Time is running out for North East firms wanting to learn first-hand about the business opportunities available in India.
And they are being urged to take a leaf out of Electric Vehicle Systems from Washington if they want to break into the Indian marketplace.
EVS has been operating in India for over 25 years, but keen to ensure it was making the most of the opportunities the market had to offer, it contacted UKTI and used a range of services including the Overseas Market Introduction Service (OMIS).
The company, which employs six people at its Washington base, is a leading worldwide provider of electronic systems for all types of electric vehicles including electric scooters, the Southport pier tram (right), electric passenger transport vehicles, airport ground support equipment, electric trains, electric trams and forklift trucks.
UK Trade & Investment (UKTI) will be taking a delegation from the North East to India between 3 – 10 March 2012, to enable companies to find out more about the market and meet potential customers.
Companies have until Friday 4 November to book a place on the visit.
India is the second fastest growing economy in the world, after China. As its consumer class grows, the business opportunities which until a few years ago existed only in the traditional economic heartlands of Mumbai, Delhi and Bangalore have now extended to the emerging cities of Nagpur, Ahmedabad, Chandigarh, Pune and Jaipur to name but a few.
Gary Holmes, Managing Director at EVS, explained: “We knew that there could be a lot of potential for our operation in India but it was only when we physically went out there that it became apparent how vast this market is. We knew at that point we needed some support to help us make the decision where to site our office, and the market intelligence that the OMIS report provided was a great help.
“Our India office opened in 2009, in Kolkata, and since then has gone from strength to strength. We initially set it up as a sales office, but now it also houses an assembly facility and a service and repair department. And as the leisure industry in India grows, we’re confident that we’ll develop our presence in that sector too.
“We’re now looking at using our India base as a springboard to make the most of opportunities even further afield, such as in Singapore and other markets in the Far East,” he said.
Geoff Young, one of UKTI’s International Trade Advisers, who will accompany the delegation, said: “The success of EVS in India shows that small firms can and do succeed in complex overseas markets. The UK has strong ties with India and as it is one of the world’s fastest expanding economies there are plenty of opportunities for North East companies in all sorts of sectors to do business there.
“Smaller companies are often reluctant to visit new export markets. This may be a fear of the unknown, a lack of knowledge of the business opportunities in the market and an uncertainty as to who are the buyers or sellers and who the competition in the market is,” he said.
For more information, or to find out about the wide range of support services available through UK Trade & Investment , call the North East International Trade Hotline on 0845 05 05 054 or email: enquiries@ukti.rito.co.uk. You can also follow on Twitter at twitter.com/UKTINorthEast.
