- PM welcomes more than 11,000 new jobs created through huge
new UK-India trade and investment deals as he begins two-day
visit
- PM will visit a new factory, university and cultural sites in
Gujarat and announce new collaboration in AI and technology
- On Friday, he will travel to New Delhi for talks with Prime
Minister Modi on economic, security and defence collaboration
Prime Minister will announce a raft of
commercial agreements and hail a new era in the UK and India’s
trade, investment and technology partnership, as he arrives in
Gujarat today [Thursday] for the start of a two-day visit to
India.
The Prime Minister will use his visit to India to boost our
collaboration with one of the world’s fastest growing economies,
slashing trade barriers for UK businesses and driving jobs and
growth at home.
UK and Indian businesses will confirm more than £1 billion in new
investments and export deals today in areas from software
engineering to health, creating almost 11,000 jobs across the UK.
That includes:
- A new Switch Mobility electric bus R&D centre in the UK
and the opening of their Asia Pacific Headquarters in Chennai,
generating over 1000 jobs in the UK in India;
- Investment from leading Indian manufacturer Bharat Forge and
electric truck maker Tevva Motors to expand to a new site in the
south-east and create 500 new jobs;
- Indian software company Mastek investing £79mn to create 1600
jobs over the next three years all over the UK;
- Business consultancy FirstSource opening new offices in South
Wales, the Midlands and cities in the North-East and North-West.
- Hertfordshire-based firm Smith & Nephew agreeing a major
export deal to sell robotic surgical systems in India, and
Northamptonshire business Scott Bader opening a new resins
factory to supply top renewable energy companies in south-east
Asia.
The Prime Minister will also welcome OneWeb signing a historic
contract for satellite launches with New Space India Limited, the
commercial arm of the Indian Space Research Organisation. OneWeb
is an innovative UK-based satellite communications company, which
the Government has invested in put the UK at the forefront of
rapidly evolving space technologies. This agreement with India is
a significant development for the company’s operations.
Prime Minister said:
As I arrive in India today, I see vast possibilities for what our
two great nations can achieve together. From next-generation 5G
telecoms and AI to new partnerships in health research and
renewable energy – the UK and India are leading the world.
Our powerhouse partnership is delivering jobs, growth and
opportunities for our people, and it will only go from
strength-to-strength in the coming years.
The Prime Minister will visit a new factory being opened by a top
British firm in Gujarat, as well as a biotechnology university
working in collaboration with the University of Edinburgh.
The UK will confirm major new science and tech collaboration,
including a Digital Health partnership and a joint investment
fund for Indian deep-tech and AI start-ups, supported by the UK
and Indian governments; new AI scholarships for Indian students
jointly funded by the UK Government’s Chevening programme and
India’s Adani Group; and a £6m investment from AI healthcare
specialists Qure-ai to open a Centre of Excellence in the UK.
As he moves on to New Delhi on Friday, the Prime Minister will
also use this week’s visit to drive progress in negotiations on
the landmark UK-India free trade agreement, which is expected to
help double our trade and investment by 2030. Negotiating teams
will hold their third round of formal talks in India next week.
Work is already progressing on cutting red tape for businesses
following the UK-India Enhanced Trade Partnership launched by
both Prime Ministers last year, and today our governments will
announce new measures to make it easier to export UK-made medical
devices to India. This will support UK jobs and create
opportunities for British med-tech companies like Redcar-based
Micropore Technologies to sell their lifesaving products in
India, an import market worth £2.4bn.
Further information:
New Indian investment deals announced today are:
- Switch Mobility: Firm will establish an R&D Centre in the
UK this summer, part of the companies £300m investment and plans
to employ over 1000 highly skilled jobs across UK and India.
- Mastek: Investment of around £79m to expand their UK
operations, creating 1600 UK jobs
- Firstsource: Investment to set up ‘hub and spoke’ offices
across the UK, creating 1000 UK jobs
- Tech Mahindra: Plans to bolster AI growth, with the aim to
create 1,000 jobs in the UK
- Mphasis: £5m investment to set up a new office in the north
of England, generating around 700 high skill jobs
- Prodapt: £100m investment expand software and technology
service operations in the UK, creating around 500 jobs.
