The Sheffield City Region (SCR) has opened the search for businesses wanting to grow their business links with India.
Applications are now open for the SCR’s India Growth Champions scheme with spaces for 10 companies available on the programme.
The scheme, a joint venture between the SCR and the UK India Business Council (UKIBC), is on the hunt for 10 small and medium-sized enterprises (SMEs) who want to develop their business links with India, which will include a trade mission to the country in autumn 2020.
Successful applicants will receive 10 days of dedicated support worth £5,000, alongside the development of an India business plan which will include company-specific market research and competitor analysis alongside workshops and business mentoring.
Each successful business will be guaranteed a minimum of five appointments with potential partners whilst in India as part of the trade mission.
There will also be three workshops that will provide a more in-depth analysis and understanding of the Indian business and regulatory environment.
The programme will continue with post-trade mission follow-up and support through to March 2021.
Rachel Clark, Director of Trade and Investment at the Sheffield City Region, said: “The India Growth Champions scheme is an exceptional opportunity for SMEs from across the region to develop their trade with India – an economy that will be the third largest in the world by 2030.
“India has been an under-exploited export market for the SCR. Whilst the EU accounts for 55% of our goods and services, India and China combined account for only 6%. We want to begin to change that. This scheme opens opportunities and we are confident will lead to real growth to the companies involved.”
The scheme officially launched on Tuesday 17 March and is open for applications until Tuesday 14 April.
In 2016, the Sheffield City Region exported £66m worth of goods to India – making it the region’s 13th largest trading partner. The Sheffield City Region now has more than 420 active exporters to the country. By 2025 the SCR aims to increase both the amount and numbers trading with India by more than 50%.
The programme follows a successful trade mission to Maharashtra, India, by delegates from the SCR, PES Performance Engineering, the Advanced Manufacturing Research Centre (AMRC) and the UKIBC in November. The visit highlighted the immense potential for trade to be increased between the two regions.
For more information on the India Growth Champions scheme and to apply please visit https://www.scrinvest.com/how-we-help/working-with-india/