PWC – Accelerating UK-India Investment
UKIBC Strategic Partner, PWC, have launched their thought leadership campaign to drive business opportunities founded on common values between the UK and India.
Whether you have been doing business bilaterally for years or are just starting out, PWC are applying their wealth of experience in the UK and India to help clients identify and seize the right opportunities.
Why? Already the world’s sixth largest economy, PwC projects India will rise to second place by 2050 in purchasing power parity terms. India is also a world leader in high-value, high-tech industries, ranking third in the world for active ‘unicorns’, start-ups valued at over US$1bn.
As PWC Manager of Strategy, Krishna Joshi, highlights, this presents a big opportunity for the UK. By building and nurturing trade links with India, the UK is not only a partner in spurring India’s growth, but also stands to reap the benefits from it.
Sunil Patel, Chair of the UK India Group at PwC UK, commented:
“What makes the business relationship between the UK and India unique is our shared history, culture and ways of doing business which have developed over centuries. In the UK this is embodied by the ‘living bridge’, the Indian diaspora whose achievements and acumen help to cement the strong ties between the two countries.
“This same common culture and understanding helps UK businesses enter the Indian marketplace. The UK’s working age population is projected to decline due to an ageing population, but India’s expanding and educated young workforce could provide an answer for businesses looking to grow.”
Indeed, UKIBC’s recent roundtable on the importance of soft power underpins the need for businesses to invest in the ‘common culture and understanding’ Sunil talks of in order succeed.
Data from UKIBC reveals India is routinely among the UK’s top five inward investors and Indian goods exports to the UK have almost quadrupled since 2000.
Richard Heald, OBE, CEO at the UK India Business Council, said:
“The UK and India are at an exciting phase in their economic relationship. Bilateral economic ties are vibrant and wide-ranging, and, commercially, there is untapped potential between the two economies. At this time of global economic uncertainty and change, there are opportunities to nurture, grow and sustain two-way flows of trade and investment.”
As the UK prepares to leave the EU and India looks to fulfil its potential, PWCs campaign shows that there’s a golden opportunity for UK-India business relations.
To visit PWC’s thought leadership campaign website click here.