotech, United Kingdom, ‘the decline in

inflation, more particularly non-foodmanufacturing inflation, will create morespace for India’s monetary policy to supportgrowth. The current account deficit,however, remains a source of concern,despite the fact that the financing of thedeficit has not been a problem so far. ‘India needs to offers financial solutions topreviously unbanked consumers,’ conclu dedGisele Mwepu, Chief Executive Officer,OKAPI Finance International, Sweden.

Ambitious Indian firms want to becomeglobal players, they increasingly investoverseas. From steel to cars, from IT toBollywood, Indian companies are settingthemselves up as powerhouses of tomorrow’sglobal economy. ‘The Tata Group is a good

Parineeta Sethi, Publisher, Millionaire Asia, IndiaKrista Knopper, Director, Maastricht Education and Research Centre and Shiv Pande MBE, United Kingdom

Mikhail Treyvish, President, OmniGrade, Russia

Shachindra Nath, Group CEO,Religare Enterprises

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example,’ said Subodh Bhargava,Chairman, Tata Communications, India.‘The group which acquired Tetley, Corusand Jaguar Land Rover and engaged in manygreenfield investments, has grown andadded numbers to the workforce it inheritedthrough acquisitions,’ he continued.

According to David Landsman, Director,Tata Limited, United Kingdom, the TataGroup is now the UK’s largest private sector

employer. ‘Like Tata, many Indian firms areincreasingly looking to invest abroad toaccomplish its motives of acquiring tech -no logy, resources or market share,’ saidSunil Kant Munjal, Jt Managing Direc tor,Hero MotoCorp, India. Bhav Singh, Presi -dent, Pearson English, United Kingdom,stated that ‘Indian firms have been usingdistinct ways to advance their presence onthe world map. The acquisition and develop -ment of global brands might be a fast routeto increase the credibility of Indian firms,and – in some case – much easier thanintroducing a brand to a new consumerbase.’ According to Lou Marinoff,Professor of Philosophy, The City Collegeof New York, USA, ‘Indian firms haveachieved only the first step towards globalintegration. They now need to shift from atraditional domestic strategy to a broaderglobal approach. And they have to makesense of a world characterized bypronounced fragility and heighteneduncertainty. Furthermore, they have toensure they incorporate global values intotheir thinking to create a globalized way ofdoing business. This is an important stepfor the continued healthy development ofIndian firms.’ Rajendra S Pawar, Chair -man, NIIT, India, agreed: It’s important toincreasingly leverage global value chains.’

‘Many Indian firms are increasinglylooking to invest abroad to accomplishits motives of acquiring technology,resources or market share’ Sunil Kant Munjal, Jt Managing Director, Hero MotoCorp, India

Subodh Bhargava, Chairman, Tata Communications –‘ambitious Indian firms want to become global players’

Meeting co-chair Sunil Kant Munjal, Jt Managing Director, Hero MotoCorp

Bhav Singh, President, Pearson English, UnitedKingdom

David Landsman, Director, Tata Limited, United Kingdom,making a point on globalization

Lou Marinoff, Professor of Philosophy, The City College ofNew York, hosting a plenary session

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Internationalization has been an integralpart of the recent economic progress madeby India. According to Tarun Gupta,India Representative, SIX Swiss Exchange,Switzerland, internationalization has playeda major role in export-led growth, leadingto the enlargement of the job market inIndia.’ What new strategies can help Indianfirms to internationalize more successfully?How to build global brands of Indian origin?’asked Max Steinberg, Chief Executive,Liverpool Vision, United Kingdom. ‘Oneof the major forces of internationalizationhas been in the growth of outsourced ITand business process outsourcing (BPO)services,’ explained Rajindre Tewari,Chairman, Europe India Business Council,The Netherlands. Seann Nelipinath,Chairman, India Chamber of Commerce,USA, commented that ‘entrepreneurs,business and innovation efforts in Indianeed to focus on sustainability, CSR andgovernance as they are key ingredients tosucceed in this globally connected worldand investors clearly focus on thisrequirements.’ Ranjit Vig, Managing

Director, CAAIR Travels, India, judged that‘Indian firms are rapidly gaining confidenceand are themselves now major players inglobalization through international expan -sion. ‘But India’s depth of globalization isstill lower than one would expect based ona cross-country estimates,’ juxtaposedOltmann Siemens, Member Internatio nalAdvisory Board, International FinanceForum, China. ‘I believe that one encoura -ging area is that we do see Indian entrepre -neurs trying to think how to exploit whatis going on with connectivity. The mobilerevolution in India is potentially very farreaching. Indian firms are developing newbusiness models, offering new productsand services,’ said Jitesh Gadhia, SeniorAdvisor, Blackstone Group, United

‘It is important to increasinglyleverage global value chains’Rajendra S Pawar, Chairman, NIIT, India

Closing plenary panel – Modelling Economic Growth

Jitesh Gadhia, Senior Advisor, Blackstone Group, United Kingdom

Rajindre Tewari, Chairman,Europe India Business Council,The Netherlands

Seann Nelipinath, Chairman,India Chamber of Commerce, USA

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Kingdom. ‘And they put forward thosetechnologies to the global market,’ addedSamuel Joseph, Chief General Manager,Export-Import Bank of India, UnitedKingdom. ‘Globalization is a two-waystreet. But I see India on the winning side,’concluded Brijesh Mishra, ManagingDirector India, RBS, India.

