Indian firms Tata Consultancy Services and Wockhardt are to create over 1,500 jobs in the UK.
It follows Trade Secretary Liz Truss’ 5-day visit to India, where she has been cementing trade ties in the aftermath of Britain’s withdrawal from the European Union.
The Secretary of State is today announcing that the Government has helped to secure a number of investment wins that will create jobs across the UK., including technology and digital firm Tata Consultancy Services that will bring 1,500 high-skilled jobs to sites all over the UK.
Indian pharmaceutical and biotechnology giant Wockhardt has also confirmed further investment in Wrexham, Wales, leading to more than 40 new jobs. This is couples with an existing Covid-19 vaccination contract to ensure the UK has uninterrupted fill and finish capacity for vaccines in 2022.
On Saturday, Truss agreed an outline of a new Enhanced Trade Partnership (ETP) with India’s Minister of Commerce and Industry Piyush Goyal, as part of the development of a roadmap that would lead to a potential comprehensive FTA, including considerations on an Interim Agreement on preferential basis.
Throughout the global pandemic India and the UK have supported each other by keeping vital supply chains open, tackling protectionism and collaborating on vaccine research.
UK International Trade Secretary Liz Truss said:
“India is the world’s biggest democracy and a nation that shares our belief in free enterprise. Deeper trading ties will create opportunities for UK businesses that were simply not there as part of the EU, and set the stage for a much closer partnership with one of the economic powerhouses of the present and future.
“We will be collaborating much more closely in the industries of tomorrow like science, tech and green growth, so we can build back better and deliver an export-led, investment-led, jobs-led recovery from coronavirus.”
The UK-India trade relationship, worth £23 billion in 2019, supports key industries such as technology and life sciences and around half a million jobs in each other’s economies.