The British industry is set to launch an unprecedented promotion of its goods when Queen Elizabeth II visits India in October this year.
A range of sophisticated British goods will be on display at an exhibition called Towards 2000 to be held at Pragati Maidan, the capitals fairground, to coincide with the royal visit.
The British industry will focus on power generation equipment. While some of the mega deals announced earlier, like the one between Powergen and the Hindujas, remain stalled, British industry is pushing sale of medium-level power generation equipment.
Last year, the British industry sold 162 million pounds (Rs 940 crore) of power generation equipment to India, almost a third more than in the previous year. Industrial machinery of varying kinds now constitute the largest British export to India.
In an unexpected change, Indian manufacturers sold about 68 million pounds (Rs 400 crore) of power generation equipment to the British industry. The figures do not represent outright and separate sales, a trade official said, but collaboration in the manufacture of electrical equipment which is then bought in India.
The Towards 2000 exhibition has been billed as the major highlight of this year under the Indo-British partnership launched by former Prime Minister John Major in Delhi in January 1993. Britains department of trade and industry (DTI), which is organising the exhibition, has said the exhibition will be a showcase for Indo-British trade, investment and industrial collaboration.
Coming in the 50th year of Indian independence, the exhibition will be focusing on the next 50 years, promoting new partnerships and developments in science, technology, industry and culture, the DTI said.
The focal point of the exhibition will be an audio-visual display, with music and futuristic images. Stage entertainment will be arranged within a dedicated hospitality area.
But setting aside the special effects, British industry hopes to do serious business. Trade between India and Britain has risen 80 per cent to 3.3 billion pounds (Rs 19,000 crore) since the Indo-British partnership was launched. However, fresh direct investment by British industry in India remains miniscule despite picking up marginally in 1994.
British manufacturers of transport equipment, scientific equipment and electrical machinery are also expected to participate strongly in the exhibition. British sales of transport equipment and electrical machinery to India slumped last year. But manufacturers are keen to explore avenues for new ventures.
British exports to India have shown strong growth in organic chemicals and in paper, and paperboard goods. Several manufacturers of goods in these areas are expected to participate in the Towards 2000 exhibition.
Trade figures show the trade balance is weighted slightly in favour of Britain, with British exports accounting for 1.7 billion pounds and imports from India amounting to 1.6 billion pounds. But British export figures include export of half-a-billion pounds of rough diamonds, which are polished in India and re-exported. Keeping these diamonds out of the trade equation, the trade balance remains significantly in favour of India.
Some British buyers of Indian goods are also likely to participate in the exhibition. Britain buys large amounts of textile and fabrics, clothing, footwear, coffee, tea, spices and cereals from India.
Many British businessmen are already setting up meetings to further the prospects of collaboration with Indian traders and manufacturers.
