A survey on opportunities and challenges for Indian businesses setting up and operating in the UK
Eyes wide open
In a groundbreaking initiative undertaken jointly by Deloitte UK and the Confederation of Indian Industry (CII), Deloitte UK interviewed senior executives at Indian companies operating in the UK on the opportunities and challenges of entering and operating in the UK. Through these interviews we identified a number of consistent themes which we believe provide useful insights for Indian businesses considering the expansion of their global footprint in the UK.
- Taking advantage of Brand Britain – Indian businesses that provide goods and services from the UK can benefit from the perception that the Great Britain brand guarantees a high level of quality – a key competitive advantage in growth markets;
- Not for the fainthearted – The UK can be a rewarding marketplace for new entrants with a clear long-term strategy and imperative to set up here;
- Leveraging local talent – The high cost of moving staff means that most businesses only transfer senior managers from India, and hire the majority of their teams locally in the UK;
- A leading global financial centre – There was almost total unanimity from respondents that London’s reputation as an international financial centre has not been significantly damaged by the ongoing global economic crisis, and that the UK retains its competitive advantage in financial services; and
- UK status as a European tech hub – Indian companies operating in the UK recognise that they can derive significant benefits from the focus of the current government on encouraging new technologies and the growing strength of the UK’s technology sector.