India has recently overtaken China to become the world’s fastest growing economy – perfect timing for Yorkshire businesses as Leeds City Region’s India Business Club has just opened.
Launched by Dr Virander Paul, the Deputy High Commissioner of India, it’s hoped that the India Business Club will prove to be beneficial when it comes to strengthening the economic, social and political ties between Yorkshire and India.
India has been predicted to enjoy economic growth of 7.5% in 2015 and 2016 in comparison to China’s 6.3%; proof if proof were needed that companies in Yorkshire really need to start thinking about doing business in India.
India has been predicted to enjoy economic growth of 7.5% in 2015 and 2016 in comparison to China’s 6.3%; proof if proof were needed that companies in Yorkshire really need to start thinking about doing business in India.
Whilst the business potential of India is clear to see, there is still a lot that Yorkshire companies need to learn about doing business in India and this is where the India Business Club comes in. A range of services will be available, from practical advice and support on how to make the most of the opportunities available, through to guidance on avoiding the pitfalls. In addition, the India Business Club will also provide information on the range of opportunities available in and around the City of Leeds to help encourage firms from India to do business in Yorkshire.
Leeds University Business School is a founding partner of the India Business Club and is home to the James E Lynch India & South Asia Business Centre, which has a long-established record of working with students, academics and Indian businesses.
Businesses based in Yorkshire can seek help from Leeds University Business School in a number of different ways. The James E Lynch India & South Asia Business Centre carries out research into the problems faced by multinational enterprises in India when they do business with companies in Europe, and UK/EU firms working with Indian businesses. In addition it carries out market research into the Indian economy, working with business organisations and chambers of commerce to provide networking and training opportunities for UK-based SMEs who are interested in India.
There’s no doubt that the sheer size of India can prove to be incredibly daunting to Yorkshire’s SMEs, however Indian economy is incredibly dynamic and offers a huge range of opportunities. Construction, IT, software, tourism, trade and banking are growing rapidly and so capitalising on these opportunities is something Yorkshire businesses should definitely make the most of.
