British Gas plans to double India investment to $1bn

Vol 7, PW 26 (24 Mar 04) News in Brief
     

British Gas plans to double its present India investments of about $500m over the next few years.

On 15th March Dave Roberts Jr, BGs managing director Asia and Middle East, told a Labour Friends of India meeting in the UK parliament why India is its only focus area in Asia. India has the attributes which are key to the success of any commercial enterprise multiple business opportunities and the infrastructure and regulatory framework, which allows for the transition of opportunity into tangible assets.

Added to these are: A stable operating environment, a sound fiscal and legal regime and strong economic conditions. Roberts also quoted a Goldman Sachs report, which predicts India could grow the fastest over the next 30-50 years over other developing nations, including China.

Fundamentally, this is the reason BG Group has selected India as its key Asian growth platform for the future.