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2014-05-30

SMEs key for India and UK trade growth: Scott Furssedonn-Wood

Small and medium enterprises are key to the growth of trade between India and the UK, Scott Furssedonn-Wood, British deputy high commissioner, Eastern India said.

Small and medium enterprises are key to the growth of trade between India and the UK, Scott Furssedonn-Wood, British deputy high commissioner, Eastern India said.

 

“We need to export more for the economy to grow. That growth has to come from SMEs,” Furssedonn-Wood said at a meeting organised by the Bharat Chamber of Commerce.

 

“At present, there are British SMEs exporting to India. The UK trade and investment office will identify more such companies who can export. We, as part of the government, play a very important role in connecting markets,” he said.

 

British companies exporting to India largely deal in manufacturing, automotive components and healthcare.

 

According to Furssedonn-Wood, there is scope of strengthening ties in infrastructure, city-building, manufacturing, power and healthcare. The two countries plan to double bilateral trade to about $38 billion by 2015.

 

“India needs inward investment and the UK specialises in raising and delivering investment capital. India also needs to better infrastructure and the UK specialises in that too,” he said.

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