India solid a partnership with West Midlands to increase tourism, trade and funding on June 26. Situated in the western-central space of England, West-Midlands comprised of cities like Birmingham, Coventry and Wolverhampton, Solihull amongst others, is an space that’s residence to greater than 2,00,000 folks of Indian origin, largest exterior of London.
West Midlands-India Partnership was launched nearly due to Covid-19 lockdown restrictions and it consists of business heavy weights just like the Jaguar Land Rover, PwC, State Bank of India UK, Birmingham City University and DLA Piper because the signatories. The endeavour of the partnership is to help the area’s long-term financial progress plans by creating stronger hyperlinks and alternatives for collaboration as a part of a five-year programme of exercise with the Indian market.
To a area that noticed a drop in its international direct investments in 2019, this could come as excellent news. India is the second largest sources of FDI after the US in the area and has created about 13,000 new jobs in West-Midlands over 10 years.
West Midlands-India Partnership (WMIP) is one more step in direction of strengthening this quantity.
Dr Jason Wouhra OBE, Chair of the West Midlands India Partnership, stated, “The West Midlands-India Partnership is a confident step forward at a time when building resilient, productive economies is key. Through the Partnership’s long-term strategy, we aim to identify opportunities for both Indian and local businesses to trade, innovate and grow.”
Defining what the initiative will entail he added, “By strengthening networks, collaboration in academia and airline connectivity, we want to build on our shared history to forge new opportunities for a confident future. As the former co-owner and director of East End Foods plc a globally trading, West Midlands success story, I want to encourage Indian-owned businesses to follow in my steps and capitalise on this region’s potential.“
WMIP has had the support of Invest India, the Confederation of Indian Industry, and the Consulate General of Birmingham office.
Responding to the extent of the partnership, Dr Aman Puri, Consul General of India, Birmingham said, “This initiative offers both British and Indian companies a fantastic new platform to collaborate on a wide range of established and emerging technologies. For SMEs in particular, it presents a real opportunity to develop more connected supply chains and scale through new commercial partnerships.”
“I encourage enterprising businesses with ambitions to drive forward the industries of tomorrow, to join this exciting programme and realise the innovative potential of the West Midlands, as well as India’s growing ambitions in high-growth manufacturing and technology. I look forward to supporting the important and inspiring vision of the West Midlands India Partnership,” he added.
Apart from trade and funding, the Partnership is taking a look at bolstering tourism in the area alongside with attracting ties between the schools.
Already the area attracted about 38,000 guests from India in 2018 with a 16 per cent improve in leisure visits in the final 5 years. West Midland universities too have seen a 33 per cent improve in their Indian pupil consumption over the identical interval, official figures reveal.
The partnership goals to construct additional on this with focused advertising and marketing and communications campaigns. Calling West Midlands a melting pot of cultures, Lakshmi Kaul, Head & Representative UK at Confederation of Indian Industry, stated, “Confederation of Indian Industry (CII) is pleased to support the West Midlands by working alongside the Partnership to amplify business-to-business, as well as the people-to-people connection, while also addressing the economic growth and recovery roadmap.”
With an goal of strengthening civic partnerships between West Midlands and Indian cities, the WMIP will discover joint exercise by means of a twin metropolis mannequin, enabling each locations to develop their networks, search funding and collaborate on funding and customer tasks.
Hoping to appeal to the very best expertise to stimulate cross-market trade, Andy Street, Mayor of the West Midlands stated, “The West Midlands’ innovation-led Industrial Strategy alongside the scale and ambition of India’s manufacturing, life sciences and technology sectors presents a major opportunity for world-class industry collaboration, helping to attract significant investment and create new, local jobs.”
WMIP goals to help the UK authorities, “matched-funded Birmingham 2022 Commonwealth Games Tourism, Trade and Investment Programme designed to maximise the economic benefits of the global spectacle.”
Governed by advisory in addition to government board, WMIP may have vary of Indian and British stakeholders.
The advisory board shall be accountable for the strategic path of the Partnership, offering recommendation and steering to the manager board, which can form the planning and supply of the programme’s exercise.