UKIBC Quarterly Interaction with UK Minister for Investment and Indian Investors in the UK
On 16 March, the UK India Business Council (UKIBC) was delighted to host its third virtual roundtable with the UK Minister for Investment, Lord Gerry Grimstone of Boscobel Kt.
UKIBC Group CEO Jayant Krishna hosted the session, which comprised a select group of 11 senior Indian investors in the UK.
This session was particularly special as Lord Grimstone celebrated one year since becoming Minister. He reflected on the progress made in his first year, noting that it has been a remarkable time to assume this role. The UK Government is in a strong position at the moment with the roll out of the vaccine moving successfully.
As expected, life sciences is of particular interest with the commitment to reach net zero by 2050 impacting every sector of government policy. There is high investment here, which will create a variety of opportunities for the private sector.
The UK Government has affirmed its commitment to supporting businesses in the recent budget announcement. Participants were pleased to understand the changes taking place in the UK economy and the government’s plans to attract investment in the UK.
Overseas investment is especially vital for the UK due to research which shows foreign invested companies are more productive than solely UK companies, and they tend to generate more R&D, innovation, and exports. It is anticipated that over the next few years, overseas investment will become more of a necessity rather than a nice addition.
The UK-India trade and investment relationship continues to strengthen, with many of the Indian investors reiterating their respective commitments at the session to investment, helping to create jobs in the UK, further innovation, and contributing to the net zero mission.
We are honoured to facilitate these important business to government dialogues for our members and clients, and look forward to continuing these conversations and working closely with our colleagues at DIT.