The East Midlands Development Agency (Emda) has become the first UK-based regional development agency to target investors in India. The appointment of Deloitte Touche Tohmatsu India in Mumbai to carry out investment promotion is part of the agency’s plan to bring new jobs and industries to the region from lucrative overseas markets.

Deloitte is targeting businesses around five major economic centres across the sub-continent. The sectors include engineering, healthcare, IT, education and environmental and food technologies.

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According to Mike Balkham, marketing manager for Emda, 60% of Indian investment into Europe comes into the UK, so it is strange that no other agencies have targeted the market.

“The UK’s significant personal and business links, language and strong historical ties, are decisive factors for Indian companies looking at this country as a base for the European market,” said Peter Gadsby, an Emda board member. The East Midlands has particularly strong ties because of a large Indian population in Leicester.

He adds that companies usually look to London so it is necessary to target investors and inform them of the strengths of the East Midlands, particularly in R&D in high performance engineering and pharmaceuticals. A skilled workforce and cheaper property than the Southeast of England are available.

As well as India, investors will be targeted in Singapore in a partnership with Neville Clarke (part of PERA consultancy). From Singapore, market potential will be exploited in China and Malaysia.

The recent World Investment Report by the United Nations Council for Trade and Development (Unctad) emphasises the importance of targeting investors. Parts of the UK, Netherlands and Ireland have adopted targeting strategies.

l A website has been launched by the British Foreign and Commonwealth Office to help overseas investors. The project was developed in association with British Trade International of which InvestUK is a part. The project leader, Ed Hobart, said that the portal would give an investor a “broader view” of what Britain is like and if an investor decides to relocate here provide information on schools and tourism.

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See: www.i-uk.com

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