Working with India

India is an incredibly important partner for the UK. As one of the world’s largest economies and democracies, it is a powerhouse that will play a major role in shaping the world post COVID-19. India is the second largest investor in the UK and a vital trading partner. India is a key priority market for Leeds City Region and many of our international businesses.

Following the UK’s exit from the EU, relationships with key international partners are even more important. There is strong political support in both the UK and India to build greater trade and investment links between the two nations.

In July 2020, the UK and India held the 14th Joint Economic and Trade Committee (JETCO). The UK’s International Trade Secretary Liz Truss and India’s Minister of Railways and Commerce & Industry Piyush Goyal agreed to explore opportunities for expanding and deepening our trade relationship. Bilateral trade between the UK and India was worth £24 billion in 2019 and there is huge potential to strengthen this trading relationship. 

India is now the fifth largest economy in the world, with a GDP of £2.3 trillion, overtaking France and the UK in 2019, with a GPD growth among one of the highest in the world (World Economic Forum). In 2010, India was only the ninth largest economy in the world, but is forecast to be nearly as big as Germany by 2024.

India is home to 1.3 billion people and has the fastest growing population to the world. It is interesting to note that of the 1.3 billion people living in India, 48% are under 21. By 2022, the median age of India will be just 28 as compared with 37 in China and the US, and 45 in Western Europe.

India is now the UK’s second largest source of foreign direct investment, investing in 120 projects and creating 5,429 new jobs in the UK in 2019, second only to the US. (Department for International Trade)

Indian companies in the UK employ 110,793 people combined revenues of £41.2 billion. The largest 654 diaspora-owned business employ a further 174,000 people with combined revenues of £36.84 billion, making a significant contribution to the UK economy. (Grant Thornton)

International collaboration, trade, and investment are crucial to ensure sustained economic growth in the Northern Powerhouse and we are committed to developing stronger links with India to drive forward global trade and inward investment initiatives.

India presents an opportunity for Leeds City Region because of:

· The scale of the opportunity

· The extensive partnerships between China and Leeds City Region, including university partnerships and major business investments

· The natural fit between Leeds City Region sector strengths and India’s key focus areas for economic development

· The extensive diaspora community, described warmly by Prime Minister as a 'living bridge' between the two countries

Get in touch for advice or support

For more information on how we are building relationships with India, please contact us below.

  1. Inbound activity

    Leeds City Region is proud to be home to a number of major Indian-owned businesses. These businesses are driving innovation in the Digital and Creative, and Manufacturing sectors, in partnership with our nine universities.

    Read more about Inbound activity
  2. Northern Asian Powerlist

    A celebration of the exceptional Asian business and cultural leaders from across the Northern Powerhouse who are driving innovation and economic growth.

    Read more about Northern Asian Powerlist