By Marcus Leach
As part of a wide-ranging visit to India, Trade and Investment Minister Lord Green called on UK companies to look towards India’s emerging cities.
Having visited Delhi and Mumbai this week, Lord Green is in Chennai today to promote UK strengths in areas including infrastructure, green energy, low carbon technologies and advanced engineering.
“As India’s economic growth continues apace, the UK must take every opportunity to boost trade and investment between both countries," Lord Green said.
“Chennai is already an established base for business in South India, but many of India’s less familiar emerging cities continue to be overlooked. UK companies should delve beyond the traditional trading hubs and seek out new opportunities in India’s rapidly expanding cities.”
Forecasts suggest that around 68 emerging cities in India will have populations of more than one million by 2030, with a further 55 growing to between one and four million. This growth presents a wealth of opportunity for UK businesses seeking expansion in India, and every sector has a chance to capitalise.
UK Trade & Investment (UKTI) has a strong presence in India’s emerging cities and already has relationships with around 2,000 firms that are driving forward new business partnerships.
UKTI’s emerging cities campaign began in 2009 and focussed on 20 of India’s 42 fast-growing cities, including: Chandigarh, Coimbatore, Nagpur, Trichy, Jaipur, Surat, Bhubaneswar, Aurangabad, Madurai, Vadodara, Raipur, Jamshedpur, Indore, Guwahati, Mangalore, Shimla, Kochi, Goa, Kakinada, Ludhiana, Trivandrum and Visakhapatnam
UKTI is planning to reach out to other emerging cities such as Nashik, Rajkot, Jalandhar, Kanpur and Vijayawada.