Scotland scouts for Indian entrepreneurs

Says creating synergies with Indian entrepreneurs in software, pharmaceutical, bio-technology and food processing can help to spur the employment generation in Scotland

Scottish Development International (SDI), the investment and trade promotion agency of the Scottish government, is scouting for Indian entrepreneurs for investments in Scotland. It has been organising seminars to create an interface between Indian and Scottish entrepreneurs.

Rooma Kumar Bassi, director-north and east India, said creating synergies with Indian entrepreneurs in software, pharmaceutical, bio-technology and food processing can help to spur the employment generation in Scotland.

SDI had been engaged in organising awareness programmes in different parts of India to inform the medium- and small-scale entrepreneurs about the opportunities.

She said there was no threshold limit on investment for foreign direct investment (FDI) in Scotland. A viable business model, potential of employment generation and wealth creation were the parameters to assess the business proposal.

Incentives such as regional selective assistance, research and development (R&D) funding and concession on corporate tax is provided to the foreign investors in selected areas.

A grant of 10 per cent - 25 per cent on capital investment is offered under the regional selective assistnace for setting up businesses in the areas decided for the scheme.

To help pharma companies ctreate a new product line, R&D funding is offered, she added.

A relaxation in corporation tax of up to 14 per cent is offered to the pharma R&D players, if the patent is registered in the UK.

She said the bilateral trade between India and Scotland was £380,000 (only tradeable items excluding services) in 2012.

The trade between the two grew at 15 per cent in the last two years. The SDI is making concerted efforts to open new trade channels for both small and large players in the two countries.