The UK is looking to strengthen business ties with India and also welcomes Indian students to study in the UK, Dr Vince Cable, Britain's Secretary of State for Business, Innovation and Skills said at Panaji in Goa. Cable was in Goa as part of his India tour to pursue the twin goals of business and education. Besides meeting Goa deputy chief minister Francis D'Souza, Cable met with several Goan businessmen including Sreenivas Dempo, Victor Albuquerque, Ashok Chowgule and others.
Later speaking to the media, Cable said Britain has a highly sophisticated manufacturing sector in advanced technology like aerospace, biosciences and automotive sector and was looking for tie-ups with Indian companies. While Tata has huge business interests in the UK, Goan businessmen like Pai Kane and Chowgule's also had businesses there, he said.
Cable said that though Indian students were highest in the UK, their number has now fallen due to a wrong perception that Indian students were not welcome in the UK any more. The UK government did tighten rules to stop certain abuses and also acted against illegal universities. But Indian students are most welcome and can stay on in the UK if they get jobs, he said.
There are approximately 25,000 Indian students studying in the UK. Genuine students studying in genuine institutions will get their visas. There is no cap on the number of Indian students in the UK. There is provision to work after study in a graduate level job (UK pounds 20,000 per annum) for three years, extendable to another three years.
In a speech to the Federation of Indian Chambers of Commerce and Industry in Delhi, Cable highlighted the valuable contribution Indian students made by studying at UK universities. Cable said: “From Indira Gandhi - India’s first woman Prime Minister - to Olympic Park sculptor Anish Kapoor, UK universities have produced some of India’s most eminent and talented graduates and I want that legacy to continue. With no limits on overseas student numbers and scholarships like the GREAT awards, the doors were open to Indian students to benefit from our world-class universities.
“This is not a short-term offer. There was huge demand from UK employers for the high level skills Indian graduates can offer, and students that gain graduate-level employment can stay here after completing their studies.”
Cable announced measures to encourage more Indian students to come to the UK: The largest ever number of scholarships for Indian students through the GREAT Scholarships programme. The 2015 intake will offer 396 new scholarships at 57 institutions across the UK to study a variety of under-graduate and post-graduate courses such as engineering and IT.
He also announced a total £33 million investment in projects that would bolster the UK’s business relationship with India. These include: Indian company Amtek Auto investing in a new foundry in Kidderminster to meet the growing need for automotive parts from Jaguar Land Rover and Ford, and grow their manufacturing presence beyond existing UK facilities in Coventry and Essex. The initial investment of £23 million will lead to 500 new jobs by 2018.
British dental company, Prima Dental, is investing £10 million in India to establish a sales and distribution arm in the north of the country. Prima Asia will supply burs to the dental profession across India and the subcontinent. UK Tech company, Blippar, is launching India Blippar. Blippar is a leader in augmented reality, enabling consumers to bring to life images and products via smartphones and wearables and are opening their first Asia office in Delhi.
Cable said Britain and India have long enjoyed a strong, collaborative business relationship - demonstrated by the fact that we were their largest investor in the G20 accounting for around 30% of their annual investment - while India invests more into the UK than any other country.
The government’s industrial strategy is giving business the confidence to increase investment - creating more high skilled, long term jobs in the UK. So I am pleased that Amtek is the latest Indian company to increase investment into the UK, creating 500 new jobs in Kidderminster.
Amtek Auto has benefited from the Jaguar Land Rover success story, which thanks to Indian investment has created an extra 11,000 new jobs over the last 3 years.
Cable also addressed approximately 300 students at leading technology and sciences institute, BITS Pilani’s K.K Birla Campus in Goa – as well as students at its Hyderabad and Delhi campuses via video link.
