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Barclays hosts thought provoking discussion on the outlook and lessons learnt from India

25 Jul 2012 16:19 GMT

As part of Barclays commitment to address issues directly related to British Asian families, it recently hosted an event with Dialogue with India at which Ajay Piramal, Indian business magnate and Chairman of Piramal Group, presented on the lessons developed countries can learn from India. Ajay also described the recent slowdown in the Indian economy as temporary with the fundamentals still extremely strong.

In a private audience with some of the UK’s leading Asian entrepreneurs, Ajay led a discussion on the outlook for India – which he sees as positive - and picked out governance, energy and infrastructure as the three key components which could shape the direction of India’s economy.

Reflecting on his own experience in building Piramal Group from a textile centric business into a $2billion global conglomerate with numerous business strands, one of which was sold to US firm Abbot Labs for $3.7bn, Ajay also highlighted contrasting business models between developed and emerging markets. He placed particular emphasis on the benefits of the sense of ownership and long term focus in a family business, citing that this model often allows for better decision making

The presentation marks the third thought leadership event this year for South Asian clients and prospects. This ongoing South Asian Leadership series brings together likeminded entrepreneurs and investors to discuss areas which are of interest to them.

John Saunders, Managing Director, Wealth and Investment Management at Barclays, commented:

“This initiative is about recognising the needs of South Asian families and leading on issues that are of importance to them. Many Asian businesses are multi-generational in nature with complex ownership structures and need advisers who can deal with the nuances of their requirements. Setting up a discussion which directly addresses this demonstrates a deeper understanding of the issues relevant to our South Asian clients in the UK.”

ENDS

Notes to Editors:

For further information contact:

Clare Milton, Barclays, Corporate Communications

+ 44 (0)20 3134 2327, clare.milton@barclays.com

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