Following a series of workshops held throughout the UK, which looked at doing business in Asia, UK Trade and Investment (UKTI) has announced a BP joint venture with Reliance Industries, India’s biggest private sector company with current revenues of around US$ 44 billion. The deal represents the largest-ever investment in India by a British company.

BP - Reliance Partnership Deal

Peter Beckingham, the UK Deputy High Commissioner Mumbai, commenting on the success of the workshops said, “I was left in no doubt that interest among UK business in India must be at an all-time high.” Undoubtedly UK trade officials are also buoyant about the BP-Reliance partnership agreement but they stress that India is a market where British companies should be doing more.

India is currently number 21 in the list of the UK’s top 50 trading partners (UK exports general trade) with a 4th quarter 2010 statistical value of £2,893 (millions). While these figures represent a developing business relationship, there are greater opportunities for UK companies to do business in India.

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