British firms looking for opportunities in India,says Deloitte

A senior Deloitte official said rising demand from emerging middle class population in India offers good growth opportunities,Deloitte8217;s Vice Chairman International Markets and Lead Partner,Africa and India Services Groups in the UK Vassi Naidoo said.

8220;UK has significant capability in technology and innovative skills8230; these can be used in partnership with India that goes beyond trading. We UK companies want to share our knowledge and commercialise it for benefit of both the countries,8221; he said.

India is expected to see an investment of about USD 1 trillion in the current Five Year Plan 2012-17,with significant contribution expected from the private sector.

Last month,British Prime Minister David Cameron visited India along with a large delegation of businessmen.

The United Kingdom,including many companies from that nation,already have substantial investments in India.

Presently,UK accounts only for about two per cent of India8217;s global imports,a Deloitte report has said.

The Indian middle class,according to Naidoo,would witness an unprecedented growth in the near future. This section of the India would then demand world-class services in infrastructure,education,healthcare and financial services,he added.

8220;The growing middle class is the catalyst,8221; Naidoo said.

Further,according to Deloitte,India8217;s infrastructure sector provide opportunities for world8217;s manufacturing,energy and telecommunications players to accelerate their presence.

8220;Indian infrastructure is not world class and needs to be upgraded,we have a lot of experience in the field8230;we UK would like out builders,technicians to work in collaborative fashion with India and lend support in this sector,8221; he added.