UKIBC to open office in Mumbai

Mumbai, Sep 9 (UNI) The UK India Business Council (UKIBC) today announced its plans to open an office in the metropolis next month, to step up bilateral trade between the two countries.

The announcement follows the opening of its office in New Delhi yesterday.

The UK government supported UKIBC will guide business houses and investors from both countries on investment opportunities in India and the UK. It will also arrange local partners, give tax and legal advice, and angel investors for entrepreneurs.

''Though our primary sectors were the Intellectual Property (IP) and IT, we are just about open to all sectors with high growth potential. We have received inquiries on Joint Ventures (JV), Mergers &Acquisitions (M&A) and investment avenues in India from British firms especially in the software, retail, sporting and luxury sectors. Indian investors on the other hand are looking for opportunities in the IT and hi-tech sectors. With our economy's growth slowing down, this is the right time to invest in the UK, '' UKIBC (India) Chief Executive Sharon Bamford said.

The UK market could also be used as a launch pad for Indian companies to enter the EU and US markets, she added.

Reaffirming UKIBC's confidence in the Indian economy, UKIBC Chairman, Lord Karan Billmoria said, ''As reforms take place in other sectors, and foreign investors are allowed bigger stakes, avenues will open up. Big banks and entities like Lloyds are watching India closely,'' Mr Billmoria added.

UKIBC has also released a guidebook on how to invest in UK and India, and will provide early stage expertise, funding, for entrepreneurs. It will hold the ''Tiecon'' event at New Delhi on November 22, which will be followed by similar events in the city and Bangalore.

UNI ZC RN SKB1931