Prime Minister announces £1 billion of new UK-India trade

Photo shows: Norton motorcycle factory in Solihull
Norton Motor Cycle Factory in Solihull

More than 6,500 new jobs will be created around the UK thanks to £1 billion of new UK-India trade and investment announced by Prime Minister Boris Johnson.

The package contains more than £533 million of new Indian investment into the UK, which is expected to create more than 6,000 jobs in growing sectors such as health and technology. £200 million of these deals will support low carbon growth.

Trade between the UK and India is already worth around £23 billion a year, supporting more than half a million jobs. Last week the Prime Minister spoke to Indian business leaders from companies Infosys and HCL to discuss the growing importance of the economic relationship between the UK and India.

British businesses have also secured new export deals with India worth more than £446 million, which will drive UK growth and create more than 400 British jobs. This includes CMR Surgical exporting its next-generation ‘Versius’ surgical robotic system which helps surgeons perform minimal access surgery being rolled out to hospitals in India. This export deal is worth £200 million and will result in the creation of 100 new jobs in the UK.

Prime Minister held virtual meeting with Prime Minister Modi to agree a deeper relationship between the UK and India across trade, health, climate and defence.

This includes agreeing an Enhanced Trade Partnership. The partnership will unlock new opportunities for British businesses exporting to India and Indian businesses investing in the UK.

New Indian investment deals which include companies in our region include:

Reading based Mastek – creating 357 UK jobs. Mastek UK Ltd is a leading enterprise digital transformation provider to the UK Public Sector. Mastek UK Limited has been operating in the UK for over 28 years, implementing major programmes across the UK from Schools solutions to Local Government to major critical national infrastructure in Health and Immigration & Border protection.

TVS Motors-Norton in Solihull – creating 89 UK jobs. In January The Norton Motorcycle Co Ltd announced it is moving to a new headquarters. The production site located in Solihull will open following a multi-million pound investment by Norton’s Indian parent company, TVS Motor Company. It will be the most advanced manufacturing facility in the 122-year-old motorcycle brand’s history.

New UK export deals announced in our region include:

Harwell, Oxfordshire based Vidrona drone surveying equipment and AI technology.

Birmingham-based GoZero Mobility a British maker of performance e-bikes and signature lifestyle merchandise in a deal worth £3.2m for e-bicycles.

Leamington Spa-based Kwalee, a British video game producer expansion in India creating 25 new UK jobs. The company is opening its first location outside the UK in Bangalore.

Oxford-based Oxvent in a deal worth £20 million. Oxvent is working to build ventilator infrastructure in India and other low and middle income countries.