AS NEGOTIATIONS around a UK-India Free Trade Agreement get closer to completion, new research shows India is a core focus for international growth for the West Midlands.
Grant Thornton UK LLP’s Business Outlook Tracker surveyed mid-sized businesses in the region, finding more than a third (34 per cent) of respondents were planning to invest more in growing internationally in the next six months.
Many had set their sights on India, with 60 per cent of respondents identifying the country as a focus international growth market.
The West Midlands mid-market is already very familiar with doing business in India, with almost three quarters (74 per cent) of the businesses surveyed already having an established presence there.
All of these have plans to expand their presence, with more than three quarters (86 per cent) having plans to do so within the next two years.
Mid-market businesses quizzed said the three main reasons for choosing India was ‘a fast growing and stable economy’, ‘a large working age population’ and ‘access to a large population of highly-skilled workers’.
