Mukherjee met a host of business and education leaders and exhorted them to turn their attention to India during a visit to Birmingham this week.
"The West Midlands is a very important region for us. Recently, we have seen the high profile acquisition of Jaguar Land Rover by Tata Motors but there is a wealth of activity taking place across many sectors, not just manufacturing," he said.
Indian financial services sector was offering new opportunities for professions such as accountancy, while the legal sector was also healthy, he added.
"What we would really like to see is more face-to-face meetings. Internet sites and the like are all very well, but there is no substitute for meeting people in person. I have spoken with the Birmingham Chamber of Commerce during my visit and they appear to share our aims, so that is very encouraging," he said.
Mukherjee told business leaders that India has been "relatively well insulated" from the market turmoil because of the structure of its economic
system. "We have embraced reform over the past decade but we still have a certain level of regulation and that has helped to protect us - perhaps more so than many economies at the moment. What we want to do is to attract foreign investment and the UK is one of our target markets," he added.
The Indian High Commissioner, who also visited the Aston Business School, said: "I was very interested to learn more about they are trying to do and we would be keen to develop ties with the university.
"One of the major challenges we face in India is improving education and skills and so tie-ups between the UK education and skills sector is very important to us," he said. Mukherjee said several opportunities for West Midlands-based companies existed in India's infrastructure sector.
He said: "Our infrastructure is undergoing huge investment at the moment, but around 500 billion euros are needed to bring it up to acceptable standards. Our power needs, roads and ports all need to be upgraded if the economy is to grow as it should.
"The technology sector is also developing rapidly, for example, we are introducing around 10 million new cell (mobile phone) lines a month to meet demand," he added.
