UK Ministers Secure 17 New Deals to Boost UK-India Trade Collaboration

06 Mar, 2025

UK ministers have announced 17 new export and investment deals aimed at strengthening economic ties between the UK and India. This announcement was made during the visit of Trade Secretary Jonathan Reynolds and Investment Minister Poppy Gustafsson to India, highlighting the growing collaboration between the two nations. These agreements span multiple sectors, including technology, life sciences, and professional services, supporting economic growth and job creation in both countries.

India’s recent Union budget has also created new opportunities for British insurance companies, allowing them to expand their presence in the Indian market. With foreign direct investment (FDI) in the insurance sector now increased from 74% to 100%, UK companies can further contribute to the industry’s growth. The UK, being the third-largest technology economy in the world, has also witnessed an increasing number of British tech firms establishing operations in India.

According to Business and Trade Secretary Jonathan Reynolds, technology and life sciences are two major growth sectors for the UK economy. Government support has helped key British businesses enter the Indian market, boosting trade and investment. This expansion is expected to generate tens of millions of pounds for the UK economy while creating new opportunities for Indian and British companies alike.

Currently, over 950 Indian companies operate in the UK, while more than 650 UK businesses have established a presence in India. These companies collectively support over 600,000 jobs across both economies. Additionally, Indian investments in the UK, valued at over £100 million, are projected to create hundreds of jobs across various industries such as artificial intelligence, textiles, and professional services over the next three years.

As trade negotiations between the UK and India continue, these agreements signal a commitment to enhancing bilateral trade. Investment Minister Poppy Gustafsson emphasized the government’s ambition to make the UK a top investment destination, strengthening long-term economic cooperation with India.

Related News

Interview