IT SMEs in India and Britain are collaborating to strengthen investment and technological development in both nations. This was announced in a program launched in New Delhi that focused on the Indo-Britain technological development. British High Commissioner James Bevan, Industry (FICCI) Secretary General Rajiv Kumar and UK-India Business Council (UKIBC) Chief Executive Richard Heald signed an agreement on the same.

IT SMEs in India and Britain to Collaborate

The investment report of 2010-11 revealed that India is the third largest investor in Britain. Therefore, this partnership is expected to be promising. It would allow Indian companies to have an access into Britain’s valuable technology and vice versa. These companies can also expand their technology capacity in the market.

George Osborne, British Chancellor of the Exchequer has high hopes on this initiative. He said, “Indian companies demand the very best. That is what many highly innovative British enterprises offer. But even in our highly networked world, opportunities to match the right British technology to the right Indian partner can be missed.” This initiative would reduce the technical gap in between India and Britain. He further stated that the new ideas in the market would benefit millions of people.

The program would also support trade partnership between Indian and UK companies. FICCI stated that during the first two-three months they would design and prepare proper plan as well as look into the potential funding options. Depending on this research phase, the rest of the program would be carried out. The initiative would be jointly run by UK Trade and Investment (UKTI), FICCI, and UKIBC.