Investment Attraction
Invest in Manchester
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The Manchester India Partnership faced the challenge of strengthening trade and investment ties between Greater Manchester and India, particularly in sectors such as technology, life sciences, culture, and sport. The partnership aimed to capitalize on the opportunities presented by the UK-India Free Trade Agreement, which is projected to significantly boost bilateral trade and economic growth.
To address these challenges, the partnership organized a high-profile event at Emirates Old Trafford, where leaders from various sectors, including business and government, convened to discuss strategies for enhancing collaboration. Key initiatives included leading delegations to major tech summits in India, such as the Bengaluru Tech Summit and Nasscom Tech Leaders, as well as deepening partnerships in health innovation with the Government of Telangana at BioAsia.
The introduction of direct flights from Manchester to Mumbai by IndiGo, marking the airline's first European route, was a pivotal development. This new route not only facilitates easier access for businesses and residents but also positions Greater Manchester as a significant player for Indian investors. The establishment of a new Indian Consulate in Greater Manchester further underscores this commitment, eliminating the need for regional businesses to travel to Birmingham for consular services and enhancing the region's visibility in the Indian market.
As a result of these efforts, Greater Manchester is poised to benefit from an expected annual increase in bilateral trade by £25.5 billion, contributing £4.8 billion to the UK economy and generating £2.2 billion in additional wages. The region has already attracted substantial Indian investments from companies like Tech Mahindra, Hero Cycles, and HCL Technologies, creating jobs and driving economic growth. The Manchester India Partnership is committed to fostering long-term growth and job creation, leveraging the region's strengths in digital, technology, and life sciences to attract further investment from India.