Businesses that demonstrate India's global influence and success have been invited to put their names forward for a new competition.

The UK Trade & Investment India Business Awards, launched by Tony Blair, aim to celebrate the best partnerships between Indian and British companies.

Trade and Industry Minister Ian Pearson said: "I was in India last month, accompanied by a delegation from the Indo-British Partnership Network, and witnessed the very strong commitment to Indo-UK relations and business that exists there.

"So, I am particularly pleased that the UK Trade & Investment India Business Awards have now become a reality.

"The UK and India have a long and profitable history of business relationships. The UK is India's number one location for investment in Europe and the relationship goes both ways - India's economy is one of the fastest growing in the world and offers huge opportunities to UK companies in many sectors, particularly in terms of business partnerships."

UK Trade & Investment invites Indian and UK companies excelling in industries, such as information technology, software, pharmaceuticals, bio-technology, health-care, automotive and engineering services.

Award categories include investor of the year - for those Indian companies who have successfully set up in the UK - and the business partner-ship award.

There will also be an awards for innovation and entrepreneur of the year.