Pm Announces £1bn New Commercial Deals On Landmark India Visit
21st April 2022
Prime Minister Boris Johnson will announce a raft of commercial agreements and hail a new era in the UK and India's trade, investment and technology partnership.
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 Boris Johnson 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 Boris Johnson 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.
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..
