Skip to content
Search
Please enter at least 3 characters.

Latest Stories

UKIBC launches socio-economic impact campaign

THE UK India Business Council (UKIBC) has launched a campaign to highlight the importance of the socio-economic impact that the UK businesses make in India.

This campaign is being delivered in partnership with the United Nations Development Programme (UNDP), and will map the activities of businesses and universities against the UN’s sustainable development goals.


Key findings and observations from the campaign will be compiled into a report to be released in late 2020 to coincide with the UN climate change summit in Glasgow.

The UNDP-UKIBC partnership will facilitate mapping of the UK businesses' socio-economic impact against the 17 sustainable development goals, which are aimed at eliminating poverty and ensuring prosperity, ranging from environmental sustainability to advancing education.

Richard Heald, Group Chief Executive, UKIBC, said: “The UK businesses and universities want to succeed in India, and their definition of success includes helping India achieve its socio-economic objectives. This is an exciting time to launch this campaign.

“Across the world, there is a growing acceptance of sustainable development as an over-arching policy goal, which has stimulated interest in assessing the impact of businesses.

“These issues are no longer just the government’s responsibility, or purely philanthropic efforts. So, any global business looking for an effective path for growth should bring social impact into the core of its strategy and operations…”.

Shoko Noda, UNDP Resident Representative in India, said: “Given its rising world power status and prominent role in the formulation of sustainable development goals (SDGs), India arguably has a special duty to bring these goals to fruition. It is encouraging that Prime Minister Modi has affirmed India’s strong commitment to the SDGs”.

“Shepherding the achievements of the SDGs is an enormous task that requires the involvement of every sector and each level of society. The experiences of many countries clearly illustrate India needs to build a socio-economic infrastructure to drive this inclusive growth.”

More For You

JLR-Tata-Getty

JLR had initially planned to manufacture more than 70,000 electric vehicles at the facility. (Photo: Getty Images)

JLR halts plan to build EVs at Tata’s India plant: Report

JAGUAR LAND ROVER (JLR) has put on hold plans to manufacture electric vehicles at Tata Motors’ upcoming £775 million factory in southern India, according to a news report.

The decision was influenced by challenges in balancing price and quality for locally sourced EV components, three of the sources said. They added that slowing demand for electric vehicles was also a factor.

Keep ReadingShow less
Government to abolish payments regulator to boost growth

Keir Starmer (R) and Rachel Reeves host an investment roundtable discussion with members of the BlackRock executive board at 10 Downing Street on November 21, 2024 in London, England. (Photo by Frank Augstein - WPA Pool/Getty Images)

Government to abolish payments regulator to boost growth

PAYMENTS REGULATOR will be abolished and its remit absorbed by another financial regulator, the government said on Tuesday (11), as it aims to cut red tape in favour of growth.

The Payment Systems Regulator (PSR), which oversees systems including MasterCard and bank transfers, tackles problems such as fraud, excessive fees and lack of competition among banks and payment providers.

Keep ReadingShow less
Boohoo

Boohoo’s shares, which have fallen by about 20 per cent this year, dropped 4 per cent on Tuesday. (Photo: Getty Images)

Boohoo rebrands as Debenhams after 21 per cent sales drop

BOOHOO has rebranded itself as Debenhams Group after sales from its young fashion brands, including Boohoo, MAN, and PrettyLittleThing, declined by 21 per cent to £947 million.

The move comes amid strong competition from Shein and a shift towards second-hand clothing among younger shoppers, The Guardian reported.

Keep ReadingShow less