Businesses from across London were given a showcase in exporting to India by the HM Trade Commissioner for South Asia, Crispin Simon, at a free event hosted by the Department for International Trade (DIT) on Friday 28 June.
This comes as a new analysis of HMRC by the Department for International Trade reveals that exports from London to India are worth £1.1bn per year, representing 21.3% of the total of UK exports.
The event provided businesses with support and advice to firms looking to explore exporting and investment opportunities in one of the world’s fastest-growing economies. This included two companies who are already exporting to India, Nkd Life and Coltraco, sharing their experience as London Export Champions.
Parveen Thornhill, Head of London Region, DIT said, “In the last 12 months, London exports to India grew by 89.5%, but there is potential for so much more. India is a vibrant and dynamic economy, presenting a valuable opportunity for businesses from across London to develop stronger trade links outside Europe.
“The success of businesses already exporting to India demonstrates the global opportunities that are out there for London-based companies. If these companies can, so can others, and we’d encourage any business to get in touch. We can offer a range of support, including workshops and support for selling products and services online, as well as introductions to valuable business contacts overseas.”
Coltraco Ultrasonics, which designs and manufactures products for the maritime, offshore and energy sectors, currently exports to 109 countries around the world, recently winning contracts to supply 200 Indian Navy vessels with Portascanner® WATERTIGHT integrity inspection solution. The company has been recognised for its services to international trade, winning a Queen’s Award and an OBE for its CEO and Marketing Director and being named a DIT London Export Champion.
Carl Stephen Patrick Hunter OBE, CEO & Managing Director, Coltraco Ultrasonics said,”While working in international markets like India presents challenges, it is also a vibrant and exciting country with many opportunities for UK businesses. I look forward to sharing my insights, experiences and tips with other companies which are either starting or expanding their operations in India.
“With Coltraco Ultrasonic’s 30-year experience in exports, we are well accustomed to managing and succeeding abroad, as 40% of our total exports now come from Asia. I am proud to lead my wonderful team which has ensured that Coltraco has exported its products around the world.”
Another business which will share their experiences and insights is Nkd Life, a London-based company which specialises in the design, development, manufacture and sale of water purification and filtration bottles. The company is a DIT export champion and exports globally to markets including India and the United States.
Nik Soni, at Nkd Life said, “Our product, with its unique three-stage filtration mechanism which instantly cleans water for drinking, is perfect for consumers around the world who don’t have access to clean drinking water. “India is projected to be one of our most important growth markets globally for the future and as such we have set in motion a very significant marketing, investment and product release strategy. We look forward to sharing insights, hints and tips with companies which want to make the most out of the opportunities in this vast market.”