British cos looking for opportunities in India, says Deloitte

NEW DELHI: British companies are looking for opportunities in India, especially in the infrastructure space that is expected to see investments worth USD 1 trillion in five years, according to global consultancy Deloitte.

Apart from infrastructure, UK companies are also interested to invest in other high growth potential sectors such as finance, education and health.

A senior Deloitte official said rising demand from emerging middle class population in India offers good growth opportunities, Deloitte's Vice Chairman (International Markets and Lead Partner, Africa and India Services Groups) in the UK Vassi Naidoo said.

"UK has significant capability in technology and innovative skills... these can be used in partnership with India that goes beyond trading. We (UK companies) want to share our knowledge and commercialise it for benefit of both the countries," he told PTI.

India is expected to see an investment of about USD 1 trillion in the current Five Year Plan (2012-17), with significant contribution expected from the private sector.

Last month, British Prime Minister David Cameron visited India along with a large delegation of businessmen.

The United Kingdom, including many companies from that nation, already have substantial investments in India.

Presently, UK accounts only for about two per cent of India's global imports, a Deloitte report has said.

The Indian middle class, according to Naidoo, would witness an unprecedented growth in the near future. This section of the India would then demand world-class services in infrastructure, education, healthcare and financial services, he added.

"The (growing) middle class is the catalyst,"Naidoo said. Further, according to Deloitte, India's infrastructure sector provide opportunities for world's manufacturing, energy and telecommunications players to accelerate their presence.

"Indian infrastructure is not world class and needs to be upgraded, we have a lot of experience in the field...we (UK) would like out builders, technicians to work in collaborative fashion with India and lend support in this sector," he added.