Category: Press Release

Ahmedabad (Gujarat) [India] November 14: Lincoln Pharmaceuticals Limited, one of India’s leading healthcare companies has reported standalone net profit of Rs. 50.03 crore for the half year ended 30^th September 2024, growth of 7.55% Y-O-Y as compared to the net profit of Rs. 46.52 crore in H1 FY24. Income from operation for the H1 FY25 was reported at Rs. 308.50 crore, higher by 5.79% Y-O-Y over H1 FY24 income from operation of Rs. 291.61 crore. EBITDA for the H1 FY25 ended September 2024 was reported at Rs. 71.50 crore as compared to Rs. 68.25 crore EBITDA in H1 FY24 registering growth of 4.76% Y-O-Y. EPS for H1 FY25 was reported at Rs. 24.96 per share.

Highlights:

• Approved dividend of Rs. 1.80 per share for the FY23-24 at the 30th AGM held on 30th Sep 2024
• Foreign Institutional Investor gradually increased stake in the company to 5.19% as on 30th Sep. 2024
• Company is also among a very few companies to achieve a profit growth every single year from FY13 to FY24.

Shareholders at the 30^th Annual General Meeting (AGM) approved a dividend of Rs. 1.80 per share (18%) for the FY 2023-24.

As of September 2024, Foreign Institutional Investors (FIIs) have steadily raised their holding in the company to 5.19% from 2.59% as on September 2023. The company aims to reach a revenue target of Rs. 750 crore by FY26 through focused growth strategies, business expansion into high-value product lines, and entry into new markets. Company is also among a very few companies to achieve a profit growth every single year from FY13 to FY24.

Financial Highlights (Standalone)

(Amount in Cr except EPS)

	H1 FY25	H1 FY24	Y-O-Y	FY24	FY23	Y-O-Y
Total Income	328.88	307.99	6.78%	614.97	532.78	15.43%
EBITDA	71.50	68.25	4.76%	134.33	111.68	20.28%
Profit before Tax	64.26	62.32	3.11%	122.24	100.48	21.66%
Net Profit	50.03	46.52	7.55%	93.30	72.90	27.98%
E.P.S (Rs. )	24.96	23.30	7.12%	46.58	36.40	27.97%

Commenting on the results and performance, Mr. Mahendra Patel, Managing Director, Lincoln Pharmaceuticals Limited, said, “We are pleased to report continued strong growth across all business verticals H1 FY25, while maintaining a net debt-free status. Our new product launches in domestic and export markets have strengthened our market presence and accelerated growth, positioning us for even better performance during the second half of the year. Through a combination of robust growth initiatives, high-quality products, geographic expansion, and operational improvements, we are on track to achieve our ambitious Rs. 750 crore revenue target by FY26. Notably, we are among a select group of companies that have consistently achieved profit growth every year from FY13 to FY24.”

The company’s expansion strategy involves registering new products for export, increasing its market presence, and leveraging its state-of-the-art manufacturing facilities to meet international standards.

In FY25, company will continue to expand its global and regional footprints while building a strong portfolio in lifestyle and chronic segment especially women healthcare, dermatology to complement its strong presence in the acute segment. The liquidity position of the company is on a strong foundation, supported by healthy cash accruals, no-term debt, and healthy return ratios. Committed to R&D and innovation, company has a strong lineup of over 1,700 registered products and 700 more in development.

Lincoln Pharma exports to 60+ countries spanning East & West Africa, Central & North America, Latin America, and Southeast Asia. With recent entry into the Canadian market and approvals from TGA – Australia and EU GMP, the company is poised for further global expansion, while also aggressively pursuing product registration for its Cephalosporin plant in Mehsana. These initiatives align with the company’s revenue target of Rs. 750 crore for FY26.

Lincoln Pharma has a state-of-the-art manufacturing facility unit at Khatraj in Ahmedabad, Gujarat, complying with stringent international quality and compliance norms and certified by EUGMP, TGA, WHO-GMP; ISO-9001:2015, ISO-14001:2015 and ISO-45001:2018. Company has developed 600 plus formulations in 15 therapeutic areas and has a strong product/brand portfolio in anti-infective, respiratory system, gynaecology, cardio & CNS, anti-bacterial, ant-diabetic, anti-malaria among others. Company has filed 25 plus patent applications and is awarded with seven patents.

