SME tech firms should look to Indian market for growth, says head of DIT North West

SME tech firms should look to Indian market for growth, says head of DIT North West
Technology businesses in the North West are being urged to look closely at exporting opportunities available in the Indian market.

Paul Stowers, North West head for the Department for International Trade, believes companies in the region should be looking to take advantage of overseas demand for UK goods and services.

Writing in the Manchester Evening News, he pointed to the 25 per cent rise between 2015 and 2016 in Indian imports of telecommunications, computer and information services.

Mr Stowers called on firms to “see further than the UK market, make a spark in the Indian market, and help cement the region’s reputation as a global tech hub”.

£12 billon invested over six months – KPMG

Figures released by KPMG this week show more than £12 billon was invested in the UK’s financial technology (fintech) sector during the first half of the year – more than any other country around the world.

Britain saw four of Europe’s top 10 fintech deals over the past six months: a $250 million raise by Revolut, a $100 million raise by eToro, a $60 million raise by Flender and a $54 million raise by MoneyFarm.

KPMG’s report said venture capital investors “remained relatively bullish” about fintech opportunities in Europe, despite concerns about a potential hard Brexit next March.

Main image: © Crown copyright / Open Government Licence v3.0

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