'UK's small cos keen on India imports’

LONDON: In the Midlands, home to Jaguar Land Rover (JLR) and the heart of Britain’s manufacturing industry, small and medium businesses are as likely to have trade links with India as big companies — companies with a turnover of less than £1 million are more likely to import from India than medium or larger firms. In a survey spanning exporting and importing behaviour patterns for over 2,000 British companies, a surprise Derby and Leicester top the charts for doing the maximum business with India — ahead of places like Birmingham.

The survey, commissioned by the Indian High Commission in London, finds that while 4% of the companies currently export products to India, around 8% actively import and 27% want to increase their exposure. Sectors with the maximum demand for imports from India are for dressing and dying of fur, textiles, electrical machinery, motor vehicles like trailers, and furniture. Raw materials, components, and equipment are likely to form the bulk of imports.

On the export side, maximum exports are in other transport equipment, rubber, plastic products and basic metals, with parts, machinery, plastics and systems emerging as the main items.

In order to tap into the latent demand among the SME sector in the Midlands, the Indian High Commission along with Indian industry associations are focusing on bringing together SMEs in both countries as an ongoing focus area, starting with an initiative to bring together Indian SMEs with their counterparts in Birmingham later this week. Indian SMEs, according to industry bodies, are keen on modern and cutting-edge technologies.

According to the survey, about half of the respondents are interested in selling technology to Indian firms, with the keenest sectors being in medical, precision and optical instruments, post and telecommunications, fabricated metal products and textiles.