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(From Western Daily Press)
With a population of more than a billion and an economy expanding by more than eight per cent a year, India offers huge potential to West firms. ROBERT BUCKLAND looks at the business opportunities in this huge and fast-growing country and talks to two West about how they are gaining a foothold While companies are falling over themselves to do business in China, a market with just as much potential but far fewer barriers to entry is being overlooked.
India shares many of the benefits of China's hypergrowth with few of the drawbacks.
Both have huge populations - China with 1.2billion people and India with just over 1billion are the world's two most populous countries.
Both are enjoying staggering levels of economic growth and undergoing massive capital investments in roads, airports and building projects.
Education is seen as vital in both if they are to become modern, forward-looking nations and both are producing large numbers of graduates.
But culturally doing business in India is far easier than in China.
The business language of India is English while the civil service and legal system are based on the British model.
Business etiquette is closer to the British way and there are often family links between UK and Indian firms.
It is hardly surprising that the Government's trade advisory body, UK Trade & Investment (UKTI) has targeted India as a huge growth market for UK firms.
India is already the UK's 17th largest export market and its second largest in the developing world after China.
In 2004, the UK exported goods and services worth GBP2.2billion …