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A high-power British business delegation led by Lord Peter Mandelson will visit India from Monday to forge closer economic links and build on existing relationships and partnerships.
During the visit organised by the UK India Business Council and UK Trade and Investment, 129 delegates, including business leaders Vittorio Colao, CEO, Vodafone; Lord Meghnad Desai, noted NRI economist; Terry Hill, chairman, Arup; Evelyn de Rothschild and Gerry Grimstone of Standard Life will visit New Delhi, Pune and Mumbai.
Commenting on the visit, Lord Mandelson, Secretary of State for Business, Enterprise and Regulatory Reform, said the UK and India are now facing many similar challenges.
"While we both are rightly geared towards tackling the effects of the global downturn, we must also strive to position our economies as leaders during the upturn.
"We must not let the current economic downturn undermine the strong business relations that the UK and India have worked so hard to build. We need to identify key sectors where Indian and UK companies can work more closely together. I am convinced our efforts today will set us in good stead for tomorrow," he said.
Sharon Bamford, UKIBC CEO, said: "Our message to India is clear, our commitment is strong; the acts of terrorism in Mumbai were a cowardly attack aimed at destabilising a strong, rapidly growing economic super power and British business will not be deterred from developing and deepening its business relationship.
"Our business community is well aware of the challenges it faces in the current climate with the UK economy predicted to shrink by 1.7 per cent in 2009 whilst the Indian economy is predicted to grow by 6 per cent."
The UKIBC, Bamford said, urges British companies to look towards India as an opportunity, be it for outsourcing, partnering, as a customer or for acquisitions."Working with the UKIBC board and partners at UK Trade and Investment and with the Indian business community, we are really confident of moving forward on this front," she said.
The delegation will participate in a range of activities, including the Joint Economic and Trade Committee roundtable discussions which aim to identify new opportunities for B2B collaboration in a range of sectors, as well as address bilateral trade policy issues at government-to-government level.
The delegation will also participate in the CII Partnership Summit, Innovation Nation panel discussion and the UK India Business Council office opening in Mumbai.
On January 22, Lord Mandelson will formally open the UKIBC office to add to the existing office in New Delhi. The staff there will provide members with networking opportunities, host quality events, seminars and delegations.
Members will receive insightful research, reports and white papers, expert guidance in doing business in the UK and informative and thought provoking quarterly magazines, monthly newsletters and weekly updates.
"Every ambitious player with a mature position in India now sees overseas growth through acquisition as the way to get hold of more customers, brands and knowledge," Bamford said.