Publication Name: business-standard.com
Date: 18 January 2016
The UK government's trade and investment body is organising two high-level creative industry events in India this week to attract Indian companies to work with Britain's creative and digital media industries.
UK Trade and Investment (UKTI) will bring together specialists and advisers from the creative and digital media sectors to seminars in Mumbai tomorrow and Bengaluru on Thursday.
The seminars will also include a mix of key Indian voices from the sector such as Technicolour, Tata Elxsi and Adobe.
"Digital technology is rapidly changing media production, distribution and audience engagement in both India and the UK, and now is the time to use the strengths of each country in addressing these future trends.
The UK has world renowned creative talent, and the combination of these skills with innovative new technology platforms allows an opportunity to generate international partnerships to access a global marketplace," said Mark Leaver, UKTI Creative Industries Adviser.
The events will showcase the innovation ecosystem in the UK, highlighting how the combination of world-class creative industries and emerging digital technologies can drive an internationally significant growth of new content, platforms and business models.
Production processes within the creative industries are now often internationally distributed and the seminars will explore how increased UK-India collaboration in this sector could have high potential, a UKTI statement said.
The two events will focus on the impact of digital; the next generation of tools which underpin global production and distribution; and the opportunities within the UK marketplace for Indian companies arising from the digital evolution of the creative industries.
In both Mumbai and Bengaluru, participants will map the current landscape of UK-India partnership in this sector and investigate how Indian and UK companies can collaborate to take advantage of the rapid adoption of digital technologies.
The participation of Indian companies from the sector will allow a deeper understanding of their requirements and they will share case studies, experiences and insights alongside the UK experts.
Tata Elxsi vice-president Anil Sondur said: "There is a strong existing relationship between the UK and India in the creative sector. The combination of commercial expertise, creative excellence and technological innovation across the two countries generates a significant value add for companies such as ourselves who operate in both markets.
"We welcome UKTI's focus on commercial collaborations between UK and India in the creative economy and share their view of significant tangible opportunities in exploring future creative and tech trends as a partnership."
The speakers will share their thoughts on the role innovation plays at the leading edge of creative business development and foresight future trends in technology adoption - highlighting where the next generation of UK-India connections might find new opportunity.
According to UKTI, the UK is a uniquely favourable place for Indian companies with a world class creative sector worth over 70 billion pounds per annum to the UK economy.
The UK provides a business friendly atmosphere with the lowest corporation tax rate among G20 countries and available funding opportunities for both creative production and R&D, making it an attractive destination for Indian creative and digital industries, it said.
In recent years major Indian creative businesses such as Prime Focus, Vistaar and Tata Elxsi have established successful commercial presence in the UK.