UK celebrates 6,900 new jobs from Indian cross-sector investments

London, Oct 9 (PTI) Britain on Thursday highlighted the job creation benefits accruing from 64 Indian investment projects worth 1.3 billion pounds announced during Prime Minister Keir Starmer's visit to Mumbai, which are expected to generate 6,900 new jobs across diverse sectors.

Downing Street officials said the deals signed and sealed during Starmer's visit are a vote of confidence in the UK as a business destination and demonstrate the impact the UK-India Free Trade Agreement (FTA) is already having on investor confidence ahead of its British parliamentary ratification.  The Indian companies planning to launch and expand their products in the UK cover next-generation 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, in a statement issued from his London office.

“From electric vehicles in Solihull to cutting-edge Agri-tech in Somerset, these deals show that our Plan for Change is delivering real results. The UK-India trade deal is already unlocking growth, and today's announcements mark the beginning of a new era of collaboration between our two nations,” he said.

The UK-India trade deal, officially known as the Comprehensive Economic and Trade Agreement (CETA) and set to significantly slash tariffs on imports from the UK to India and vice versa, was agreed during Prime Minister Narendra Modi’s UK visit in July and is seen as already creating a “burst of momentum” for bilateral trade.

“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, who joined Starmer's 125-strong trade mission to India.

“Their success in India will only grow as our new trade deal galvanises economic partnership, brings our two countries even closer together, and ultimately delivers economic growth right across the UK,” he said.

Among the key Indian projects plugged by the British government include TVS Motor's 250-million-pound investment in Solihull, West Midlands, to expand its Norton Motorcycles operations and develop next-generation electric vehicles; engineering company Cyient investing 100 million pounds to boost innovation in semiconductors and clean energy; tech firm Atul-Date Palm Developments investing 11 million pounds in sustainable and innovative agri-tech; and Mastek investing 2 million pounds to open a new AI and Experience Centre in London and Leeds.

As many as 28 of the investments confirmed this week fall under the priority areas of the India-UK Technology Security Initiative (TSI), agreed between both sides last year.  Highlighting the geographical impact of Indian investments, the UK government pointed to 200 jobs created in Wales through a collective boost for the Welsh economy of 1.2 billion pounds.

While EdSupreme, an ed-tech company specialising in utilising AI in physiotherapy, will invest 10 million pounds in London and Wales, pharmaceutical company Wockhardt will invest 8 million pounds to upgrade its facility in Wrexham.

“Key industries in Wales, such as the renewable energy sector, the creative industries and food and drink producers will see the benefits and Welsh businesses will also have access to India’s huge procurement market with increased protections so they can confidently export goods and services,” said Jo Stevens, Secretary of State for Wales.

Starmer concludes his two-day visit to India on Thursday following in-depth bilateral talks with Modi during which both leaders reaffirmed the upward trajectory of 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 told reporters in Mumbai after his dialogue with Modi.

“We want to build the sectors and the skills of the future together. So, this trade deal [CETA] is a launchpad to boost British leadership in everything from tech, to life sciences, to renewable energy, and much more beyond that,” he added. PTI AK ZH ZH