Arbinder Chatwal has over 15 years of experience advising a diverse range of organisations, from hi-tech startups and spin-outs to large multinational companies reporting under IFRS and US GAAP.
With a background in auditing and as a Financial Controller in industry, Arbinder is actively involved with BDO International as a partner and sits on the firm's UK governance board, leading the India Advisory Services team. He has guided numerous businesses on their international expansion strategies and has served as an advisor on several Trade Missions, including the 2015 London Mayoral mission to Boston and New York. He has provided counsel to Audit Committees of both public and private entities, including international groups. His notable clients include Genpact (Delhi), Ashok Leyland (Chennai), and Hero Future Energies (Delhi).
For the newsweekly’s Independence Day feature, Arbinder discusses the impact of Indian businesses in the UK, policies in place to help them and shares his advice for startups.
What impact do Indian businesses have on the UK economy, and what do you think is the most promising sector for them to invest in?
The impact of Indian businesses on the UK economy is significant and growing and one key aspect is the collaboration in research and development between the two nations. The UK is home to some of the world’s leading research facilities and educational institutions, and many university spinouts are partnering with Indian companies. This collaboration often involves developing technology in the UK and then moving to manufacturing in India, creating a robust pipeline from R&D to production.
The technology sector, in particular, presents substantial opportunities. Whether it's media tech, health tech, or other areas, the integration of UK and Indian expertise in technology is highly promising. Over the past 20 years, India’s role has evolved from being a lower-cost manufacturing hub to a more advanced player in the global supply chain. For instance, in the aerospace and defence sectors, India is now involved in more sophisticated roles than just subassembly.
As businesses and international relations evolve rapidly, what advice would you give to Indian startups and businesses trying to make their mark?
For Indian businesses entering the UK, it’s essential to be clear about their unique selling proposition (USP). The UK market is saturated, challenging, and expensive, so thorough research is vital before making the move. Despite significant challenges like compliance issues and high costs, succeeding in India's vast and diverse market can prepare you for success elsewhere. If you identify a niche for your product or technology, assess it carefully. Once committed, seek partnerships and financial support. Resources like the Indian High Commission and accelerator programs such as FICCI's Tech Exchange can be invaluable. Additionally, initiatives like Santander's Navigator Program and the UK’s R&D tax credits offer significant advantages. However, thorough research is crucial, and having an exit plan before entering the market is essential to manage regulatory and taxation issues when repatriating funds.
As India celebrates its Independence Day, what message do you have for the country and, specifically, for Indian businesses?
We are a very young nation, still experiencing our growing pains, but we have much to be proud of. To illustrate, consider the recent Cricket World Cup. The euphoria of our victory contrasts sharply with the despair of losing the final against Australia on home soil just a few months earlier. Within months, we turned that around with a victory against South Africa. This reflects our passion and resilience. As a young nation, we should embrace our enthusiasm and not lose our sense of wonder. Our diversity—from the North to the South of India—is a tremendous strength, and nothing epitomises this better than sport. While challenges persist our unity and diversity should be celebrated as our greatest assets. So, let’s continue to focus on our strengths, celebrate our diversity, and harness that unity as we move forward.
