MUMBAI: India is currently the world’s 19th biggest music market with music sales totalling $113 million in 2013, and one that is quickly catching the attention of the world’s biggest music festivals and artists.

Putting the spotlight on the Indian music industry’s potential is The Exchange, a day-long conference organised by UK Trade & Investment (UKTI) in association with Submerge. The Exchange, to be held in Mumbai on 7 November , is an endeavour to get British and Indian talent, trade bodies and industry people in the music industry together to understand the region and discuss potential business opportunities. Alongside the conference will be a multi-city music showcase by Dirty Vegas, the Grammy-award winning British house trio and trance music legend John Fleming across 7-9 November .

The music scene in India has received tremendous support from various bodies in the United Kingdom in the past few years through programs, collaborations and artist residencies. The Exchange is an effort to build on the existing relationship and further strengthen it.

The Exchange is part of a week-long trade mission that has been put together by UKTI, in partnership with AIM (The Association of Independent Music) and British labels trade body BPI (British Phonographic Industry). The trade mission – from November 1 to November 8 – will see representatives of the UK music industry host a program of educational seminars, networking events, conferences and artists showcases in a concerted bid to tap into the fast-growing Indian music market and grow British presence in the territory.

This is the first time since 2006 that delegates from the UK music industry have held a trade mission to India and it reflects India’s growing importance as a music market.

The Exchange will see representation from key names from the music industry, regulatory heads, music label honchos, management agencies, international speakers and Indian and international artists across all genres of music. There will also be a three city showcase tour headlined by Dirty Vegas of the “Days go by” fame and trance music DJ John Fleming, which will also give the visiting UK delegates an insight into the live music space in India.

Speaking about The Exchange and music showcase, the British Deputy High Commissioner, Western India, Kumar Iyer, said: “It’s great to announce this mission and broaden our engagement into new and creative sectors in India. The UK and India make and produce some of the best music in the world - creating a platform for collaboration and promoting the best that both countries can offer is exactly what this conference is about. Finishing with a concert means that it will not be boring, in the words of Freddie Mercury, 'we will rock you!'

Hermit Sethi, director at Submerge said, “I'm extremely happy to finally put together a forum where the music industry can speak openly. It's something all of us at Submerge have been working towards for years now. We've found great partners in UK Trade & Investment, who, like us, believe this is the service of music. The business opportunities it can generate between India and the UK are immense and more importantly, will be for the greater good of the thriving Indian music industry”.