About Lincoln Pharmaceuticals Limited

Providing Affordable and Innovative medicines for healthier lives.

Lincoln Pharmaceuticals Limited is one of the leading healthcare companies in Gujarat, India. Established in the year 1979, the company develops and manufactures affordable and innovative medicines for healthier lives. The company has developed 600 plus formulations in 15 therapeutic areas and has a strong product/brand portfolio in anti-infective, respiratory system, gynaecology, cardio & CNS, anti-bacterial, anti-diabetic, anti-malaria among others. Company has over 1,700 registered products and another 700 in pipeline. The company has its strong presence in Domestic market with good strength of own field force and also exports to more than 60 Countries.

Company has developed many new drug delivery dosage forms over years and has a track record of launching many first-of-its-kind innovative products. Company works with vision for nurturing innovations and bringing them to Indian patients at affordable cost to create “Healthcare for All”.

Lincoln Pharma has two state-of-the-art manufacturing facility units at Khatraj in Ahmedabad and Mehsana, Gujarat. Company’s manufacturing facilities comply with stringent international quality and compliance norms and certified by EUGMP, TGA, WHO-GMP; ISO-9001:2015, ISO-14001:2015 and ISO-45001:2018. Company is engaged in manufacturing of pharma formulations like Tablets, Capsules, Injectables, Syrups, Ointments, etc.

Company’s key strength is embedded in its cutting-edge research and development capabilities. The company has a strong R&D team including 30 plus scientists. It has filled 25 plus patent applications and is awarded seven patents. R&D facility of the company is recognised by the Department of Scientific and Technology, Government of India and furnished with state-of-the-art devices and equipment for internal physical, chemical and microbiological analysis of all products.

Company has a strong presence in the domestic market nationally with a dedicated field force of over 600. Company has a wide national distribution network through 21+ Super Stockist in 26 states across India.

Going green, company has also set up a new Solar Plant of 1 MW at factory’s rooftop in addition to two windmills. This way we are producing renewable energy to our consumption nearly 65% resulting significant saving in the electricity cost and helped the company to become a self-sustainable and environment-friendly organization.

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New Delhi [India] November 14: Rajalakshmi Institute of Technology (RIT) has signed a Memorandum of Understanding (MoU) with the School of Design Thinking. The agreement unites both institutions in their mission to train a new generation of thinkers and problem-solvers equipped with skills in design thinking and technology.

The MoU was signed by Dr. Haree Shankar Meganathan, Vice Chairman at Rajalakshmi Institutions, and Dr. Anbu Rathinavel, Head of the School of Design Thinking and Chief Design Officer of Intellect.

Dr. Haree Shankar Meganathan commented, ““We’re excited about the future of Indian product companies on the global stage, and we believe design thinking empowers our graduates to create world-class, user-focused solutions. We also believe Design Thinking will significantly increase employability and help in their entrepreneurial journey. Our collaboration with School of Design Thinking is a step in this direction”

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New Delhi [India], November 14:  Nikhil Palli, Managing Partner of Palli Law Firm, was awarded the prestigious Avicenna Medal by His Highness Prince Philipp of Liechtenstein at a distinguished ceremony at Westminster Palace’s House of Lords. Princess Isabel joined in honoring Palli’s exceptional contributions to international law, dispute resolution, and debt recovery.

The Avicenna Medal honors individuals who significantly advance humanity. Named after the Persian polymath Avicenna, it was founded by the late Tony Buzan and celebrates intellectual curiosity and dedication.

Prince Philipp, a prominent member of the Princely House of Liechtenstein, one of Europe’s oldest noble families dating back to 1136, honored Palli’s impact. Known for promoting excellence and innovation, Prince Philipp’s involvement underscored the importance of international collaboration and the recognition of leaders advancing global justice. In his citation, he stated: “In recognition of his global legal expertise in international dispute resolution and debt recovery, Nikhil Palli is awarded the Avicenna Medal. His exceptional skills have resolved complex international legal challenges, promoting justice and stability across borders. Nikhil’s commitment to excellence and his profound understanding of international law have advanced the legal profession and facilitated fair and equitable outcomes on a global scale. His achievements embody the highest standards of legal practice and scholarship.”