The share of service industries in globaltrade is rising steeply. India does offer ampleopportunities for this booming part of itseconomy. ‘The UK with its diverse serviceand creative sectors is a natural partner ofchoice,’ said Vikram Nair, Head ofEurope, Tech Mahindra, United Kingdom.Nearshoring provides a viable strategicoption for firms hesitant to move their

entire work offshore or for those who areunwilling to bear the high cost of onsitework. According to Anand Vyas, VicePresident, SQS Group, United Kingdom,nearshoring is now on the rise, with endusers sending processes to locations with acultural, regulatory and physical proximityto the end user either as part of a globaldelivery model.’ ‘Besides the benefits ofoutsourcing, geographical proximitydefinitively translates into easier accessand communication,’ said John B. Kidd,Research Fellow, Aston Business School,United Kingdom.

‘Sizable opportunities exist for British firmsthat can provide technology solutions tosupport India’s growth where the righttechnology solution can make a hugedifference,’ said Alok Sharma, Memberof Parliament, Parliament of the UnitedKingdom, United Kingdom. According toLord Diljit Singh Rana, President,Andras House, United Kingdom‘The UK and India now have a fast growingbilateral research partnership. Jointly-fundedprogrammes have broken through the£150 million barrier, up from £1 million 4 years ago.’ ‘This is bringing together thebest minds in both countries to tacklechallenges critical to both countries,’ said

Lord Diljit Singh Rana, President, Andras House, United Kingdom

The 2014 Global India Business Meeting was the sixth Horasis Meeting on India

John B. Kidd, Research Fellow, Aston Business School, UnitedKingdom, hosting a panel

Anand Vyas, Vice President, SQSGroup, United Kingdom

Samuel Joseph, Chief General Manager, Export-Import Bank of India

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S M Lodha, Chairman, Indsur, India. If theUK wants to pursue the India opportunity,then it must reach out to India moreconfidently and aggressively,’ disclosedJeffries Briginshaw, Managing Director,BritishAmerican Business, United King dom.‘The opportunity set in India for Britishbusinesses is large and significant,’ saidMukesh Rajani, Partner, PwC, UnitedKingdom. ‘India is growing – we are veryfocused on doing business with India,’Lindsey Ashworth, Managing Director,Peel, United Kingdom stated. ‘British firmsneed to get inside the psyche of young andmodern India,’ concluded Arvind Gupta,Managing Director, DPG Power Group,United Kingdom.

In a panel named ‘The Great Ambitions ofIndian Technology’, panellists examinedthe areas Indian technology companies arepioneering in and how they compete inworld markets. India’s IT and other newtechnology firms are emerging as globalplayers in their own right. India is greatlybenefiting from globalization and outsour -cing. According to Kevin Taylor, President,Asia Pacific, BT Global Services, UnitedKingdom, ‘India is now a mature economy,we are experiencing a trickle-down effectdue to the impressive technology output the

country has been creating over the lastcouple of years.’ Going forward, VijayaKoumar, Chief Executive Officer,Captiveway, France, suggested that Indiawould play a dominant role globally in thesupply of technology over the next tenyears.

Ratul Puri, Chairman, Hindustan Power,India, sensed that the world is on the brinkof the next industrial revolution based onrenewables and India is potentially on theforefront of developing alternatives tohydrocarbons, especially wind, thermaland solar power which could be promisingsources of energy. Still, ‘India has beenlagging behind other nations in the use ofrenewable energy,’ voiced Alan Rosling,

Reception at the Liverpool Townhall

Alan Rosling, Chairman, Kiran Energy, India

Kaustubh Bodhankar, Deputy CEO, Global IndiaFoundation, Singapore

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Chairman, Kiran Energy, India. ‘India’s needto promote more widespread adoption ofrenewable energy to help displace fossilpower generation and, in turn, limit green -house gas emissions that accelerate climatechange,’ Gour Saraff, Founder, Solar GlobalServices, Spain, said. Jan Siemons,Managing Director, Netherlands Councilfor Trade Promotion, The Netherlands,proposed that the new Indian governmentcan learn from the European experience ofecological development, implementing bestpractices in India.

