UK INVESTMENT MINISTER LORD DOMINIC JOHNSON INAUGURATES NEW BRITISH TRADE OFFICE IN PUNE
Pune, 28 April 2023: Lord Dominic Johnson, CBE, Minister of State in the Department for Business and Trade inaugurated the new British Trade Office (BTO) on 28 April 2023, in Pune.
India remains a priority market for the UK and the Minister’s visit will help build momentum for the ongoing trade agreement negotiations between the two countries, which saw Round 9 of negotiations kicked off this week.
Whilst in Pune, Lord Johnson also met business community including potential and existing UK investors, like the Serum Institute of India, Bharat Forge, and Zensar to name a few.
Speaking at the inauguration Minister for Investment Lord Johnson said: “Puniyat yeun mala khoop anand zala (I am delighted to be in Pune). It is fantastic to be in India again visiting the vibrant city of Pune for opening the British Trade Office which will act as a signal of our commitment to Maharashtra and India. From life sciences to AI, now is the time to invest in the UK as we are determined to be the undisputed number one investment destination in Europe. Thank you once again to everyone from the city who manage this office and hoping for many years of successful partnership between us.”
The BTO has been in Pune for several years to liaise with the city’s multiple business and innovation hubs. It has delivered a high return on trade and investment wins in the manufacturing, future mobility and technology spaces and remain the point agency for all UK-India business interests.
The UK is home to a vibrant Indian diaspora of more than 1.6 million. India is the second largest investor into UK in terms of no of projects and the two countries benefit from a unique ‘Living Bridge’ of people, ideas, institutions, arts and culture.
Notes to editors:
• Pune was the centre of the partnership between Astra Zeneca and the Serum Institute of India to produce the Covishield vaccine, which protected hundreds of millions around the world.
• Minister for Investment Lord Dominic Johnson visited Mumbai and New Delhi in October last year where he met with investors and businesses including Hospitals Apollo, Prodapt and Wockhardt.
• The UK-India investment partnership is thriving, with over £28 billion invested in each other’s economies supporting over half a million jobs.
• Total trade in goods and services (exports plus imports) between the UK and India was £34 billion, in current prices, in the four quarters to the end of Q3 2022, an increase of 51.7% or £11.6 billion from the four quarters to the end of Q3 2021.
