UK built environment sector eyes India infrastructure projects, visit Nagpur

2009-09-15 14:44:54 - Leading architecture and construction firms are in India visiting emerging cities where they are looking for new projects and businesses. The delegation will visit multimillion dollar MIHAN project in Nagpur and the Commonwealth Games village.

News Release
UK built environment eye India infrastructure projects, visit Nagpur



Architecture and built environment firms like Archial Architects have joined the Trade, Investment and Business Minister Lord Davies of Abersoch who is leading UKIBC delegation and urging UK firms to take a fresh look at India, a market with a middle class that is 300 million strong and that produces half

a million technology graduates every year.

Patricia Hewitt, Chair, UKIBC, said, “It is clear that massive new opportunities are opening up for UK businesses to contribute to India’s infrastructure needs. From consultancy and legal expertise through financing to building and operating Indian roads and other projects, the UK has world- class expertise. UKIBC will bring British businesses together to ensure that we assist in meeting India’s infrastructure needs
India has 35 cities with a population of over one million, and it is planning to spend half a trillion dollars on infrastructure development in the next five years. Nagpur, the geographical heart of India, is where all major road and rail networks cross. It is one of nine Tier-2 cities identified by the UKIBC as offering huge opportunities for UK business.
Design and engineering firm Scott Wilson is already here working on the giant MIHAN project that will transform the city into India's logistical hub, creating 400,000 jobs. And in New Delhi, other UK firms such as Arup and Mott McDonald are helping the city prepare for the Commonwealth Games in 2010.
Sharon Bamford, CEO, UKIBC said, “I am struck by the great plans and vision Nagpur has, not only to build a strong infrastructure but also to position itself as the aviation centre of Asia. Nagpur is the first city we are covering in our Emerging Cities programme. This will be followed by business delegations to Ahmedabad, Jaipur and Chandigarh over the next six months. This series of delegations underlines our commitment to work with Indian emerging cities and Indian businesses

The Indian Government has set a target of building 7,000 km of roads per year, and would require an investment of about 80 billion USD in the next 3-4 years. Half of this is expected to come from the private sector. It is inviting UK PLC to participate in Indian infrastructure.

JCB India, which has a 53% market share in the domestic construction equipment segment, said “No one in the financial world cannot see the potential in India said Philip Bouverat of JCB, “We believe it is doable and UK has a special role to play in this sector. UK contractors are saying ‘when can we come”

“India is on the move and we must move with it Lord Davies said. “UK firms must rethink India. It’s been over a decade since outsourcing was the buzzword. Now innovative Indian and UK firms are working together at the top end of the industrial spectrum – on pharmaceuticals, electronics and advanced manufacturing. India’s talent, confidence, energy and entrepreneurial spirit must be seen to be believed

Lord Davies is visiting India from 14 to 17 September. Ahead of the G20 meeting in Pittsburg, he will discuss trade with his ministerial counterparts, appointed after May elections that brought in a new government. He will visit Nagpur, the ‘zero-mile’ city at India’s geographical heart, and Mumbai, where he will present the UK Trade & Investment India Business Awards.

India factfile

• The Indian middle class is 300 million strong. This represents a single English-speaking market comparable in size to the population of all of the UK’s EU trading partners combined.

• McKinsey Global Institute has forecast that India may become the fifth largest consumer market in the world by 2025.

• According to the Planning Commission of India, over US$500 billion of funding is needed for new power stations, airports, roads, railways, seaports, waterways and urban infrastructure over the next five years.

• Almost 40% of Indians are younger than 15.

• Less than 40% of Indian households have a bank account and only 2% have insurance cover. Like the UK, India has a common law legal system.

• 10 million mobile phone handsets are sold in India every month.

UK-India business
• The UK’s bilateral trade with India is worth £12.6 billion and has seen double-digit growth in the last year. The UK’s exports to India were up almost 30% in 2008 to £5.9 billion while imports were up 17% in 2008 to £6.2 billion.

• The UK is the biggest European investor in India and India last year overtook Japan to become the biggest Asian investor in the UK. Over 600 Indian firms are represented in the UK, of which about two thirds are in information technology or software. Last year alone, almost 4,000 new jobs were created in the UK by Indian investment.

ENDS



Media contact:
For more information email or call ishara callan on 02075923045 or ishara.callan@ukibc.com

Notes to Editor:

About UKIBC: The UK India Business Council (UKIBC) is the top membership-led organisation supporting the British Government in the promotion of trade, business and investment between the two countries. For more information or to read the Emerging Cities Report, please go to www.ukibc.com

UK Trade & Investment (UKTI) is the government organisation that helps UK-based companies succeed in the global economy. We also help overseas companies bring their high quality investment to the UK’s economy – acknowledged as Europe’s best place from which to succeed in global business. UKTI offers expertise and contacts through its extensive network of specialists in the UK, and in British embassies and other diplomatic offices around the world. We provide companies with the tools they require to be competitive on the world stage. For more information please visit www.uktradeinvest.gov.uk or telephone +44 (0)20 7215 8000. For latest press releases, visit the online newsroom at www.newsroom.uktradeinvest.gov.uk.