The media is telling and disseminatingperceptions about India that the generalpublic assumes to be true. ‘Which of thesemyths are just that – myths – and which

are indeed reflections of reality?’ askedStephen Vasconcellos-Sharpe, Publisher,Country Strategic, United Kingdom. Weakgovernance and poor accountability haveprevented India from unlocking its fulleconomic and social potential. India’s per -formance on transparency and corruptionindices leaves room for improvement, withIndia ranking 95th on the CorruptionPerception Index. ‘The new administrationneeds to respond to the needs and aspi -rations of its citizens,’ felt S. Sittarasu,General Manager, MADC, India.‘Establishing a sense of accountability ingovernment and the development ofcapacities for enforcement must beaddressed,’ Roxanne Zigon, Fellow, GSDGeneva School of Diplomacy, Switzerland.

Many interviews were arranged on the sidelines of the event

Steve McCafferty, Director, IQE, Isle of Man Roxanne Zigon, Fellow, GSD Geneva School of Diplomacy,Switzerland

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Announcing the 2014 Indian Business Leadersof the Year, Horasis – together with ourstrategic partner PwC – celebrated sixoutstanding entrepreneurs who have beenbuilding and leading successful Indian firms:Rajendra S Pawar, Chairman, NIIT;Ajay Piramal, Chairman, Piramal Group;Deepak Premnarayen, Chairman, ICSGroup; and Amit Sarin, Chief ExecutiveOfficer, Anant Raj Group.

We recognized and honour those businessleaders as they excel in entrepreneurship,innovation and leadership. ‘The chosenleaders have decisively impacted theeconomic develop ment and globalintegration of India,’ said MukeshRajani, Partner, PwC, United Kingdom,who announced the award winners duringa plenary session.

The Indian Business Leaders of the Year, with Mukesh Rajani, Richard Oldfield and Frank-Jü� rgen Richter

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Mukesh Rajani, Partner, PwC, United Kingdom, announcing the Indian Business Leaders of the Year

Rajendra S Pawar, Chairman, NIIT, India

Amit Sarin, Chief Executive Officer, Anant Raj GroupDeepak Premnarayen, Chairman, ICS Group

Studying the programme

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A special plenary panel focused on MacMaharaj, Spokesperson of the Govern -ment of South Africa, and his unique con -tribution to world history. Mac Maharajwho was a member of the ANC’s armedwing was sent to Robben Island in 1964after being convicted of sabotage. There,he was imprisoned together with NelsonMandela. On his release in 1976, hesmuggled out the first draft of Mandela’sautobiography, Long Walk to Freedom. Hehelped to negotiate the transition to majorityrule and served as transport minister duringMandela’s presidency. Today, Mr Maharaj,is President Jacob Zuma’s spokesman.

Mac Maharaj emphasized in a dialogue ledby Deepak Premnarayen, Chairman,ICS Group, India, that he was convinced bythe need for reconciliation and forgivenesswhen the ANC assumed South Africa’sleadership in 1994. ‘Revenge was not ourmotivation,’ he said. ‘Change must alwaysbe accompanied by the crafting of a new

vision,’ he added. ‘In our case, this newvision was that of a new multiracial anddemocratic South Africa.’ The session alsoexamined how to ensure inclusive growth,in South Africa, India and elsewhere.According to Mac Maharaj, economicgrowth has to go along with an equally highrate of poverty reduction. Commenting onIndia, he argued that ‘the elasticity ofpoverty reduction with respect to eco -nomic growth is lower in India than inother emerging markets.’ ‘A new vision ofgrowth shall be focused on achievinginclusive prosperity,’ he believed. In theirconversation, Maharaj and Premnarayenalso examined why some countries descendinto violence and some not – ‘it has all todo with leadership,’ they concluded.‘Revenge was not our motivation.

Change must always be accompaniedby the crafting of a new vision’Mac Maharaj, Spokesperson of the Government of South Africa, South Africa

Mac Maharaj – ‘a new vision of growth shall be focused on achieving inclusive prosperity’

Mac Maharaj with delegates from India

Didar Singh, Secretary General, FICCI, calling for closer economic engagement between India and Europe

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Raj Ajmera, Founder, ACE Insurance

The 2014 Global India Business Meetingwas wrapped up during the gala dinner atthe Liverpool Town Hall, the iconic land -mark of the City of Liverpool. An occasionto revel in newly-forged networks andfriendships, the dinner session offeredinteresting debates and reflections. ‘Thestrategic partnership with the UnitedKingdom is of great importance to Indiaand one in which both countries arecontinuing to invest,’ Shashi Tharoor,Member of Parliament, Former UnionMinister, India, told participants duringthe dinner session. On India’s economicprospects he said that ‘while the economicturnaround won't be quick, the ongoingreform process is reason to hope. It is stilltoo early to tell, but the initial stepstriggered by the new government arerather encouraging.’ Didar Singh, SecretaryGeneral, FICCI, India, called for closereconomic engagement between India andEurope, especially in the area of educationand trade. Ged Fitzgerald, Chief Exe -cutive, Liverpool City Council, UnitedKingdom, said in his closing remarks thatLiverpool exemplifies the spirit of dialogueand global economic growth. He said theGlobal India Business Meeting was witnessto a large number of B2B meetings that willpave the way for the UK’s trade with India.

