Business Secretary Vince Cable is leading a delegation of 50
British companies this week to India, one of the world's most
dynamic economies, to strengthen the enhanced partnership between
the two countries and co-chair trade talks.
Among the West Midlands companies represented are Birmingham
software firm Delcam plc and Birmingham Airport.
The visit follows on from the mission led by Prime Minister
David Cameron in July last year. Dr Cable, who was part of that
trade mission, will be the first UK Cabinet Minister to visit this
year.
Business Secretary Vince Cable said: "Last year, we set out a
broad framework for our enhanced partnership. In 2011, we are
moving beyond that, rolling up our sleeves and working
together.
"India is very important to the UK, and the UK has the expertise
to develop the capacities it needs to fuel its growth. Our business
relationship is already strong, but it could be stronger.
"India is focused on its drivers for growth and development such
as infrastructure, education and skills. That's why I am taking a
trade mission with me and talking to British businesses in India
that can help to meet that demand.
"I am also passionate about encouraging more British firms of
all sizes to look to India as a place of real business opportunity,
and more small Indian companies to look to the UK as their European
destination of choice.
"This visit will significantly strengthen our enhanced
partnership for the benefit of British and Indian companies, for
the benefit of our economies, and for the benefit of both our
peoples."
Birmingham Airport's CEO, Paul Kehoe, said: "Birmingham Airport
is a Strategic National Asset, with capacity to handle another nine
million passengers tomorrow. Being part of this trade visit will
help realise the Airport's potential and is important to re-instate
air links between Birmingham and the Indian subcontinent.
"There is enormous demand from the region for a direct service
to India from the Midlands. With 350,000 people of Indian origin
living within one hour of the Airport, there is undoubted potential
here at Birmingham."
Delcam's Marketing Manager, Peter Dickin, said: "India is an
important and growing market for our manufacturing software. We are
delighted to be able to support this high-profile mission to India,
which will add to our high reputation in the country."
The UK's bilateral trade with India is currently worth around
£11.5bn. Exports have continued to grow since the July visit
with latest figures showing a rise of 35% in UK exports to India in
the year to October.
During the visit, the Business Secretary will meet businesses
and Indian Government officials. In Mumbai, he will attend the
launch of Smith Medical Group's Indian subsidiary. In Delhi, he
will co-chair Joint Economic Trade Committee (JETCO) talks with
Indian Commerce Minister Anand Sharma.
Infrastructure will be a major theme of the visit. He will meet
Finance Minister Pranab Mukherjee at the first meeting of the
British-India Infrastructure Group and also meet India's Road
Transport and Highways Minister Kamal Nath. The UK and India are
looking at how to deepen collaboration on infrastructure, and how
to exchange knowledge and expertise.
Another key theme is investment. There are around 700 Indian
companies with investments in the UK, and the UK receives more than
50% of India's investment into Europe.
To illustrate the potential of the Indian market, this week,
Airbus, which employs 10,000 people in the UK, announced that it
had signed a memorandum of understanding with Indian airline IndiGo
for the supply of 180 A320 and A320 NEO aircraft. It is estimated
that the UK has approximately 20% of the workshare on the
A320.