A new \\\'India Readiness Programme\\\' for British companies keen to make their entry and expand into the vast Indian market was launched in London on Tuesday.
A new 'India Readiness Programme' for British companies keen to make their entry and expand into the vast Indian market was launched in London on Tuesday.
The UK India Business Council (UKIBC) has joined forces with Cambridge-based cross-border firm, AcceloratorIndia, to offer the unique service which covers research, business development and advisory support.
The programme will combine AcceleratorIndia's expertise in technology and innovation-led business development in India with UKIBC's network and pan-India Business Centre platform.
The India Readiness Programme, to be offered for a fixed fee yet to be worked out, allows UK companies to assess how well prepared they are for India market entry.
It offers a range of services including establishing product or service relevance with local Indian market needs, addressing the unique challenges of selling into India such as channels to market, scaling up profitably, pricing and business models.
Structured as a workshop followed by a review session, the programme provides UK companies a very effective and rapid way to gain a better understanding of the opportunities, challenges and risks of doing business in India.
A recent survey of Britain-based firms found that 60 per cent of companies find getting to grips with the Indian market problematic and around 55 per cent find understanding Indian business culture an issue.
This new service will help address the main challenges faced by Britain's SMEs.
Meanwhile, the UKIBC is all set for the official launch its first UK India Business Centre in Gurgaon in mid-September to offer a one-stop hub for British companies eyeing the Indian market and vice versa.