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£9 billion worth of commercial deals have been agreed or announced during Prime Minister Narendra Modi’s visit to the UK They include:
In India
Light Source has announced a £ 2 billion investment in India to design and manage 3 gigawatt of solar power in the country over the next five years. This will employ 300 people in each of the two countries
OPG Power Ventures will invest £ 2.9 billion in India, creating 4,200 MW of new power capacity in India focused on solar and thermal power.
Vodafone is to invest £1.3 billion on upgrading and expanding its network coverage, and on technology centres in Pune and Ahmedabad. It will also create a Tier 4 data centre, and a new payment bank.
Kings College Hospital Foundation Trust and Indo UK Healthcare PVT Ltd have agreed to set up a branch of Kings College Hospital in Chandigarh. It will be the first of 11 new UK-Indo institutions of health, adding up to £ 1 billion of investment into Indian health.
Subject to regulatory approval, Stanard Life, Bupa and Aviva will invest £ 238 million in total into their Indian joint ventures.
Merlin Entertainments will open the first Madame Tussauds in India in New Delhi in 2017, investing £ 50 million over 10 years in other brands within its portfolio including LEGOLAND Discovery Centre, and Sealife Acquarium
Health product retailer Holland & Barrett International, will partner with Apollo Hospitals in a £ 20 million deal to open 1,000 outlets across India in five years, commencing in January.
In the UK
The government is to issue the first government backed rupee bond in London to fund railway infrastructure projects. Full details are yet to be released.
The London Stock Exchange Group and Yes Bank are to further develop bond and equity issuance focused on Green Infrastructure Finance. Yes Bank plans to list a green bond of £ 330 million through Medium Term Notes on the LSE by December next year.
Housing Development Finance Corporation (HDFC) will issue $750 million rupee denominated bonds, for trading on the London Stock Exchange,
Bharti Airtel will issue £500 million of sterling bonds to be listed on the LSE.
Zyfin and Sun Global are listing an Indian fixed income exchange traded fund on the LSE
Indiabulls Housing Finance Ltd has invested £66 million into UK startup bank OakNorth, in which it will hold a 40 per cent stake.
State Bank of India is to open two new UK branches.
TVS is set to open a £ 20 million advanced logistics facility in the UK.
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