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Business Economy


International Business Festival to foster India-UK biz ties

New Delhi, Feb 24 (UNI) About 20 business delegations from India are expected to participate in the third edition of International Business Festival (IBF) being organised in partnership with Department of International Trade - UK government in Liverpool between June 12-28 this year. The event is poised to give new dimensions to the India - UK business ties.
Talking to UNI here on Saturday, IBF Festival Director Ian Mccarthy said the event is all set to leverage the growing business sentiment between India and UK.
Speaking about the Festival and the dynamics of business between India and UK, Ian Mccarthy said "As close trade partners, the Indian and UK business communities have a long history of collaboration. The 2018 Festival will provide a strong opportunity for start-ups, SMEs and larger corporations in India to develop import-export partnerships and generate new business. To date, the Festival has secured £250 million worth of business deals, and in 2018 we expect that the total value of deals will reach £1 billion."
The nine-day festival spread over three weeks will set a platform to bring together ambitious businesses connect with influencers, innovators and industry leaders to explore collaboration. The event will address Global Economics, Sustainable Energy, Future Transport, Manufacturing, Global Logistics and Shipping, Health and Lifesciences, Sports Culture and Travel among other important industries.
The festival program has been developed in collaboration with key industry partners which will enable organizations to showcase their offerings to potential buyers, investors and partners.
The event will also host some of the most advanced technology trends in businesses.
In 2016, the festival saw the participation of about 10 different delegations from India and this time around 20 delegates are expected to attend the event. Participants from prominent Indian companies, as well as emerging small and medium enterprises, will attend the festival as there are many opportunities to hear inspirational speakers, network with businesses and international ambassadors.
Anticipated participants at the festival are estimated be about 30,000 at the 2018 festival with 100 business delegations from across the globe.
Highlighting on how the festival will improve India-UK business relations, Ian said, "IBF is keen to build upon India’s previous participation and develop better trade between the two countries.
Speaking on his views on the impact to international businesses post-Brexit, he added," there are great opportunities for trade between UK and India post-Brexit since there are possibilities of forging new free trade deal outside of the EU."
Currently, India is the third largest investor in the UK and the second largest international job creator with Indian companies have created over 110,000 jobs in the UK. The UK is the second largest G20 investor in India.
The International Business Festival is the world’s biggest business event. Hosted every two years in its home city of Liverpool, the festival captures the dynamism and diversity of the global marketplace.
The goal is to give businesses space, support and expertise they need to make connections, do deals and realize their potential. The International Business Festival is co-funded by the City of Liverpool and the UK government through the Liverpool City Region combined authority single investment fund.
UNI JPG SHK 1914
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