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Czech automobile firm Skoda is eyeing 25 per cent sales growth in India this year on the back of enhanced customer service, two new upcoming models and upgrades of existing offerings.


The company’s arm Skoda Auto India had reported sales of 13,370 units last year against 15,457 units in 2015, down 13.5 per cent. “We have been on a drive to improve our sales and after-sales service for the past few years.


Last year’s sales was as per expectations but this year we are looking at 25 per cent growth,” said Skoda Auto India Chairman and Managing Director Sudhir Rao.


Source:Business Line

Prime Minister Narendra Modi addressed the India-Turkey Business Forum, in the presence of business leaders as well as Turkish President Recep Tayyip Erdogan. Mr Erdogan is on his first state visit to India since 2008. He was earlier accorded a ceremonial welcome at the Rashtrapati Bhavan. This is also Mr Erdogan's first foreign visit after winning a controversial referendum in his country, which further consolidates his executive powers


President Erdogan and PM Modi are expected to discuss economic ties, trade as well as the ongoing developments in Syria. Mr Modi will seek Turkey's support for India's membership in the Nuclear Suppliers Group (NSG). Turkey had earlier supported India's membership in the Missile Technology Control Regime (MTCR). However, ahead of talks with Prime Minister Narendra Modi today, the Turkish President controversially suggested a "multi-lateral dialogue" to resolve the Kashmir issue to ensure peace in the region. 


Here are the live updates of PM Narendra Modi's Speec

Bilateral trade between India and Turkey has gone up tremendously.

India and Turkey are among the 20 largest economies in the world. Both economies have shown remarkable stability

There is immense goodwill for each other between the people of both countries

The time has come to take our bilateral relations to the next level.

We are seeing an increase in presence of Turkish companies in India

The Indian political system is known for its vibrant democracy. We are also a law-abiding nation.

We have launched several programs in India. The governments focus is to remove inefficiencies in our system and make it a great investment destination.

Our global rankings have become much better in the last few years. I am certain that it will get even better in the time to come

Our aim is to create an efficient business environment in India

India is seeing a major push for better infrastructure and Turkish companies can be a part of this massive exercise.

We are building more than 30 million homes, developing new airports and sea ports, modernising our railways, building highways across the country at a rapid pace. Turkey can be a part of this

India and Turkey are both energy deficient, but our energy needs are ever-increasing.

Thus, this becomes an very important part of our bilateral relations. We can work together in mining and other sectors to cater to our energy needs

Turkey can also be a part of India’s textile sector.


Source:NDTV News

A prominent Indian businessman's food processing plant in Britain has won the prestigious Queen's Enterprise Award 2017 for its exceptional contribution to the UK's trade, industry and economy.


Yusaffali MA, 61, said the recognition for his Birmingham-based Y International (UK) Ltd will spur his Abu Dhabi-headquartered Lulu Group International to further expand business interests in the UK.


"I am extremely honoured and proud to hear the news about Y International UK Ltd being selected for the prestigious Queen's Award this year. This great recognition will surely help us further strengthen our plans to expand business interests in UK and continue with our innovations and contributions to the dynamic economy of UK," the Kerala-born, UAE-based entrepreneur said in a statement.


Y International UK Ltd's food processing plant, which employs 300 local staff, was established in Birmingham in 2013 to source and process food products from UK to support the demand for high-quality British products for sale in Lulu Group's hypermarkets across the Middle East, India and Far East


"We are in the process of setting up another world-class food processing plant in the 12.5 acres of land allotted by Birmingham City Council, to further boost our exports and cover bigger variety of products. The planned investment would be to the tune of 36 million pounds (Rs 300 crores)," Yusuffali said.


The Queen's Award for Enterprise is conferred annually by Queen Elizabeth II on her birthday, April 21, upon businesses that display great enterprise across the fields of innovation, international trade, promoting opportunity through social mobility and sustainable development.


The awards are open to nominations and selected based on the recommendation of Downing Street and published in the official London Gazette.


All entries are subject to auditing and scrutiny by over 30 UK government agencies before being included in the roll of honour.


Y International (UK) Limited, Birmingham, listed in the Gazette as an international distributor of grocery products, perishables products and non-foods products, was chosen in the international trade category.


The recipients of the 2017 awards will be invited to a special reception at Buckingham Palace later this year.


The $6.9-billion Lulu Group, ranked as a top retailer in the MENA region and listed among the top 50 fastest growing retailers in the world by Deloitte, has made UK headlines in recent years for acquiring the iconic Scotland Yard building in London and for its investment in luxury retail brand East India Company. 


Source:Economic Times