- over 600 UK companies, including in cutting-edge tech and life sciences sectors, are already based in India
- UK businesses exported a total of £17 billion goods and services to India in the 12 months to September 2024
- a trade deal which brings down barriers could make selling to this huge market easier and cheaper for businesses, delivering on the government’s Plan for Change
Companies in the UK’s tech and life sciences sectors are making huge strides in global markets and going for growth by announcing expansions in India.
UK tech and science firms are thriving thanks to deals and partnerships valued at tens of millions of pounds, involving everything from supplying internet-based learning to pupils in disadvantaged communities to helping improve outcomes for patients undergoing complex surgery in hospitals.
Trade Secretary Jonathan Reynolds has been in New Delhi this week, as the UK Government relaunched talks on a trade deal with India to bring more opportunity to UK businesses and deliver on its core mission to grow the economy, as part of the Plan for Change.
Already an economic heavyweight, India is expected to become the fourth largest importer by 2035, presenting new opportunities for UK businesses. In the year to September 2024, UK businesses exported a total of £17 billion goods and services to India.
Business and Trade Secretary Jonathan Reynolds said:
Tech and life sciences are two huge growth sectors for the UK economy that feature at the heart of our Industrial Strategy.
I’m proud that government support has helped some of our finest businesses in these sectors to expand into the exciting Indian market.
It’s great to see them going for growth, and their successes will amount to tens of millions of pounds for the UK economy, which will see living standards improve, and put money in people’s pockets.
UK businesses expanding their exports into India include:
- manufacturer of RF solutions to mobile networks, defence, and aerospace markets Radio Design, headquartered in Shipley, has expanded its global operations with a manufacturing facility in India
- Global Tech operations for Marcus Evans Group, London-based specialists in high-impact and bespoke events, are now established in Mumbai
- Appliansys, an innovative tech company based in Coventry whose internet-based education supports students in low or no internet areas, has worked with Tata Motors and developed a pilot which will be used across almost 5,000 Indian schools
- Leicester-based chemicals company Microfresh has now rolled out its smart antimicrobial technology across multiple Indian textile and leather players
- a digital health tech business headquartered in London, Novocuris has begun operating in multiple Indian hospitals
- Keele-based Biocomposites is supplying hospitals in India with its medical devices for use in complex bone, joint, and musculoskeletal infections
- York business Optibiotix Health has entered into a long-term partnership with Morepen Laboratories with its brand “Light life” containing its patented, award-winning and clinically tested SlimBiome, used as a pre-meal and on-the-go meal product
- REM3DY Health, a Birmingham based advanced manufacturing business has partnered with a leading Indian pharmacy giant to bring its innovative gummy vitamin products to India with discussions ongoing to expand into even more personalised solutions in the future
Further information
- GDP figures are sourced from the IMF World Economic Outlook October 2024
- number of UK companies based in India are sourced from Grant Thornton
- trade values sourced from ONS UK total trade all countries July to September 2024
- forecasts for 2035 imports are as reported in the DBT global trade outlook February 2023 report
- total predicted export values have been generalised as the request of the companies for commercial confidentiality reasons