London, Feb 3 (IANS) A high level British business team led by a senior official will be travelling to India next week to pitch for UK firms for trade opportunities in the lucrative Indian defence market.
The five-day visit beginning Monday by Gerald Howarth, the minister for international security strategy, comes days after French firm Dassault was declared the lowest bidder in a multi-billion dollar fighter jet deal in India, outbidding a European consortium.
An official statement said the “trade mission” for British defence companies is organised by United Kingdom’s Trade and Investment Defence and Security Organisation (UKTI DSO), in co-operation with Aerospace Defence Security (ADS).
Howarth will be meeting “key decision makers and potential partners in the Indian defence sector” including Minister of State for Defence Pallam Raju.
The delegation will visit Delhi, Bangalore and Mumbai “each with a particular focus”.
“Delhi for the overarching Indian government perspective, Bangalore for aerospace, electronics and land systems and Mumbai for maritime systems.”
“Each hub will provide an opportunity for real business to business interaction identifying opportunities and potential partnerships as well as providing UK companies a better understanding of how to do business in India.”
They will also meet private sector leaders facilitated by the Confederation of Indian Industry (CII), Federation of Indian Chambers of Commerce and Industry (FICCI) and the Associated Chambers of Commerce and Industry of India (ASSOCHAM).
The visit has been planned as India’s defence budget is estimated to rise to some $42 billion by 2015. India is also likely to spend some $120 billion on defence in the next five year plan (2012-2017).
