ICICI Bank and UK Trade & Investment (UKTI) today signed an MOU, to help Indian firms capitalise on opportunities in the UK. The joint initiative of ICICI Bank & UKTI is aimed at providing training events and additional inward investment assistance for Indian businesses looking to enhance their ability to grow in the UK.
UK Trade & Investment is the Government organisation that helps UK based companies succeed in international markets by providing knowledge, advice and practical support. Their range of services are tailored to the needs of individual businesses to maximise their international success. UKTI also assists overseas companies to bring high quality investment to the UK.
The key benefits through this partnership are exchange of resources between ICICI Bank & UKTI for businesses looking to expand in the two countries. They will also explore on conducting educational events specifically tailored for SMEs, across India. Programs with specific industry and/or geographical region focus will also be organised to facilitate growth of the particular industry/ geographical region with advice and guidance from UKTI & ICICI Bank, on key issues relating to financing international trade.
Speaking on the occasion, Mrs. Chanda Kochhar, MD & CEO, ICICI Bank said, “This collaboration will enable the Indian businesses to grow in the UK and vice versa. ICICI Bank has been constantly working on initiatives that will help elevate the eco-system for the Indian SMEs. Through this initiative we envision further awareness to the Indian businesses by means of knowledge and counseling sessions, thereby helping them take their businesses to the next level of growth. “
Sir Andrew Cahn, Chief Executive, UKTI, said, "I am very pleased to be signing an MOU on behalf of UKTI with ICICI Bank, through which we can offer enhanced support and options to Indian companies seeking to internationalise. In the UK, we welcome investment from overseas, and India is one of our prime markets in this regard, already being the second largest investor in the UK in terms of projects in 2008-9".
About ICICI Bank:
ICICI Bank Ltd (NYSE:IBN) is India's largest private sector bank and the second largest bank in the country with consolidated total assets of about US$ 102 billion at September 30, 2009. ICICI Bank’s subsidiaries include India’s leading private sector insurance companies and among India's large securities brokerage firm, mutual fund and private equity firm. ICICI Bank’s presence currently spans 19 countries, including India.
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