In his acceptance speech, Palli expressed gratitude, “ I am deeply honored to receive the Avicenna Medal. This recognition reflects my team’s dedication and the unwavering support of clients worldwide. International law transcends dispute resolution; it fosters justice and understanding on a global scale.”

The ceremony in the House of Lords, attended by notable guests from law, royalty, and global innovation, highlighted the impact of Palli’s work in advancing international justice and legal scholarship.

Educated globally, Palli holds an LLM in Comparative and International Dispute Resolution from Queen Mary University of London and has done his schooling at the prestigious Delhi Public School, RK Puram, Delhi, India. His fluency in English, German, Hindi, and Punjabi enables seamless communication across cultural and linguistic barriers.

In addition to his professional achievements, Palli is a dedicated social advocate, providing pro bono legal support to marginalized communities, including defending families against unlawful demolitions and aiding women students in legal battles for educational access. As an active member of the Young Indians Confederation of Indian Industry (CII), he engages in initiatives aimed at poverty alleviation, road safety, and entrepreneurship.

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New Delhi [India], November 14: The All India Batuk Bhairav Bhakt Mandal, under the leadership of National Saint Dr. Vasant Vijay Ji Maharaj, Peethadhishwar of Parshva Padmavati Shakti Peeth Dham, Krishnagiri, Tamil Nadu, is set to organize a grand Bhairav Ashtami Festival from November 15 to November 23. The nine-day event, to be held at the Dussehra Ground in Neemuch, promises to be an extraordinary convergence of devotion and cultural heritage.

Drawing devotees from 27 states and 12 countries, the festival’s centrepiece will be a colossal 84,000 sq. ft. rangoli spanning nearly 2 acres. This vibrant masterpiece will feature portraits of prominent spiritual leaders and national icons, symbolising India’s dedication to social harmony and unity and its resolute stand against terrorism. The creation aims to showcase the depth and diversity of Indian art and culture on a global platform while securing a place in over 50 prestigious world record organizations.

The ambitious initiative reflects a commitment to highlight India’s cultural richness and is expected to set a significant milestone in the nation’s pursuit of global recognition.

According to Dr. Vasant Vijay Ji Maharaj, “The Kasht Haran Mahayagya and spiritual discourses held during Bhairav Ashtami carry immense significance. The aim is to safeguard the country from potential economic crises and pandemics. This Yagya will not only be for the prosperity and peace of the nation but also spread the light of devotion and faith among the devotees.”

Another highlight of the event will be the offering of 2024 types of divine sweets to Bhairav Dev. The eight-cornered Mahayagya, discourses, and free meals for devotees will be organized throughout the event. The ritual will involve 46 learned priests, with 11 officiating in the main sacrificial pit and five each in the remaining seven, continuously performing prayers for nine days. Devotees can register for free to be part of this spiritual event.

The festival will also see participation from numerous dignitaries, including Madhya Pradesh’s Deputy Chief Minister Jagdish Deora, MPs C.P. Joshi and Sudhir Gupta, Rajya Sabha MP Banshilal Gurjar, and various state legislators and officials.

Over 50 different organizations from across India and abroad will participate to help set the record for offering 2024 varieties of sweets and creating rangoli. The event, conducted under the divine guidance and narration of Dr. Vasant Vijay Ji Maharaj, will be an unparalleled example of devotion and worship.

This historic event will stand as a testament to India’s rich heritage, cultural unity, and integrity, drawing devotees from around the world to partake in this extraordinary experience of faith and celebration. Attendees will be provided with free meals and other services for the duration of the event.

Hyderabad (Telangana) [India] November 14: The University of East London (UEL), Siemens UK, and T-Hub Hyderabad hosted a high-impact event on November 13, 2024, focusing on the role of industry and higher education in driving sustainability. The event, titled Achieving Sustainable Higher Education: The Partnership of Industry and Universities, was held at T-Hub, Hyderabad, and brought together key leaders from the academic and industry sectors to discuss innovative solutions for a sustainable future in education.

