Companies in the West Midlands are being offered a business passage to India thanks to a new initiative.
Eurochambres – the association of European Chambers of Commerce and Industry – has signed a major agreement to establish a European Business and Technology Centre (EBTC) in India.
The centre will become the first reference point for promoting European business and research in one of the fastest growing economies on the planet.
The EBTC will be situated in New Delhi and will provide firms in this region with a focal point for trade.
Alan Durham, director of international trade at the Coventry and Warwickshire Chamber of Commerce – a partner in the new centre along with Coventry University, said local companies should take advantage of the initiative.
He said: “It seems an understatement to describe India as an emerging market. There are more than one billion people and the economy is growing at a rate of almost 10 per cent.
“Our companies must take full advantage of such a vast market and I believe this new centre will provide the ideal starting position for any company looking to trade out there.”
Mr Durham said he expected firms operating in the environment, energy, biotech and transport sectors to benefit the most.
The EBTC will be implemented by Eurochambres and 16 partners combining business organisations, academic and research institutes from all over the European Union.
It will work closely with the already established national service providers and bilateral Chambers of Commerce.