- Bharat Forge – Tevva Motors: £50m to expand into a new site
in the UK for electric truck manufacturing, creating 500 UK jobs
- Jupiter LifeLine Hospitals Ltd: Setting up a state of the art
Neuro Rehabilitation Centre for patients in the UK, creating 500
jobs with an investment of around £50m.
- TVS Motors: Investing around £100 in iconic British brand
Norton Motorcycle. This is expected to create 250-300 direct jobs
over the next 3 years and another 500-800 indirect jobs across
the supply chain.
- Brinton Pharmaceuticals: Setting up a global research and
development hub in the UK with an investment of £30m, creating
around 300 jobs.
- LTI - £1mn, creating 300 UK jobs
- TVS Supply Chain Solutions: Expanding in the UK with an
additional £4m investment, creating 280 jobs
- Leverage Edu: Indian Edtech startup Leverage Edu investing
£15m over the next three years to build its UK presence, creating
150 UK jobs
- Goqii: MedTech Startup Goqii investing £10m to expanding in
the UK, creating 100 high quality jobs
- Property Share: First property-tech company from India
entering the UK market, £10m creating 60 jobs
- Xelpmoc: Indian tech company will inveast £3.5 for a
technology and innovation excellence centre in the UK, creating
60 jobs.
- HyperXchange: HX, one of India’s leading Refurbished
electronics brand, is investing £3m to create a new entity in
England and Scotland, creating 60 jobs.
- Lepton Software: Expanding existing operations in Manchester.
£3m, creating 56 jobs.
- Byjus’s: Fintech firm has chosen the UK to be their first
global innovation hub, creating 55 jobs with a £15m investment
- Gayam Motor Works: £10m investment to establish an e-vehicle
assembly unit in the UK, creating 55 jobs.
- Searce: Technology firm will invest £10 to invest in the UK,
creating 50 jobs.
- Manras Technologies: Software start-up will invest 8.5m to
expand operations in the UK, creating 50 jobs.
- Forest Essentials: Indian luxury beauty brand investing £5m
for a new UK office, creating 40 jobs
- Tata Chemicals: £20m investment to expand UK operations,
creating 30 jobs
- Apollo Tyres: £5m investment to open a Digital Innovation Hub
in the UK, creating 25 jobs
- Start-up Voyager: £2.2 investment to boost UK operations,
creating 25 jobs
- Microlabs: Indian Pharmaceuticals company investing £10m to
expand in the UK
- Qure AI Technologies - £6mn, creating 15 UK jobs
New UK export deals announced today are:
- OptiBiotix Health plc signing an exclusive sales agreement
with India’s Apollo Hospitals Group
- Health education firms AT&F Solution and OrthOracle UK
secure £9.82mn deal to deliver medical training.
- RELX sign a five-year commercial deal to delivery primary
health care in 70+ medical centres.
- Scott Bader will invest £23mn to establish a resins
manufacturing facility in India, creating 150 jobs in India.
- Medical technology firm Smith and Nephew have signed multiple
deals for their robotic surgical system to be used in India.
- Ujala Cygnus secure a £6.9mn deal to train Indian doctors in
acute medicine, creating 20 jobs in the UK.
- Cyanconnode announce a £5mn deal to support Smart Meters in
India, creating 10 UK jobs.
- UK tech firm What3Words will partner with multiple Indian
auto firms to provide accurate satellite navigation.
- Contactless Payments pioneers McLEAR will launch the first
Smart Ring in India in a £10mn deal.
- Wireless infrastructure manufacturer Radio Design will
establish a new manufacturing centre in India.
- Carbon Masters agree a joint venture to implement a waste
management project in Bengaluru that will reduce carbon
emissions.
- Joint UK-Indian venture Pandrol Rahee will set up a state of
the art manufacturing centre in West Bengal.
- Deliveroo will set up its largest technology hub outside of
the UK in Hyderabad, India.
- Arup secure a £1mn deal to accelerate India’s railway station
redevelopment programme.
- UK FinTech firm Revolut announce its further expansion into
India, creating hundreds more jobs..
