United Kingdom – Announcement of a program to strengthen commercial ties with India
Ahead of the Birmingham 2022 Commonwealth Games, UK, a program of events aimed at boosting trade and investment between India, the West Midlands and the UK has been announced. The virtual programme, which will take place during the Birmingham 2022 Queen’s Baton Relay in India (January 12-15), will bring together political leaders, Indian investors, business leaders from the West Midlands, the UK and the India, as well as international cultural icons, all to mark the Commonwealth Games as a unique opportunity to advance shared economic ambitions.
As part of the programme, a virtual showcase will take place, where key names from India’s business, tourism and cultural landscape can hear from UK government stakeholders including Alex Ellis, UK High Commissioner to the Republic of India and Andy Street, Mayor of the West Midlands. The talks will build on the strengthened trade partnership between the UK and India, opening up new opportunities for British companies exporting to India and Indian companies investing in the UK.
The UK Government’s Department for International Trade (DIT), in partnership with the Commonwealth Enterprise and Investment Council (CWEIC), will host a high-level online roundtable bringing together UK and Indian business leaders. The event provides a forum to organize a cross-market dialogue on the main business opportunity in the future mobility sector – a major focus of the local West Midlands industrial strategy and represents an opportunity to increase two-way trade and investment in the existing West Midlands -India Corridor.
The Queen’s Baton travels to all 72 nations and territories of the Commonwealth for 294 days, connecting communities, businesses and embracing cultures around the world. During the four-day visit, the Indian Olympic Association (IOA), which is also the Commonwealth Games Association for India, will organize events featuring inspirational people who are fighting for change in their community. .
The activity marking the Queen’s Baton Relay’s arrival in India is just one of a series of engagements between the West Midlands and India through 2023 and beyond. Indian businesses and investors will be invited to the West Midlands during the Games, followed by a mayoral-led delegation to India in autumn 2022 to promote bilateral trade and investment opportunities. Key strategic focus areas will include Tech & Creative, Professional Services, Future Mobility and Data Driven Healthcare.
The West Midlands and India already enjoy strong trade links, with 57% of Indian investment in the UK in 2020 being in the West Midlands. The region is home to 76 registered Indian FDIs worth over £3.5 billion in the future mobility, creative technologies and modern business services sectors, employing over 13,000 people. The region’s strong business offering has already attracted some of India’s biggest companies, including Tata Motors, State Bank of India, Infosys, OLA, Enzen Global, Suprajit Group, Elder Pharmaceuticals and more recently BSA and Microland.
Dave Owen, Executive Director – Global Purchasing and Supply Chain at Jaguar Land Rover, said: “We are extremely proud to be both a member of the Tata family and a renowned global organization in our own right, with our roots proudly in the West Midlands. . The region is the hub of our international footprint in technology, engineering, R&D and manufacturing, thanks to its enviable pool of specialist talent, excellent connectivity and transport links and high performing industrial ecosystem. »
“The wider economic and social benefits of nurturing strong relations with India are compelling. Trade and investment create growth, jobs and regional prosperity, while close ties forged with business India allows greater UK access to some of the world’s leading technology, communications and software players – who in turn benefit from the deep industry expertise and capacity for innovation, for which the West Midlands are well known.”
Andy Street, Mayor of the West Midlands, said: “The West Midlands is the UK’s main location for attracting FDI outside of London, a number of India’s biggest names in automotive, manufacturing and financial services that have chosen to locate their UK operations here. The Birmingham 2022 Commonwealth Games offer a real opportunity for the UK and India to build on these strong economic ties, as well as celebrate the region’s vast Indian heritage, with a ‘living bridge’ up close of 200,000 ethnic Indians who live and work in the West. Midlands. I look forward to addressing the Indian business community during the virtual events programme, celebrating the arrival of the Queen’s Baton Relay to India and showcasing all that the West Midlands has to support businesses and investors. looking to expand their international footprint. »
Alan Gemmell, Her Majesty’s Trade Commissioner for South Asia, said: “I am delighted that during the week the Secretary of State for International Trade is in Delhi to launch the global negotiations of the Free Trade Agreement (FTA), the West Midlands continues to deepen its relationship with India. UK trade with India in 2020 reached £18billion, with the West Midlands exporting goods and services worth £318million. Through our FTA and support for businesses across the UK, we aim to double trade with India by 2030. 2022 will be a pivotal year for UK-India relations. This summer’s Commonwealth Games will serve as an excellent backdrop and facilitate stimulating opportunities to celebrate the relationship between the West Midlands and India.”
