BANGALORE, India (AFP) - British bio-pharmaceutical firm Randox Laboratories is to open its first overseas centre in India`s technology hub of Bangalore, British High Commissioner Michael Arthur said.
"More than 70 companies from the UK have established bases here," Arthur told delegates at the opening of India`s annual information technology showcase IT.com.
"Randox Laboratories, a bio-pharma firm, is about to start its first ever overseas operations here," he said.
Randox employs 550 people and is one of the world`s fastest growing clinical diagnostic companies.
Arthur said bilateral trade between India and Britain was slated to touch the 10 billion dollar mark this year.
"The United Kingdom is the second biggest investor in India. Of the more than 100 Indian companies who are operating in the UK, two-thirds are in the information technology sector," he said.
The seventh edition of IT.com has attracted 290 foreign and domestic companies with Britain, China, Germany, and Russia among 15 countries represented at the five-day event.
More than 2,000 Indian and foreign delegates will attend the event.
Karnataka state capital Bangalore s home to more than 1,400 technology companies.
11/01/2004 - 10:57 GMT - AFP