- High Commission of India and Manchester host event to strengthen bilateral trade
- Opportunity for Manchester to partner with India to help deliver economic development policy
- India’s growing economy looks to Manchester for collaboration
Forging long-term relationships, harnessing bilateral trade and collaboration between Manchester and India is crucial to boosting the country’s thriving economy. This will be Deputy High Commissioner Dr Virander Paul’s resounding message at Make in India, Innovate with Manchester.
Make in India, Innovate with Manchester is a significant event taking place at the city’s Town Hall on 22 June, bringing together Indian businesses interested in trading with India and Indian businesses seeking collaborative opportunities in Greater Manchester. The event, hosted by MIDAS, Manchester’s inward investment agency (part of Manchester Growth Company) and the High Commission of India, is supported by the Confederation of Indian Industry, UKTI and Deloitte. It will enable delegates to better understand the bilateral trade, export and R&D collaboration opportunities presented by Prime Minister Modi’s initiative and how the city region is strengthening ties with India.
Since Prime Minister Modi launched Make in India, the country’s economic growth policy focused on fostering investment, innovation, protecting intellectual property and building world-class manufacturing, it has become clear it presents a real opportunity for Greater Manchester. Both Manchester and the High Commission of India have put increasing resources and energies into fully exploiting the opportunity and forging closer ties.
India is a critical market for the UK in terms of inward investment, outbound export, education and tourism. EY UK Attractiveness Survey 2016 revealed India was one of Manchester’s key markets for foreign direct investment and it is clear that Indian businesses are investing in the city. More specifically some of India’s key companies have invested in the region, these include Aegis, Vistaar Productions at MediaCityUK, Hero Cycles, State Bank of India and recently, HCL Technologies’ innovation partnership with Manchester United Football Club.
Highlighting the mutually beneficial India-UK economic engagement, Dr Virander Paul, said: “The Make in India initiative and other flagship programmes of the Government of India offer tremendous opportunities for foreign investors.
“Manchester is one of the active centres in the country, remaining in constant touch with the High Commission and Indian industry in diverse areas of trade and investments, life sciences and healthcare and higher education.”
Greater Manchester’s heritage in innovation and science, which has seen the region being recognised as European City of Science 2016, make it the ideal partner for Make in India. The universities expertise in areas such as advanced materials and manufacturing, 3D printing and life sciences provides unparalleled R&D opportunities for both industry and educational establishments.
Key speakers at Make in India, Innovate with Manchester include Dr Virander Paul, Tony Lloyd, Mayor of Greater Manchester, Tim Newns, Chief Executive of MIDAS, Manchester’s inward investment agency, Professor Luke Georghiou, Vice-President for Research and Innovation, University of Manchester,Shuchita Sonalika, UK Director, Confederation of Indian Industry and Bhupendra Nagar, Associate General Manager, HCL Technologies. Other companies attending the event will include Air India and Times of India.
Councillor Richard Farnell, Lead Member for Internationalisation and Marketing, Greater Manchester Combined Authority, said: “Positioning Greater Manchester on the global stage and attracting international investment is essential to growing our economy. This is evident with the increasing number of businesses taking premises across the city.
“The Greater Manchester Internationalisation Strategy names India as one of the city region’s six priority markets and we recognise India as a key partner. Our innovations within key sectors complement those developing in India, like R&D and Advanced Manufacturing, and the country’s economic policy is the perfect bridge to strengthening existing ties with our Indian partners.”
Tim Newns, chief executive of MIDAS, said: “Greater Manchester has traded with India since the Victorian era and Make in India, Innovate with Manchester provides us with the opportunity to collaborate and take this relationship to the next level. Greater Manchester has the skills and expertise in innovation, through our universities and private companies, to support India’s ambitions whilst also fuelling the ambitions of our local companies and research institutions which can add significant value.
“In Manchester 53,000 residents are of Indian heritage with multiple businesses in the city region being Indian-owned, adding to the fabric of our dynamic society. We are proud to welcome the Deputy High Commissioner to Manchester and hope this event symbolises the importance of bilateral trade and inward investment, developed through new and existing relationships.”