Indian investors confirm confidence in Wales as a business destination by investing £1.2 billion into some of Britain's most thriving businesses.
- 64 Indian companies will invest over £1 billion into the UK, creating 6,800 jobs in every region
- Deals signed and sealed during the Prime Minister's trade mission to India, where he has promised to open doors for Welsh business and drive growth at home - delivering on the Plan for Change
- Investments are another vote of confidence in the Welsh economy and cement its reputation as one of the best places in the world to do business
Nearly 200 brand new jobs will be created in Wales thanks to a raft of major new deals secured by the Prime Minister during his visit to India this week.
Indian investors have confirmed their confidence in Wales as a business destination by collectively investing £1.2 billion into some of Britain's most thriving businesses - demonstrating the impact the UK-India trade deal is already having on investor confidence.
This includes EdSupreme, an Ed-Tech company specialising utilising AI in physiotherapy which is investing £10 million in London and Wales, creating 50 jobs in Wales over three years and Indian pharmaceutical company Wockhardt investing £8 million to upgrade its facility in Wrexham, creating 35 new high-skilled jobs to expand its global operation.
In addition, medical device pioneer NeoCeltic Global Ltd is investing £5 million, creating 50 jobs in Wales to deliver next-generation solutions in mobility and rehabilitation.
Business and Trade Secretary Peter Kyle said:
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 Welsh businesses.
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 Wales.
Secretary of State for Wales Jo Stevens said:
Our landmark trade deal with India will boost jobs and economic growth across Wales.
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.
This government is proving it can deliver on our mission to grow the economy, create new jobs and put more money in working people's pockets.
In addition, advanced engineering company NMT Engineering and Services is investing almost £5 million in the UK, creating 15 skilled jobs in Wales to manufacture precision components for renewable energy, defence, and aerospace - strengthening India-UK industrial innovation.
India is already the UK's second largest investor and more than 1,000 Indian companies operate in the UK, supporting millions of UK jobs.
It comes off the back of a two-day trade mission by the Prime Minister to Mumbai, where he met with Indian business leaders and directly sealed the deals that will result in growth and jobs that will put money directly into the pockets of hardworking British people.
Key announcements include:
- Advanced manufacturing company TVS Motor will invest £250 million in Solihull to expand its Norton Motorcycles operations and develop next-generation electric vehicles, creating 300 high-quality jobs and collaborating with UK research institutions such as the University of Warwick - showcasing the best of Britain.
- Engineering company Cyient is investing £100 million to boost innovation in semiconductors, geospatial tech, mobility, clean energy, and digital domains - creating 300 UK jobs and strengthening its long-standing presence in the country.
- In Somerset, tech firm Atul-Date Palm Developments is investing £11 million in sustainable and innovative Agri-tech, establishing advanced R&D that will create 44 highly-skilled jobs and support global climate resilience.
- Mastek, a global digital engineering firm, is investing £2 million to open a new AI and Experience Centre in London and Leeds office, generating 200 skilled roles including 75 apprenticeships.
- Marvel Medi Revolutions, operating as NeoCeltic Global Ltd, is investing £5 million to deliver advanced orthopaedic and rehabilitation solutions, creating 85 jobs across London and Cardiff.
- Meanwhile, Alcor Logistics is expanding into Liverpool and London with a £3 million investment to establish UK operations as a non-vessel operator, creating 150 jobs and enhancing global freight and supply chain capabilities.
Mr. Chandan Jerry, Director, NeoCeletic Global Limited (Indian company name Marvel Medi Revolutions) said:
As an entrepreneur, I welcome the Comprehensive Economic and Trade Agreement (CETA) between the UK and India, which will deepen economic ties and unlock new opportunities for businesses.
Our innovative company, NeoCeletic Global Ltd- UK, is poised to leverage this partnership to expand globally, particularly in AI-driven medical physiotherapy solutions.
We'll collaborate with UK businesses to drive revolutionary innovations, helping position the UK at the forefront of healthcare technology. We aim to drive economic growth, create new entrepreneurial opportunities, and improve human life, setting new standards in the industry.
These investments are just a few examples that demonstrate the UK's continued attractiveness as a destination for innovation, talent, and global business growth.
Today's announcements are reflective of the UK and India's burgeoning technology partnership - with 28 of the investments confirmed today falling under the priority areas of the UK-India Technology Security Initiative. That includes 26 artificial intelligence companies, 1 semi-conductor company and 1 biotechnology company.
The Technology Security Initiative launched in July last year and aims to increase collaboration with India in key and emerging technologies such as telecoms, critical minerals, AI, biotechnology and semiconductors.
