Agenda item

The Committee considered the undernoted report:

“1        Relevant Background Information

1.1       Belfast City Council and Invest NI have been approached by an international event management company, Horasis, to establish if the organisations would be interested in Belfast hosting the annual Global India Business Conference in April 2013.

1.2       Global India Business is a major international networking event which brings together over 350 chief executives from major Indian companies with their European counterparts to examine the potential for trade development and investment between the two regions.

1.3       The key personnel at Horasis are former organisers of the World Economic Forum which takes place in Davos, Switzerland each year and have since set up their own business focused on developing business relationships with the emerging economies of India, China, Russia and the Middle East.

1.4       The Global India Business Forum is the foremost annual gathering of Indian business leaders and their global counterparts. The event is open to CEO’s of the world’s leading companies. Horasis has a partnership with leading Indian firms and uses this network to connect with other leading companies across the globe. The 2012 Global India event is due to take place in Antwerp, Belgium on 24-25 June. Other cities which have recently hosted the event include Munich, Madrid and Naples.

2          Key Issues

2.1       Members will be aware that India is now considered one of the emerging global market opportunities.  Belfast, through Invest NI, already has substantial links with Indian firms and continues to focus activity here with outward and inward trade missions supported at Ministerial level.  The First and Deputy First Minister are just back from a recent mission to India in the last few weeks organised through Invest NI’s permanent regional office in Mumbai and will be leading another multi-sectoral trade mission to Mumbai from 14-18 October 2012. Belfast is home to several companies of Indian origin at present, including namely HCL Technology, Polaris, Tech Mahindra, L&T Infotech, Firstsource and Andras House who collectively have accounted for investment of over £180m and created some 3,500 jobs locally.

2.2       Total trade in goods and services between the UK and India was in excess of £13billion in 2010 with exports accounting for £5.6billion of this trade. Belfast companies currently doing business in India include Delta Print & Packaging who have developed a specialist joint venture in India and Hall Black Douglas Architects who have recently been appointed to provide specialist design services in collaboration with Indian architectural practice Studio 55 for the redevelopment of a retail and leisure complex for the highly respected Mumbai property developer Oberoi Realty.

2.3       There has also been significant work undertaken to develop strategic linkages between the universities in Belfast and their counterparts in India to explore educational partnerships and help develop university links between India and Northern Ireland. As a result of these efforts, The University of Ulster has developed alliances with the University of Madras in Chennai and the Institute of Technology in Mumbai and the Queen’s University of Belfast has formed relationships with the Indian Institute of Immunology, JNU in Delhi and the University at Hyderabad.

2.4       There is a vast untapped potential to benefit much more from strengthening and deepening relationships between Belfast and India as part of international relations currently under review but also specifically for Belfast to work alongside Invest NI more closely in future in helping attract new investment to this area.

2.5       Invest NI Have indicated their willingness to co-host this major event as they recognise the opportunity to:

·         Promote Belfast as a location for both Indian and European investment

·         Promote Belfast as important business hub for Indian companies wishing to trade with Europe

·         Present export opportunities in India for Belfast based companies

2.6       By agreeing to co-host this event, Belfast would be pitching to a highly valuable network of leading private sector companies from India capable of considering new operations or joint ventures with local companies here.  Belfast would be given the opportunity to directly address the audience and to showcase the economic and competitive advantages of Belfast as well as the quality of life.

2.7       Should Members consider it appropriate it may be valuable in attending the Global India Business Meeting in Antwerp from 24-25 June 2012 to bid for Belfast 2013.

3          Resource Implications

3.1       The total cost of hosting the event is in the region of £200K.  Invest NI have agreed in principle to provide 50% of the costs leaving a balance of around £100k for Belfast City Council to resource. Council officers will seek to find alternative funding in the interim period to keep the Council’s contribution to a minimum.

3.2       The cost of attending the Global India Business Meeting in Antwerp is approximately £785 per person.

4          Equality and Good Relations Considerations

4.1       Hosting this event provides a valuable opportunity to connect with the local Indian community as well as promoting business opportunities in a significantly growing global market.

5          Recommendations

5.1       It is recommended that Members agree to support the co-hosting of the Global Indian Business Meeting in Belfast in June 2013 and agree to provide up to 100k toward the event.

5.2       It is recommended that the Chair and Deputy or their nominees attend the Global India Business Meeting for 2012 in Antwerp along with the Director, or his nominee, to bid for Belfast to host the event in 2013, costs not exceeding £2,355.”

 The Committee adopted the recommendations.