The scramble for India’s ‘blue gold’ has begun. Sources confirm that the UK’s trade secretary, Jonathan Reynolds, is locked in talks with Indian officials to secure a slice of the nation’s booming water purification and desalination sector. The industry, dubbed ‘blue gold’ by insiders, is valued at over £10 billion and growing at a breakneck pace as India’s water crisis deepens.
Documents obtained by this newsroom reveal that Reynolds is pushing for a bilateral trade pact specifically targeting water technology. The move comes as India’s government accelerates its ‘Jal Jeevan Mission’, pledging piped water to every rural home by 2024. Private firms are flocking to fill the gap, with British companies like Pentair and Xylem already holding talks with state governments.
But the real story lies in the backroom deals. My sources tell me that several UK-based consulting firms are positioning themselves as middlemen, promising Indian ministers access to London’s financial markets. One memorandum I’ve seen outlines a proposal for a $500 million ‘water fund’ backed by British pension money.
Critics warn that private control of water is a dangerous game. In Rajasthan, where a UK firm recently signed a 30-year water management contract, local activists report price hikes of 40%. The state government denies any wrongdoing, but the paper trail suggests otherwise. Emails between company executives and local politicians reference ‘favourable regulatory adjustments’.
Reynolds’ office calls the reports “speculative”, but a senior Indian official, speaking on condition of anonymity, insists that a joint working group has already been established. The official admitted: “The British are offering us technology and investment. In return, they want market access and profit repatriation guarantees.”
This is the same playbook we’ve seen in other sectors: a resource-rich country’s desperation meeting the cold calculus of corporate profit. The blue gold rush is on, and as always, the public pays the price.
I’ll be digging deeper into the names on those contracts. Watch this space.
