UK firms are being urged to take advantage of India’s growing sports market by making the most of available export opportunities.
Representatives from the Department for International Trade (DIT) this week welcomed an India-UK sports delegation to London with the intention of highlighting current international trade opportunities.
The delegation’s visit comes during the ICC Cricket World Cup 2019, which is taking place at grounds in England and Wales until July 14.
The event brought together representatives of high-profile sporting companies from both countries. According to the DIT, British sporting equipment exports are at an all-time high, rising by 10 per cent to £500 million in 2018. Exports of sporting goods to India increased by 30.6 per cent in the same period.
Secretary of State for International Trade, Dr Liam Fox MP said: “The UK wants to be India’s partner in delivering world class sporting events – using our experience and expertise gained from delivering some of the biggest global sports events in the world.
“There are significant benefits of hosting large sporting events to local economies. By showcasing the success of British business at the cricket world cup, the UK stands ready and able to help our Indian sporting partners realise their own success.”
“UK stands ready and able to help our Indian sporting partners” – Dr Liam Fox MP
Representatives from Indian commercial giant Reliance Industries believe there is great potential for British companies looking to export sporting goods to India.
Sundar Raman, chief executive of Reliance Sports, said: “Reliance Sports has had strong connections with the UK since inception – particularly the partnership between the Indian Super League and the Premier League, which was renewed again earlier this year.
“I am delighted to be a part of the India-UK Sports Alliance organised by the UK’s Department for International Trade. It will help to broaden the scope of our relationships in the UK with both the wider sports sector and policymakers.”
Main image © Crown copyright 2019