Insights from IGF London 2024 on UK-India relations

Wednesday 03rd July 2024 06:37 EDT
 
 

The 6th edition of India Global Forum, themed 'Pathways to a Limitless Future', convened global leaders, entrepreneurs, and investors in London and Windsor. Featuring over 300 speakers and 2,000 participants across 15 events, including the IGF Forum, Climate & Business, WomenIN, Culture and Creativity and the 6th UK-India Awards, the week-long event showcased India, the UK, and their global partners' collaborative efforts in technology, trade, culture, and commerce.

The inaugural session of IGF London 2024, delves into the outcome of the Indian elections and looks ahead to what it means for the bilateral relationship, besides analysing the wider geopolitical implications. 

Manoj Ladwa, Founder and Chairman, India Global Forum (IGF), said: “As we gather against the backdrop of democratic milestones in the world’s oldest and largest democracies, we have a unique opportunity to turn uncertainty and the headwinds of change into opportunities. As we enter a new era in UK-India relations, we need new ideas—not just for these two nations, but for global partners.

“This week, IGF London will be a catalyst for ideas, collaborations, and conversations, driving innovation, economic growth, and social progress worldwide. Leveraging this bilateral relationship's unique shared values and strengths, we aim to tackle global challenges and create a collaborative platform for a brighter future. Together, we can build pathways to a limitless future.”

The day began with India's newly sworn-in Minister for Railways, Information & Broadcasting, Electronics & IT, Ashwini Vaishnaw, delivering his first global virtual address since the national elections. He outlined the immediate priorities of the Modi 3.0 Government, emphasising the renewed mandate as a testament to the people's confidence in Prime Minister Modi and NDA policies. Ashwini highlighted how this reaffirmed faith in democracy has countered critics who previously doubted its strength.

Sanjeev Sanyal, Member of the Prime Minister’s Economic Advisory Council and head of the Bharatiya Janata Party’s Foreign Affairs Department, joined Vijay Chauthaiwale in a panel discussion following Minister Ashwini Vaishnaw's address, delving into India’s political and economic trajectory. Vijay emphasised India's diversified foreign policy, asserting that national interests will drive future engagements. Sanjeev highlighted India's improved business environment, stating, “Doing business in India is becoming significantly easier.”

Shadow Foreign Secretary David Lammy used his speech at India Global Forum’s IGF London 2024 to address the re-elected Modi Government, describing India as a pivotal Asian power. Lammy urged a reset in UK-India relations, advocating for a robust security partnership and urging swift progress on a trade deal. He criticised the Conservative Government for unfulfilled promises, urging his counterparts to seize the opportunity for a free trade agreement.

Former Minister of Women and Child Development, Smriti Irani, reflected on her political journey at the IGF Stage. Recounting her historic defeat of the sitting president of the Indian National Congress, Smriti emphasised resilience in politics, saying, “If you are a woman, you need to look like a girl, behave like a lady, work like a horse, and think like a man.” She encouraged women worldwide to seize opportunities and think on their feet for greater success.

Bestselling authors Amish Tripathi and Lord Jeffrey Archer launched the prestigious IGF Archer-Amish Award for Literature. Lord Archer highlighted the significance of awards in recognising hard work, while Amish underscored the award's focus on storytelling in contemporary Indian fiction, aiming to encourage impactful narratives.

In the concluding session of the first event, the audience heard an inspiring fireside chat with Dr Deepa Malik, who won India a silver medal in the 2016 Paralympic Games among several other medals. She shared about her harrowing cancer diagnosis at age 5 and then again at 29, the treatment for which left her paralysed below the waist.  “I wanted to prove the nay-sayers wrong by doing extraordinary activities like riding a bike or joining the first ever cricket team of Rajasthan,” said Malik.

Climate forum drives change and green financing

During the 5th edition of the India Global Forum’s Climate and Business (ClimB) Forum, in partnership with Bloomberg on Day 2, critical discussions on climate financing and energy transition took centre stage. Amit Kalyani, Vice Chair and Joint Managing Director of Bharat Forge, challenged the prevailing electric vehicle (EV) strategy, arguing against China's battery-based model. Instead, Amit proposed integrating inductive electric charging into new highway construction in India.

Julia Hoggett, CEO of the London Stock Exchange, stressed the urgent need for substantial green financing in India, crucial for the global energy transition. She highlighted India's requirement for a significant increase in green financing, projecting a need of 2.5% of GDP by 2030, rising to trillions for the transition to net zero.

Kate Hampton, CEO of the Children’s Investment Fund Foundation (CIFF), underscored the cost-effectiveness of clean energy and the need for a global financial system to facilitate net inflows. Commending India's Disaster Resilient Infrastructure initiative, Kate noted the leadership of emerging and developing economies in climate solutions, driven by shared climatic challenges and infrastructure needs.

Rahul Munjal, Chairman and Managing Director of Hero Future Energies, discussed the potential of green hydrogen, highlighting its feasibility in smaller projects while expressing doubts about large-scale readiness. The forum emphasised innovation, global cooperation, and strategic financing to advance sustainable energy solutions.