On behalf of Horasis, I would like topersonally thank Joe Anderson, Mayor ofLiverpool, who generously agreed to act aspatron of the 2014 Global India BusinessMeeting. I also thank the organizers of theInternational Festival for Business, forbringing this year’s edition of the meetingto Liverpool. For their leadership andguidance, I am grateful to our co-chairs,co-organizers, partners and participants.

‘While the economic turnaround won’tbe quick, the ongoing reform process isreason to hope’Shashi Tharoor, Member of Parliament, Former Union Minister, India

Shashi Tharoor, Member of Parliament, Former Union Minister, India

Ged Fitzgerald, Chief Executive, Liverpool City Council, hosting the closing dinner

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‘This Global India Business Meeting was aunique experience which would not havebeen possible without the dedication andenthusiasm of all participants, from Indiaand beyond,’ summarized Jiten H. Doshi,Founder and Chief Investment Officer,Enam Asset Management Co. India.

I personally believe in a promising future forIndia. The country has all the ingredientsto become one of the world’s economicpowerhouses. And it is my hope that theGlobal India Business Meeting will conti nueto serve as an important platform forstimulating thought and creative solutions.

Horasis looks forward to welcoming youback at next year’s edition of the GlobalIndia Business Meeting. I also take greatpleasure to invite you to take part in ourother upcoming meetings, namely theGlobal China Business Meeting, the GlobalRussia Business Meeting and the GlobalArab Business Meeting.

Dr. Frank-Jürgen RichterChairmanHorasis: The Global Visions Community

Gathering of minds

Danielle Thomas, a Mezzo Soprano from Liverpool, performing during the closing dinner

Frank-Jü� rgen Richter, Chairman, Horasis, Switzerland

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The Hindu Business Line, 24 June 2014

A British minister has urged India to‘surrender’ some of its cards in thestalemate over the Free Trade Agreementwith the European Union. ‘India holdsmost of the cards in the negotiations,’Greg Barker, the Conservative Ministerof state for Energy and Climate Changetold a gathering of Indian business leadersin the British city of Liverpool on Sundayevening.

Urging India to open up sectors, he insistedthat there was more room for negotiationon India’s part than Europe’s. ‘We aremore liberal than Indian. We have alreadyliberalised,’ he said.

Promising to push forward discussions onthe FTA, which has stalled because of a lackof agreement on a wide range of issues, heinsisted, ‘We are ready to conclude a treaty.’

Talks on an EU-India FTA commencedback in 2007 but disagreements over anumber of issues – the free movement ofprofessionals within the service sectoracross the EU demanded by India, and thelowering of barriers in a number of

sectors ranging from the legal to retail –has meant that discussions have failed toprogress.

High Commissioner to the UK RanjanMathai said that India had changedenormously against old European pre-conceptions of it and was ready to engage.He urged the EU to take note of India.‘The EU needs to change its attitude toIndia a little … India has now arrived,’ hetold delegates.

Barker also addressed the opportunities forincreasing India-UK trade: while two-waytrade has increased significantly over thepast few years to around $15 billion itremains far from the target set by the UKgovernment when it came to power in2010 of raising it to the region of $24billion.

The next major opportunity for growthcame from the Bangalore Mumbai EconomicCorridor, on which a feasibility study iscurrently under way. ‘It offers a realopportunity for India and the UK to buildon its partnership and build a 21st centurypartnership,’ he said.

UK urges India to ease stance in talks on EU FTA

Participants visit Anfield, Liverpool FC’s iconic football stadium

Vijaya Koumar, Chief ExecutiveOfficer, Captiveway, France

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At the changing room of FC Liverpool Ranjit Vig, Managing Director, CAAIR Travels, India

The 2014 Global India Business Meeting was part ofInternational Festival for Business (IFB)

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Neetu Mehta, ManagingDirector, Pulse Nation Media

Participants registering for the Global India Business Meeting Participants arrive at the Liverpool Townhall for the closing plenary

Liverpool City Hall – venue of the closing dinner

Liverpool dock

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Horasis: The Global Visions CommunityThurgauerstrasse 40CH-8050 ZurichSwitzerland

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www.horasis.org