India has recently jumped 30 spots in the World Bank's ease of doing business ranking. It is now one of the 100 easiest nations to conduct business in, and we are helping local businesses do just that.
India has a vibrant and expanding consumer market of over 1.2 billion people, and with more than a 1/4 of the world's under 25s, the country is billed to be the world's 3rd largest economy by 2030.
The UK is a leading investor in India, with investments worth around 24 billion USD, excluding foreign portfolio inflows from the UK.
Business West’s Export for Growth project has been capitalising on opportunities in the region, and our resident expert Ameeta Virk has recently returned from a very successful 5-day trip to Mumbai and Delhi. Eight businesses from the South West of England undertook an intensive schedule of over 70 pre-arranged commercial meetings and networking events with prospective buyers, and partners.
India Market Specialist, Ameeta Virk said, “Following extensive planning and preparation we've recently led a market visit to Delhi and Mumbai and helped secure a number of new business deals.”
Well-known Bristol-based brand Trunki went on the visit to learn more about the market. Nancy West, International Sales Manager said:
“We are currently exporting all over the world but India remains our smallest market, despite its huge potential customer base – we are excited to be going to India to make new connections with distributors and buyers.”
The next step in the journey for businesses who wish to enter this high-growth market is to get help from Ameeta and the Extend Your Global Reach programme.
Business West’s Initiative are currently preparing to welcome His Excellency, Mr. Y.K. Sinha, High Commissioner of India to Bristol on Friday for a breakfast reception, which will promote ties between the South West and India.
Ameeta said of the visit, "I am delighted to be able to showcase the successes of a number of Bristol & South West businesses targeting the Indian market to His Excellency, Mr. Y.K. Sinha and explore how we work together to do much more."
James Durie, Chief Executive of Business West Chambers & Initiative said, "Business West and our Export for Growth Team are very pleased to share the unique work that we do to support Bristol & South West companies operate and succeed in the Indian market. This event enables over 50 of our local business leaders and partners to engage directly with the High Commissioner and his office and meet others doing business or interested in the Indian market and the Indian diaspora.
"Bristol has strong ties with India and this visit will be a great opportunity to strengthen the city's links with this major global market as we move towards a post-Brexit trading environment and new relationships are forged. Its 20 years since we last welcomed the Indian High Commisioner to Bristol and as a huge growth market it couldn't come at a better time. This is another way we are supporting business of all types from across the region to internationalise and grow."
About Export for Growth
This most recent trip to India was made possible by Extend Your Global Reach, part of Export for Growth, a free support programme part funded by the Department for International Trade (DIT) and the European Regional Development Fund (ERDF), and delivered by Business West. It aims to help support South West businesses to access opportunities in the complex markets of Asia and Latin America.
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Meet your expert
Ameeta Virk has dedicated the last five years assisting British companies grow their exports, leading multiple trade delegations to bring UK businesses together with their overseas customers. Previoulsy Ameeta had a varied career in Europe, Asia and the US in the retail, education and healthcare sectors.