As part of its ongoing efforts to lead in sustainability, UEL partnered with Siemens UK to transform its campus and achieve net-zero carbon emissions by 2030. This collaboration provides UEL students with unique opportunities to engage with cutting-edge technologies and gain industry experience in sustainability, giving them a competitive edge in the growing green job market. Siemens UK, a global leader in sustainable technology is supporting UEL in its mission to become a center of excellence for sustainability education and innovation.

The event featured keynote addresses from prominent figures, including Professor Paul Marshall, Vice President (Global Campus) and Pro Vice Chancellor of Careers and Enterprise at UEL, and Dr. Gulnara Stover, Director of UEL Global Campus. These leaders highlighted the progress made in the UEL-Siemens partnership and discussed the future of higher education in shaping the next generation of sustainability leaders.

Professor Paul Marshall, Vice President (Global Campus) and Pro Vice Chancellor of Careers and Enterprise at UEL, said, “UEL is committed to continuing and developing our dynamic relationship with India to ensure that we can contribute to accelerating the country’s impressive economic growth as our graduates return to India to harness their skills, entrepreneurial zeal, and industry links for the benefit of the country. I welcome the opportunity to speak with sector leaders in India, especially in partnership with Siemens who have been integral to our successful sustainability transformation as we aim for net zero by 2030. “As we look to the future of our work in India, we are enhancing our partnerships to drive the sustainability agenda through further academic research, knowledge exchange, and industry collaboration. These opportunities are boundless, as we continue to apply our pioneering research to communities across the world.”

A virtual presentation by Faye Bowser, Vice President of Siemens’ Higher Education Vertical, provided insights into Siemens’ global work with higher education institutions to promote sustainability. Meetu Chawla from Siemens India also presented an overview of Siemens’ collaborations with Indian higher education institutions, emphasizing the role of Indian universities in driving sustainability initiatives.

The event also featured a detailed presentation of UEL’s efforts to collaborate with industry partners in the UK and India, including its new India Industry Advisory Board. Case studies showcased successful collaborations between engineering institutions and industries, particularly in the areas of sustainable architecture, engineering, and green technologies.

A key session of the event was a panel discussion on the challenges and opportunities of building strong industry-academia partnerships in India. The panel focused on how universities could align their curricula with the demands of the green economy, helping students prepare for emerging careers in sustainability.

One of the key objectives of this event was to create a platform for deeper collaboration between higher education institutions in India and the UK, focusing on sustainable development and green jobs. The event also provided an opportunity for attendees to network with experts, share best practices, and discuss how to overcome the challenges that hinder the progress of sustainability initiatives in education.

The event closed with a networking lunch, offering participants the chance to connect, discuss ideas, and explore potential collaborations for the future.

This initiative aligned with UEL’s broader goal to integrate sustainability into all aspects of university life, from campus operations to academic programs. By partnering with Siemens and T-Hub, UEL took significant steps towards preparing its students for leadership roles in sustainability and decarbonization. The collaboration also helped bridge the gap between academia and industry, ensuring that universities remained at the forefront of tackling global environmental challenges.

About the University of East London

The core mission of the University of East London, founded in 1898, is to be a careers-first university and engine for social mobility, committed to diversifying the talent pipeline and providing students with the skills and knowledge to thrive in the continuous next.

UEL is uniquely positioned as an anchor institution in east London with a global outlook, focused on reimagining the role of higher education in support of a healthier, fairer and more sustainable world. The University is home to more than 40,000 students (both on campus and via partners) representing over 160 nationalities, with campuses in Stratford and the Royal Albert Dock in east London’s Docklands Enterprise Zone.

UEL is more than halfway through Vision 2028, its 10-year strategy, and has been recognised for its pioneering strategies and programmes, including being named The Times & The Sunday Times University of the Year for Teaching Quality, Good University Guide 2025. UEL was also 1 st in London, 1 st in England and 3d in the UK for overall graduates’ positivity in the National Student Survey 2024; the highest ranked, most improved university, now 9 th in London, in the Guardian University Guide 2025; and shortlisted for ‘University of the Year’ in the 2023 Times Higher Education Awards.

In 2025, UEL celebrates a Year of Health, which focuses on tackling health inequalities, promoting health and wellbeing and driving forward innovation in healthcare, centred around the opening of a new state-of-the-art, community-focused Health Campus in Stratford.

