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UK Firms Announce Multi-Million Pound Deals In India
29/07/2010
By Bob Northgate
UK firms announce multi-million pound deals in India
Business Secretary Dr. Vince Cable has welcomed a series of multi-million pound deals that were announced on Thursday morning in New Delhi between UK and Indian firms. The deals will support hundreds of jobs in the UK.
Speaking alongside Indian Road Transport and Highways Minister Kamal Nath, Dr. Cable said that the deals showed the enormous potential offered by partnering with firms in India, predicted to be the fastest-growing economy in the world this year.
Dr Cable said: “I warmly welcome today’s announcements. India is a country where you don’t have to be a multinational to succeed. We have superb UK companies operating here in partnership with Indian firms, and I would encourage more UK firms to explore the opportunities here.”
Among the deals announced today:
o London-based Benoy has won three major projects (two in Bangalore and one in Mumbai) worth over £1.6 million in fees for the international, award-winning British architect.
o In a multi-million pound deal, Rancore Technologies Ltd has selected Bath-based picoChip's technology for the development of base stations to be used in 4G mobile broadband networks in India and around the world.
Rancore will use picoChip's picoArray(tm) PC203 multi-core digital signal processor and picoChip physical layer (PHY) software at the heart of the base stations that will form the foundation of India's next-generation (4G) broadband wireless networks.
o Griffon Hoverwork, a Southampton-based manufacturer, has won a £34 million contract to sell hovercraft to the Indian coastguard.
This constitutes the largest ever order for UK hovercraft and will provide three years of work for the company. The company’s business in India is enabling the company to add 110 jobs to its workforce.
o London-based Xchanging plc. has signed an agreement with the Indian State Government of Karnataka to build a 2,000 seat processing centre on a six-acre site in a new Special Economic Zone.
Xchanging is the first multinational company to set up a centre in a Tier-3 location in India. This will also be a first for ‘green technology’ based centres.
Do you want to celebrate your overseas success?
Now entering its fourth year, the 2010 International Trade Awards, sponsored by Santander Corporate Banking, is the only UK wide business awards to exclusively recognise the excellence achieved by the UK’s leading exporters and importers. The prestigious UK Grand Final will be held at the House of Lords in spring 2011.
Applications for the 2010 International Trade Awards are now open for entry, you can apply online or email awards@internationaltrade.co.uk to request an application form.
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