UK Celebrates Creation of 6,900 New Jobs from £1.3 Billion Indian Investments

Britain has spotlighted the job creation potential from 64 Indian investment projects worth £1.3 billion, announced during Prime Minister Keir Starmer's visit to Mumbai. These projects are expected to create 6,900 new jobs across various sectors. Downing Street officials noted that the agreements reached during Starmer's visit reflect confidence in the UK as a business hub and highlight the impact of the UK-India Free Trade Agreement (FTA) on investor confidence.

The Indian companies planning to expand in the UK are involved in sectors such as electric motorbikes, semiconductors, agricultural innovation, artificial intelligence, and education technology. "These investments are a powerful endorsement of the UK’s global standing and economic potential. Nearly 7,000 new jobs spread across every region of our country will mean more opportunities, more innovation, and make working people better off," said Starmer.

UK-India Trade Agreement Impact

The UK-India trade deal, known as the Comprehensive Economic and Trade Agreement (CETA), aims to significantly reduce tariffs on imports between the two nations. This agreement was reached during Prime Minister Narendra Modi’s UK visit in July and is already seen as boosting bilateral trade momentum. "India is now the fourth-biggest economy in the world, and by investing billions of pounds to back thousands of jobs from sectors as diverse as AI, education, and financial services shows the scale of opportunity this presents for British businesses," said Business and Trade Secretary Peter Kyle.

Among the notable Indian investments highlighted by the British government is TVS Motors' £250 million investment in Solihull to expand Norton Motorcycles operations and develop electric vehicles. Engineering company Cyient plans to invest £100 million to enhance semiconductor and clean energy innovation. Atul-Date Palm Developments will invest £11 million in sustainable agri-tech, while Mastek will open a new AI and Experience Centre in London and Leeds with a £2 million investment.

Geographical Impact of Investments

The UK government emphasised the geographical benefits of Indian investments, such as 200 jobs created in Wales through a collective boost of £1.2 billion for the Welsh economy. EdSupreme, an ed-tech company using AI in physiotherapy, will invest £10 million in London and Wales. Pharmaceutical company Wockhardt plans an £8 million upgrade to its Wrexham facility. "Key industries in Wales, such as renewable energy, creative industries, and food and drink producers will see benefits," said Jo Stevens, Secretary of State for Wales.

Starmer concluded his two-day visit to India after bilateral talks with Modi, where both leaders reaffirmed their commitment to strengthening the India-UK Comprehensive Strategic Partnership. "The fact is, this relationship matters more than ever, across the economy, security, energy, climate and more. Our history together is deep, the human connections between our people are truly special. So, this week we have built on all that," Starmer stated.

Starmer also highlighted that the trade deal serves as a launchpad for enhancing British leadership in sectors like technology, life sciences, renewable energy, and beyond. "We want to build the sectors and the skills of the future together," he added.

With inputs from PTI