The online events were organized as part of the Birmingham 2022 Commonwealth Games Business and Tourism Program (BATP), designed to attract visitors, trade, events and investment to Birmingham in the West Midlands and to the UK from Commonwealth nations and territories, including India.
With an economy worth £105 billion, the West Midlands region comprises three thriving cities – Birmingham, Coventry and Wolverhampton, with Birmingham home to more international businesses than any other major English city outside of London. In 2019, the West Midlands generated an export value of £32 billion – the largest region by value outside London and the South East.
Harjinder Kang, Cross-cutting Director, Intellectual Property, Indian Sourcing and Negotiations, Department of International Trade, said: “As the Queen’s Baton Relay arrives in India, the Department of International Trade is delighted to represent the ambition and richness of the innovation within the West Midlands to the Indian business community, in our most dynamic and successful sectors. The Birmingham 2022 Commonwealth Games and business and tourism program is a historic occasion and aims to create £7m in additional export deals and secure up to £900m in new investment foreigners in the West Midlands and the UK, with our international partners by 2027.”
Indian investors in the West Midlands – case studies:
Tata Motors – India’s largest automobile company and owner of JLR
Tata Motors, India’s largest automaker, acquired British company Jaguar Land Rover in 2008. Based in Coventry, UK, Jaguar Land Rover has firmly established the West Midlands as the engine of its operations, thanks to a network of production units and research facilities.
Jaguar Land Rover recently announced its new global strategy, reinvent, a sustainability-rich reimagining of modern luxury, unique customer experiences and positive societal impact. This marks the start of the company’s journey to become a net-zero carbon company by 2039. Jaguar will be redesigned as an all-electric luxury brand from 2025 and Land Rover will welcome six all-electric variants over the next five next few years, while continuing to be the world leader in luxury SUVs. All Jaguar and Land Rover nameplates will be available in pure electric form by the end of the decade.
TVS Motors – acquired iconic British motorcycle brand Norton
In January 2021, Indian manufacturer TVS Motors announced a multi-million dollar investment to relocate the UK headquarters of subsidiary Norton Motorcycles to a new state-of-the-art facility in Solihull in the West Midlands. The investment follows the prior acquisition of the iconic British motorcycle brand by TVS Motors in April 2020. The premises will be the most advanced and modern factory for Norton in its 122 year history and the brand operations center. Providing a permanent base for all staff, the new headquarters will house the design, engineering, purchasing, sales, marketing and support teams as well as the skilled production team taking over the manufacture of motorcycles. The company’s decision was inspired by the region’s internationally renowned automotive hub of expertise, which is responsible for a third of all production in the UK.
Infosys BPM – a global business process management subsidiary of Infosys Ltd.
Infosys offers integrated end-to-end outsourcing and transformational benefits to customers through cost reduction, productivity improvement and process re-engineering.
Based in India, Infosys BPM operates globally and recently set up a UK based delivery center in the heart of the West Midlands. The Rubery-based office employs approximately 150 UK staff and 45 Pune-based staff and has been instrumental in establishing a central footprint for Infosys BPM in the UK.
Focused on innovation and transformation, the Birmingham Delivery Center is committed to developing and contributing significantly to shared services networks across the UK by establishing strong links with several shared service forums and organisations.
Disclaimer: This content is distributed by Business Wire India. No HT journalists are involved in the creation of this content.
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