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UK India Business Council UK India Business Council
IMAGES: WWW.SHUTTERSTOCK.COM
IMAGE: WWW.SHUTTERSTOCK.COM
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An unbeatable combination
There is robust trade and investment between India and the UK and now is the time to seize the opportunity, says Richard Heald, CEO of the UK India Business Council (UKIBC)
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conomic, demographic and policy drivers make India an increasingly active proposition for UK businesses. India is the second largest country in the world by population, the largest democracy in the world and the largest English speaking nation in the world. 25% of the world under 25s live in India. There are 900 million handsets in India. Its economy is growing at an annual rate of more than 7%, currently the fastest growing of any major country including China. India’s economy is set to exceed the size of the UK economy in the next few years and is forecast to be the 3rd largest economy in the world in about 30 years.
global-opportunity.co.uk
The new, fast and air- conditioned Mumbai Metro train
In May 2014, a new Indian government led by Prime Minister Narendra Modi was elected with a mandate to eliminate poverty and create a 21st economy through the pursuit pro-business policies. A key aim for the new government has been to transform India into a global manufacturing and export hub. This will be driven by a series of bold strategic development initiatives including Make in India, Digital India and Skill India. Alongside these, there are initiatives to improve ease of doing business and new structures and policies are being created to promote competitive and cooperative federalism between India’s 29 states. The opportunities presented by the rapidly changing India are immense. UK businesses have been operating successfully in India for many years - from giants such as BP to small ambitious exporters like Derham & Derham. Indeed, the UK has been the largest G20 investor in India for the past 14 years and there around 535 UK businesses currently operate in India in sectors as diverse
Issue 02
| Global Opportunity 2015
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