Priten Patel, a London-born British Indian and founder of Trishul Consulting with over 23 years in the property industry, leads Trishul Consulting. His expertise spans design, construction, and fit-out projects, supported by the APM Project Management Qualification and experience with a global construction firm. At Trishul Consulting, Priten advises Ultra-High Net Worth Indians and Indian brands, using his strong network and focus on sustainable growth to drive exceptional success in the property sector.
In an interview with Asian Voice, Priten spoke about the future of UK-India business relations, south asian businesses becoming an integral part of the UK economy, and much more.
How do you see the future of UK-India business relations evolving, and what role does your company play in this?
The future of UK-India business relations is promising, with both nations emphasising trade and investment partnerships leading to deeper economic integration. The UK excels in advanced technologies, financial services, and education, while India offers vast market opportunities, a robust IT sector, and a large talent pool.
Ongoing trade agreement negotiations aim to boost bilateral trade by reducing tariffs and enhancing market access. The focus on technology, renewable energy, healthcare, and infrastructure presents substantial opportunities for investment and collaboration. Joint ventures in research and development, particularly in technology and pharmaceuticals, can drive innovations benefiting both economies. Enhanced cultural and educational ties will foster mutual understanding and create a skilled workforce to meet market demands.
As for our company, we play a pivotal role in this evolving landscape by facilitating trade and investing in growth. We provide vital services that help UK and Indian businesses navigate each other's markets, including market research, regulatory guidance, and trade facilitation through partnerships. Our strategic investments in both countries underscore our commitment to fostering economic ties. By helping set up infrastructure operations, we contribute to local economies, create jobs, and build skills. In essence, our company acts as a bridge, enabling smoother and more efficient business interactions between the UK and India, and contributing to the robust growth of bilateral relations.
South Asian businesses are becoming an integral part of the UK economy. How do you see this trend evolving in the coming years?
The integration of South Asian businesses into the UK economy will continue to strengthen. The growing South Asian community provides a robust customer base and entrepreneurial spirit, supporting business growth across various sectors.
South Asian entrepreneurs, known for their business acumen and resilience, have successfully established enterprises from small businesses to large multinationals. Initially prominent in retail, hospitality, and textiles, they are now making significant strides in technology, healthcare, finance, and renewable energy, driving sustained growth and integration into the broader economy.
Strengthening UK-South Asia trade relations and increasing foreign direct investment will further bolster this trend. Initiatives enhancing trade partnerships and reducing barriers will provide more opportunities for South Asian businesses to flourish. Emphasising digital transformation and technological innovation, these businesses are poised to play a key role in the UK’s tech landscape.
The UK government’s support for diversity, inclusion, and entrepreneurship will continue to create a conducive environment for South Asian businesses. Programmes which offer funding, mentorship, and resources for minority-owned businesses will further facilitate their growth. As they integrate culturally and socially, their participation in mainstream business networks will enhance their visibility and influence, fostering more collaborations and partnerships within the UK.
What role do you think South Asian Heritage Month plays in highlighting the contributions of South Asian businesses in the UK economy?
South Asian Heritage Month is vital for showcasing and celebrating the significant contributions of South Asian businesses to the UK economy. It highlights their achievements, innovative ventures, and economic impact, providing essential recognition and visibility across various sectors.
It celebrates South Asia's rich cultural heritage, fostering deeper understanding and unity within the UK. It offers educational opportunities on the history and successes of South Asian businesses, leading to increased support and engagement from various communities. The month also provides networking and collaboration opportunities, inspiring young South Asians to pursue entrepreneurship. Additionally, it influences policy makers to address the specific needs of South Asian businesses, leading to targeted initiatives and policies for their growth and sustainability.
By drawing attention to the contributions of South Asian businesses, the month underscores their role in driving economic growth, creating jobs, and fostering innovation. This recognition underscores their importance in the UK’s economy and fosters greater community engagement and solidarity. By celebrating both cultural heritage and economic impact, the month ensures that South Asian businesses are acknowledged, valued, and supported within the UK economy.
How do you see the role of South Asian Heritage Month evolving in the future, especially in the context of business and economic growth?
In the future, South Asian Heritage Month is expected to increasingly spotlight the economic contributions of South Asian businesses. It will focus on detailed case studies, economic impact reports, and success stories that highlight how South Asian entrepreneurs drive growth, innovation, and employment in the UK.
It can become a prime time for organising business networking events, trade shows, and investment forums, fostering collaboration, knowledge exchange, and investment opportunities. Future iterations may feature more educational programs and workshops for aspiring and current entrepreneurs, covering topics such as business strategy, access to finance, digital transformation, and international trade.
Establishing awards and recognitions during the month can highlight outstanding contributions within the business community, inspire others, and provide role models for aspiring entrepreneurs. Media and public awareness campaigns can amplify the stories of South Asian businesses and their impact on the UK economy through documentaries, social media, and mainstream media partnerships.
