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More than 6,500 new jobs will be created around the UK thanks to 拢1bn of new UK-India trade and investment announced by the Prime Minister today (Tuesday 4 May 2021).

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

This includes a 拢240 million investment by the Serum Institute of India in the UK into their vaccine business and a new sales office which will create a large number of jobs. The sales office is expected to generate new business worth over $1 billion, 拢200 million of which will be invested into the UK. Serum鈥檚 investment will support clinical trials, research & development and possibly manufacturing of vaccines. This will help the UK and the world to defeat the coronavirus pandemic and other deadly diseases. Serum have already started phase one trials in the UK of a one-dose nasal vaccine for coronavirus, in partnership with Codagenix INC.

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

This afternoon the Prime Minister will hold a 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.

Trade between the UK and India is already worth around 拢23bn 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.

The UK-India business community has demonstrated its strength over the last week in response to India鈥檚 coronavirus surge. The British Asian Trust has raised over 拢1.6 million in the last week through their emergency appeal and UK business leaders have mobilised in response to the Indian High Commission鈥檚 request for vital equipment.

The Partnership agreed today will set the ambition to double the value of UK-India trade again by 2030 and declares our shared intent to begin work towards a comprehensive Free Trade Agreement. With almost 1.4 billion people, India鈥檚 population is bigger than the EU and US combined and by far the largest market the UK has committed to negotiating a trade deal with to date.

Prime Minister Boris Johnson said:

Like every aspect of the UK-India relationship, the economic links between our countries make our people stronger and safer. Each and every one of the more than 6,500 jobs we have announced today will help families and communities build back from coronavirus and boost the British and Indian economies.

In the decade ahead, with the help of the new Partnership signed today and a comprehensive Free Trade Agreement, we will double the value of our trading partnership with India and take the relationship between our two countries to new highs.

The Enhanced Trade Partnership agreed today creates immediate opportunities for British businesses in India across industries including food and drink, life sciences and the service sector. Non-tariff barriers on fruit and medical devices will be lowered 鈥� allowing British businesses to export more of their products to India and boosting UK growth and jobs.

It also commits both sides to addressing immediate market access barriers as well as continuing to seek further opportunities as we negotiate an FTA, benefitting businesses and consumers in both countries.

A future UK-India trade deal will support hundreds of thousands of jobs and boost the economies of both the UK and India by potentially lowering or removing current tariffs such as those of up to 150% on whisky and up to 125% on automotives as well as on other British products. It would also create huge benefits for British services 鈥� 4 out of 5 of India鈥檚 fastest-growing imports are for services like IP and telecommunications.

Further information

New Indian investment deals announced today are:

• Infosys 鈥� creating 1000 UK jobs
• HCL Technologies 鈥� creating 1000 UK jobs
• MPhasis 鈥� 拢35m, creating 1000 UK jobs
• Q-Rich Creations 鈥� 拢54m, creating 667 UK jobs
• Wipro 鈥� 拢16m, creating 500 UK jobs
• I2 Agro 鈥� 拢30m, creating 465 UK jobs
• Mastek 鈥� creating 357 UK jobs
• Sterlite Technologies 鈥� 拢15m, creating 150 UK jobs
• Global Gene Corp 鈥� 拢59m, creating 110 UK jobs
• SNVA Ventures 鈥� 拢10m, creating 200 UK jobs
• Serum Institute 鈥� 拢240m
• Skillmine 鈥� 拢11m, creating 100 UK jobs
• CtrlS Data Centers 鈥� 拢10m, creating 100 UK jobs
• Que Processing Services 鈥� 拢10m, creating 100 UK jobs
• Cron Systems 鈥� 拢20m, creating 100 UK jobs
• TVS Motors-Norton 鈥� creating 89 UK jobs
• Prime Focus Technologies 鈥� creating 70 UK jobs
• Route Mobile 鈥� 拢20m, creating 50 UK jobs
• Goila Butter Chicken 鈥� 拢3m, creating 40 UK jobs

New UK export deals announced today are:

• Morningside Pharmaceuticals researching, developing and licencing new pharma products
• Polymateria鈥檚 biotransformation technology, which enables plastics to become fully bio-degradable, in a deal worth 拢75m in UK exports over the next five years
• CMR surgical 鈥� deal worth 拢200m creating 100 new UK jobs
• Kloudpad 鈥� critical hardware and software bespoke data centres, deal worth 拢15m
• Vidrona drone surveying equipment and AI technology
• KIGG systems 鈥� smart meter test benches for electricity distribution companies
• CyanConnode 鈥� deal worth 拢18m creating 30 new UK jobs
• GoZero Mobility 鈥� deal worth 拢3.2m for e-bicycles
• Agvesto 鈥� deal worth 拢3m
• Revolut expansion into India, creating 60 UK jobs
• CDE Asia 鈥� deal worth 拢500,000
• Bio Products Laboratory 鈥� biopharmaceutical finished products for rare bleeding disorders, deal worth 拢62m
• Kwalee British video game producer expansion in India creating 25 new UK jobs
• Shorts TV digital entertainment platform 鈥� forecasting exports worth 拢8m
• Clancy Global 鈥� a One Evolve Ecosystem 鈥� deal worth 拢2.5m
• Astropol 鈥� colour and additive solutions for the vinyl, non-vinyl and associated additive industries, deal worth 拢12m
• Surgease 鈥� deal worth 拢14.9m, creating 100 new UK jobs
• Oxvent 鈥� deal worth 拢20m
• Eagle Genomics 鈥� deal worth 拢12m, creating 165 UK jobs
• BP 鈥� partnership with Infosys to decarbonise Infosys鈥� 11 campuses across India

Trade barriers addressed by the Enhanced Trade Partnership include:

• Lifting restrictions to enable fruit producers across the UK to export British apples, pears and quince to India for the first time
• Secured improved access for medical devices through the acceptance of UK Certificates of Free Sale in India, removing the requirement for additional accreditation of UK medical devices when exporting to the Indian market before they can be sold.
• Commitment to deepening co-operation in educational services and concluding work on the recognition of UK higher education qualifications, which will encourage an increase in student flows, skills transfer and knowledge sharing between the UK and India.
• Commitment to work to remove barriers in the Indian legal services sector preventing UK lawyers from practising international and foreign law in India, a step that could significantly increase UK legal services exports and UK legal services imports from India.

This figure of over 6,500 additional UK jobs and 拢1bn of new trade is based on company commitments and estimates from UK-India exports and investments following extensive engagement from DIT Officials.