Patricia Hewitt, Chair of the UK India Business Council (UKIBC) will be giving the keynote speech at a UK Trade & Investment (UKTI) High Growth Export Week event being held in Leicester.
Local firms are being urged to sign up for the Rise of the Indian Consumer event, which will take place on Thursday 16 May at Leicester City Football Club, between 3 and 6pm. It is being organised by UKTI with support from the UKIBC and Leicestershire Chamber of Commerce.
The Rt Hon Patricia Hewitt said:
“The world economy is shifting; economic difficulty in the UK’s traditional overseas markets and the growth of new emerging markets means the nature of the UK’s exports is changing rapidly. In 2011, India was the UK's largest export market outside the EU, with exports growing by a staggering 29%. But there is scope for even more growth.
“Events like this will help companies from Leicester and Leicestershire build on the UK’s export growth to India by showing them how they can tap into this huge growth, and so put the UK ahead of the competition.”
Peter Hogarth, Regional Director for UKTI East Midlands said:
“This event is set to be a highlight of our high growth Export Week. PWC research estimates that India’s retail sector alone is worth £542.5 billion.
“And it’s still in its infancy; modern retail is growing between 15 and 20 per cent a year. India is fast becoming an exciting and dynamic retail destination with opportunities in food and drink, fast moving consumer goods and luxury goods.
“The event will explore the stories behind the statistics and give delegates the opportunity to hear from India experts and national and local companies who are successfully exploiting the opportunities in this huge, high growth market.”
Latest trade statistics from HM Revenue & Customs show that exports from the East Midlands to Asia and Oceania for 2012 grew to a record high of £4.36 billion, a 22 per cent increase on 2011, but is still short of where we should be by comparison to other regions.
“The global economic centre of gravity has shifted towards high-growth markets and an increasing number of local firms are prospering by exporting to these markets:
“Through May’s Export Week we are looking to increase the momentum and reach as many businesses as we can with information about the support available for selling their products and services to millions of potential new customers.”
The event will also feature a welcome from John Townsend, Chair of the Leicestershire Chamber of Commerce International Focus Group, presentations from other India specialists and local companies who have already achieved success in India. These will be followed by a Q & A with the speakers.
John Townsend said:
“The Leicestershire Chamber of Commerce is particularly pleased to be hosting this prestigious event in Leicester – working alongside UKIBC and UKTI. The opportunities offered by this huge expanding market are enormous and with so many existing family and business connections with India, Leicester is in an excellent position to lead the way – and ‘hit the ground running’. However, we need to raise the awareness of local companies and to encourage them to start or expand their exporting activity – and this event will act as a catalyst in this respect.”
Export Week runs from Monday 13 May.For details of events taking place during export week visit www.exportweek.ukti.gov.uk or call UKTI East Midlands on 0845 052 4001.
East Midlands International Trade Association (emita) is a company limited by guarantee and is registered in England and Wales under company number 5568876. Registered office:3 Barrow Road Sileby LE12 7LW