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Rajkot (Gujarat) [India] November 13: The Rajkot Municipal Corporation (RMC) has achieved a significant milestone in urban infrastructure development by raising Rs. 100 crore through a municipal bond issue. Oversubscribed by 4.95 times, this bond issue reflects strong investor confidence and underlines RMC’s dedication to fiscal discipline, transparency and innovation in urban governance.

The Rs. 100 crore bond, issued with a five-year tenure at a 7.90% interest rate and rated AA by CRISIL, was offered on the National Stock Exchange’s Electronic Bidding Platform. The Government of India’s Rs. 13 crore interest subsidy for cities issuing municipal bonds will help reduce the average borrowing cost for RMC, making this financing even more sustainable.

The successful bond issue follows a series of internal reforms by the RMC aimed at enhancing fiscal responsibility and transparency. Over the years, RMC has worked to improve its credit rating from A- to the current AA, showcasing its robust financial health and well-managed operations.

Rajkot, the fourth-largest city in Gujarat, has experienced rapid population growth driven by high migration from the Saurashtra region. Known for its vibrant MSME sector and a thriving light automobile ancillary industry, the city’s geographic footprint has expanded to 164 sq km. This growth has created an urgent need for expanded urban infrastructure, especially in areas newly integrated within RMC’s jurisdiction.

The proceeds of the bond issue will be used for developing water supply and sewerage infrastructure projects in areas newly merged into the Rajkot city limits. These projects include a 23 MLD sewage treatment plant, a 14 MLD elevated storage reservoir, and a 500 km network for water distribution and sewerage collection. This infrastructure investment aligns with RMC’s broader mission to provide high-quality urban services to Rajkot’s growing population.

The RMC has long been a leader in adopting innovative governance practices. Among its pioneering moves, RMC was one of the first in Gujarat to implement outsourcing and privatisation initiatives as early as the 1990s. It not only delivers essential services like water supply, sewerage and solid waste management, but also maintains amenities such as a zoo, planetarium, libraries, sports facilities and auditoriums, reflecting its commitment to setting new benchmarks for municipal governance and ensuring a thriving environment for its citizens.

The bond issuance will enhance RMC’s transparency and accountability. As part of its bond compliance, RMC will strengthen its internal controls and implement systematic performance review mechanisms to ensure effective oversight of financial and non-financial data. This aligns with RMC’s goal to match the standards of progressive Indian cities such as Ahmedabad, Surat, Pune and Indore.

Surat (Gujarat) [India], November 12:  On the lines of the Super 30, the “Mission Kamyab” project will provide free accommodation, food and education for 40 students. Students will receive help and guidance to prepare for the Joint Entrance Examination (JEE) and National Eligibility-cum-Entrance Test (NEET) for two years. GD Goenka International School, Surat, will host the initiative.

Anand Kumar’s Super 30 initiative has successfully guided hundreds of students from underprivileged sections to secure admissions in India’s premier institutions, gaining both national and international acclaim.

In sync with Super 30’s tradition, the organisers have stated that in Gujarat as well, financial difficulties will no longer be an obstacle for meritorious students. The objective of “Mission Kamyab” is to adopt a holistic approach to education, combining competitive exam preparation with school education to provide students with a rich learning experience.

Speaking at the launch of “Mission Kamyab”, Anand Kumar expressed his appreciation for the initiative. He expressed happiness that students in Gujarat will also now be able to prepare for JEET and NEET for free on the same lines as the Super 30 model. He noted that the initiative has been launched in the interest of students from underprivileged sections, and he considered it his privilege to have the opportunity to guide students in their pursuits.

An entrance exam for enrolling under “Mission Kamyab” is scheduled for December 1. Detailed information about the same is available on www.missionkamyab.com. Don’t miss this incredible opportunity to be part of a movement that could shape your academic career and empower your future. Your path to JEE and NEET success starts with Mission Kamyab.

Mumbai (Maharastra) [India],November 11: Jogani Reinforcement, a leading name in crack control technologies and industrial reinforcement sector, added another feather to its cap when it received  Product of the Year recognition at the World of Concrete Show on 17th October 2024 at the Bombay Exhibition Centre, Mumbai, India. JOGANI Reinforcement, got a huge appreciations from  civil engineers, structural consultant and concrete technologists for their groundbreaking innovative products—JOGANI Basalt Fiber and JOGANI Brass Coated Micro Steel Fibers.

