UK is India's partner in innovation and business: British envoy

97 pc of Indians applying for a business visa get one, says British envoy Ian Felton

BANGALORE,INDIA: The role of government is that of an enabler -- listening to companies and setting a positive policy environment, said British deputy high commissioner Ian Felton at the inaugural of CII's 9th India Innovation Summit in Bangalore on Wednesday.

Felton said the UK is among the world's top research nations --- leading innovations, with an excellent research and entrepreneurial ecosystem. Therefore, it is natural that the UK can be India's partner of choice in innovation and business, he added. An example of UK-India partnership is the initiative of Imperial College, Indian Institute of Science and Indian Institute of Technology that has helped global engine major Rolls-Royce to develop a low-noise technology to make engines less noisy.

India leads the group of Central and Southern Asian countries in innovation and Indian firms must capitalise on the UK's "Patent Box" initiative, where there are tax advantages to encourage innovative companies to locate in the UK (if they are creating high-value jobs and activity associated with the development, manufacture and exploitation of patents in the UK). He added that the UK tax system is the most competitive in the G20. The main rate of Corporation Tax is being lowered to 20 pc by April 2015 the joint lowest level in the G20 (others are Saudi Arabia, Russia, and Turkey).

The Technology Strategy Board (TSB) is the main channel through which the UK government supports business-led technology and innovation. Over the next few years, the TSB will invest over £1 billion in high-technology sectors. This includes creating a network (Catapult Centres) to commercialise new and emerging technologies: covering high value manufacturing, cell therapy, offshore renewable energy, satellite applications, connected digital economy, future cities and transport systems.

Felton announced that the TSB and India's Global Innovation and Technology Alliance, a joint CII and Department of Science and Technology initiative, will publish a call for joint industrial research proposals later this month. Under the UK-India Education and Research Initiative the TSB's successful Knowledge Transfer Partnership scheme will also be brought to India in a few months. The aim is to use a tested method to help academia and industry work together.

"In September, the UK-India Oncology trade delegation will focus on innovation. There is a lot of R&D going on across the world in cancer medicines. Innovation is important to make this research and treatment affordable and accessible to all. This is the focus for their discussion in Bangalore," he added. The UK is the ‘partner country' for this CII event and Richard Cawdell, Healthcare Tech Lead, AcceleratorIndia, will take part in a session dedicated to cross-border collaboration on Thursday at the CII summit.

Speaking on visa issues, Felton said most people who want a UK visa get one. He highlighted that 97 pc of Indians applying for a business visa get one.