• Monday, May 16, 2022

Business

Johnson’s visit: UK and Indian businesses confirm deals worth £1bn

Britain’s Prime Minister Boris Johnson (L) gets a traditional turban tied on his head upon his arrival at the Gujarat Biotechnology University in Gandhinagar on April 21, 2022. (Photo by BEN STANSALL/POOL/AFP via Getty Images)

By: Pramod Thomas

PRIME MINISTER Boris Johnson will announce new investments and export deals worth more than £1 billion by UK and Indian businesses on Thursday (21) as part of his ongoing India visit, according to a statement.

These agreements in areas from software engineering to health would create almost 11,000 jobs across the UK, it added.

These include, 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, Bharat Forge and electric truck maker Tevva Motors would expand to a new site in the south-east and create 500 new jobs, India’s Mastek will invest £79mn to create 1600 jobs over the next three years across the UK and FirstSource will open new offices in South Wales, the Midlands and cities in the North-East and North-West.

Besides, Hertfordshire-based firm Smith & Nephew has signed a major export deal to sell robotic surgical systems in India, and Northamptonshire business Scott Bader will open a new resins factory to supply top renewable energy companies in south-east Asia.

Johnson will also welcome UK-based satellite communications company OneWeb to sign a historic contract for satellite launches with New Space India Limited, the commercial arm of the Indian Space Research Organisation.

“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,” Johnson said.

“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.”

Britain’s Prime Minister Boris Johnson (2R) listens to a student inside the laboratory of the Gujarat Biotechnology University in Gandhinagar on April 21, 2022. (Photo by BEN STANSALL/POOL/AFP via Getty Images)

Johnson 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 are other major collaborations happening as part of the prime minister’s visit.

According to the statement, negotiating teams will hold their third round of formal talks on the landmark UK-India trade deal 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. The 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 official statement added.

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