Contributors
International law firm Womble Bond Dickinson (WBD) has held an event with the West Yorkshire Combined Authority (WYCA) and UK India Business Council (UKIBC) touching on the benefits the region can experience through the development of stronger trade links with India.
The firm's Leeds office hosted a briefing and orientation session for the West Yorkshire India Programme to highlight the details behind WYCA's new trade mission to the country and how the region's businesses can further foster a positive trading relationship. The programme, introduced by CEO of WYCA Ben Still and supported by the UKIBC, highlighted the essential needs for doing business in India, including the importance of relationship building, and networking.
In addition, Alison Orr, intellectual property strategist at Womble Bond Dickinson, provided an overview of the IP landscape in India and a practical checklist of key considerations to protect and monetise IP when trading overseas, while insight was provided by a representative from professional services group EY on the nation's tax and regulatory framework prior to a Q&A session to ensure delegates were equipped with practical actions to take before continuing to build links overseas.
The total bilateral trade between West Yorkshire and India currently amounts to £729 million annually, with companies involved in the trade mission highlighting the benefits of tapping into a strong trade relationship with India, which has an economy projected to reach £5 trillion by 2027 and currently supports more than 900 million internet users across the country.
Alex Wright, international markets development manager at the West Yorkshire Combined Authority), commented:
'We are delighted to be leading this fantastic delegation of West Yorkshire companies to India. The trade mission is a pivotal opportunity for West Yorkshire’s manufacturing and tech companies to expand into one of the world’s fastest-growing economies. With 599 West Yorkshire businesses already exporting goods to India, and India’s digital and industrial sectors surging in a £3.7 trillion market, we are committed to forging new partnerships, drive investment, and showcase the innovation and strength of our region’s business ecosystem on a global stage.”
