20. June 2011 18:11
A new trade service offers UK life science companies opportunities to develop export opportunities in India.
Offered by the UK India Business Council (UKIBC), a business-led organisation backed by UK Trade & Investment (UKTI), the service is aimed at companies – especially SMEs – seeking to access the Indian market.
For £35 per month, UKIBC will provide member companies with business intelligence, events and reports, and link companies in to ‘communities’ around new business opportunities in sectors including medical technology and e-health.
The service, launched in 1 July, aims to help UK firms understand the Indian market, identify business opportunities, and connect with potential partners through an online B2B hub.
Over the summer, UKIBC will enable members to meet business and ministerial delegations from India. A delegation consisting mostly of medtech SMEs from the UK will be taken to India in October to explore partnerships with Indian companies.
As a recent Epsicom Business Intelligence report notes, the growth of private sector healthcare in India has led to a considerable increase in health tourism as well as domestic business. This has created opportunities for UK manufacturers of high-tech medical products. There are also opportunities for UK and Indian companies to form partnerships for manufacturing and technology transfer.
Richard Heald, CEO of UK India Business Council, said: “I urge healthcare companies to focus on the huge opportunities existing in fast-growing economies like India,” where current industrial growth offers UK companies “the chance to export their way out of the downturn.”