The London Stock Exchange hosted the inaugural Global Investors Forum by the India Global Forum (IGF), highlighting significant strides in UK-India economic relations. Top investors gathered to explore collaborative opportunities for sustainable growth.

Discussions on cutting edge topics

As part of IGF London 2024, the IGF Studio features live discussions on cutting-edge topics like tech, climate, macroeconomics, geopolitics, healthcare, and culture, with sectoral experts and analysts. Dr Surjit Bhalla, former Executive Director at the IMF, highlighted India's current economic strength during a session titled 'India’s Resilience Amidst Global Turmoil' at the India Global Forum’s IGF Studio. He expressed confidence in India's sustained growth trajectory in the coming years.

Surjit expressed confidence in India's ideal political, economic, and international positioning, foreseeing policies that capitalise on this advantageous "sweet spot" for the next decade.

The theme resonated with panelists like Chris Rogers of S&P Global Market Intelligence and Dr Vijay Chauthaiwale of the BJP, who highlighted India's recent elections as crucial for stable growth. Discussions also covered technology's role in climate action and AI's impact on future work environments, emphasising workforce readiness amid ongoing changes.

On Day 3 of India Global Forum in London, a session titled ‘Back to the Future? Embracing Holistic Healthcare’ concluded with the assertion that Ayurveda offers profound insights for modern health. Entrepreneur Faizal Kottikollon emphasised Ayurveda's relevance in today's context, highlighting its foresight into personalised medicine and cell therapy. Dr Michael Dixon of the UK’s College of Medicine underscored Ayurveda's historical precedence over Hippocrates, advocating for its integration to address modern health challenges. The session also explored mental health and global health security in the context of climate change.

The event concluded with a series of engaging and inspiring conversations featuring notable figures: India’s Olympic Gold-winning shooter Abhinav Bindra shared insights on resilience in the face of adversity. Actor-philanthropist Vivek Oberoi discussed his family’s Project Devi initiative aimed at empowering women. Pragya Prasun Singh of Atijeevan Foundation highlighted her advocacy for burn victims. Dr Arunachalam Muruganantham, Founder & CEO of Jayashree Industries and advocate for female menstrual health, shared his journey as the inspiration behind the film ‘Pad Man’ starring Akshay Kumar.

Celebrating creativity, innovation, and global partnerships

Actor Nawazuddin Siddiqui captivated the audience on the fourth day of the India Global Forum’s 3rd Culture and Creative Economies Forum. Sharing insights from his career, Siddiqui praised the unique silence on the set of McMafia, a British crime drama series, highlighting its impact on his performance. He contrasted this with his experiences in Bollywood, noting the challenges of noisy sets. Reflecting on his roles, including portraying a transgender woman in the film Haddi, Nawazuddin emphasised the importance of depicting character flaws realistically in biopics.

Prasoon Joshi, Chairman of the Film Certification Board, highlighted balancing originality with respecting cultural narratives and cautioned against overshadowing shared cultural truths in modern storytelling.

Actor Aditi Rao Hydari, with a diverse filmography across languages, views cinema as transcending regional boundaries. "I’ve never categorised cinema by region; it’s about connecting with audiences emotionally," she shared. "Whether it’s Tamil, Telugu, Malayalam, or Hindi, the director and the storytelling matter most to me. I’m glad regional films are gaining recognition for their excellence and diverse storytelling voices in our syncretic country."

The 6th Annual UK-India Awards celebrated outstanding contributions to the UK-India partnership with glamour, style, and power networking. Manoj Ladwa, CEO and Founder of IGF, highlighted India's transformation benefiting both nations, emphasising the UK's potential as a key partner. He praised the UK's strengths in universities, research, supply chains, sports, technology, defence, security, and financial services.                                                                                         

The UK-India Awards 2024 celebrated excellence across diverse fields with honors for outstanding achievements in various categories. AZB & Partners received the Legal Practice of the Year award, while Grant Thornton was recognized as Consultancy Firm of the Year. Tata Group’s Agratas won Investment of the Year, and Zydus Lifesciences was named New Market Entrant of the Year. BT Group received the Social Impact Project of the Year award, and the Serum Institute of India and Oxford University jointly won the Research & Innovation Award. Ola Electric was honoured with the WomenIN Leadership Award, while Teamworks Arts received the Culture and Creativity Award. The Science Museum Group was acknowledged for its Significant Contribution to UK-India Relations, and Lord Anthony Bamford received the Lifetime Contribution to UK-India Relations award. Arunachalam Muruganantham was celebrated with the Global Indian Icon Award, and special recognition awards were presented to Abhinav Bindra and Dr Deepa Malik.
IGF London concluded with its third Founders and Funders Retreat at Fairmont Windsor Park, gathering global founders and funders to discuss emerging technologies like artificial intelligence (AI) and their transformative potential in various sectors. Addressing concerns about AI's impact on jobs, Chris Jones from FCDO emphasised that while AI won't replace jobs, its effective utilisation by humans is crucial.


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