A new music export scheme will see the Government allocate up to £3 million worth of grants to independent music companies to help grow their overseas business.

The Music Export Growth Scheme, announced by Business Secretary Vince Cable today, was agreed at a Downing Street meeting between senior music industry figures chaired by Prime Minister David Cameron.

Representing the music industry at the No.10 meeting were Warner Music’s Christian Tattersfield, Universal’s David Joseph, Sony Music’s Nick Gatfield and Infectious boss ...