It was a moment of immense pride for the JOGANI Reinforcement  that the JOGANI team received this recognition at such a  forum where leading professionals across the Concrete Business  presented some of the most impressive innovations in concrete technologies, equipment, materials, services, and tools. While interacting with the media, Mahesh Kumar  FROM Jogani Reinforcement stated, “Innovation is the only easy, economical effective tool for value creation and problem solving not only for concrete but for society and the country at large. Innovation is  at the core of everything we do. Currently when global warming has created threat not only growth and prosperity but on very existence of life, all research and development focused towards creating products that are eco friendly and sustainable. As a developing nation India need more and more infrastructure, buildings and civic facilities these all need a huge volume  of building materials which are limited and pollution and green house gas emission is big challenge. At Jogani Reinforcement the team of technocrats introduced JOGANI Basalt Fibers to India Market  which are natural and having mechanical properties far better than traditional materials. The recognition “ Product of the year by World of Concrete 2024  is a great motivation and a reflection of our dedication to pushing the boundaries of design and ergonomics in providing the most effective and sustainable products in the market.”

The World of Concrete (WOC) India Show 2024, initiated by The Informa Markets India Pvt. Ltd., is one of the most esteemed awards that celebrates the creative excellence in Concrete landscape. The grand and unique exhibition in its second edition was held between 16th to 18th October 2024. The platform united thousands of industry experts including architects, engineers, builders, contractors, and project managers—all of whom benefit from the innovations on display. The WOC India Conclave also featured participation from over 200 exhibitors, showcasing the latest products, technologies, and innovations in the concrete industry.

About The Award-Winning Reinforced Products

JOGANI Basalt Fiber and JOGANI Brass Coated Micro Steel Fibers are the two most promising  products that represent significant advancements in High Grade and Ultra-High-Performance Concrete (UHPC), Composites, Industrial Flooring , Defence and Industrial Reinforcement Sector, besides setting new benchmarks for sustainability and efficiency in the developing structural environment. These specialized engineering fibres  are superior choices for any concrete and building professionals to enhance strength, improve durability, and innovative design applications over traditional materials.

The award-winning reinforced products enhancing concrete properties and performance  for high tensile strength, intense impact resistance, and enhanced crack control capabilities. The products are abrasion-resistant, and tough, and showcased increased flexibility that can suit challenging environments. As India’s top crack control fibreglass mesh products and engineering  technologies  supplier- Jogani Reinforcement have been time and again recognized for their remarkable efforts, impeccable ideas and advanced concrete solutions. However, this WOC India appreciation is a testament to the Jogani Group’s dedication and focus on driving the future of construction, by enhancing the quality and performance of concrete products in the ever-evolving industry.

Jogani Reinforcement can be reached on 9107 690 690 and Mail at joganireinforcement@gmail.com or www.joganireinforcement.com

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Mumbai (Maharashtra) [India] November 12: A+E Global Media Group today announced that it will partner with Arré Studio to bring its global hit format to India for the first time, it was announced today by Namit Sharma, CEO Arré Studio and Amreet Chahal, Content Sales Director for A+E Media Group, Asia-Pacific.

Alone, the ultimate survival competition format, described by The New Yorker as “the best reality show ever made”, sees contestants dropped one by one into the remote wilderness, where each must survive entirely alone, using their wits, mental resilience, and survival skills. With no camera crew, contestants must self-film as they source food and water, build their own shelter, and battle ever-worsening weather.

“Alone is an incredible, ambitious format, gripping audiences the world over. We’re excited to be bringing it to India,” said Namit Sharma, CEO Arré Studio. “Our audience loves captive reality shows and Alone is a uniquely dramatic and challenging format. This partnership with A+E is a mark of Arré’s commitment to bringing the best international scripted and unscripted formats to our clients and audience”

“A+E is thrilled to be partnering with top producers Arré Studio,” said Amreet Chahal, Content Sales Director for A+E Media Group, Asia-Pacific. “Alone is an awe-inspiring test of the power of human spirit, set in stunning unspoiled wilderness. We can’t wait to bring this to an Asian territory for the very first time”

Alone first premiered on A+E’s The History Channel US in 2015, and has now run for eleven smash hit seasons with a twelfth season in production. Alone Denmark has aired for eight seasons, and three new European adaptations of the format are shortly to be announced. Alone Australia has been the highest rating original commission in the history of the network channel SBS, and a third season will premiere in 2025.

