India, UK commit to deals worth 1 billion pounds

UK Prime Minister Boris Johnson, who is on a two-day visit to India, will announce a series of commercial agreements in the country, the UK government said in a statement. Both the countries will confirm more than 1 billion pounds in new investments and export deals on Thursday in areas of software engineering to health.

The UK PM will use his visit to boost its collaboration and slash trade barriers with India, which will also drive jobs and growth in the UK. 

Among the deals are a new switch mobility electric bus R&D centre in the UK and the opening of their Asia Pacific HQs in Chennai, generating over 1,000 jobs in the UK and India, manufacturer Bharat Forge and electric truck maker Tevva Motors’ expansion to a new site in the UK that will create 500 jobs, software company Mastek investing 79 million pounds to create 1,600 jobs in UK in three years, 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 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.

PM Johnson also welcomed the UK government and Airtel-backed OneWeb’s contract 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. 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,” said the PM.

The UK will also 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 will be funded for Indian students by the Chevening programme and Adani Group. AI healthcare specialists Qure-ai will invest 6 million pounds to open a centre in the UK. 

Tech Mahindra creating 1,000 jobs in the UK, Mphasis investing 5 million pounds to set up an office in England and generate 700 high-skill jobs, Prodapt investing 100 million pounds to expand its software and tech service operations and create 500 jobs, TVS Motors investing 100 million pounds in Norton Motorcycle and create 250-300 direct jobs and 500-800 indirect jobs, medtech Startup Goqii investing 10 million pounds to expand in the UK and create 100 high quality jobs, Byju’s choosing the UK to be their first global innovation hub and creating 55 jobs with a 15 million pound investment, are some of the other deals. 

Also read: British PM Boris Johnson arrives in Gujarat; likely to announce new projects