Member Article

Look to India to expand, say experts

Businesses in the region are being encouraged to consider businesses opportunities in Indian by a delegation from the UK-India Business Council.

Members of the Council, which will arrive in the region tomorrow, include the former Secretary of State for Trade and Industry, the Rt. Hon Patricia Hewitt and Richard Heald.

The organisation aims to promote trade links between the two countries through business to business dialogue to create an environment where free trade and investment can flourish. Indian has already proved to be a strong market for services from the North East, and has witnessed a 40% increase in exports from the region.

NECC Export Services Manager, Brian Dakers, said: “The Indian market is one that has grown rapidly in recent years, but we could be doing so much more business in this part of the world.

“Hopefully this visit by the UK-India Business Council, which can help and support companies looking to explore this particular market, will help highlight the opportunities India presents and further boost the North East’s already impressive export credentials.”

The delegation is set to visit Port of Tyne in South Shields to witness how exports leave the region by sea via two major ports, and will meet with key NECC members in Durham to discuss the opportunities available.

Many businesses in the region have already benefited from exporting their services to India, including Gate 7 Ltd, and Fleet M8 in Bolsdon Tyne and Wear. Both have formed strong partnerships with Indian businesses and have vastly benefited from moving into new markets.

Richard Heald from the UK-India Business Council said: “The UK-India Business Council can support business from the North East by outlining the practical steps they need to take in order to start forming partnerships with Indian business and Government.

“It will help companies understand and develop market entry and expansion strategies. Companies from the North East should join the other 500 companies attending to learn about the Indian market.

“It can seem like a huge leap but small businesses around the world are finding fantastic opportunities in India every single day.”

Susan Wear, Port of Tyne, Director of Corporate Affairs said: “We estimate that around £10bn worth of goods are shipped from and to the Port of Tyne annually.

“Having a Port equipped to handle the world’s major cargoes on the doorstep is a huge factor in the success of many regional businesses getting their goods to market quickly and cost effectively.

“We are pleased to be able to continue to support the economic growth of the region and looking forward, we are investing in the infrastructure that will equip the Port to handle more of the world’s largest cargo ships”.

This was posted in Bdaily's Members' News section by Ruth Mitchell .