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Mumbai (Maharashtra) [India] November 11:  The UK is a preferred international destination for 89% of Indian businesses, according to new research. But while mid-market businesses recognise the opportunities the UK offers, a key barrier to trade and investment is a restrictive immigration and visa regime. Also, the need for detailed business documentation and proof of economic contribution’ is posing a challenge for investors.

With a Free Trade Agreement (FTA) between India and the UK yet to materialise, visa specialists point to the self-sponsorship system as a solution. The scheme was pioneered by British legal firm A Y & J Solicitors and has allowed overseas businesspeople to start ventures in the UK in a wide range of sectors including research, IT, construction, logistics and food production. Self Sponsorship has been growing in popularity since several commonly used business visa routes were cancelled as part of an overhaul of British immigration.

Yash Dubal, director of A Y & J Solicitors, has helped facilitate over 140 Self Sponsorship applications. He says it is the only option available for many smaller investors.

“Many Indian businesses are keen to invest in the UK but there are limited visa options for them, particularly those who are serious about setting up an independent small business in the UK,” he said. “Self Sponsorship is proving to be a lifeline for these people. The system has helped entrepreneurs from all over the world who otherwise would not have been able to bring their skills and investment to the UK. They have established IT businesses, food manufacturing businesses, research and development companies and renewable energy ventures.”

Under the Self-Sponsorship system, overseas entrepreneurs legally establish UK limited companies from abroad and then sponsor themselves for a Skilled Worker visa to work in a role that qualifies under the Skilled Worker route.

According to the Grant Thornton research, almost all (92%) of the Indian businesses surveyed said an FTA with the UK would encourage them to explore opportunities in this market.

Earlier this year Grant Thornton issued its India meets Britain Tracker, developed in collaboration with the Confederation of Indian Industry in the UK. It identified a record 971 Indian-owned companies operating in the UK, up from 954 in 2023. These companies had a combined revenue of £68.09 billion (an increase from £50.5 billion in 2023). They employed 118,430 people, up from 105,931 in 2023, and paid £1.17 billion in corporation tax, compared with £944 million in 2023. The tracker also identified 100 Indian businesses in the UK growing at a rate of 10% or more. The tracker also highlighted that a free trade deal between India and the UK has the potential to increase bilateral trade to more than $100 billion by 2030.

The biggest sector in terms of number of Indian companies in the UK is technology, media and telecommunications (TMT), followed by engineering and manufacturing and pharmaceuticals and chemicals.

Foreign direct investment (FDI) from India created over 8,000 new jobs in 2023, during which there were 118 Indian FDI projects in the UK, according to figures from The Department for Business and Trade.

Trade in goods and services between the UK and India in 2023 was £39 billion, an increase of 4.8% on the previous year. As a result, India is currently the UK’s 12th largest trading partner, accounting for 2.1% of total UK trade. The FTA has the potential to increase bilateral trade to more than $100 billion by 2030 and create new employment opportunities.

The India meets Britain Tracker also highlighted visa frictions as a barrier to growth, specifically the salary threshold increase for the ICT visa, now known as the Senior or Specialist Worker visa. In April 2024 this rose from £45,800 to £48,500. Indian businesses report that this is making it difficult to bring in talent to address the shortage in tech skills in the UK. Possible alternative visa routes for tech workers who do not meet the minimum salary requirement include the India Young Professionals Scheme and High Potential Individual visa.

Mr Dubal continued: “With so much potential investment and such interest in locating business activity in the UK, it makes sense to address immigration concerns in trade negotiations. These reports prove that there is work to be done to reduce friction of movement. But even if that doesn’t happen, Self Sponsorship is proving a simple and effective lifeline for smaller investors, entrepreneurs and SMEs to take advantage of the UK market.”

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