UKTI urges firms to engage India's IT market


UKTI urges firms to engage India's IT market

Rebecca Thomson

A report has highlighted the business opportunities for Britain's technology sector in India's growing middle class.

The report was produced by UK Trade and Investment (UKTI) and is aimed at British firms working with semiconductors, mobile communications and healthcare.

It says there are opportunities to combine the UK's frontier expertise with India's huge IT business to provide technological solutions for India and round the world.

India increased investment in the UK by 44% in 2008, and is now the second largest source of investment after the US. Two-thirds of this investment came from software and technology firms.

UK-India bilateral trade is worth £12.6 billion, with UK exports to India rising to 2008 to £5.9 billion, while imports rose to £6.2 billion.

UKTI chief executive, Sir Andrew Cahn, said: "India remains a vital growth economy with opportunities to match. With potential partnerships across technology sub-sectors, coupled with a severe skills shortage, now is the time for UK companies to take advantage of the technology boom."

UKTI is hoping to help small and medium companies enter the Indian market, with two Indian delegations set to visit the UK.

Lord Davies of Abersoch, Minister for Trade, Investment and Business, said: "It's been over a decade since outsourcing was the buzzword. Now, innovative Indian and UK firms are working together at the top end of the industrial spectrum. India's talent, confidence, energy and entrepreneurial spirit must be seen to be believed."

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