Indian opportunities open for firms

30/07/2010

Following David Cameron's visit to India, businesses in the Yorkshire region have been urged to find ways to tap into opportunities in the country.
A delegation of ministers and business leaders led by the Prime Minister visited the Asian nation in a bid to create more opportunities for British business in the Indian market.
Severfield-Rowen, a Thirsk-based firm that specialises in structural steelwork fabrication, has already won a partnership with SMD Asia.
Also, York-based firm Pavers Shoes has invested in a joint venture in Mauritius, aiming to take advantage of the growing Indian consumer market.
Business Secretary Vince Cable said: "For far too long, the UK has been focused on the markets closest to home. Trade and investment will be the engine that will get the economy moving, and we need to plan our future strategically.
"Look around the world at where the growth is. While the Eurozone and the US are slowly coming out of recession, India is forecast to grow at 8 to 10% this year.
"Last year Yorkshire and Humber as a whole exported £130 million worth of goods to India, the world's fourth largest economy. But we are nowhere near our full potential.
"There are firms across the region that are winning sales in India. They know what this huge market can offer. Exporting can make a huge difference, not just to a firm's bottom line right now, but to its long-term prosperity. There is help on offer via UK Trade & Investment to explore this enormous market."
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