The delegation arrived in India yesterday. “I am determined to everything I can to ensure that Britain succeeds in the global race and to link British business up to the world’s fastest growing economies,” said Cameron. “As India grows, it needs a partner that can support its ambition – in infrastructure, in energy, in healthcare and more. It wants its business to have unrivalled access to European and global markets and its students to get the best education in the world. Britain can do all these things and more. So, we have to get out there, make the case for Britain and open doors for British business.”
Over 100 companies are participating in the three day visit, including more than 30 small and medium sized enterprises (SMEs), along with ministers Lord Green, David Willetts, Hugo Swire and Greg Barker. They are meeting with a number of Indian government ministers, inward investors and businesses in both Mumbai and Delhi, as the government seeks to link British businesses up to one of the world’s fastest growing economies, predicted to become the third largest by 2050.
The government announced yesterday that it will support the creation of a new pan-India network of British Business Centres by 2017, the first pilot in a scheme of 20 overseas networks, backed by £8 million of Government funding. The new business centres will offer business-led, business-backed, support to UK businesses, particularly SMEs, in India.
The government has also produced a study for business called 'UK India: A Natural Fit' that identifies eight key sectors where UK strengths match India’s economics requirements. This demonstrates that there are valuable opportunities for British businesses, big and small, from all sectors of the economy stand to gain from India’s growing prosperity.
Trade minister Lord Green said: “We are on track to double our trade with India by 2015. India has great potential to become one of the largest markets in the world. UK businesses are rightly recognising that they can reap the rewards of looking outside Europe for trading partners, selling their goods and services to high growth markets outside the EU.
“Government is clear that we must build deeper ties with India. This means supporting and encouraging a range of companies, both large and small, to do business there in the future.”
New trade deals announced yesterday include Mott MacDonald’s appointment as design engineer for six stations of the £2bn Hyderabad metro project. The firm will provide architectural, structural, and public health design services as well as design consultancy for various stations along the line.
Cameron also welcomed Atkins' opening of a new office on the outskirts of Delhi.
InterContinental Hotel Group to expand in India by building 13 new hotels over the next few years.
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