Lord Mayor of The City of London inaugurates UKIBC’s new UK India Business Centre in Mumbai

By Kealan Finnegan

9 December 2014, Mumbai - UK India Business Council's new UK India Business Centre in Mumbai was formally inaugurated by Alderman Alan Yarrow, Lord Mayor of London today.

As part of its expansion strategy to support UK companies do more business in India, and to reaffirm the UK’s position as the largest investor in India, UK India Business Council has chosen Indian’s financial hub, Mumbai, as the location for the third UK India Business Centre.

The Centre will provide a home away from home and end-to-end in-country support for UK businesses looking to set-up or expand their operations in Western India. The addition of Mumbai to the UK India Business Council’s pan-India network creates a unique access point for UK companies operating across India into the country’s centre for financial and professional services.

The Centre will also extend the reach of UK India Business Council’s influential Sector Policy Groups, including our new Financial, Legal and Professional Services Group, and will provide unprecedented support, advice and networking opportunities to UK companies in Mumbai.

To coincide with the inauguration of the UK India Business Centre in Mumbai, the UKIBC and TheCityUK, the representative body for UK based financial and related professional services, are pleased to announce a new strategic relationship. The collaboration will provide an aligned and business-focused approach to the key issues facing UK financial and related professional services firms operating in India.

Recognising that the UK’s financial and related professional services firms already play a leading role in India as a source of both FII and FDI flows, the UKIBC’s and TheCityUK’s partnership will work to ensure that these firms continue to build on this leading position and remain relevant to India’s agenda.
As part of the collaboration, TheCityUK will lead on the strategic direction for the sector, with UKIBC providing intelligence-gathering and market insights from businesses operating across industry sectors which will inform UK plc’s debate on the strategy and priorities for the sector.

Speaking about the collaboration Richard Heald, CEO, UKIBC said “I’m delighted that through the UK India Business Council’s new Centre in Mumbai, where for the first time we will have a dedicated Financial, Legal, and Professional Services specialist based in India, we will be able to assist TheCityUK to form and project their and our members’ strategic engagement with India. Opening this centre is a reinforcement of the positive sentiment about India. Coupled with our centres in Gurgaon and Bangalore it firmly establishes the UK India Business Council in Northern, Southern, and Western India. This will enable the UK India Business Council to deliver meaningful policy and sector insights, grounded support across a range of services, and to act as a focal point for UK-India commercial interactions.”

Chris Cummings, Chief Executive, TheCityUK, said, “India is a key growth market for UK financial and related professional services firms. At a time when India’s government is looking to progress long awaited reforms, this strategic relationship plays to both organisations’ strengths and will result in deeper and more effective engagement of UK firms in and with India.

With rapidly increasing interest in the Indian market, the UK India Business Council in Mumbai will work closely with UKTI in Western India, the British Business Groups in Ahmedabad, Mumbai, Goa and Pune, and with both UK and Indian businesses and institutions to ensure that the services and policy advice are available to build trade and investment between the UK and India.

Inaugurating the centre, Lord Mayor of London, Alan Yarrow said: “As the economic ties that bind India and the UK become even stronger, any steps which look to promote the trade relationship between our two countries are a welcome measure. The UK-India Business Council over the past few years have had an incredible impact in helping create this positive business dialogue. That is why I am delighted to be opening their new offices in Mumbai and look forward to working with them more in the future.”

Also speaking at the occasion, Kumar Iyer, said, “Mumbai is the largest metropolis as well as the financial, commercial and movie capital of India and a great place for British – Indian collaboration across relevant sectors. I am delighted that the UK India Business Council has chosen Mumbai for its next business centre and the opening in Mumbai is testimony to the strong leadership in business shown by this state and the commitment of UK businesses to explore greater opportunities in this region. The UK government welcomes and supports the opening.”

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For further information please contact: Manoj Kumar K/ Rolly Agarwal, Adfactors PR, +919742272213/ +919742272209 manoj@adfactorspr.com/ rolly.agarwal@adfactorspr.com

UK India Business Council (UKIBC) is the premier business-led organisation promoting bilateral trade and investment between the two countries. Its mission is to facilitate an increase in trade between the UK and India through business to business dialogue. UKIBC plays an influential role in creating and sustaining an environment in which free-trade and investment flourishes. Through the facilitation of partnerships, and with an extensive network of influential corporate and individual members, UKIBC provides the resource, knowledge and infrastructure support vital for UK companies to make the most of emerging opportunities in India. For further information please visit www.UKIBC.com

UK India Business Centres: Taken with the first Business Centre opened in Gurgaon September 2013 and the second Centre in Bangalore in June 2014, the UKIBC committed and keen to offer active services and support across the major areas of economic activity in India. UKIBC Business Centre network across India is part of a global initiative by the UK Government to strengthen British business networks in 40 overseas markets and is designed to transform the quantity and quality of support available to British businesses, especially SMEs, seeking to enter or expand in India. The facilities, which are available to all UK companies, include office space, meeting facilities, hot-desking, event space and a Launchpad® service.

Pacific Business Centres: The Mumbai centre like the other UKIBC centres in Gurgaon and Bangalore will be managed by Pacific Business Centres, who are UKIBC’s real estate partner.
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