By: Business Desk
Last Updated: April 21, 2022, 18:53 IST
PM Modi and UK PM Boris Johnson will discuss trade deals between India and UK on Friday. (Image: Reuters)
UK Prime Minister Boris Johnson is on his first two-day visit to India after he was elected to the position. During his visit, the British prime minister announced deal worth £1 billion that will create as many as 11,000 jobs for Indians across the UK, the country’s high commission said on Thursday.
“UK and Indian businesses will confirm more than £1 billion in new investments and export deals today in areas from software engineering to health, creating almost 11,000 jobs across the UK,” the UK High Commission said in a statement.
“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,” Johnson was quoted as saying.
“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,” he added.
Companies That Will Hire Employees As Part of UK-India Commercial Deal (As Per UK High Commission Statement)
Switch Mobility: Firm will establish an R&D Centre in the UK this summer, part of the companies £300m investment and plans to employ over 1,000 highly skilled jobs across UK and India.
Mastek: Investment of around £79m to expand their UK operations, creating 1,600 UK jobs
Firstsource: Investment to set up ‘hub and spoke’ offices across the UK, creating 1000 UK jobs
Tech Mahindra: Plans to bolster AI growth, with the aim to create 1,000 jobs in the UK
Mphasis: £5m investment to set up a new office in the north of England, generating around 700 high skill jobs
Prodapt: £100m investment expand software and technology service operations in the UK, creating around 500 jobs.
Bharat Forge – Tevva Motors: £50m to expand into a new site in the UK for electric truck manufacturing, creating 500 UK jobs
Jupiter LifeLine Hospitals Ltd: Setting up a state of the art Neuro Rehabilitation Centre for patients in the UK, creating 500 jobs with an investment of around £50m.
TVS Motors: Investing around £100 in iconic British brand Norton Motorcycle. This is expected to create 250-300 direct jobs over the next 3 years and another 500-800 indirect jobs across the supply chain.
Apart from this, companies like Byju’s has chosen the UK to be their first global innovation hub, creating 55 jobs with a £15m investment. Tata Chemicals has announced a £20m investment to expand UK operations, creating 30 jobs. Apollo Tyres has committed £5m investment to open a Digital Innovation Hub in the UK, creating 25 jobs. Microlabs, an Indian Pharmaceuticals company isinvesting £10m to expand in the UK. Other companies that will invest in the UK include, LTI, TVS Supply Chain Solutions, Leverage Edu, Goqii, Property Share, Xelpmoc, HyperXchange, Lepton Software, Gayam Motor Works, Searce, Manras Technologies, Forest Essentials, Start-up Voyager and Qure AI Technologies.
Read all the Latest News , Breaking News and IPL 2022 Live Updates here.
About the Author
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings …Read More
Follow us on
Download News18 App
By: Business Desk