Richard Heald
UK India Business Council
Ask the Expert: Doing business in India
Richard Heald, CEO of the UK India Business Council, highlights the potential for businesses to develop stronger links with the country.
Q: How can the UKIBC summit and the UKIBC help British Businesses to grow in India?
Why India?
Average Indian incomes are estimated to grow by 27 times by 2050. For UK businesses, this represents an expanding market that is hungry for products, services, technology and know-how. It is also a market which is rapidly developing its own world class products and services; which are born of innovation, passion and resourcefulness.
How India?
India is not one market, but a series of regional markets where the legislative and investment climate may change from one state to another. For example Noida and New Delhi are only a few miles apart, but operate in different States. My tips when looking at India are:
a) evaluate the most relevant entry strategy; the best structures and how to minimise risks and optimise sustainability.
b) Speak to experts. The UKIBC, UKTI other trade bodies and professional services firms can help, as, of course, can your peers – other businesses that have made the journey into India.
c) Have the right people representing you in India, whether they be your own employees, your agent, distributor, or JV partner.
d) India is about more than IT and outsourcing; there are opportunities across all sectors. India is rapidly scaling up its Infrastructure and its manufacturing sector is developing fast. India’s healthcare industry will grow to over £40bn in the next three years. There are opportunities for UK skills providers as India aims to train 500 million. Rising income levels create retail opportunities, and the entertainment and media sector is also expected to be worth £15bn by 2014, creating a lucrative market for businesses with smart IP.
The UKIBC Networking Summit will focus on market entry and expansion strategies, and feature case studies, a meet the experts area, and one to one meetings with specialists. The UKIBC also provides support for our members, and earlier this year a new Sector Membership category was introduced specifically to benefit for SMEs.
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About Richard
Contact Details
Richard Heald
CEO,
UK India Business Council
enquiries@ukibc.com
02075923040
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