India watch issue 5 - New report highlights opportunities for UK PLC in Indian emerging cities

Monday, July 13, 2009 | Posted by: Grant Thornton
Categories: | Tags: India, investment, Emerging cities, Ishara Bhasi Callan, UKIBC, aim, UK India Business Council

Indian metros, such as Mumbai, Delhi and Bangalore have traditionally been the favoured Indian destinations of UK businesses. However, new research launched recently opens up a whole range of opportunities for UK firms outside these traditional economic heartlands.

The groundbreaking report – which identifies the nine rising emerging city stars of India - was launched by Lord Davies, Minister for Trade & Investment in London. 

The research, “Opportunities for UK Plc in Emerging Cities of India,” was conducted by the UK India Business Council (UKIBC) on behalf of UK Trade & Investment (UKTI) – the government’s international business development organisation.

Each of the nine rising Indian cities provide a positive business environment that present a variety of commercial opportunities for UK companies – both big corporates and SMEs. These opportunities play to the UK’s world class strengths:  creative and media, built environment, life sciences, advanced engineering, ICT, food and drink, energy, education and financial services.

Launching the report, Lord Davies, said, “In these challenging economic times, companies need to be more adventurous in seeking out new opportunities for growth. India is a vital business partner and UK companies cannot base their commercial strategies on anachronistic ideas of what India Plc is about.

“India is undergoing a profound economic transformation that presents a real opportunity for long term sustainable and long term growth.  India’s emerging cities will play a pivotal role in this transformation. This report will be a key catalyst for promoting UK plc’s future engagement with the emerging cities of India. It will open up a whole new range of opportunities for UK business. India is on the move and we must move with it.”

The nine emerging cities identified in this report are:

• Ahmedabad
• Chandigarh
• Goa
• Indore
• Jaipur
• Kochi
• Nagpur
• Pune
• Vadodara

Commenting on the report Sharon Bamford, CEO, UKIBC, said, “The international business community is not yet fully aware of the vast potential in cities such as Ahmedabad, Jaipur and Indore. It is little known that there is a thriving graphic design scene in Goa, or that Chandigarh is a rapidly emerging centre for biotechnology. The aim of the report is twofold: to provide concrete sector specific opportunities and meaningful intelligence to really help British business.”

Highlighting the opportunities that UKIBC member company Benoy has already explored, chairman of Benoy, Graham Cartledge CBE, said, “Benoy always looks to the future – whether setting the next design trend or carving out a space for the company in a vibrant new market. Our strategy for growth in India was to not only design for Delhi and Mumbai, but target emerging cities as well. Pune is the education, engineering and cultural capital of Maharashtra and like others identified in this report has the raw development potential and the competitive advantage to be a world-class centre. Benoy is involved in ground-breaking developments in Pune that will help to realise this vision”.

To read the main report click here
Ahmedabad click here
Chandigarh
Goa click here
Indore click here
Jaipur click here
Kochi click here
Nagpur click here
Vadodara click here
Annex, useful contacts and sector oveviews click here

by Ishara Bhasi Callan
Communications Manager,
UK India Business Council